Crypto Fundraising weekly
Dates: 08 – 14, Dec 2024

This week's biggest funding round

Avalanche (Ava Labs) raised $250M in a funding round from Galaxy Digital*, Dragonfly Capital*, ParaFi Capital*, SkyBridge Capital, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital (ex Republic Labs), Morgan Creek Capital, FinTech Collective, CMCC Global, Superscrypt, Cadenza, Chorus One, Tane.

Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one ecosystem.

Pre-seed and Seed investment rounds

Uranium Digital raised $1.7M in a Pre-seed funding round from Portal Ventures*, Framework Ventures, Karatage, Santiago R. Santos, Jason Yanowitz, Marc Weinstein, Alex Svanevik.

Uranium Digital is a startup focused on the uranium market through tokenization. By representing uranium ore, or yellowcake, with blockchain tokens, the platform enables seamless trading in an otherwise underfinancialized and heavily regulated sector. While the tokens simplify transactions, the underlying uranium remains securely stored, with access limited to licensed buyers for physical settlement. This approach bridges the gap between accessibility and regulatory compliance, providing a transparent, decentralized marketplace for uranium trading.

Fantasy top raised $4.3M in a Seed funding round from Dragonfly Capital*, Manifold.

Fantasy top is a SocialFi Trading Card Game (TCG) where players compete to earn ETH, BLAST, and FAN points by leveraging the performance of their favorite influencers' Twitter activity. Through trading cards featuring crypto Twitter influencers, players engage in an online game that enables them to monetize their social capital and research expertise within the cryptocurrency community.

Perena raised undisclosed amount in a Pre-seed funding round from Borderless Capital*, Binance Labs Fund, Primitive, Anagram, Maelstrom, Breed VC, Temporal, ABCDE Capital, SevenX Ventures, Pivot Global, Miton, Graph Ventures.

Perena is a decentralized finance (DeFi) platform that enhances stablecoin usability, liquidity, and rewards within the ecosystem. It offers a suite of tools designed to facilitate the seamless exchange of on-chain assets and maximize yield generation from idle stablecoin liquidity. By consolidating liquidity into a central asset, Perena enables new stablecoins to access existing liquidity pools and underlying assets at a lower cost, thereby reducing entry barriers. The platform also addresses issues of fragmented and shallow liquidity pools by unifying liquidity and facilitating efficient asset distribution.

Spicenet raised $3.4M in a Seed funding round from Hack VC*, Magnus Capital*, TPC Ventures, Public Works, WAGMI Ventures, DoraHacks, P-OPS Team, The Rollup Ventures, Tekin Salimi, George Lambeth, Nick White, John Adler, Zaki Manian, Smokey The Bera.

SpiceNet is a custom-built app rollup designed for fast, reliable, and capital-efficient trading. Operating as a sovereign rollup on Celestia, it uses ZK Fraud Proofs via the Sovereign SDK to reduce challenge periods to hours, enhancing fraud resistance. SpiceNet provides sub-millisecond transaction processing, gas-free trading, and scalability through asynchronous execution and sharding. Its modular toolkit includes a shared order book and integrated exchange infrastructure, empowering developers to create high-performance trading applications with shared liquidity.

Neptune Protocol raised $3.9M in a Seed funding round from Animoca Ventures, CMS Holdings, Bloccelerate, Maelstrom, Infinity Ventures Crypto (IVC), Builder Capital, RockTree Capital, Wise3 Ventures, Veil, Optic Capital, Relayer Capital, Stake Capital, WAGMI Ventures, NxGen, Zephyrus Capital, Global Coin Research (GCR), Revelo Intel, Cogitent Ventures, MH Ventures, Meltem Demirors, Ben Lakoff, Kartik Talwar.

Neptune Protocol is a decentralized borrowing platform native to the Eclipse ecosystem, powered by the Solana Virtual Machine (SVM). Its flagship product, USDN, is an over-collateralized stablecoin soft-pegged to the US Dollar, enabling users to access zero-interest loans while retaining their collateral. Neptune enhances capital efficiency for ETH, SOL, TIA, and other asset holders within the Eclipse, Ethereum, Solana, and Celestia ecosystems.

Exabits raised $15M in a Seed funding round from Hack VC*.

xaBITS is a decentralized infrastructure for AI and computationally intensive applications, committed to fostering an equitable, accessible, and user-friendly AI ecosystem. Users can contribute to the exaBITS infrastructure, train unique AI models, and offer distributed GPU services, data storage, or expertise to AI communities without the need for central authority, utilizing Web3 identities for engagement.

ProvLabs (ex Provenance Blockchain) raised undisclosed amount in a Seed funding round from Animoca Brands, Blockchange Ventures, CMT Digital, GateCap Ventures, Medalist Partners, Morgan Creek Capital, Provenance Blockchain Foundation, Serengeti Asset Management, The Operating Group, Thirdstream Partners, Walden Bridge Capital.

ProvLabs (Provenance Blockchain Labs, Inc.) delivers blockchain infrastructure solutions to digitize real-world assets at scale. Built specifically for the Provenance Blockchain, a public Layer 1 network, ProvLabs provides enterprise-grade APIs, SaaS tools, and professional services to help financial institutions deploy decentralized applications (dApps). Its offerings include integration with both public Mainnet and private Zones, enabling secure and scalable asset digitization while future-proofing financial operations.

Kast raised $10M in a Seed funding round from Peak XV Partners (ex as Sequoia India & South East Asia)*, HongShan (ex Sequoia China)*, DST Global, Goodwater Capital.

KAST is a stablecoin-powered financial platform offering virtual and physical cryptocurrency cards for global spending. Designed for on-chain savings, earnings, and transactions, KAST supports stablecoins like USDT, USDC, and USDe. Its cards are compatible with Apple Pay and Google Pay, enabling seamless purchases at over 100 million merchants worldwide. Users benefit from real-time spending tracking, budgeting tools, and rewards programs. With advanced encryption and multi-factor authentication, KAST prioritizes privacy and security for managing and spending digital assets.

Mandala Chain raised $1M in a Pre-seed funding round from Harbour Industrial Capital*, NLS Ventures, O-DE Capital Partners.

Mandala Chain is a hybrid Layer 1 blockchain built to integrate government, enterprise, and retail applications, starting in Indonesia. Based on Substrate, it ensures data security, supports decentralized identity, and enables cross-chain interoperability. Its native token, Kepeng Coin ($KPG), powers governance and transactions, driving Web3 adoption in emerging markets.

SmarDex raised $4.5M in a Seed funding round from .

SmarDex is a decentralized exchange (DEX) that utilizes an innovative Automated Market Maker (AMM) algorithm to address impermanent loss, potentially converting it into impermanent gain. Operating across multiple blockchain networks, including Ethereum, Binance Smart Chain, Polygon, Arbitrum, and Base, SmarDex offers users efficient token swaps, liquidity provision through Volatility Vaults, and opportunities for staking and farming.

Other investment rounds

Glacier Labs raised $3.4M in a Public sale  funding round from .

Glacier Network is a Layer-2 rollup network facilitating decentralized application (DApp) development and interaction. It provides a comprehensive ecosystem with features like Data configuration for granular control, complete data ownership, and seamless integration of decentralized databases (DDB) through its native Smart-Contract ecosystem. Glacier Network empowers users to manage data usage for financial gain, making it a promising platform for building and scaling Web3 applications with programmable data composability solutions.

MegaLabs (MegaETH) raised $10M in a Public sale  funding round from .

MegaLabs is the developer of MegaETH, a blockchain aiming for 100,000 transactions per second (TPS) with full Ethereum compatibility. MegaETH achieves real-time processing and high transaction throughput using a heterogeneous blockchain architecture and a hyper-optimized EVM execution environment. This architecture allows for specialization of network nodes and minimizes hardware requirements for full nodes, ensuring a fast, secure, and efficient blockchain.

Privasea raised undisclosed amount in a  funding round from Lunar Labs Capital.

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.

Superform Labs raised $3M in a Strategic  funding round from VanEck*, Polychain Capital, CMT Digital, Amber Group, Node Capital, BlockTower Capital, Heartcore Capital, Maven 11 Capital, UpTop.

Superform is a permissionless cross-chain yield marketplace designed for DeFi protocols, allowing them to list their vaults or asset pools. Users can deposit funds into these vaults and earn yield, with Superform simplifying the process by abstracting away swapping and bridging, offering a single interface for yield management.

Waterfall Protocol (BlueWave) raised $11.6M in a  funding round from Bolt, Alpha Token Capital, Enflux.

Waterfall Protocol is a Layer 1, highly-scalable, completely decentralized smart contract platform developed by software development firm BlueWave based on Directed Acyclic Graphs (DAG) technology and fast finality Proof-of-Stake (PoS) consensus. It is designed for the development of decentralized applications (Dapps) and aims to offer scalability, security, and a truly decentralized governance platform while being Ethereum Virtual Machine (EVM) compatible and having low hardware requirements for validators.

AgriDex raised $4M in a Strategic  funding round from Portal Ventures*, Sycamore Gap Management Ltd., Endeavour Ventures, Hawkwood Capital, HU Investments.

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.

Remora Markets raised undisclosed amount in a M&A  funding round from Step Finance.

Remora Markets is introducing tokenized securities to the Solana blockchain, enabling global access to traditional equities. Users worldwide can seamlessly purchase whole or fractional shares of stocks on-chain, represented as SPL tokens. These tokenized assets are fully composable and interoperable with Solana’s DeFi ecosystem, allowing immediate integration with major platforms. Remora Markets bridges traditional finance and decentralized finance, offering a streamlined, borderless, and accessible trading experience.

Wild Forest raised $100K in a Public sale  funding round from .

Wild Forest is a free-to-play real-time strategy (RTS) game built on the Ronin blockchain, offering fast-paced player-versus-player (PvP) battles and card-collecting elements. Players build bases, manage resources, and control units in dynamic battles, aiming to destroy opponents’ castles. The game features a variety of maps, each with distinct themes and layouts, enhancing strategic depth. Players can collect and upgrade NFT unit cards to enhance their decks, with higher-tier cards offering greater value and strength in battles. Wild Forest is available on Android, iOS, PC, and Mac platforms.

Zodia Custody raised undisclosed amount in a  funding round from Emirates NBD.

Zodia Custody is a digital asset custodian offering secure and compliant custody services tailored for institutional investors. Established as a joint venture between Standard Chartered and Northern Trust, Zodia Custody combines traditional banking expertise with innovative digital asset solutions. The firm operates under regulatory approvals from authorities such as the UK’s Financial Conduct Authority and the Central Bank of Ireland, ensuring adherence to stringent compliance standards. Zodia Custody provides services including cold wallet storage, staking, and seamless trading from cold storage, all designed to meet the complex needs of institutional clients in the evolving digital asset landscape.

Commonware raised $9M in a  funding round from HAUN Ventures*, Dragonfly Capital*, Nick White, Viktor Bunin, Sreeram Kannan, Dan Romero, Scott Sunarto, Smokey The Bera, Zaki Manian.

Commonware is an open, Rust-based blockchain framework designed to provide specialized, high-performance on-chain applications. It offers modular primitives for consensus, cryptography, peer-to-peer communication, runtime execution, storage, and streaming, enabling developers to tailor blockchain components to specific application needs. By decoupling traditional blockchain layers, Commonware aims to achieve excessive throughput and facilitate seamless interoperability, empowering developers to build customized, efficient blockchain solutions.

Sphere Labs raised $5M in a Strategic  funding round from Coinbase Ventures, Kraken Ventures, Anagram, Temporal, Anza, Pyth Network, BOOGLE, Nom, Echo, Shoe on Ventures, Joe McCann.

Sphere Labs is an operating system for stablecoins, facilitating cost-effective, secure, and near-instant cross-border payments for merchants in under-addressed emerging markets. Acting as the fundamental interface between end-users and stablecoins, Sphere orchestrates blockchains, custodial infrastructure, and financial service providers through accessible graphic user interfaces to make stablecoin payments easily accessible.

Nano Labs raised $36.3M in a Private  funding round from .

Nano Labs Ltd is a leading Chinese fabless IC design company specializing in high-throughput and high-performance computing (HTC and HPC) solutions. Its innovative product lineup includes advanced chips like the Cuckoo and Darkbird series, among the first near-memory HTC chips, optimized for bandwidth-intensive applications. Nano Labs also pioneers distributed computing, storage solutions, smart NICs, vision computing chips, and rendering technologies. With its proprietary Flow Processing Unit (FPU) architecture, the company bridges the features of HTC and HPC to address the demands of cutting-edge computing.

GEODNET raised undisclosed amount in a  funding round from ParaFi Capital.

GEODNET is a decentralized network that combines real-world Earth observation with blockchain technology, aiming to gather geospatial data from space weather stations worldwide and provide secure and trusted data products. Participants contribute to the network by installing geodetic-grade GNSS antennas on their roofs and are rewarded with GEOD tokens for their contributions.

Soarchain raised $4.5M in a  funding round from Taisu Ventures, BlockBuilders, Hyperithm, Plug and Play Ventures, Chorus One, Cogitent Ventures, Elevate Ventures.

Soarchain is a sovereign app chain designed to create token-incentivized data and connectivity infrastructure for vehicles. It enables cars to collect and share real-time data from their surroundings, improving urban safety, efficiency, and autonomy. Developers and data consumers can access this vehicle-generated data to build apps and services on a secure, open platform. This system lowers the cost of delivering improved services, fostering smarter and more connected cities.

Hyperbolic raised $12M in a Series A  funding round from Variant Fund*, Polychain Capital*, Chapter One, Lightspeed Faction, Bankless Ventures, GSR Markets LTD, IOSG Ventures, Vertex Ventures, Blockchain Builders Fund (BBF), Wintermute, Alumni Ventures (AVG), Ambush Capital.

Hyperbolic is an AI cloud platform that unites global compute resources to provide accessible, affordable, and scalable GPU resources and AI services. It offers high-throughput and low-latency AI inference services, scalable GPU access with pay-as-you-go plans, and monetization options for idle GPUs. Hyperbolic supports a wide range of GPUs and ensures high availability, scalability, security, and equitable compensation for contributions. Designed for researchers, companies, data centers, and individuals, Hyperbolic aims to democratize AI by making compute resources more accessible and affordable.

Klickl raised $25M in a Series A  funding round from Web3Port Labs*, Aptos Labs*, Summer Ventures, Heritage Horizon Capital, Alpha Square Group, Heng Feng Group, The Bond Group.

Klickl is a regulated open banking and virtual asset platform in the Middle East and North Africa (MENA) region, offering a comprehensive suite of crypto-friendly financial services. Its offerings include the Klickl 4U app for managing digital and fiat currencies, a regulated custody solution, a payment gateway, and brokerage services. Klickl emphasizes security and compliance, operating under decentralized licensing to provide inclusive financial services globally.

BounceBit raised undisclosed amount in a  funding round from Boyaa Interactive.

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.

Orion Principals raised undisclosed amount in a M&A  funding round from Crypto com Capital.

Orion Principals Limited is an Abu Dhabi-based brokerage firm regulated by the Abu Dhabi Global Market (ADGM). It offers a comprehensive suite of financial services, including securities trading, futures, options, contracts for difference (CFDs), and foreign exchange (Forex) across major global markets. The firm caters to high-net-worth individuals, active traders, and institutional investors, providing access to over 40,000 financial instruments through its proprietary platform, Orion Trader, and a 24/5 active trading desk.

Relai raised $12M in a Series A  funding round from Ego Death Capital*, Plan B Bitcoin Fund, Timechain, Solit Group.

Relai is a bitcoin-only investment platform that allows small and medium-sized businesses to add bitcoin to their balance sheet. The platform is designed to be simple, intuitive, and secure, enabling anyone in Europe to access Bitcoin savings and investment easily.

Skip raised undisclosed amount in a M&A  funding round from Interchain Foundation.

Skip provides blockchain infrastructure tools for cross-chain connectivity and data accessibility. Its solutions include the Skip:Go API for seamless multi-chain interactions, the Skip:Go Widget for user onboarding across chains, and Skip:Connect, a native oracle system for real-time data streaming. These tools empower decentralized applications with efficient interoperability and sovereignty.

TLX raised undisclosed amount in a M&A  funding round from Synthetix.

TLX is a decentralized leveraged token protocol on the Optimism network, enabling users to mint and trade tokens with up to 20x leverage across 50+ assets. Powered by Synthetix’s Perps V2 engine, TLX offers deep liquidity, composability, and ERC-20 compliant tokens for seamless DeFi integration.

Astra DAO raised undisclosed amount in a M&A  funding round from Token Metrics.

Astra DAO is a decentralized, non-custodial automated crypto asset allocator and Launchpad platform, initially built on Ethereum and now operating on Arbitrum. It offers users access to various crypto-oriented investment strategies through indices and a marketplace for participation units. The platform’s native utility token, ASTRA, facilitates governance, staking, and rewards distribution. Astra DAO’s Launchpad supports new blockchain projects, providing a comprehensive and secure environment for token sales.

SettleMint raised undisclosed amount in a  funding round from The Hashgraph Association (THA).

SettleMint is a low-code blockchain platform that allows developers with scant knowledge of blockchain to build web3 applications. This platform includes a suite of tools, frameworks, templates and APIs that are ready to use for developer teams.

Dtravel raised undisclosed amount in a  funding round from Modular Capital.

Dtravel is a decentralized travel ecosystem using blockchain to address trust, reputation, and connectivity issues in the industry. Its protocol creates a single source of truth for travel data, enabling better connectivity and direct bookings, while Dtravel Direct empowers short-term rental operators to build their brands and grow direct booking businesses. The ecosystem also features Dtravel Meridian, a composable NFT travel profile for ownership of travel histories, reputations, and data, promoting a trustless system for direct bookings.

Lava raised $10M in a Series A  funding round from Khosla Ventures*, Founders fund*, Peter Thiel, Joey Krug.

Lava is a financial platform that enables users to save in Bitcoin while spending in dollars. It offers a Bitcoin-backed debit card, allowing users to make everyday purchases seamlessly. By integrating Bitcoin savings with traditional spending, Lava provides a bridge between cryptocurrency holdings and conventional financial3-5 Word Desription: Bitcoin-backed debit card.

Terrace raised $2.5M in a Public sale  funding round from .

Terrace is an all-in-one, non-custodial crypto trading terminal and portfolio management system that integrates over 40 centralized and decentralized venues across 13+ blockchain networks. It offers trading tools, including smart order routing, limit orders, TWAP, and real-time order books for both spot and derivatives markets. The platform’s Pathfinder feature enables best-path execution between any token-chain combinations, while multi-wallet support allows users to manage portfolios across various wallets and chains seamlessly. Terrace caters to both institutional investors and retail traders, providing a comprehensive solution for efficient and secure crypto trading.

ChainAwareAi raised undisclosed amount in a  funding round from ChainGPT Labs*, CoinIX Capital.

ChainAware.ai is an AI-powered platform enhancing Web3 security and user engagement through proprietary AI models tailored for blockchain complexities. It offers tools like Wallet Auditor, Fraud Detector, and Rug Pull Detector, providing predictive analytics for fraud detection and wallet behavior assessment across Ethereum, Polygon, BNB Smart Chain, and TON networks. Additionally, ChainAware.ai delivers Web3 marketing solutions, including persona-based targeting and user analytics, to optimize marketing strategies and boost user conversion rates.

Bounty Bay raised undisclosed amount in a  funding round from Animoca Brands.

BountyBay is a Web3 social commerce platform integrated within Telegram, leveraging The Open Network (TON) blockchain to connect brands, creators, and Telegram’s extensive user base. It facilitates seamless social shopping experiences, enabling users to earn rewards through social referrals and group buying.

ApeScreener raised undisclosed amount in a  funding round from Messier.

Apescreener is an AI-driven portfolio advisor and tracker designed to assist users in building, growing, and liquidating their cryptocurrency investments. By leveraging advanced AI solutions, it identifies investment opportunities and guides users on optimal investment amounts, empowering informed decision-making in the crypto industry.

* fund, that lead investment round