Crypto Fundraising weekly
Dates: 03 – 09, Sep 2023

This week's biggest funding round

Story Protocol raised $54M in a funding round from Andreessen Horowitz (a16z crypto)*, Hashed, Endeavor, Samsung Next.

Story Protocol is a web3 technology that aims to transform storytelling by providing infrastructure for creators to build narrative universes and imaginary worlds using open source principles. It enables the creation, governance, and licensing of intellectual property on the blockchain, allowing for the development of an ecosystem of modular story components that can be remixed and combined in new and innovative ways.

Pre-seed and Seed investment rounds

OpenCover raised $4.6M in a Seed funding round from NFX*, Jump Crypto*, Base Ecosystem Fund, Alliance DAO (ex DeFi Alliance), Orange DAO, Village Global.

OpenCover is a DeFi risk mitigation platform that offers standardized, unbiased industry data to enhance the safety and accessibility of DeFi for all users. By gathering data from on-chain events, smart contract state, and transaction traces, it creates risk profiles for DeFi protocols. OpenCover also provides users with a range of tools and resources for understanding and managing their DeFi risk, including real-time risk dashboards, a risk library, and risk management assistance.

Helix raised $2M in a Pre-seed funding round from Saison Capital*, Superscrypt*, Emurgo Ventures, Comma3 Ventures, Outlier Ventures, Emoote.

Helix is a blockchain-based platform designed to connect crypto lenders with real-world assets, enabling access to off-chain private credit in emerging markets. It offers a secure and transparent way for lenders to participate in lending while providing borrowers with an efficient means of raising capital. Though still in development, Helix has the potential to transform how credit is accessed in emerging markets, potentially fostering economic growth and financial inclusion.

GAM3S (ex Polkastarter Gaming) raised $2M in a Seed funding round from Mechanism Capital, Polygon Ventures, Double Peak Group, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, SnackClub, Emurgo Ventures, Eden Network, MixMarvel DAO Venture, 4SV, TKX CAPITAL, SkyVision Capital, Compute Ventures.

​​Web3 gaming superApp

TRLab raised $5M in a Seed funding round from Hivemind*, OKX Ventures (ex OKEx Blockdream Ventures)*, Hashkey Capital.

TRLab is a platform for discovering and collecting NFT art from the world's leading artists. TRLab's mission is to offer extraordinary NFT works to collectors and art lovers alike, as well as to empower the next generation of the art community by unlocking access to groundbreaking projects. In addition to its auction platform and concierge team, TRLab offers end-to-end service for both artists and collectors to engage with NFT art from digital production to direct issuance.

Trident Digital raised $8M in a Seed funding round from White Star Capital*, New Form Capital*, CMT Digital, Joint Effects, Permit Ventures.

Trident Digital is a crypto lending company founded by former Coinbase executives. It specializes in creating financial structures to enhance the crypto ecosystem's growth, offering a transparent platform for lenders and borrowers, a high-yield product secured by US Treasuries, and solutions for liquidity, security, and scalability in the digital asset space.

D3 Global raised $5M in a Seed funding round from Shima Capital*, Maelstrom, Dispersion Capital, Infinite Capital.

D3 Global asserts its ownership of "patent-pending technology" that promises to enhance interoperability for both web2 and web3 iterations of the internet, concurrently boosting utility and security. D3 intends to apply for and acquire new Top Level Domains during ICANN's upcoming application period, with the objective of providing inherently secure identities supported across all web browsers and devices.

Other investment rounds

Onboard raised $1.9M in a Strategic  funding round from Hashed Emergent*, CMT Digital, Adaverse, Base Ecosystem Fund.

Onboard offers seamless crypto-to-naira conversions via its wallet. It prioritizes security by using email access instead of seed phrases. It also provides a P2P marketplace for merchants, and a global stablecoin spending solution.

Brine Fi raised $16.5M in a  funding round from Pantera Capital*, Elevation Capital, Starkware, The Spartan Group, Goodwater Capital, Protofund.

Brine Fi, powered by Ethereum scaling system StarkWare, is a non-custodial, decentralized orderbook that allows privacy for trading positions via so-called zero-knowledge proofs. Traders can thus place large orders without worrying about front-running or spooking others.

Avantis raised undisclosed amount in a  funding round from Base Ecosystem Fund*.

Avantis Finance is a decentralized finance (DeFi) protocol designed for leverage trading in cryptocurrencies and forex. It employs a unique dynamic risk tranching system to protect traders from substantial price movements. Avantis Finance has the potential to revolutionize cryptocurrency trading by offering decentralization, transparency, and efficiency.

BSX raised undisclosed amount in a  funding round from Base Ecosystem Fund*.

BSX (The Bermuda Stock Exchange) is an international exchange dedicated to providing a secure and efficient trading marketplace for various financial instruments, including equities, fixed income, derivatives, and commodities. Regulated by the Bermuda Monetary Authority and a member of the World Federation of Exchanges, the BSX is known for its commitment to innovation and technological advancement. BSX aims to democratize onchain trading with its decentralized limit order book.

Paragraph raised undisclosed amount in a  funding round from Base Ecosystem Fund*.

Paragraph is a Web3 publishing platform that helps Web3 writers, DAOs and NFT communities monetize their content through an all-in-one newsletter service.

Truflation raised undisclosed amount in a  funding round from Base Ecosystem Fund*.

Truflation is an economic data aggregator that provides independent, unbiased, real-time data both on-chain and off-chain. It provides a more accurate and transparent method for monitoring inflation, serving individuals, investors, companies, and institutions in making informed financial decisions. Truflation is the driving force behind inflation-protected Web3 applications and blockchain economies.

Socket Protocol raised $5M in a Strategic  funding round from Coinbase Ventures*, Framework Ventures*.

Socket is a versatile interoperability protocol facilitating secure, efficient data, and asset transfers across blockchains. It's not a bridge or cross-chain app, but a flexible infrastructure for developers to effortlessly incorporate interoperability into their applications. Socket empowers developers to tailor their solutions for diverse use cases and objectives, considering factors such as trust, latency, and generalizability.

GenTwo raised $15M in a Series A  funding round from Point72 Ventures*.

GenTwo is a Swiss B2B fintech global player, broadening investment horizons by rendering all assets investable. Its proprietary platform GenTwo PRO empowers professionals to craft limitless, branded investment solutions. Founded in 2018, GenTwo serves 250+ clients across 26 countries, facilitating 1,200+ investment products. By 2023, it manages over USD 3 billion in assets and boasts a 70+ strong international team. GenTwo Digital, a GenTwo subsidiary, bridges the traditional and digital asset realms.

PrimeVault raised undisclosed amount in a  funding round from Y Combinator, Arrington Capital, Hashkey Capital, Cogitent Ventures, Alchemy Ventures, Near Foundation.

PrimeVault is a platform designed for institutional and enterprise customers to manage their digital asset operations at scale. It offers services such as secure asset custody, customizable security settings, direct access to various trading venues, risk management tools, and compliance solutions.

* fund, that lead investment round