Crypto Fundraising weekly
Dates: 03 – 09, Mar 2024

This week's biggest funding round

Optimism raised $89M in a funding round from .

Optimism is a Layer 2 scaling solution for Ethereum that can support all of Ethereum's Dapps. Instead of running all computation and data on the Ethereum network, Optimism puts all transaction data on-chain and runs computation off-chain, increasing Ethereum's transactions per second and decreasing transaction fees.

Pre-seed and Seed investment rounds

Bison Labs raised undisclosed amount in a Seed funding round from Portal Ventures*, Bitcoin Magazine, UTXO Management, Waterdrip Capital, Bitcoin Startup Lab, SatoshiLab, LBank, YBB Foundation, domo.

Bison Labs revolutionizes Bitcoin by enabling developers to create diverse applications directly on its blockchain, introducing general programmability, smart contracts, and financial tools while leveraging Bitcoin's security. With features like ZK-STARK rollup and Ordinals for data storage, Bison enhances transaction speeds and empowers users through front-end proof verification.

Cosmology raised $5M in a Seed funding round from Galileo*, Lemniscap*, Dispersion Capital, Hashkey Capital, Tuesday Capital, Osmosis Foundation, Chorus One, Informal Systems, Zaki Manian, Cogitent Ventures, HF0, vVv Exchange, Reverie, Forbole, Kevin Lin, Xavier Meegan, Aidan Stride, Batuhan Dasgin.

Cosmology simplifies Web3 app development in the Interchain Ecosystem, providing cutting-edge tools for seamless interactions across the Internet of Blockchains, particularly with Cosmos and CosmWasm. With products like Chain Registry, Cosmos Kit, and CWScript, Cosmology empowers developers to efficiently build, deploy, and interact with applications in the Cosmos ecosystem.

Oyl raised $3M in a Pre-seed funding round from Foresight Ventures, Flamingo, Udi Wertheimer, UTXO Management, Web3.com Ventures, Maelstrom, Ethos Fund, Public Works, Mask Network, Antalpha Ventures, AVID3, Borderless Capital, Kanosei Ventures, Pulsar, Gmoney, Arthur Hayes, domo, Soby, NickH, Timshel, John Scianna, Munam, HDF humble defi farmer, Eric Chung.

Oyl is constructing Oyl Wallet, a dedicated trading platform for the Bitcoin ecosystem. This platform incorporates in-wallet trading features for Bitcoin, a market aggregation tool for BRC-20 tokens, and integration with the Bitcoin-focused DeFi platform OmniSat. Users can conveniently trade Ordinals, BRC-20s, and Bitcoin native assets directly within their wallet.

Synnax Technologies raised $1M in a Pre-seed funding round from No Limit Holdings (NLH)*, Bitscale Capital, Edessa Capital, Everstake Capital, GameFi Ventures, Ausvic Capital, Hex Trust, Kenetic, Moonvault Capital, Ryze Labs, Typhon Ventures, MH Ventures, Drops Ventures.

Synnax is an innovative platform introducing AI Credit Intelligence for privacy-focused credit analysis, empowering businesses to secure credit ratings while safeguarding data privacy. Utilizing blockchain, encryption, and decentralized AI, Synnax offers manipulation-resistant credit ratings and real-time credit intelligence, providing transparent methodologies and predictive financial metrics for a holistic view of a company's financial performance.

Hedgehog Protocol raised $1.5M in a Pre-seed funding round from Marshland Capital, Tenzor Capital, 3Commas Capital, Nothing Research, ZBS Capital, Staked VC (ex StakelyVC), Igor Barinov, Vasiliy Shapovalov, Mike Lobanov, Banteg, Brian D Evans, ivangbi, Danish Chaudhry, Gareth, Amplice.

Hedgehog Protocol is a modular synthetic blockspace platform designed to address the issue of volatile cryptocurrency transaction fees. It allows users to hedge, trade, and profit from gas fees through various strategies, including buying or selling BaseFee on automated market makers (AMMs) and participating in staking and liquidity pool activities. The protocol employs a generalized CDP model, inspired by Liquity, providing flexibility to extend its application to various on-chain derivatives beyond BaseFee.

Firewall raised $3.7M in a Pre-seed funding round from North Island Ventures (NIV)*, Breyer Capital*, Hack VC*, Finality Capital, Kain Warwick, Nathan McCauley, Jordan Momtazi, Yaoqi Jia, Smokey The Bera, Tim Ogilvie, Xinshu Dong, Jack Bounce, Pranay Mohan.

Firewall is a blockchain security infrastructure firm specializing in preventing smart contract exploits. Firewall uses rollups and programmable transaction finalization rules to intercept exploits before recording them on the blockchain. Their solution, incorporating real-time blocking, non-custodial mechanisms, and programmable finality, aims to enhance the security of smart contract applications on rollups, eliminate exploits, and ensure no downtime for vulnerable applications.

Utila raised $11.5M in a Seed funding round from NFX*, Wing Venture Capital*, Framework Ventures, Fasanara Capital, North Island Ventures (NIV), Republic Capital (ex Republic Labs), Liquid 2 Ventures, Inspired Capital, Lyrik Ventures, DCG Expeditions, Launchpad VC, Shima Capital, K5 Global, Big Brain Holdings, Impatient Ventures, Cyverse Capital, Starkware, Psalion VC, Balaji Srinivasan, Surojit Chatterjee, Charlie Songhurst.

Utila is an institutional crypto platform providing a secure, multi-chain non-custodial wallet for organizations to manage their digital assets. With a focus on user-friendly design and powered by multi-party computation (MPC) key management, Utila aims to address the complexities of existing institutional crypto wallets, offering accessibility, usability, and enhanced security for enterprises and crypto-native firms alike.

Sahara Labs raised $6M in a Seed funding round from Polychain Capital*, Sequoia Capital, Matrix Partners, Samsung Next, dao5 (daofive), GeekCartel, Nomad Capital, Canonical Crypto, Motherson Group, Dispersion Capital, Alumni Ventures (AVG), Tangent Ventures, Coho Deeptech, Sandeep Nailwal.

Sahara is a decentralized AI network offering Sahara Knowledge Agent (KA) and Sahara Data. It enables the creation of customized, autonomous AI agents, compensating contributors directly and utilizing blockchain to track data and rewards in a privacy-preserving manner. Sahara's suite aims to revolutionize the AI industry, providing individuals and businesses with monetization opportunities and high-value data services for secure AI model training.

Agio Ratings raised $4.6M in a Seed funding round from Superscrypt*, Portage Ventures, MS&AD Ventures.

Agio Ratings is a risk assessment platform specializing in digital assets, offering intelligent pricing risk analysis for firms with exposure to the digital asset market. Utilizing over 1,000 variables from on-chain and off-chain sources, Agio's models predict defaults in a manner comparable to leading traditional finance models, providing continuous risk assessment, monitoring, and insights to help firms protect capital, underwrite credit, and ensure long-term success in the evolving digital asset landscape.

Privasea raised $5M in a Seed funding round from Binance Labs Fund, Gate Labs, MH Ventures, K300 Ventures, Crypto Times, Bully Ventures, Oxbull, Basics Capital, Dewhales Capital, The DuckDao, TPC Club (The presale club), NxGen, Zephyrus Capital, GuanxiDAO, 1NVST.

Privasea AI Network is a solution addressing data privacy challenges in artificial intelligence. Integrating Fully Homomorphic Encryption with blockchain-based incentives, it revolutionizes machine learning inferencing, enhances privacy, and facilitates collaborative AI computations while ensuring secure and private AI computing experiences for users.

Stack raised $3M in a Seed funding round from Archetype*, Coinbase Ventures, Scalar Capital, A Capital, Balaji Srinivasan, Henri Stern, Cooper Turley, Colin Armstrong, Nadav Hollander.

Stack is a platform that enables the creation and management of on-chain points systems, revolutionizing loyalty programs by providing affordable and secure solutions that discourage abuse. Through its framework, users can allocate, track, and redeem points for various assets, including ERC-20 tokens and ETH, while maintaining transparency and trustlessness in the process.

Other investment rounds

Poolz Finance raised undisclosed amount in a  funding round from Gotbit Hedge Fund.

Poolz Finance is a decentralized cross-chain Initial DEX Offering (IDO) platform that facilitates fundraising for crypto projects before listing. It operates as a fully decentralized swapping protocol, allowing startups to auction their tokens and bootstrap liquidity, connecting innovators with early-stage users. With a focus on secure and intuitive access to promising projects, Poolz supports liquidity bootstrapping, OTC trading, NFT bid auctions, and serves as a launchpad for crypto projects, utilizing its native token POOLX for IDO participation and governance decisions.

UXUY raised undisclosed amount in a  funding round from Binance Labs Fund.

UXUY is a cross-chain liquidity aggregation protocol and next-gen MPC-based decentralized trading platform that enables seamless token swapping across multiple chains. The platform offers customizable widgets that can be easily integrated into DApps, allowing developers to focus on building without worrying about integrating disparate bridges and DEXs. UXUY aims to provide a comprehensive stablecoin liquidity pool and a CEX-like user experience while supporting mainstream public chains and actively participating in the building of the "Unclaimed" ecosystem.

Cellula raised undisclosed amount in a  funding round from Binance Labs Fund.

Cellula is a fully on-chain autonomous life simulation strategy game that embraces composability and persistence. This innovative game is at the forefront of developing fully on-chain games, leveraging artificial intelligence to deliver limitless composability and persistence within the realm of strategy gaming.

Derivio raised undisclosed amount in a  funding round from Binance Labs Fund.

Derivio is a structured derivatives ecosystem offering synthetic derivatives that finely balance risk-adjusted rewards for traders through smart leverage. With a vision focused on marketability of operational risks in crypto, Derivio aims to create a comprehensive on-chain derivatives platform catering to various expertise levels, providing options such as perpetual futures, interest rate derivatives, stablecoins, and more. The platform emphasizes a fully decentralized architecture, algorithmic risk protection, and community-driven governance to foster a productive, sustainable, and innovative environment in the evolving landscape of decentralized finance (DeFi).

QnA3 AI raised undisclosed amount in a  funding round from Binance Labs Fund.

QnA3 AI is an AI-powered Web3 knowledge engine and intent-centric trading platform, providing a one-click gateway to the world of Web3 information. It empowers users to make informed cryptocurrency investment decisions by offering not only access to data but also sophisticated logical analysis capabilities. With features like extended query quotas, interactive question engagement, advertisement and sponsorship opportunities, incentives tied to trading functions, enhanced governance, and exclusive content access, QnA3 AI fosters a holistic community ecosystem, leveraging the GPT token for AI features and governance.

Zama raised $73M in a Series A  funding round from Multicoin Capital*, Protocol Labs*, Metaplanet, Blockchange Ventures, VSquared Ventures, Stake Capital, Portal Ventures, Anatoly Yakovenko, Tarun Chitra, Juan Benet, Gavin Wood, Julien Bouteloup.

Zama is an open-source cryptography company, specializes in state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain and AI. Their user-friendly FHE libraries empower developers, from individuals to enterprises, to easily integrate end-to-end encryption without deep cryptography knowledge. Zama's performance focus has led to a 20x speed improvement in their FHE scheme, with plans for a 100x boost, enabling critical use cases in confidential blockchain and AI, and anticipating dedicated FHE hardware accelerators for web-scale applications like confidential Large Language Models (LLMs) and encrypted Software-as-a-Service (SaaS).

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

Beoble is a Web3 messaging and social platform that facilitates secure wallet-to-wallet communication, emphasizing end-to-end encryption and decentralized connectivity. The platform introduces the Communication Delivery Graph (CDG) to ensure privacy in both content and delivery path, enhancing user data control. Beoble adopts a community-owned model, rewarding users with points for interactions and promoting equitable revenue distribution among chatroom members.

Blackwing raised $4.5M in a Strategic  funding round from Hashed*, gumi Cryptos Capital (gCC)*, South Park Commons, AlphaLab Capital, Aptos Labs, Arche Fund (Coin98 Ventures), Kyber Ventures, Saison Capital, K300 Ventures, DCF God, NaniXBT, 0xbrent, Anand Iyer, Fiskantes, icebergy, 0xRooter, Julian Koh, Tom Howard, Andy, Cygaar.

Blackwing is a modular layer 2 blockchain designed for liquidation-free leveraged trading, utilizing innovative Limitless Pools to enable users to trade with borrowed funds without facing forced liquidations. Built on Initia's foundation, Blackwing offers seamless cross-chain trading, allowing users to trade assets from any modular app chain without transferring funds across different networks, promoting cost savings and enhanced security.

Masa raised $8.8M in a Public sale  funding round from .

Masa is building a decentralized Zk-data marketplace and network, envisioning a "decentralized Google" for the AI era. With a focus on privacy, Masa aims to build an open and incentivized economy for personal data, offering features like Masa Analytics for cookieless insights, Masa Growth campaigns for community engagement, and a developer hub for building privacy-preserving decentralized applications and AI models on their zk-data network.

CryptoSlam raised undisclosed amount in a  funding round from Spirit Blockchain.

Leading provider of data and transparency for the NFT industry.

The Open Network (TON) raised $8M in a  funding round from Mirana 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.

SX Network raised undisclosed amount in a Strategic  funding round from Draper Dragon*, CMCC Global, Coin Merge Strategy (CMS).

SX Network is an EVM-compatible blockchain designed to disrupt the sports betting industry, withlow gas fees without compromising security. Built with Polygon's SDK, it leverages Polygon's security through checkpointing and enables developers to easily port Ethereum or Polygon dApps to SX Network, benefiting from a shared network effect. SX Bet, a peer-to-peer web3 betting exchange on SX Network, offers competitive odds, transparency through on-chain recording of bets, and open access without restrictions for winning bettors, providing a unique and innovative approach to sports betting.

Baanx raised $20M in a Series A  funding round from Ledger, Tezos, Chiron, British Business Bank.

Baanx is a U.K.-based crypto payments specialist authorized by the Financial Conduct Authority (FCA) and is engaged in developing non-custodial, on-chain products for cryptocurrency payments. Through its B2B2C platform, Baanx offers API-driven digital financial services, including debit cards, wallets, IBANs, and more, with a focus on white-label solutions to promote blockchain and digital asset adoption for businesses and consumers.

BounceBit raised undisclosed amount in a Strategic  funding round from OKX Ventures (ex OKEx Blockdream Ventures)*.

BounceBit is a Bitcoin restaking protocol and the native BTC restaking chain, developed as the sister company of Bounce Finance. Featuring a dual-token staking system secured by both Bitcoin and BounceBit tokens, it introduces a unique blend of DeFi and CeFi yield mechanisms, enabling BTC holders to earn yields through native validator staking, DeFi ecosystems, and a CeFi mirroring mechanism.

TokenFi raised $10M in a  funding round from DWF Labs*.

TokenFi is an all-in-one tokenization platform enabling users to create tokens and tokenize real-world assets (RWA) effortlessly through a user-friendly interface, without the need for coding. With a projected industry value of $16 trillion by 2030, TokenFi is poised to disrupt the tokenization market, backed by the expertise of the Floki Core Team and powered by the $TOKEN utility token.

Taproot Labs raised undisclosed amount in a  funding round from Waterdrip Capital, SatoshiLab, Negentropy Capital.

Taproot Labs is a company innovating in the Bitcoin ecosystem with its focus on Layer2 development and a multi-chain asset trading platform utilizing the Lightning Network and Taproot Assets Protocol. Through its offerings, Taproot Chain and Taproot Exchange, the company aims to bring stability, high speed, and security to the BTC ecosystem, featuring innovations like low transaction costs, faster transactions, enhanced scalability, widespread adoption, and native innovation.

IO Research raised $30M in a Series A  funding round from Hack VC*, Multicoin Capital, 6th Man Ventures (6MV), M13, Delphi Digital, Solana Labs, Aptos Labs, Foresight Ventures, LongHash Ventures, SevenX Ventures, ArkStream Capital, Animoca Brands, Continue Capital, MH Ventures, OKX Ventures (ex OKEx Blockdream Ventures), Anatoly Yakovenko, Yat Siu, Mohammad Shaikh, Jin Kang, Avery Ching.

IO Research is an AI-focused blockchain startup with its product, io net, a decentralized computing network. io net aggregates GPUs from underutilized sources, providing cost-efficient and customizable access to significant computing power for machine learning tasks like training, hyperparameter tuning, and reinforcement learning. The platform aims to address challenges in availability, choice, and cost associated with centralized cloud services.

BitSmiley raised undisclosed amount in a Strategic  funding round from KuCoin Ventures*.

bitSmiley is a protocol within the Bitcoin blockchain, featuring a decentralized stablecoin, a trustless lending platform, and a derivatives protocol under the Fintegra framework. Its flagship product, bitUSD, is a BTC-based over-collateralized stablecoin that promotes stable value alignment and transparency on the Bitcoin blockchain, while bitSmiley's broader ecosystem includes bitLending for peer-to-peer lending and a Credit Default Swaps (CDS) segment to redefine financial derivatives in the Bitcoin DeFi landscape.

MirrorL2 raised undisclosed amount in a  funding round from UTXO Management, Conflux Network, IMO Ventures.

MirrorL2 is a decentralized Proof-of-Stake (POS) BTC Layer 2 (L2) network compatible with the Ethereum Virtual Machine (EVM) and utilizing BTC as gas. It ensures decentralization through POS nodes, fully collateralizes 100% of BTC Layer 1 (L1) assets for security, and supports EVM compatibility for seamless DApp integration. MirrorL2 employs a unique design with staked BTC assets, offering decentralized asset custody through Multi-Signature Groups, ensuring transparency and reliability in the custody process.

Scallop raised $3M in a Strategic  funding round from Coin Merge Strategy (CMS)*, 6th Man Ventures (6MV)*, KuCoin Labs, Side Door Ventures, Oak Grove Ventures, Signum Capital, Blockchain Founders Fund, Cypher Capital, Mysten Labs, Kyros Ventures, 8186 Capital, 7UpDAO, LBANK Labs, ViaBTC Capital, Cetus Protocol, Zellic, AC Capital, Criterion VC, UOB Venture Management.

Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation. By emphasizing institutional-grade quality, enhanced composability, and robust security, we are dedicated to building a dynamic money market that offers high-interest lending, low-fee borrowing, AMM, and digital asset self-administration tool on a unified platform and offering an SDK for professional traders.


CredShields raised $1M in a Strategic  funding round from Draper Associates*.

CredShields is a cybersecurity firm specializing in Web3 security focused on developing solutions to safeguard digital assets and ensuring the integrity of blockchain-based transactions, with a particular emphasis on advancing automated and simplified smart contract auditing through its tool, SolidityScan.

* fund, that lead investment round