Crypto Fundraising weekly
Dates: 08 – 14, Sep 2024

This week's biggest funding round

Huma Finance raised $38M in a funding round from Distributed Global*, Hashkey Capital, Folius Ventures, Stellar Development Foundation (SDF), Tibas Ventures.

Huma Finance is a DeFi protocol allows borrowing based on cash flow rather than tokens. Borrowing can be made against receivables such as pay stubs or invoices.

Pre-seed and Seed investment rounds

Eigenpie raised undisclosed amount in a Seed funding round from Arbitrum Foundation, Robot Ventures, PancakeSwap, Relayer Capital, Sam Kazemian.

Eigenpie is a restaking SubDAO designed to maximize the earning potential for Liquid Staking Token (LST) holders. By allowing users to restake their assets on its platform, Eigenpie offers a liquid restaked version for each accepted LST, effectively isolating the risks associated with specific tokens. This modular approach provides a secure and efficient way for users to compound their returns, while mitigating risks and maintaining asset flexibility.

Wingbits raised $3.5M in a Seed funding round from Borderless Capital*, Tribe Capital*, Antler.

Wingbits is a tokenized, community-powered flight tracking network that enhances aviation safety and efficiency by utilizing Automatic Dependent Surveillance-Broadcast (ADS-B) technology. Members contribute real-time flight data, helping improve air travel while earning token rewards. This decentralized platform empowers users to play a critical role in monitoring global flight movements and advancing the future of aviation.

Titan Network raised undisclosed amount in a Seed funding round from Arrington Capital, DePIN X.

Titan Network is a decentralized platform that connects idle community resources, like computing, storage, and bandwidth, with global demand. It offers a low-cost, eco-friendly, and highly secure system for distributed digital services, supporting the construction of a decentralized Internet of Value. Through blockchain and DePIN technologies, Titan ensures privacy, fast transmission, and self-repairing mechanisms for continuous availability. Its open-source approach allows anyone to contribute to and benefit from this ecosystem, rewarding participants while enhancing data security and accessibility.

Titan raised $3.5M in a Pre-seed funding round from Round13 Digital Asset Fund*.

Titan is a next-generation DEX aggregator built on the Solana blockchain, designed to optimize liquidity and improve the trading experience. Titan aggregates decentralized exchanges to offer the best prices for traders with a focus on security and performance.

Carrot raised $600K in a Pre-seed funding round from Syndicate by Boogle, Dead King Society (DKS), DRiP, ChartFuMonkey, Nom, Iced Knife.

Carrot is a Solana-based DeFi platform that simplifies passive earning by providing a unified yield-bearing token. It automatically optimizes stablecoin yields by rebalancing funds across multiple lending protocols, ensuring users capture the highest average APR. Carrot’s token can be tracked directly from a wallet without needing to visit a site, and its algorithms reduce risk by diversifying across strategies and assets.

Hyperbridge Protocol raised $2.5M in a Seed funding round from Web3 foundation (W3F), Scytale Digital.

Hyperbridge Protocol is a decentralized coprocessor model designed to enable secure, scalable cross-chain communication. It verifies multiple types of blockchain proofs off-chain and reports them back on-chain with cryptographic guarantees, solving the scalability limitations of direct on-chain proof verification. By aggregating the finalized states of multiple chains into a single proof, Hyperbridge allows any blockchain to trustlessly interoperate. It also introduces a permissionless network of incentivized relayers to transmit messages across chains without requiring whitelisting or staking.

GasHawk raised $1.6M in a Pre-seed funding round from AppWorks, Red Beard Ventures, Alchemy Ventures, 3SE Holdings, AVID3, Artemis Capital, Andromeda Capital, Roneil Rumburg, Vinny Lingham, The Crypto Dog, Scott Keto.

GasHawk helps Ethereum users save on gas fees by optimizing when transactions are sent to the network. Users send signed transactions to GasHawk, which holds them in a queue until gas prices drop. It uses historical data and EIP-1559 insights for submission strategies, and users can also use Flashbots Protect to avoid MEV. GasHawk simplifies the process, offering more predictable savings and reduced manual adjustments.

Ammalgam raised $2.5M in a Seed funding round from Lightspeed Faction*, Framework Ventures*, Dewhales Capital, NGC Ventures (NEO Global Capital), Blockchain Founders Fund (BFF), Nabais Capital, Robot Ventures, Bodhi Ventures, Moonrock Capital, Selini Capital, CSP DAO, Kain Warwick, Anton Bukov, Spencer Noon.

Ammalgam is a DeFi protocol combining lending and trading that composes yield sources, simultaneously improving capital efficiency and unlocking unlimited strategies for market makers. Permission-less pairwise lending empowers traders to short anything, taking DeFi beyond what has been possible before.

Fountain Platform raised $3.5M in a Seed funding round from Foundation Capital, UOB Venture Management, Caladan, Alliance DAO (ex DeFi Alliance), Primal Capital, NGC Ventures (NEO Global Capital), MHC Digital Finance, Druid Ventures, Blockchain Founders Fund (BFF), Marin Digital Ventures, Firsthand Alliance, Rene Reinsberg, Nathan McCauley.

Fountain is a non-custodial, multi-chain operating system designed to streamline treasury, risk, and trading operations. It consolidates custody accounts, exchanges, wallets, and dApps into a single interface, allowing companies to manage workflows and delegate access securely without sharing private keys. Its no-code automation builder enables users to efficiently manage complex tasks across blockchains. Fountain also provides an audit trail for compliance, ensuring secure and transparent operations.

Syrupal Protocol raised $3.8M in a Seed funding round from .

Syrupal is a decentralized options exchange offering structured financial products, combining centralized and decentralized benefits for a seamless user experience. It features options for major cryptocurrencies like BTC and ETH, diverse trading strategies, and robust risk management tools. Syrupal’s gas-efficient settlement and multi-chain expansion, starting with Arbitrum and the TON Network, empower users to trade flexibly and hedge market risks. The Apiary Bot further simplifies options trading for the TON ecosystem, offering a beginner-friendly platform with dynamic options listing.

Open Forest Protocol (OFP) raised undisclosed amount in a Seed funding round from Ubermorgen Ventures*, Backbone Ventures, GS Futures, Near Foundation, Fondation Valery.

The Open Forest Protocol (OFP) is a blockchain-based platform that enables the transparent measurement, verification, and funding of forestation projects. By leveraging blockchain technology, OFP ensures accurate and affordable verification of carbon data for climate initiatives globally. This opens opportunities for projects to access carbon financing and other resources essential for combating climate change. The platform fosters collaboration and trust among stakeholders, ensuring real-time accountability for forestation efforts.

Universal Health Token raised $1.2M in a Pre-seed funding round from Animoca Brands, Tezos Foundation, P2 Ventures (Polygon Ventures).

Universal Health Token (UHT) is a gamified healthcare platform developed by GOQii’s Web3 business unit. It leverages blockchain technology to incentivize preventive healthcare, rewarding users for making healthy lifestyle choices. UHT offers exclusive NFTs, event access, and discounts on health products as motivation to improve habits. By blending healthcare and technology, UHT reshapes how users approach wellness, aiming to combat chronic diseases and promote healthier living through engaging and immersive experiences.

DRiP raised $8M in a Seed funding round from NFX*, Progression Fund*, Coinbase Ventures*.

DRiP is a digital gift NFT project built on the Solana blockchain. It focuses on creating a Web3 content distribution platform that empowers creators and offers free digital gifts from prominent content creators.

PIN AI raised $10M in a Pre-seed funding round from a16z Crypto Startup Accelerator (CSX), Hack VC, Anagram, Blockchain Builders Fund (BBF), Symbolic Capital (ex Hyperedge Capital), Dispersion Capital, Alumni Ventures (AVG), Foresight Ventures, Nomad Capital, J17 Capital, Illia Polosukhin, Lily Liu, Scott Moore, Cristian Manea, Ben Fisch.

PinAI is a platform that leverages AI and data analytics to optimize supply chain operations. With advanced forecasting, automation, and real-time insights, PinAI helps businesses enhance efficiency, reduce operational costs, and streamline processes. The platform is designed for industries with complex supply chains, providing tools to manage logistics, demand planning, and inventory control more effectively.

t1 protocol raised $2.5M in a Pre-seed funding round from a16z Crypto Startup Accelerator (CSX), PNYX Ventures, Meltem Demirors, TokkaLabs, Sam Kazemian, Amir Bandeali, Jed Breed, Eric Chen, Kartik Talwar.

t1 Protocol is a decentralized platform on Ethereum that processes encrypted user transactions through validators and workers. It ensures privacy, integrity, and efficient execution using zk-rollup technology. The t1 contract verifies proofs, updates balances, and bundles transactions, reducing gas fees while maintaining transparency via a data availability layer.

Blocksense Network raised $4M in a Seed funding round from Permutation*, a16z Crypto Startup Accelerator (CSX), Public Works, Tykhe Block Ventures, Selini Capital, MH Ventures, Daedalus.

BlockSense is a fully decentralized, permissionless oracle network designed to scale oracle data efficiently using zero-knowledge circuits. It allows any developer to create secure data feeds with minimal cost. BlockSense focuses on addressing high costs, centralization, and opaque business models in traditional oracle networks by offering decentralized, transparent, and flexible solutions, making it accessible for all blockchain networks. It also leverages advanced cryptographic methods to enhance security and prevent data manipulation.

Other investment rounds

Derive (ex Lyra) raised undisclosed amount in a Angel  funding round from DCF God, Georgios Vlachos, LayerZero Core, Leptokurtic, Xinshu Dong, Daryl Lau.

Derive is a decentralized protocol designed to create programmable on-chain options, perpetuals, and structured financial products. Built on Derive L2, an Ethereum rollup on the OP Stack and governed by a DAO, it features modular architecture for flexible upgrades. The protocol uses subaccounts, assets, and managers to ensure efficient trade execution, risk management, and liquidity optimization. With support for perpetual futures, European options, and wrapped ERC20 assets, Derive empowers users to engage in decentralized trading and lending markets while enhancing capital efficiency and security.

BTA Protocol raised undisclosed amount in a Series A  funding round from Crypto Labs*.

BTA Protocol is a decentralized ecosystem built on the Bitcoin blockchain, offering a range of applications to enhance user interaction with digital assets. The protocol includes features such as Staking, Liquidity Provision, RSP (Reward Sharing Program), Launchpool, and Lending protocols.

Infinit raised $6M in a  funding round from Electric Capital*, Mirana Ventures*, Hashed*, Maelstrom, Lightspeed Faction, Robot Ventures, Nomad Capital, Tangent Ventures, Presto Labs, Bankless Ventures, Selini Capital, Michael Egorov, Ashwin Ramachandran.

NFINIT is the DeFi abstraction layer designed to simplify the process of launching and scaling DeFi protocols. It enables builders to create DeFi applications across all L1s, L2s, and modular blockchains in minutes, using TypeScript from its Developer Portal or directly from the INFINIT frontend. No Solidity or complex coding is required. INFINIT offers essential building blocks for DeFi protocols like money markets, DEXs, and yield farming, empowering developers to access more liquidity and users.

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

OpenEden offers on-chain access to tokenized US Treasury securities, providing a low-risk, highly liquid solution for Web3 CFOs, DAO treasury managers, and institutional investors. As the largest issuer of tokenized US Treasuries in Asia and Europe, OpenEden’s $TBILL tokens are fully backed by a BVI-registered fund. The platform integrates real-world assets into DeFi, aiming to make these assets accessible and drive economic inclusivity.

Fuse (Project Zero) raised $12M in a Strategic  funding round from Multicoin Capital*, Balderton Capital, Lakestar, Accel, Creandum, Lowercarbon Capital, Ribbit Capital, Box Group, Anatoly Yakovenko.

Fuse is a decentralized renewable energy network offering distributed energy resource (DER) installation, power trading, and power retail services. Through its subsidiary, Fuse Energy, it operates as a vertically integrated electricity retailer. Fuse is also pioneering Project Zero, a decentralized physical infrastructure network focused on renewable energy. The goal is to empower communities and individuals to generate, trade, and manage energy in a sustainable and decentralized way, promoting a cleaner and more efficient energy ecosystem.

Gradient Network raised undisclosed amount in a  funding round from Multicoin Capital, Sequoia Capital, Pantera Capital.

Gradient Network is a decentralized protocol dedicated to transforming computing power and staking solutions across blockchain networks. By focusing on interoperability, Gradient enables liquid staking and seamless connectivity between Ethereum, Solana, and the TAO Network. Its platform leverages edge computing to decentralize the cloud, offering accessible and affordable AI-driven solutions for content delivery, serverless functions, and AI inference. With a focus on democratizing computation, Gradient Network aims to reduce centralization and provide a robust, privacy-enhancing compute infrastructure for the future.

Vektor raised undisclosed amount in a M&A  funding round from Nirvana Labs.

Vektor is a DeFi position management protocol designed to simplify decentralized finance for investors. It offers a universal interface powered by Vektor eXecution Language (VXL) to streamline transactions, manage positions, and automate tasks across multiple blockchains. Vektor helps investors reduce losses, maximize returns, and enhance capital efficiency by aggregating data and automating actions, all while avoiding the need for complex internal systems.

MyShell raised undisclosed amount in a  funding round from 071labs (Zero Seven One Labs).

MyShell is a Web3-enabled AI platform that allows users to create personalized chatbots, known as "Shells." Creators can generate AI content bots, while consumers can find and use these bots. The platform offers token rewards for both creators and consumers. MyShell is currently offering some features on Polygon but is set to migrate its platform to opBNB — a Layer 2 network on BNB Chain that utilizes Optimism's OP Stack or Optimistic rollups technology.

Nytro Lab (Castile) raised $8M in a  funding round from SevenX Ventures*, OKX Ventures (ex OKEx Blockdream Ventures), Aptos Labs, Matr1x, Hashkey Capital, Amber Group, Leland Ventures.

Nytro Lab is a Web3 game studio pioneering the “Play and Trade” model, where players can generate and trade in-game assets freely. By integrating blockchain technology into gaming economies, they aim to shift from traditional consumption to investment-driven gameplay, enhancing user engagement and monetization. Nytro Lab’s first game is a Castile, Cthulhu-style RPG.

Stakewithus raised undisclosed amount in a M&A  funding round from Nansen.

Stakewithus is a decentralized staking-as-a-service platform offering secure and reliable staking solutions for proof-of-stake blockchains. It allows users to stake their digital assets easily while benefiting from non-custodial infrastructure and secure node management. The platform supports multiple blockchains, enabling investors to earn staking rewards while maintaining control of their private keys. Stakewithus also provides educational resources and real-time support to ensure a smooth staking experience for all users.

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

BSX (The Bermuda Stock Exchange) is an on-chain trading platform offering perpetual futures trading. Built on decentralized blockchain infrastructure, it ensures low fees and deep liquidity for a seamless trading experience. With features like cross-margining, low gas costs, and customizable interfaces, BSX combines the efficiency of centralized exchanges with the security of decentralized ones, providing traders with a powerful and flexible trading engine.

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

Blum is a hybrid exchange offering seamless access to both centralized and decentralized exchanges (CEX and DEX) through a single platform. It supports over 30 chains and allows users to trade coins without needing to switch networks or pay native token gas fees. Blum provides a gamified experience through a Telegram mini-app, with features like AI co-pilot assistance, localized P2P trading, simple derivatives, and unified CEX/DEX trading. It also offers both self-custody and MPC wallet options.

Cork Protocol raised undisclosed amount in a  funding round from Orange DAO, FounderHeads VC, IDEO CoLab Ventures, Outliers Fund, Unbounded Capital, Steakhouse Financial.

Cork Protocol introduces a new DeFi primitive called Depeg Swap, which allows participants to trade the risk associated with pegged assets, similar to a Credit Default Swap in traditional finance. It provides a mechanism for managing liquidity and credit risk in on-chain credit markets, helping to stabilize DeFi and reduce volatility. Cork aims to create foundational risk management infrastructure, enabling more capital flow and mitigating risks in on-chain credit markets.

Moku raised $5.4M in a  funding round from Sky Mavis*, a16z Games Speedrun*, Arca Fund, Framework Ventures, 32bit Ventures, Big Brain Holdings, Flying Falcon, Contango Digital Assets, Formless Capital, Eden Holdings (ED3N Ventures), Bankless Ventures, Gabby Dizon, Jeffrey Zirlin, Trung Nguyen.

Moku is a Web3 gaming platform that connects players with game guilds, NFT minting pages, and game strategy communities. It enhances user engagement within the Web3 gaming ecosystem by offering tools and resources for seamless interaction with decentralized gaming features. Moku helps users navigate and participate in the growing blockchain-based gaming space.

Orange Cap Games (Vibes) raised $2M in a Angel  funding round from Igloo Inc., OSF, David Lee, Char, Loi Luu, Wizard of Soho, Bryan Pellegrino, Kun Gao, Ray Chan, Gabby Dizon, dingaling, Mando, 0xSisyphus, Marc Weinstein.

Vibes is a hybrid digital and physical trading card game developed by Orange Cap Games, centered around the Pudgy Penguins IP. It combines both physical collectibles and digital gameplay, offering a unique experience for trading card enthusiasts. Players can collect, trade, and engage with their cards across both mediums, creating an immersive and interactive gaming environment that blends traditional and modern elements.

* fund, that lead investment round