A total of 33 public financing events occurred in the crypto market last week, with a total of approximately US$256 million raised | Investment and Financing Weekly Report

Organization: Cookies, RootData

According to incomplete statistics from RootData, from May 20 to May 26, 2024, blockchain and encryption A total of 33 public investment and financing events occurred in the industry, with a cumulative financing of approximately US$256 million.

From the perspective of track distribution, the projects that have received financing are mainly distributed in the infrastructure and DeFi tracks. The decentralized social network Farcaster completed a $150 million Series A round of financing at a $1 billion valuation, Binance Labs announced its investment in Aevo, and OKX Ventures announced its investment in Monad. Other popular projects include triple yield re-hypothecation protocol Kelp DAO, digital infrastructure Dora Factory, and Scroll yield and auction platform Pencils Protocol.

In addition, Fantom Foundation announced the completion of US$10 million in strategic financing, led by Hashed, with participation from UOB Ventures, Signum Capital, SoftBank, Aave Foundation, etc. Proceeds from this round will be used to support the Sonic Foundation, as well as strategic growth and ecosystem development, with a particular focus on enhancing liquidity for automated market makers and money market blue chip pools. The move is aimed at attracting users from Ethereum and other layer 2 networks.

(List of projects that raised more than $5 million last week, data source: Rootdata)

1. Infrastructure

#1. The decentralized social protocol Farcaster completed a US$150 million Series A financing, led by Paradigm

The decentralized social protocol Farcaster completed a US$150 million Series A financing with a valuation of US$1 billion. Paradigm led the investment, with participation from a16z crypto, Haun, USV, Variant, Standard Crypto, etc. cast. The project said Sufficient funding allows Farscator to continue iterating on developer primitives such as channels and direct messaging, while continuing to focus on growth and retaining the protocol’s daily active users.

As of May 20, Farcaster had nearly 45,000 seven-day daily active users, an increase since the height of the Frames craze on February 11, according to a Dune Analytics dashboard created by Pixelhack 30%. (Source link)

2. Interoperability protocol Stripchain completed US$10 million in financing, led by Sora Ventures

Interoperability Sex protocol Stripchain completed US$10 million in financing. This round of financing was led by Sora Ventures, with participation from Hyperithm, Shima Capital, Hypersphere, Mechanism and Ascensive Assets.

It is reported that the startup allows developers to create commands called "intents" to perform operations such as transferring data between blockchains. Based on a system called stripVM, it will enable applications to communicate and coordinate with different protocols.

Furthermore, the main difference between this solution and other interoperability protocols is its focus on the transaction layer and the use of a proof-of-authority system. While early interoperability solutions targeted the protocol layer (such as Cosmos’ inter-blockchain communication protocol) or the contract layer via bridges, Stripchain facilitates data transfer at the user level. (Source link)

3. Multi-chain DAO infrastructure Dora Factory completed a new round of strategic financing of US$10 million, with participation from Nomad Capital and others

DAO-as-a-service infrastructure Dora Factory announced the completion of a new round of strategic financing of US$10 million, with participation from Nomad Capital, No Limit Holdings, Sky9 Capital, Singapore UOB-Signum Blockchain Fund, Interop Ventures and others. The financing will accelerate the adoption and strategic expansion of Dora Factory’s decentralized governance and public goods funding technology stack.

According to the Web3 asset data platform RootData, Dora Factory is a multi-chain DAO infrastructure that provides multi-chain authorization, privacy voting, Bounty services and other infrastructure levels for entrepreneurial teams and DAOs. Dora Factory provides a playground for easily creating DAOs with cool equipment to meet their key needs in governance, fundraising, collaboration, management, and more. (Source link)

4. DePIN project Blockless completed two rounds of financing totaling US$8 million

DePIN project Blockless completed pre-seed and seed rounds totaling US$8 million. NGC Ventures led the pre-seed round, M31 Capital and Frachtis co-led the seed round, and No Limit Holdings, MH Ventures, Interop Ventures and Plassa Capital participated.

Blockless plans to launch a testnet in the coming weeks and launch the mainnet along with the native BLESS token in the third quarter, its co-founder Butian Li said. (Source link)

5. MANTRA completed a new round of strategic financing, with Laser Digital participating in the investment

MANTRA announced that it has completed a new round of strategic financing A round of strategic financing, in which Laser Digital, the digital asset subsidiary of global financial services giant Nomura Securities, participated. This round of financing aims to accelerate MANTRA's goal of building a RWA Layer 1 blockchain in the Middle East and Asian markets. The current specific financing amount and valuation Not disclosed yet. (Source link)

6. MultiVM, the Ethereum L2 execution environment, completed US$6.9 million in financing, with participation from Inception Capital and others

Inception Capital said on social platforms that it has participated in the $6.9 million early financing of MultiVM, the Ethereum L2 execution environment, together with Lattice. MultiVM is a Layer 2 zk-rollup designed for multi-language smart contract development. It delivers fast performance and ensures secure communication via cross-VM calls, essentially allowing each VM to run on a single unified Ethereum rollup. The project was transformed from the decentralized trading platform Spin on NEAR. (Source link)

7. Layer 2 network Plume Network completed a $10 million seed round of financing, led by Haun Ventures

Focus on real-world assets ( Plume Network, a Layer 2 network powered by RWA, has raised $10 million in a seed round led by Haun Ventures. Other participating investors include Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures and Reciprocal Ventures.

Plume Network co-founder and CEO Chris Yin said the company had previously started talks with investors in April and ended up raising four times more funding than planned and closing the round earlier this month. Plume Network previously raised $1.6 million in a Simple Agreement Future Equity (SAFE) and token warrant round, which culminated in $2 million and is part of a $10 million seed round announced today.

Plume Network plans to launch a public incentivized testnet in the coming weeks and a mainnet launch later this year. The funding will be used to expand the team, specifically hiring in engineering, marketing and community functions.

According to the Web3 asset data platform RootData, Plume Network is a Layer 2 platform focused on introducing physical assets (RAW) into the blockchain. It offers fast transactions, low fees, and investments in diverse assets such as art and green energy. (Source link)

8. ZK hardware startup Cysic completed $12 million in pre-Series A financing, led by HashKey Capital and OKX Ventures

Zero-knowledge (ZK) hardware startup Cysic announced the completion of a $12 million pre-Series A round of financing, led by HashKey Capital and OKX Ventures. The new funding will be used to accelerate the generation of ZK proofs in a faster, more cost-effective, user-friendly and decentralized manner.

Cysic closed a $6 million seed round in February last year, led by Polychain Capital and with participation from investors including Hashkey, SNZ Holding, A&T Capital, ABCDE and Web3.com Ventures. (Source link)

9. Web3 payment service platform Unlockit completed a Pre-Seed round of financing of 1.4 million euros, led by Eaglestone Capital Partners

Web3 payment service platform Unlockit announced the completion of a €1.4 million Pre-Seed round of financing, led by Eaglestone Capital Partners, with participation from Portugal Ventures and existing investors Reorganiza and Republica.

It is reported that Unlockit is headquartered in Portugal and currently focuses on the real estate market, using blockchain payment software to simplify transactions and reduce speculation and fraud. (Source link)

10. Bitcoin infrastructure platform RunesFi completed US$400,000 in financing, with participation from Cogitent Ventures and others

Bitcoin infrastructure platform RunesFi announced the completion of US$400,000 in financing, with participation from Cogitent Ventures, Oddiyana Ventures, Lavender Capital, WeeHODL, Zephyrus Capital, and Samurai Starter. RunesFi leverages the Runes protocol to enhance DeFi functionality, aiming to build the first decentralized exchange (DEX) on Runes, an engraving machine for creating and distributing new runes, and various infrastructure products to support the Bitcoin DeFi ecosystem. and other functions, laying the foundation for the large-scale adoption of DeFi on Bitcoin. (Source link)

##2. CeFi

1 , Turkish financial technology company Colendi completed US$65 million in Series B financing, Citi Ventures led the investment

Turkish financial technology startup Colendi raised US$65 million in the latest Series B financing, estimated to be value reaches US$700 million. The financing was led by Citi Ventures, the venture capital arm of Citigroup, and included other investors including Migros Ticaret AS, Sepil Ventures, Re-Pie Asset Management, Finberg and Hedef Holding. Colendi co-founder and CEO Bulent Tekmen said existing investors also participated in the round.

It is reported that Turkey’s banking regulator has approved Colendi’s application to establish a digital bank in 2023. Tekmen said the oversubscribed Series B round provided the necessary capital to establish Colendi Bank. The company plans a dual listing in Istanbul and London and expects to be ready for an initial public offering (IPO) by 2026. Istanbul-based Colendi launched a new funding round in March and aims to raise more than $150 million by the end of the year. Tekmen expects Colendi to be valued at $1 billion upon completion of this funding round, making it a “unicorn” company.

Currently, Colendi has 17 million users in Turkey and aims to expand to populous emerging markets including Pakistan and Indonesia in the future, eventually reaching the goal of 1 billion users. The financing will advance Colendi’s mission to become a major digital banking entity in Europe, the Middle East and Africa (EMEA), the Gulf Cooperation Council (GCC) and Turkic countries. (Source link)

#2. Blockchain startup Alphaledger completed US$9.5 million in Series A financing, with EJF Capital leading the investment

U.S.A. Blockchain startup Alphaledger announced the completion of a $9.5 million Series A round of financing, with EJF Capital leading the investment and KDX participating. It is reported that Alphaledger used its permissioned blockchain to issue the first blockchain-based U.S. municipal bond, having previously completed a $6 million seed round in 2021. (Source link)

#3. DeFi

1. Ethereum re-pledge protocol Kelp completed $9 million in token financing at a valuation of $90 million, led by SCB Limited and Laser Digital

Kelp, the Ethereum re-pledge protocol, announced the completion of $9 million in token financing at a $90 million valuation. SCB Limited and Laser Digital (the cryptocurrency arm of Nomura Securities) led the investment, with Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM , Cypher Capital, GSR, HTX Ventures and DWF Ventures participated in the investment. In addition, angel investors such as Gitcoin’s Scott Moore, Frax Finance’s Sam Kazemian, Aave Chan Initiative’s Marc Zeller, Jump Crypto’s Saurabh Sharma, and AltLayer’s Amrit Kumar also participated in this round.

Protocol co-creator Amitej Gajjala said Kelp DAO expects to launch a governance token “soon” and is “currently undergoing legal and exchange due diligence.”

According to the Web3 asset data platform RootData, Kelp DAO is a triple income re-pledge protocol based on EigenLayer. rsETH is a Liquid Re-staking Token (LRT) issued by Kelp DAO, designed to provide liquidity for illiquid assets deposited into re-staking platforms such as EigenLayer. (Source link)

2. ELFi Protocol completed two rounds of strategic financing totaling US$5 million

Decentralized derivatives trading platform ELFi Protocol Completed two rounds of strategic financing totaling US$5 million, the latest round of which was led by IDG Capital and KuCoin Ventures.

ELFi Protocol is a decentralized derivatives trading platform with isolated position, cross-position models, USDT/USDC zero-risk high-yield, and super portfolio LSD assets. ELFi Protocol has launched on the Arbitrum testnet and is conducting public beta testing of Genesis NFTs. (Source link)

3. DeFi platform Zaros completed US$1.8 million in financing, with Cogitent Ventures and others participating in the investment

DeFi platform Zaros Announced the completion of US$1.8 million in financing, with participation from SNZ Holdings, Seven Capital, Cogitent Ventures and DCI Capital, as well as angel investors such as Antony Sassano, Fernando Martinelli, Kieran Warwick, Andy Chen and Kevin Lu.

According to the Web3 asset data platform RootData, Zaros is a liquidity center for on-chain derivatives, dedicated to bringing real income, capital efficiency and deep liquidity to LST holders. Zaros plans to launch the token and announce market-making partners at the end of May. (Source link)

4. The Scroll-based Launched Pencils Protocol (PenPad) completed a $2.1 million seed round, with participation from OKX Ventures and others

The Scroll-based Launched Pencils Protocol (PenPad) completed a $2.1 million seed round Round of financing, investors include OKX Ventures (formerly OKEx Blockdream Ventures), Animoca Brands, Galxe (formerly Project Galaxy), Gate Labs, Presto Labs, Sandy Peng, Ryan Li.

According to the Web3 asset data platform RootData, Pencils Protocol is a next-generation decentralized platform that provides auction services for blockchain native assets and RWA, and provides users with unified leverage income aggregation services to Maximize asset utilization.

5. The option protocol IVX completed a seed round of financing of US$1.2 million, led by Animoca Ventures and others

##The native option protocol IVX based on Berachain is in X platform completed a US$1.2 million seed round of financing, led by Animoca Ventures and AVID3, with participation from Big Brain Holdings, Web3Port, Cogient Ventures, Forbole, SerDAO, Autistic Waterfowl Venture Capital, and a group of angel investors. Valuation data has not yet been disclosed.

IVX is built on the Berachain Polaris EVM technology stack to provide zero-day expiration (0DTE) options for crypto assets in a permissionless and secure manner, with no liquidation risk for buyers and allowing users to Achieving high leverage exposure with minimal capital, its IVX Artio testnet is currently open. (Source link)

4. Games

#1. Solana GameFi project Song of Rising has received strategic investment from Softbank

Song of Rising, a GameFi project based on Solana, has completed a new round of strategic financing. Softbank Consulting, a subsidiary of SoftBank, participated in the lead investment. Both parties will accelerate the joint construction of the Solana GameFi ecosystem.

It is reported that Song of Rising was created by the Steam game development team. It is a creative pixel-style metaverse project that not only integrates NFT asset interaction, but also DeFi module construction and metaverse scene construction, allowing users to easily Fully enjoy the two-dimensional casual gaming experience brought by GameFi in a casual atmosphere. (Source link)

5. NFT & Metaverse

1 , collectibles design company Mighty Jaxx completed US$11 million in Series A+ financing

Singaporean collectibles design and production company Mighty Jaxx completed US$11 million in Series A+ financing to promote US and European growth.

ChainCatcher previously reported that Mighty Jaxx completed US$10 million in financing on August 12, 2021. This round of financing was led by Tencent, with participation from Korea Investment Partners, KB Investment and others. (Source link)

##

6. Others

1. The Runes Launchpad project RunesTerminal announced the completion of a round of financing, Cogitent Ventures led the investment

Runes Launchpad project RunesTerminal announced on its social platform the completion of a round of financing, the specific amount was not disclosed. Investors include Cogitent Ventures, CMS Holdings, Waterdrip Capital, Satoshi Lab, IAngels, Pentos Ventures, Zephyrus Capital, THE CMS, Ran Neuner (CNBC host), Laser Digital, and others.

RunesTerminal

is a Runes protocol infrastructure provider. Its products include Runes browser, Runes trading market, Runes encyclopedia, etc.

(Source link)

2. Web3 weather network WeatherXM Network completed US$7.7 million in Series A financing, led by Lightspeed Faction

Web3 weather network WeatherXM Network announced the completion of a $7.7 million Series A round of financing, led by Lightspeed Faction, Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Red Beard Ventures, Metaplanet, GS Futures, Consensys Mesh, Westerly Ventures, dlab , Eleftherios Diakomichalis and Juan Benet participated in the investment.

It is reported that the company plans to use the investment to grow the team and network, and continue research and development in crypto-enabled weather hardware and decentralized infrastructure. With more than 5,000 sites deployed in more than 80 countries, WeatherXM produces a variety of weather station hardware devices that collect local environmental data, working together to build a unique weather network of ground-based sensors.

According to RootData, a Web3 asset data platform, Weather XM is a Web3 weather network that uses cryptographic incentives to improve forecast accuracy. Weather XM's personal weather stations allow owners to become weather station operators and earn rewards for collecting and validating data. (Source link)

3. AI-driven creator community MUA DAO announced the completion of a new round of financing, with Wu Jihan and others participating in the investment

AI-driven creators Community MUA DAO announced the completion of a new round of financing, with investment institutions including Avalanche, ByteTrade, Rocktree Capital and individual investor Wu Jihan.

The team officially released the MUA-7648 universal asset multi-chain protocol, which supports one-click conversion of full-chain digital assets into 3D, accelerates asset modularization, and supports additional issuance and royalty recursion of asset split combinations to realize asset value High liquidity and promotion.

At the same time, the team released a new $MUA economic model, 45% of which will be used for community incentives. Users who actively participate in official activities, hold various MUA assets, and contribute to the MUA-7648 protocol will receive corresponding airdrop incentives based on their activity.

In addition, the MUA7648 x Mantle BigFun NFT-Fi joint airdrop party will be launched on May 30. The event is strongly supported by nearly 30 leading BTC and ETH NFT & Inscription projects and the Mantle Ecological Foundation. The series prize pool includes $MUA and $MNT, with a total value of over $500,000. The activity covers multiple gameplay methods such as creating and trading MUA7648 assets, invitation rankings, specific asset bonuses, etc. MUA will continue to launch a series of airdrop activities in the future.

4. Cryptocurrency governance consulting company MetaLeX completed a $2.75 million seed round of financing

MetaLeX, founded by cryptocurrency lawyer Gabriel Shapiro, announced the completion of a $2.75 million seed round of financing, valuing the company at $27.5 million. This round of financing was led by Cyber ​​Fund.

According to Web3 asset data platform RootData, MetaLeX is a new way to serve the legal, governance and operational needs of the crypto community through a unique set of on-chain protocols and Off-chain legal arrangements, purpose-built for the new cybernetic economy. (Source link)

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