Highlights of This Issue
According to incomplete statistics from PANews, there were 21 financing events in the global blockchain sector last week (from February 24 to March 2), with a total funding scale exceeding $202 million, showing an increase compared to the previous week. The overview is as follows:
- DeFi announced 4 financing events, including RWA blockchain development company Mavryk Dynamics, which completed a $5.2 million financing round with participation from Ghaf Capital and others;
- The Web3 gaming sector announced 1 financing event, with social gaming company ACID Labs announcing it has raised $8 million led by a16z speedrun and NFX;
- The NFT sector announced 1 financing event, with NFT project Meebits' parent company MeebCo completing a $3 million financing round, with participation from 1confirmation;
- The DePIN sector announced 1 financing event, with GEODNET completing $8 million in strategic financing, led by Multicoin Capital;
- The Infrastructure & Tools sector announced 5 financing events, including crypto technology startup Orochi Network, which completed a $12 million financing round with participation from Presto Labs and others;
- The Other category announced 5 financing events, including crypto gift card platform Raise, which completed a $63 million financing round led by Haun Ventures;
- The Centralized Finance sector announced 2 financing events, with Bitwise completing a $70 million financing round, with participation from Electric Capital and others.
DeFi
RWA blockchain development company Mavryk Dynamics announced the completion of a $5.2 million financing round, led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures, and Atlas Fund. Mavryk Dynamics aims to simplify RWA tokenization and DeFi integration, making digital asset ownership more accessible.
Re-staking protocol Byzantine Finance has completed a $3 million Pre-Seed financing round, led by Node Capital and Blockwall Ventures, with participation from Lightshift, Masterkey, Kiln Ventures, and angel investors from EigenLayer, LayerZero, and Ledger. The funds will be used to develop its permissionless "aggregation layer," a protocol designed to enable multiple blockchains to share liquidity, state, and users without sacrificing sovereignty.
Fixed-rate lending protocol Tenor Labs completes $2.5 million seed financing
Fixed-rate lending protocol Tenor Labs announced the completion of a $2.5 million seed financing round, led by cherry.xyz, with participation from Coinbase Ventures and Lattice. Tenor is a non-custodial, self-executing fixed-rate lending protocol that allows the creation of permissionless markets and efficiently matches borrowers and lenders.
Stablecoin issuer Aegis completes $2 million Pre-Seed financing
Aegis successfully completed $2 million in Pre-Seed financing, with investors including Dewhales DAO, Profluent Ventures, and other notable angel investors. The company is developing YUSD, the first Bitcoin-backed stablecoin completely independent of fiat banking systems, featuring real-time transparency and built-in yield mechanisms, aimed at addressing issues of low transparency, high risk exposure, and lack of yield sources in existing stablecoins. YUSD maintains stability by holding BTC and establishing a delta-neutral position, automatically generating yield without the need for staking. Users can view APY calculation methods, collateral asset reserve proofs, and market positions through the Aegis system for complete transparency. Aegis plans to officially launch YUSD in Q1 2025 and integrate with mainstream DeFi protocols, liquidity pools, and lending platforms.
Web3 Gaming
Social gaming company ACID Labs completes $8 million financing, led by a16z speedrun and NFX
Social gaming company ACID Labs has raised $8 million led by a16z speedrun and NFX. The studio's popular game Boinkers.io has seen its monthly active player count on Telegram grow to over 11.5 million.
NFT
According to a post by 1confirmation on platform X, MeebCo, the company behind the NFT project Meebits, has completed a new round of financing totaling $3 million, with participation from 1confirmation, though specific valuation information has not been disclosed. According to related announcements, Meebits currently does not have a token issuance plan, but there may be potential plans for future token issuance. 1confirmation added that while the project does not yet have a clear product direction, it will support the return of NFTs and build a long-term community.
DePIN
DePIN project Geodnet completes $8 million financing, led by Multicoin Capital
Decentralized network hardware infrastructure company GEODNET announced it has completed $8 million in strategic financing, led by Multicoin Capital, with participation from ParaFi and DACM, bringing its total financing to $15 million. The funds will be used to expand its global real-time kinematic (RTK) network and support the development of the next generation of robotics and Physical AI.
Solana ecosystem DePIN project Shaga completes $4 million financing, led by IOSG Ventures
Solana ecosystem DePIN project Shaga announced it has completed $4 million in seed financing, led by IOSG Ventures, with participation from Everyrealm, Amber Group, MH Ventures, and others. Shaga aims to break through hardware limitations to provide ultra-low latency, high-performance cloud gaming experiences, allowing global users to enjoy high-quality gaming content more conveniently.
Infrastructure & Tools
Crypto technology startup Orochi Network completes $12 million financing
Crypto technology startup Orochi Network has completed $12 million in financing. This funding includes seed financing and grants, with participation from Presto Labs, Smape Capital, Anti Capital, Maxx Capital, Bolts Capital, AZA Ventures, and Connectico. Additionally, grants were provided by the Ethereum Foundation, Mina Protocol, Web3 Foundation, and BNB Chain.
Blockchain asset risk management platform Lockchain.ai completes $5 million Series A financing
Blockchain asset risk management platform Lockchain.ai announced it has completed $5 million in Series A financing, led by White Star Capital, with participation from Lerer Hippeau, Arrington Capital, and Sonic Boom Ventures. Lockchain.ai plans to use the new funds to enhance its significant event detection capabilities for sharper market intelligence, accelerate data discovery, simplify due diligence, build an automated compliance framework that meets regulatory requirements, and launch regulatory compliance automation for MiCA and others. Lockchain.ai is a blockchain asset risk management platform that utilizes generative AI for real-time portfolio risk analysis and monitoring.
Shared security network IMUA completes $5 million seed financing, led by Draper Dragon and others
The shared security network IMUA announced the completion of a $5 million seed financing round, led by Draper Dragon, No Limit Holdings, and Paramita Capital, with participation from Reforge Capital, Caladan Capital, Tané Labs, Syntax Capital, MH Ventures, 57 Blocks, Lecca Ventures, and others. The new funds will be used to develop new technologies that bundle decentralized security and trust from blockchains like Bitcoin, Ethereum, XRP, and Solana into a service to secure off-chain networks such as AI agents. Currently, the IMUA public testnet is live.
ZKP technology startup Ligero completes $4 million seed financing, led by Galaxy Ventures and 1kx
ZKP technology startup Ligero has completed a $4 million seed financing round, co-led by Galaxy Ventures and 1kx, with participation from Franklin Templeton, Nascent, Anagram, Robot Ventures, Digital Currency Group, and ZKV. The company began this round of financing in March 2024 and concluded it in July 2024, with a valuation cap of $20 million. There are currently no plans to launch a token.
Finisterra Labs completes $3.75 million seed financing, led by Haun Ventures
According to an announcement from Finisterra Labs, the company has completed a $3.75 million seed financing round, led by Haun Ventures, with participation from Lightshift Capital. The funds will be used to develop the decentralized data marketplace Baselight, which aims to address data fragmentation, high access costs, and unfair profit models, providing a queryable, computable, and monetizable data platform for financial analysts, DeFi developers, AI teams, and others. The team plans to expand the data ecosystem, optimize the analytics engine, and deepen the integration of AI, finance, and blockchain to promote data democratization.
Optimum announced the completion of an angel round financing, with investors including the CTO of Polychain, the founder of DeFiance Capital, the CEO of Bitget, co-founders of Wormhole and Polygon, and managing partners from Jump Crypto, among other well-known figures in Web3. Optimum was co-founded by Professor Muriel Médard, NEC Chair of the MIT Department of Computer Science, Dr. Kishori Konwar, and Kent Lin, President of the Harvard Blockchain Association, based on MIT's research on Random Linear Network Coding (RLNC), creating the world's first full-chain scaling solution—high-performance memory for the World Computer.
Optimum provides high-performance memory infrastructure for L1/L2 blockchains and node operators, including a P2P data communication layer and a decentralized memory layer (deRAM), breaking through blockchain scalability bottlenecks to achieve fast data transmission, efficient storage, and real-time access. The financing will be used to accelerate product development and bring infrastructure upgrades to the Web3 ecosystem.
Others
Consumer:
Crypto gift card platform Raise completes $63 million financing, led by Haun Ventures
Crypto gift card platform Raise announced the completion of a $63 million financing round, led by Haun Ventures, with participation from Paper Ventures, Selini Capital, GSR, and Raj Gokal, co-founder of the Solana blockchain. The company declined to disclose the valuation for this financing.
Bybit invests $1 million in agricultural blockchain project EthicHub
According to MarketWatch, cryptocurrency exchange Bybit announced a $1 million investment in EthicHub, facilitated by the Blockchain Good Alliance (BGA). EthicHub primarily uses blockchain to promote financial inclusion and empower small farmers by integrating productive loans, blended financing, and market access to transform agricultural finance.
AI-driven Web3 music production platform MelodAI completes new financing round, led by LF Labs
AI-driven Web3 music production platform MelodAI has completed a new financing round, led by LF Labs, with participation from Becker Ventures and Hong Kong investment firm Web3link. The specific amount has not been disclosed, and the new funds will support its development of Web3 AI-generated content (AIGC) and AI Agent services.
Meme:
Memes Lab completes $2.3 million seed financing, led by Lemniscap
Memes Lab announced the completion of a $2.3 million seed financing round, led by Lemniscap, with participation from TVM Ventures, Animoca Brands, OKX Ventures, Mirana Ventures, Kucoin Ventures, GSR, Amber Group, and others. The funds will be used to develop and launch the TON application platform for creating, trading, and distributing Meme tokens.
The meme coin prediction market MemeMarket, based on the Solana ecosystem, announced the completion of an angel round financing, with participation from IBC Group, CRYPTO TIMES, and angel investors from Presto Labs Ventures, Republic Crypto Ventures, MEXC Ventures, BitGet, and LFG. The specific amount has not been disclosed, and the new funds are intended to build decentralized meme coin prediction tools and a "super app."
Centralized Finance
Bitwise completes $70 million financing, with participation from Electric Capital and others
Bitwise announced the completion of a $70 million financing round, with participation from Electric Capital, MassMutual, MIT Investment Management Company, Highland Capital, Haun Ventures, ParaFi Capital, and others. The funds will be used to continue advancing its position as a leading crypto asset management company.
Currently, Bitwise manages $12 billion in client assets, has over 100 employees, and offers more than 30 investment solutions. The company plans to continue expanding its team and launching new products.
Crypto lending platform Lantern Finance announced the completion of $1 million in Pre-Seed financing, with participation from Orange DAO, Supermoon Ventures, Andover Ventures, and others. The new funds will support the development of the next-generation cryptocurrency lending platform, allowing users to borrow against digital assets and deposit funds directly into bank accounts.
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