Source: Cointelegraph Original: "{title}"
Venture capital funding continued to flow into the blockchain and cryptocurrency industry in March, despite market commentators sensationalizing claims of the end of the bull market as Bitcoin (BTC) retraced by 30%.
VC funding flows are seen as an important indicator of the blockchain industry, with higher trading activity indicating strong investor demand and growing innovation in the field.
As reported by Cointelegraph, blockchain startups raised a total of $1.1 billion in February alone, with projects involving decentralized finance, decentralized infrastructure networks, and payments attracting the majority of the funding.
Despite the cryptocurrency market being filled with fear and uncertainty, February remained a strong month for blockchain VC. Source: TIE
Early signs indicate that crypto venture capital deals in March may be stronger than before, as evidenced by the growth in the size of investment rounds and the increase in the number of participating investors.
This month's VC roundup covers a total of 8 deals, with 7 of them achieving valuations in the eight figures.
AcrossProtocol raised $41 million through a token sale
Ethereum cross-chain interoperability platform AcrossProtocol raised $41 million through a token sale, led by San Francisco-based venture capital firm Paradigm, with participation from Coinbase Ventures, Bain Capital Crypto, and Multicoin Capital.
AcrossProtocol is expanding Ethereum (ETH) L2 connectivity through what it calls "intents," an architectural approach that separates asset transfers from message verification.
Cross Protocol (ACX) price chart. Source: CoinMarketCap
"The urgent task—moving assets and executing intents—is immediately completed by relayers […] while the time-consuming message verification is done afterward," wrote engineer and technical writer Aiden Park in a note about intents.
"This approach allows Across to send messages at lower costs, faster speeds, and higher security, distinguishing it from other messaging protocols," he said.
Ribbit Capital led a $23.6 million funding round for Crossmint
Enterprise-level Web3 company Crossmint completed a $23.6 million funding round to expand its on-chain onboarding technology. This technology aims to help businesses and AI agents enter Web3 without requiring blockchain expertise. The round was led by San Francisco-based venture capital firm Ribbit Capital.
According to Crossmint co-founder Rodri Fernandez, the platform offers low-code APIs that support various blockchain functionalities, including wallets, stablecoins, tokenization, and credentials. The announcement also stated that Crossmint currently serves over 40,000 businesses and developers across more than 40 blockchains.
Remittance app Abound receives support from Near Foundation and Circle Ventures
New York-based remittance app Abound completed a $14 million funding round led by Near Foundation, with participation from Circle Ventures.
The Abound app aims to bridge the remittance gap between the large Indian diaspora and the United States. It is reported that the app has processed over $150 million in remittance transactions.
Abound was developed by the Times of India Group based in Mumbai.
While it is unclear whether blockchain technology and digital assets are directly integrated into Abound's services, the involvement of Near and Circle Ventures indicates that blockchain-focused companies are increasingly paying attention to cross-border payment and remittance services.
Source: Near Protocol
Chronicle completes seed funding round
Chronicle, an Ethereum oracle and tokenization infrastructure provider, successfully completed a $12 million seed funding round. This round was led by Strobe Ventures (formerly BlockTower Venture Capital), with other investors including Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital, Fenbushi Capital, Gnosis Ventures, 6th Man Ventures, and several angel investors.
Chronicle provides real-time data streams for protocol developers, which are crucial for the DeFi and real-world asset (RWA) tokenization ecosystem. The company stated that growing institutional interest in RWA tokenization was one of the key factors behind its successful fundraising.
DeFi yield-bearing stablecoin LevelUSD launched and raised $2.6 million
In March, blockchain development company Peregrin Exploration launched the stablecoin LevelUSD and received $2.6 million in funding from institutions including Dragonfly Capital, Polychain, and Flowdesk.
LevelUSD is a yield-bearing stablecoin that issues digital dollars by re-staking stablecoins as collateral. Since its launch, its market capitalization has significantly increased, reaching $116 million at the time of writing.
LevelUSD has been integrated into several DeFi protocols, including Pendle, LayerZero, and Specta. Additionally, it can be used as collateral on the decentralized lending platform Morpho.
Over the past two years, demand for dollar-backed digital tokens has surged, with the total stablecoin market nearing $230 billion. Source: RWA.xyz
Halliday secures $20 million in funding to expand Agentic Workflow Protocol
No-code blockchain development company Halliday completed a $20 million Series A funding round to expand its Agentic Workflow Protocol (AWP)—an AI tool that helps developers build DeFi applications without writing smart contracts.
This round was led by a16z Crypto, with participation from SV Angel, Avalanche Blizzard Fund, Credibly Neutral, AltLayer, and other angel investors.
Halliday stated in the announcement that with AWP, blockchain companies can "build applications in hours instead of years." Halliday's programming model handles all technical aspects of blockchain development and execution, theoretically accelerating the scaling of enterprise products.
AI-driven ValidationCloud completes $15 million Series A funding
ValidationCloud, a company focused on artificial intelligence and blockchain infrastructure, has completed a $15 million Series A funding round, led by True Global Ventures, with participation from Cadenza, Blockchain Founders Fund, Bloccelerate, and others.
The funds will be used to expand ValidationCloud's Web3 infrastructure solutions, including staking, node APIs, and data services.
ValidationCloud provides blockchain data access, node, and staking solutions for institutions, and its technology has been adopted by projects such as Hedera, Aptos, Stellar, EigenLayer, and Polygon.
Skytale Digital launches $20 million Polkadot ecosystem fund
Blockchain investment firm Skytale Digital has launched a Polkadot ecosystem fund, planning to invest $20 million to promote the development of this "network of networks."
The fund combines financial support, technical expertise, and mentorship, aiming to help Web3 developers scale their products within the Polkadot ecosystem, with a focus on supporting decentralized applications (DApps) and key infrastructure projects.
Source: Cryptking.eth
According to CoinMarketCap, Polkadot is the 20th largest blockchain network, with a total market capitalization of approximately $7.3 billion.
Related: U.S. stock index futures sold off ahead of Trump's "Liberation Day" tariffs, Bitcoin drops to $81,500.
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