Crypto Fundraising weekly
Dates: 01 – 07, Oct 2023

This week's biggest funding round

Blackbird raised $24M in a Series A funding round from Andreessen Horowitz (a16z crypto)*, Americen Express Ventures (Amex), QED Investors, Union Square Ventures (USV), Shine Capital, Variant Fund, Quality Branded, Rustic Canyon Group, Soulva, Brooks Reitz.

Blackbird is a restaurant discovery and rewards platform that enables users to discover, book, and earn rewards for dining at various restaurants. Users can explore curated restaurant lists, read reviews, make reservations through the app, and earn cashback rewards for their dining experiences, which can be redeemed for future meals or other perks.

Pre-seed and Seed investment rounds

NexGami (ex Light eSports, MetaVirus Games) raised $2M in a Seed funding round from Polygon Ventures, Fundamental Labs, Ledger Capital.

NexGami is a Web3 eSports platform, aiming to bridge the gap between traditional gaming and blockchain-based gamefi by offering seamless integration solutions and enhancing the gaming experience for users.

Cicada Partners raised $9.7M in a Pre-seed funding round from Choppa Capital*, Bitscale Capital, Bodhi Ventures, Shiliang Tang.

Cicada is a non-custodial credit risk management company specializing in institutional lending on public blockchains, aiming to enhance transparency and accountability in the industry. Founded by experienced credit professionals with a strong background in crypto lending, Cicada aims to facilitate risk-managed non-custodial lending products, reducing intermediary fees and counterparty risks.

Phaver raised $7M in a Seed funding round from Polygon Ventures, Nomad Capital, Symbolic Capital (ex Hyperedge Capital), dao5 (daofive), Foresight Ventures, Alphanonce, Factor Ventures, Superhero Capital, Swissborg Ventures.

Phaver is a Web3 social platform that empowers users with control over their data and social interactions. It connects users with friends and followers on other Web3 platforms and offers unique features like earning rewards for content creation and sharing. It supports decentralized social graphs such as Aave's Lens protocol and CyberConnect as well as various other on-chain assets.

Fairblock Network raised $2.5M in a Pre-seed funding round from Galileo*, Lemniscap, Dialectic, Robot Ventures, GSR Markets LTD, Chorus One, DoraHacks, Reverie.

Fairblock is a blockchain infrastructure and framework that focuses on conditional decryption and programmable privacy, providing users and developers with enhanced privacy and security for on-chain applications.

ParaFinance raised $5M in a Seed funding round from OKX Ventures (ex OKEx Blockdream Ventures)*, Kosmos Ventures, Uniswap Labs Ventures, Gate Labs.

ParaFinance is a decentralized lending platform built on the Arbitrum chain, providing efficient lending and deposit services. Users can access a wide range of collateral assets, stablecoins, and enjoy the benefits of complete decentralization, PARA token rewards, and various revenue sources.

L1 Advisors raised $1.6M in a Pre-seed funding round from VanEck, Ironclad Financial (ICF).

L1 Advisors is a platform designed to empower financial advisors and their clients in managing and growing their crypto assets. It provides essential tools like portfolio tracking, tailored trade recommendations, and access to DeFi protocols to make crypto investing accessible and efficient.

Convergence RFQ raised $2.5M in a Pre-seed funding round from C² Ventures*, Big Brain Holdings, Israel Blockchain Association, Auros Global.

Convergence RFQ is an on-chain crypto trading infrastructure product offering multi-leg buy, sell, and two-way quoting for various instruments, including spot and options contracts. It aims to bridge centralized exchange liquidity with decentralized pricing mechanisms, allowing traders to easily access counterparties and optimize trading strategies. Currently built on Solana, Convergence RFQ plans to expand its support to the Arbitrum network.

Other investment rounds

Hadean raised undisclosed amount in a Strategic  funding round from Yuga Labs*.

​​Hadean is a metaverse infrastructure developer. It provides developers with the tools and infrastructure they need to build and deploy large-scale, immersive virtual worlds. It aims to enhance the accessibility and inclusivity of the metaverse and collaborates with partners to foster a more open and equitable virtual ecosystem.

Ostium Labs raised $3.5M in a  funding round from General Catalyst, LocalGlobe, SIG DTI (a Susquehanna International Group Company), Balaji Srinivasan.

Ostium Labs is a company behind Ostium, a decentralized perpetuals exchange for real-world assets, such as commodities and forex, enabling transparent and efficient trading directly on the blockchain. It offers sub-second price feed updates and aims to make commodity and forex trading more accessible and transparent.

Burnt raised undisclosed amount in a Strategic  funding round from Circle Ventures*.

Burnt is a Web3 developer working to advance financial and creative freedom, and they are developing XION, a layer-1 blockchain tailored for consumer adoption. XION aims to simplify Web3 for non-technical users by abstracting crypto complexities. XION uses $USDC as its primary transactional currency, ensuring security, stability, and familiarity in its ecosystem by eliminating bridging risks, price volatility.

The Open Network (TON) raised undisclosed amount in a  funding round from MEXC Ventures*.

TON (The Open Network) is a fully decentralized layer-1 blockchain developed by Telegram. It offers fast transactions, low fees, user-friendly applications, and eco-friendly features. TON aims to unite various blockchains and the existing internet, providing a scalable and secure platform capable of hosting a wide range of applications and services.

AirDAO raised $7.5M in a  funding round from DWF Labs*.

AirDAO is a community-governed layer-one blockchain and Web3 dApp ecosystem powered by the AMB token. It focuses on scalability, security, and usability. AirDAO's mission is to provide an accessible and decentralized Web3 ecosystem, with a strong emphasis on user-centric design and continuous platform enhancements.

Paima Studios raised $1.4M in a Grants  funding round from Cardano*.

Paima Studios is a Web3 gaming company specializing in developing blockchain-based games and applications. Their flagship product, the Paima Engine, simplifies Web3 game development by abstracting blockchain complexities. Paima Studios aims to make Web3 gaming more accessible, introducing stateful NFTs that enhance player ownership and in-game experiences.

TomoChain raised undisclosed amount in a  funding round from DWF Labs*.

TomoChain is a highly scalable and secure public blockchain network that is compatible with the Ethereum Virtual Machine (EVM). It utilizes Proof-of-Stake Voting (PoSV) consensus, offering low transaction fees, fast confirmation times, and strong security guarantees. With a community-driven approach and ongoing developments such as the implementation of PoSV and exploration of Sharding, TomoChain aims to accelerate the adoption of web3 applications while maintaining economic sustainability through a balanced revenue model.

Accumulated Finance raised undisclosed amount in a  funding round from De Facto Capital, Curve Labs, Stake DAO.

Accumulated Finance is a liquid staking protocol that provides incentivized liquid staking & DeFi pools for low and medium cap proof-of-stake protocols. It operates under the governance of the ACFI token, set to be launched in early 2024, and aims to expand its services to multiple networks and deepen integrations with the Curve ecosystem, contributing to the growth of liquid staking and crypto trading pools for partner protocols.

Fountain raised undisclosed amount in a  funding round from Flamingo, Collab+Currency, Sfermion, Cozomo de’ Medici, 6529 Capital.

Fountain is a blockchain-based art brokerage platform that caters to both cryptoart enthusiasts and traditional art collectors. It serves as an aggregator for high-value art transactions on the blockchain, offering competitive bids and asks for major artworks. Fountain aims to bridge the gap between the traditional and digital art worlds, positioning itself as a comprehensive art service provider for digital objects.

* fund, that lead investment round