Crypto Fundraising weekly
Dates: 01 – 07, Sep 2024

This week's biggest funding round

Balance (E-PAL) raised $30M in a funding round from Andreessen Horowitz (a16z crypto)*, Galaxy Interactive*, Animoca Brands, K5 Global, The Cultural Leadership Fund (CLF), MBK, Amber Group, MARBLEX Corp., Aptos Labs, IOBC Capital, Leland Ventures, Halcyon Capital, UpHonest Capital, Taisu Ventures, Gate Labs, DWF Ventures, Bing Ventures, WAGMI Ventures, Steve Chen, Marc Merrill, Thomas Vu.

Balance, developed by the E-PAL team, is a Web3 gaming platform designed to revolutionize the gaming industry with blockchain and AI technologies. With a traffic pool of 2.4 million Web2 users, Balance aims to create an open, inclusive, and fair gaming ecosystem. The platform allows developers to build and promote games more efficiently, while offering players a diverse and personalized experience, driving growth within the Web3 gaming sector.

Pre-seed and Seed investment rounds

Blabla raised undisclosed amount in a Seed funding round from Nebula Investments, Blockchain Association of Europe (BCAEU), Hopechain.

BlaBla is a SocialFi project founded by former TikTok and Meta team members. It is backed by Morse and serves as the first decentralized app in the Morse ecosystem. BlaBla aims to transform traditional video platforms by incorporating a decentralized model with a transparent reward system. Users earn tokens by watching, interacting, and sharing content, while creators receive direct tips from users, ensuring fair compensation for all participants.

Puffpaw raised $6M in a Seed funding round from Lemniscap*, Volt Capital, The Spartan Group, Folius Ventures, Karatage, Seed Club Ventures, Hypersphere, Panga Capital, Everest Ventures Group (EVG), Corner Ventures, Social Graph Ventures, Nonce Classic, Meltem Demirors, Santiago R. Santos, David Phelps.

Puffpaw is a dePIN (decentralized physical infrastructure network) project on Berachain designed to bring vaping activities on-chain to incentivize smoking cessation. Puffpaw addresses two key issues in the vape industry: unmonitored nicotine use and inflated prices due to middlemen. By developing a unique vape device that tracks usage, Puffpaw transforms the vaping experience into a gamified platform. This integration of Real-World Assets (RWA) with blockchain gaming offers a novel approach to healthier habits.

IDA (HKDA) raised $6M in a Seed funding round from CMCC Global*, Hashed*, Hack VC, Anagram, GSR Markets LTD, Protagonist, Brinc, Chorus One, Kenetic, SNZ Holding, Yolo Investments, Raj Gokal.

IDA is a digital asset technology company focused on bridging the gap between Web2 and Web3 for businesses. Its first product, HKDA, is a fiat-referenced stablecoin built on public blockchain protocols, designed to facilitate seamless, 24/7/365 commerce and payments between Hong Kong and global markets.

Other investment rounds

Arris raised undisclosed amount in a  funding round from Cryptogram Venture (CGV), K24 Ventures, Dmail, Alco Holdings.

Arris is a comprehensive airdrop protocol designed to streamline Web3 on-chain interactions. By addressing common challenges like long time cycles and traffic creation, it offers users a more efficient experience. Powered by Arris AI, it optimizes interactive returns through the OiEarn model, which rewards users with points for increased transaction volume and monthly airdrops listed on mainstream exchanges. The task and reward system further incentivizes engagement.

Dropnest raised undisclosed amount in a  funding round from Manta Network.

Dropnest is an intuitive app that simplifies airdrop farming by offering a user-friendly one-click solution. It selects high-yield and trusted airdrop projects for users, ensuring safety through thorough due diligence and whitelisting. By transferring users’ funds into secure smart vaults, Dropnest automates the farming process, returning both the initial investment and a share of the rewards when the airdrop is released. This makes complex farming accessible to all, while providing a personalized dashboard for real-time updates.

Cycle Network raised undisclosed amount in a  funding round from Manta Network.

Cycle Network is a trustless Omni-chain ledger protocol using Omni Distributed Ledger Technology (ODLT) with OSCI and TCCP. It harmonizes blockchain networks, addressing challenges like user experience and dApp development complexities. Cycle enables secure, efficient, and low-cost interactions across different blockchain architectures, fostering interoperability and advancing decentralized application-centric innovation.

Vanilla Finance raised undisclosed amount in a  funding round from HTX Ventures (ex Huobi Ventures).

Vanilla Finance is a decentralized trading platform that allows users to own 1 Bitcoin for $10 while offering up to 10,000x leverage with no risk of liquidation. Its innovative “3rd Generation Contract Product” simplifies crypto trading, enabling users to profit by predicting small price changes over short periods. With flexible token options, holding periods, and target prices, Vanilla Finance delivers an accessible trading experience.

Yooldo raised undisclosed amount in a  funding round from ConsenSys.

Yooldo is a multiverse Play-to-Earn (P2E) game platform inspired by classic Korean fiction, offering a metaverse space for gamers to build their careers. The platform aims to create a sustainable P2E ecosystem with enjoyable experiences, social, and financial benefits. It has a partnership with the Cyber Galz NFT project, featuring the 'Trouble Punk: Cyber Galz' game, a casual action game with battle-royale elements, allowing players to engage in various game modes and events within the Yooldo ecosystem.

CryptoHunter World raised $2.8M in a Private  funding round from IOST Foundation, HG Ventures, Mindfulness Capital, Big Candle Capital, Layer-OTC.

Crypto Hunter World is a blockchain-based collectible RPG that merges Move-to-Earn (M2E) and Play-to-Earn (P2E) mechanics. Players explore a world filled with unknown creatures called Cryptids, earning rewards by walking in the real world, thanks to its GPS functionality. The game ensures a fair and secure environment with innovative anti-cheating systems and tokenomics that prevent hyperinflation.

Hypernative raised $16M in a Series A  funding round from Quantstamp*, Bloccelerate, Boldstart Ventures, Borderless Capital, IBI Tech Fund, CMT Digital, Knollwood Investment Advisory, Re7 Capital.

Hypernative is a Web3 security platform offering real-time monitoring and risk management tools to safeguard blockchain projects from potential threats. Using AI and machine learning, it analyzes both on-chain and off-chain data to detect over 200 types of risks, including smart contract vulnerabilities, bridge security flaws, and market manipulations. By identifying these risks before they escalate, Hypernative enables developers and organizations to take proactive measures, ensuring the security and stability of their decentralized applications.

UXLINK raised undisclosed amount in a  funding round from Animoca Brands.

UXLINK is a Web3 social platform designed for mass adoption, offering users the ability to create social assets and participate in cryptocurrency trading. This innovative platform includes a range of modularized Dapps covering onboarding, social graph formation, group tools, and socialized trading.

onocoy raised $0.9M in a Private  funding round from Smart Island Capital.

Onocoy is a community-powered GNSS reference station network offering high-quality RTK corrections for ultra-precise positioning. By incentivizing operators with rewards, Onocoy ensures reliable data and quickly grows into the densest global GNSS network. This shared infrastructure, powered by blockchain technology, provides professional-grade GNSS data with global coverage and cost efficiency. Onocoy’s decentralized platform supports a range of industries, including agriculture, construction, land management, and autonomous systems.

Treble Technologies raised $12.2M in a Series A  funding round from Kompas VC*, Frumtak Ventures, European Investment Bank (EIB), Omega Venture Partners.

Treble Technologies, an Icelandic sound simulation startup, specializes in creating immersive audio experiences for various industries, including construction, automotive, gaming, and the metaverse. The company has developed the world’s first cloud-based sound simulation platform, enabling accurate and efficient sound design for buildings, automobiles, and technology products. Treble’s proprietary technology allows users to explore spatial audio in virtual environments, offering a transformative experience in sound simulation.

Kroma raised undisclosed amount in a Series A  funding round from Gate Ventures, Imagine Creation Combinator (ICC), Planetarium, Presto Labs, RFD Capital, Taisu Ventures, The Spartan Group, Waterdrip Capital, Iskra, Overtake, Wellxy, Xstar, Owlto Finance.

Kroma is a Layer 2 scaling solution focused on developing a universal ZK Rollup based on the Optimism Bedrock architecture. Currently, it operates as an Optimistic Rollup with ZK fault proofs using a zkEVM. The project aims to transition to a full ZK Rollup once generating ZK proofs becomes more cost-efficient and faster. Kroma is designed to provide enhanced scalability and security for Ethereum-based applications, with ongoing testing and optimization on the Sepolia testnet.

Pencils Protocol (PenPad) raised undisclosed amount in a Strategic  funding round from Taisu Ventures*, DePIN X, Bing Ventures.

Pencils Protocol is an innovative auction platform and yield aggregator on Scroll. By integrating zero-knowledge rollups, proof-of-humanity logins, and on-chain verifiable randomness, Pencils Protocol offers a fair launch platform that empowers builders with a comprehensive toolkit of Zk solutions, leveraging the native features of Scroll for enhanced functionality and security.

TrendX raised $5M in a Series A  funding round from AZH, Coinstash, Frontier Research, Tido Capital, Promontory Technologies, Coresky, BullPerks.

TrendX is an AI-powered Web3 platform designed to track trends and facilitate intelligent trading. TrendX offers features like trend discovery, sentiment analysis, and both primary and secondary trading opportunities, leveraging advanced algorithms for informed investment strategies.

* fund, that lead investment round