Crypto Fundraising weekly
Dates: 05 – 11, May 2024

This week's biggest funding round

Sophon raised $60M in a Public sale funding round from Maven 11 Capital, Paper Ventures, The Spartan Group, SevenX Ventures.

Modular blockchain

Pre-seed and Seed investment rounds

BAC Games raised $1.5M in a Seed funding round from Hash Global, Gate Ventures, Matr1x, Stratified Capital, W Labs DAO (Watermelon Labs), Nothing Research, Ash Crypto.

BAC Games is the inaugural Web3 game platform on Blast, offering a diverse range of exciting games. The first game in the series, BAC (Blast Auto Club), is a relaxing HTML5 club racing game built on the Blast blockchain, ensuring a secure and transparent gaming environment while providing players with fun learning experiences about digital racing and blockchain technology. Exclusive use of BAC tokens within BAC Games drives the in-game economic system, enhancing player interactions and rewarding mechanisms, with a mission to revolutionize WEB3 games through social interactions and create a vibrant digital cyberspace for innovative and interactive gaming experiences.

Arbelos Markets raised $28M in a Seed funding round from Dragonfly Capital*, Room40 Ventures, Selini Capital, Breed VC, FalconX, Circle Ventures, Paxos, Chorus One, P2 Ventures (Polygon Ventures), Starkware, Immutable, Deribit.

Arbelos Markets is a trading firm providing principal liquidity across crypto derivatives markets, ranging from high-touch to programmatic.

Seeds Labs (Bladerite) raised $12M in a Seed funding round from Blizzard, Krust Universe, Hashkey Capital, UOB Venture Management, Signum Capital, Infinity Ventures Crypto (IVC), Emoote, Solana Foundation.

Seeds Labs is a game developer specializing in high-quality games and infrastructure, with a focus on creating a fair and transparent economic system within the gaming industry. Their flagship product, Bladerite, is a Web3 melee battle royale game released globally this month, featuring innovative gameplay mechanics inspired by fighting games and action games. Through their dedication to new game business models, Seeds Labs aims to alleviate tensions between players and developers while ensuring sustainable revenue for continued game development investment.

Glacis raised $2.1M in a Seed funding round from Arrington Capital*, Paper Ventures*, Bitscale Capital, Protagonist, Edessa Capital, Collin Myers, LukeYoungblood, Steve Kokinos.

Glacis is a versatile protocol serving as a Firewall, Router, and universal adaptor for chain-agnostic messaging, facilitating seamless cross-chain operations. Developers utilize Glacis to define security requirements and routing logic for messages sent across different blockchain networks, enabling simplified and secure decentralized application (dApp) development. By integrating with cross-chain General Messaging Passing protocols (GMPs) like Axelar and Wormhole, Glacis empowers developers to focus on creating robust applications without the complexities of managing multiple blockchain networks.

AgriDex raised $5M in a Pre-seed funding round from Endeavour Ventures, Parrogate, Oldenburg Vineyards.

AgriDex is a Solana-backed RWA marketplace revolutionizing the global agricultural industry by providing a transparent and integrated platform with its own internal economics. Leveraging Fiat-on-Chain, smart contracts, and participation vetting, AgriDex offers a compliant and streamlined solution for agricultural supply chain management, empowering participants in the agriculture sector to efficiently engage in transparent transactions.

Arch Network raised $7M in a Seed funding round from Multicoin Capital*, Portal Ventures, Big Brain Holdings, OKX Ventures (ex OKEx Blockdream Ventures), Coin Merge Strategy (CMS), Tangent Ventures, UTXO Management, ABCDE Capital, Cypher Capital, Newman Capital, Santiago R. Santos, Muneeb Ali, Jason Choi, Aaron Henshaw.

Arch Network is the Bitcoin-native application platform, bridging Bitcoin's sovereignty principles with full programmability and execution capabilities. By leveraging Solana's efficiency and Bitcoin's liquidity and security, Arch enables developers to build decentralized applications (dApps) directly on Bitcoin's native chain, unlocking new possibilities while upholding core principles of decentralization and security. Joining Arch's vibrant developer community offers access to innovative contract standards and the opportunity to shape the future of blockchain innovation on Bitcoin's Layer 1 through incentivized test nets and collaborative development efforts.

DLC Link raised undisclosed amount in a Seed funding round from Cryptogram Venture (CGV).

DLC Link introduces a trustless bridge to Ethereum's DeFi ecosystem, utilizing Discreet Log Contracts (DLCs) to securely represent Bitcoin on the Ethereum blockchain as dlcBTC tokens. With DLCs, users retain full control of their assets, participating in DeFi protocols without relying on intermediaries or custodians, ensuring robust security and user sovereignty. DLC Link's innovative approach enables seamless cross-chain communication, offering distinct advantages over traditional wrapped Bitcoin (wBTC) solutions, including self-wrapping, faster transactions, and competitive fees.

Lagrange raised $13.5M in a Seed funding round from Founders fund*, Archetype, 1kx, Maven 11 Capital, Fenbushi Capital, Volt Capital, CMT Digital, Mantle Network, Nikil Viswanathan, Joe Lau, David Phelps, Amrit Kumar.

Lagrange Lab is a zero-knowledge (ZK) startup develops its ZK system enabling secure interoperability across different blockchain networks by providing generalized state proofs. Unlike traditional bridges and messaging protocols, the Lagrange Protocol allows for real-time cryptographic proofs of cross-chain states, enhancing security and enabling decentralized applications to operate seamlessly across multiple blockchains.

BlockBooster raised $1.5M in a Seed funding round from OKX Ventures (ex OKEx Blockdream Ventures)*, Conflux Network, BitcoinLab.

BlockBoosters is a Venture Studio headquartered in Hong Kong, dedicated to nurturing the development of next-generation protocols and software infrastructure in the Web3 space, with a focus on Asia. Through expertise, mentorship, and access to a network of seasoned professionals, BlockBoosters supports incubated projects, fostering ideation, execution, and talent recruitment to ensure the success of innovative ventures in the blockchain industry.

Botanix Labs raised $8.5M in a Seed funding round from Polychain Capital, Placeholder, Valor Equity Partners, ABCDE Capital, Andrew Kang, Fiskantes, The Crypto Dog, Altcoin Sherpa, Dovey Wan, icebergy, domo.

Botanix Labs is a fully decentralized Layer 2 solution on Bitcoin, leveraging its security and decentralization for dApp development. By merging Ethereum Virtual Machine versatility with Bitcoin's robustness, it introduces a Proof-of-Stake consensus layered atop Bitcoin's Proof-of-Work, securing stakes with bitcoin in decentralized multisig wallets within the Spiderchain network for enhanced security and decentralization.

Ambient Network raised $2M in a Seed funding round from Borderless Capital*, Solana Ventures, Sonic Boom Ventures, Primal Capital.

Ambient Network is a Solana-based decentralized physical infrastructure network (DePIN) focused on collecting environmental data. It acquired PlanetWatch's network, previously on Algorand, and plans to migrate to Solana while launching its own token.

Electron Labs raised $1M in a Seed funding round from LambdaClass, Zephyrus Capital, Blue7, Interop Ventures, FounderHeads VC, Router Protocol, Aniket Jindal, Sandeep Nailwal, Anurag Arjun, Ajit Tripathi, Martin Köppelmann, Jaynti Kanani.

Electron Labs is an Ethereum-based universal ZK-proof aggregation layer, leveraging light clients and zero-knowledge proofs to uphold decentralization. Through the use of UPA, Electron consolidates proofs from multiple sources into a single superproof, effectively reducing costs per use case.

DwellFi raised $3M in a Seed funding round from E1 Ventures, Stanford Blockchain Club, Hustle Fund, Blockchain Coinvestors, Fortified Ventures.

DwellFi is transforming asset management through cutting-edge AI, blockchain, and tokenization technologies. With its SOC-2, Type 1 SaaS platform, DwellFi serves a wide range of clients, including PE/RE/VC Funds, Hedge Funds, and LPs, offering advanced analytical capabilities and dynamic NFT tokenization for enhanced liquidity and efficiency in managing assets.

Other investment rounds

UXUY raised $7M in a Series A  funding round from Binance Labs Fund, UTXO Management, JDI Ventures, Bixin Ventures, SWC Global, Matrix Partners, Coin Merge Strategy (CMS), Dewhales Capital, Comma3 Ventures, SatoshiLabs, YBB Foundation, Genesis Block Ventures Capital (GBV), Web3Vision, Pentos Ventures, NGC Ventures (NEO Global Capital), Metalpha, GSR Markets LTD.

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.

Zeal raised $2M in a  funding round from Gnosis DAO.

Zeal is a self-custody crypto wallet designed for seamless management of Web3 assets across EVM networks and applications. With robust security features, including Safety Checks and Privacy Shield, Zeal ensures user safety by providing transaction previews and safeguarding user information from blockchain node tracking. Users can effortlessly track tokens, DeFi positions, and NFTs, consolidating various functionalities into a single, secure platform.

Arcium (ex Elusiv) raised $5.5M in a Strategic  funding round from Greenfield Capital*, Coinbase Ventures, Heartcore Capital, LongHash Ventures, L2 Iterative Ventures (L2IV), Staking Facilities, Smape Capital, Everstake, Anatoly Yakovenko, Keone Hon, Tristan Frizza, Austin Federa.

Arcium is a decentralized confidential computing network that empowers developers and applications to securely access performant computing power for sensitive data tasks. Leveraging a distributed architecture and Multi-Party Computation (MPC), Arcium ensures data integrity and confidentiality by processing encrypted data across multiple nodes without exposing the complete dataset. Orchestrated on the Solana blockchain, Arcium offers flexible configuration options and integrates seamlessly with existing blockchain technologies, revolutionizing data utilization across industries reliant on privacy and security, such as blockchain, healthcare, and artificial intelligence.

BitSmiley raised $1K in a Public sale  funding round from .

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.

Owlto Finance raised $8M in a Strategic  funding round from Bixin Ventures*, CE Innovation Capital*, Presto Labs, Hailstone Labs, Skyland Ventures, Blocore, SNZ Holding, Kroma, Coinseeker, Stratified Capital, x21 Digital, Maxx Capital Official, Incubate Fund, GSR Markets LTD, ChainCatcher, Coinvestor Ventures, Alpha Capital, Open Market Group (OMG).

Owlto Finance is a universal Cross-Rollup bridge solution facilitating seamless asset transfers between different blockchains without the need for intermediary assets, ensuring fast, reliable, and cost-effective transactions while maintaining the security and integrity of original assets. Its decentralized Maker system, future upgrade plans, and broad compatibility enhance transparency, security, and user experience, positioning Owlto as a versatile and essential tool for DeFi, NFT markets, DEX, cross-chain transfers, games, and the Metaverse within the Ethereum ecosystem.

NuLink raised $1.6M in a Strategic  funding round from DWF Ventures*, Poolz Finance*, ViaBTC Capital*, Coinvestor, Alpha Capital, Moonstarter, Aza Ventures.

NuLink is a decentralized ZK-provable data privacy solution designed for DApps, offering APIs that enable developers to implement the best security and privacy practices easily. By providing endpoint encryption and cryptographic access control, NuLink empowers developers, startups, and enterprises to build applications that prioritize user privacy within the web3 ecosystem.

Telos raised $1M in a  funding round from Presto Labs.

Telos is a decentralized blockchain ecosystem offering high performance scalability and privacy features through its Layer 0 network. It includes Telos EVM, the world’s fastest EVM, and Telos Zero, a high-speed native consensus layer, facilitating hardware-accelerated zkEVM Layer 2 development on Ethereum. With unique governance and Delegated Proof-of-Stake consensus, Telos enables NFT compatibility, smart contract programmability, and efficient transaction speeds.

CityPay raised undisclosed amount in a  funding round from Tether.

CityPay is a digital currency payment solution that enables businesses to accept payments in cryptocurrencies. With multiple payment channels available, including web, email, and POS terminals, CityPay offers a convenient and customizable platform for businesses to receive cryptocurrency payments.

Galaxis raised $10M in a  funding round from Chainlink, Ethereum Name Services (ENS), Rarestone Capital, Taisu Ventures, Kapo Capital, Moonrock Capital.

Galaxis is a post-hype NFT utility platform based in Singapore, providing creators with a no-code toolkit to launch decentralized communities and NFT collections. With a focus on simplicity and user-friendly interfaces, Galaxis empowers creators to deploy utility-driven NFTs and facilitate secure interactions and value exchange among community members.

DeepLink raised undisclosed amount in a  funding round from Waterdrip Capital.

DwellFi is a Web3 cloud gaming platform featuring a remote control tool as its gateway, integrating AI, blockchain, and streaming tech to address trust issues. Through blockchain, it enables global players to seamlessly share or rent personal gaming PCs, ensuring accessibility and reliability across diverse locations.

Blade of God X (Void Labs) raised undisclosed amount in a  funding round from Delphi Ventures, OKX Ventures (ex OKEx Blockdream Ventures), Yield Guild Games (YGG), LongHash Ventures, Newman Capital, BreederDAO, Eden Holdings (ED3N Ventures), King River Capital, Gabby Dizon, 071labs (Zero Seven One Labs).

Blade of God X, developed by Void Labs, is a dark Nordic-style Action-RPG and the official sequel to the Blade of God series, immersing players in a world of mythology and redemption. With cross-platform play, intuitive AI training, and a dedicated fan base of 6 million, it offers an immersive experience across PC and mobile platforms.

Lava Network raised $11M in a Strategic  funding round from Animoca Brands, Gate Ventures, Coingecko, Manifold, Crypto Times, Megala Ventures, Sandeep Nailwal, Lark Davis, Ash Crypto, Coin Academy.

Lava Network is the modular data access layer for blockchains, introducing specs as a modular primitive to seamlessly integrate new chains and data services. It operates as a dynamic marketplace where data consumers send requests to node operators, incentivizing reliable service provision across speed, uptime, and data accuracy while ensuring data quality through fraud and fault detection checks.

SlingShot DAO raised $3M in a  funding round from Alphabit.

SlingShot DAO is a community-driven platform where members collaborate to transform ideas into gaming experiences through the SlingShot app. It fosters inclusivity and rewards individual contributions, aiming to curate and launch the world's next big gaming ideas. With a focus on community-first values and action-oriented approach, SlingShot DAO strives to build a new playing field in the gaming industry while celebrating diversity and integrity.

mint fun raised undisclosed amount in a M&A  funding round from Zora.

mint fun is a platform developed by the Context team, serving as an NFT mint aggregator that simplifies the process of discovering and participating in NFT minting projects. It ranks ongoing minting projects by popularity, providing users with a centralized hub to explore and engage with various NFT offerings without the need to search across multiple platforms.

Hemera raised $2.6M in a  funding round from Lingfeng Innovation Fund (LIF)*, Nomad Capital*, SNZ Holding, Chainlink.

Hemera Protocol is a decentralized account-centric indexing network within Web3, providing a public goods data infrastructure to enhance data networks' capabilities. It serves a wide range of use cases, from blockchain explorers to social graphs, leveraging its modular architecture and high scalability to address fragmentation issues and facilitate interoperability across web3.

MetaPhone raised $1M in a  funding round from JDI Ventures.

MetaPhone is a pioneering DePIN project on the TON blockchain, offering a Web3-native smartphone experience to cultivate a comprehensive TON ecosystem. With top-tier hardware integrated with a dApp Store and TON Wallet, MetaPhone seamlessly connects millions of users, enabling effortless access to sought-after TON applications while empowering users to earn rewards in a decentralized marketing network.

* fund, that lead investment round