Crypto Fundraising weekly
Dates: 12 – 18, May 2024

This week's biggest funding round

Polymarket raised $45M in a Series B funding round from Founders fund*, Vitalik Buterin, 1confirmation, ParaFi Capital, Dragonfly Capital.

Polymarket is a decentralized information markets platform where users can trade on highly-debated topics and build portfolios based on their forecasts. By allowing users to buy shares in markets, Polymarket provides actionable insights based on traders' views of future events, making it a leading source of unbiased and real-time data. However, it's currently unable to operate in the U.S. due to regulatory restrictions, leaving the field open for other platforms.

Pre-seed and Seed investment rounds

Focus Tree raised $2M in a Seed funding round from Sfermion*, Volt Capital, Psalion VC, Starkware, Typhon Ventures, Foresight Ventures, Sebastien Borget.

Focus Tree is a web3 productivity app designed to combat social media addiction by rewarding users for minimizing phone usage. It operates by allowing users to set timers that block access to other apps, enabling them to earn focus points for successful completion. These points can then be used to cultivate a virtual garden, with higher points granting access to valuable rewards like new trees and garden tiles. The app fosters community engagement by encouraging users to share progress, participate in collaborative focus sessions, and support each other's productivity goals, aiming to create a vibrant ecosystem that promotes focus, productivity, and personal growth.

Humanity Protocol raised $30M in a Seed funding round from Kingsway Capital*, Animoca Brands, Shima Capital, Blockchain com (Blockchain Ventures).

Humanity Protocol is a human-centric zkEVM Layer-2 blockchain pioneering the world's first sybil-resistant network of blockchains, aiming to onboard the first billion humans to Web3. Its mission is to develop Proof of Humanity, offering developers distinctive human authentication mechanisms and empowering users with full control over their data and identity, serving as the human layer for the next generation of the internet.

Raven raised $2.7M in a Seed funding round from Hack VC*, Wintermute.

Raven is a proprietary high-frequency algorithmic trading firm and market maker operating in both centralized and decentralized exchanges. Leveraging sophisticated algorithms, Raven conducts high-speed trades to capitalize on market inefficiencies, ensuring liquidity across various crypto assets and platforms. As a DeFi-first crypto-native organization, Raven DAO prioritizes integrity, fairness, and transparency, providing liquidity across multiple blockchains, DeFi protocols, and centralized exchanges while partnering with new crypto projects for successful token launches.

Shogun raised $6.9M in a Seed funding round from Polychain Capital*, dao5 (daofive)*, Maelstrom, Arrington Capital, Primitive, Hypersphere, Mirana Ventures, CitizenX Crypto Ventures, Meltem Demirors, Build-A-Bera, Flowdesk, The Interop Podcast, AVentures DAO, Manifold, DWF Labs, Cobie, Avi Felman, Bryan Pellegrino, Georgios Vlachos, Aniket Jindal, Altcoin Sherpa, Soby.

Shogun is an intent-centric DeFi protocol focused on maximizing Trader Extractable Value (TEV) through optimized orderflow and complete chain abstraction. Shogun's cross-chain market making modules, such as the DIMM (decentralized interchain market maker), simplify liquidity management and offer a superior user experience for traders and LPs, utilizing IBC and interchain accounts for dynamic rebalancing and automated strategies.

Hylé raised $2.6M in a Seed funding round from Framework Ventures*, Cherry Ventures, Fabric Ventures, Frst, Heartcore Capital, Uma Roy, Vance Spencer, Batuhan Dasgin.

Hylé is a minimal layer one platform dedicated to verifying zero-knowledge proofs (ZKPs), providing a secure and decentralized settlement layer for off-chain applications powered by ZKPs. With a focus on modularity and leveraging existing technologies like Cairo, Risc0, and SP1, Hylé offers flexibility and scalability while ensuring robust security and privacy through its purpose-built consensus mechanism.

SPARK raised $1.5M in a Pre-seed funding round from Curiosity Capital, P2 Ventures (Polygon Ventures), Unicorn Factory Ventures (UF Ventures), Fuel Network.

Spark is a DeFi super app on the Fuel network, integrating a suite of financial services like perpetual contracts, an order book, and lending/borrowing features. It introduces a multicollateral cross-margin system, supporting diverse asset deposits and sophisticated liquidation protocols for risk management. Spark boasts a high-performance order book and advanced tools to facilitate non-custodial interactions, appealing to both developers and traders seeking flexibility and enhanced trading capabilities.

Zest raised $3.5M in a Seed funding round from Draper Associates*, Binance Labs Fund, Flow Traders, Trust Machines, Asymmetric fund, Gravity Fund, Bitcoin Frontier Fund, DeSpread, Hyperithm, Miton C fund, Tykhe Block Ventures, Primal Capital, Scimitar Capital, Elixir Capital, Gossamer Capital, Jigeum Capital.

Zest is a Bitcoin lending protocol that operates on-chain and is open-source, aiming to make Bitcoin productive by creating a vibrant borrowing and lending ecosystem around BTC. It reduces counterparty risk by holding capital and issuing loans transparently on-chain, relying on smart contracts to handle pooled funds and ensuring secure and auditable transactions. Zest features two types of pools: Earn pools, where users earn a yield on their BTC, and Borrow pools, where users borrow against their BTC or Bitcoin assets, providing a decentralized and efficient solution for liquidity provision and utilization in the blockchain space.

ChainML (TheoriqAI) raised $6.2M in a Seed funding round from Hack VC*, Foresight Ventures, Inception Capital (ex OP Crypto), HTX Ventures (ex Huobi Ventures), Figment Capital, Hypersphere, Alumni Ventures (AVG), NxGen, Antalpha Ventures, NewTribe Capital, Stateless Ventures, Bitscale Capital, Hash Capital, IOSG Ventures, LongHash Ventures, Hashkey Capital, SNZ Holding, Chainlink, Construct Ventures, John Fiorelli.

ChainML is a scalable, tamperproof protocol for decentralized machine learning and related complex data-driven computation for Web3. The web3 AI platform has also unveiled Theoriq, its agentic base layer

Baby Shark Universe raised undisclosed amount in a Seed funding round from Animoca Brands, Credit Scend, Sui Foundation, Comma3 Ventures, Creditcoin, Notch Ventures, Planetarium, X+ (XDeGods).

Baby Shark Universe is a metaverse platform built on the BSC ecosystem, aiming to create a user-friendly gaming environment and establish a true metaverse ecosystem. Users can interact, trade digital assets, and create virtual content in a safe and decentralized environment, leveraging blockchain technology for ownership and transparency. With its foundation in the popular "Pinkfong and Baby Shark" IP, Baby Shark Universe offers a unique space where users worldwide can enjoy immersive experiences and collaborate on innovative projects within the virtual world.

Other investment rounds

FantaGoal raised $3M in a  funding round from IDG Capital*, OptaJoe, KuCoin Ventures, Chain Capital.

FantaGoal (FG) is a Web3 football ecosystem with the goal of establishing the world's largest football community. By tightly integrating the football world with blockchain technology, FantaGoal aims to bring new value and experiences to millions of football fans globally. Through innovative features like community incentive mechanisms, token rewards in games, and simplified participation in Web3, FantaGoal seeks to revolutionize the way football enthusiasts engage with the sport, offering unique opportunities for participation, entertainment, and financial growth.

Pencils Protocol (PenPad) raised undisclosed amount in a  funding round from OKX Ventures (ex OKEx Blockdream Ventures).

Pencils Protocol is an innovative auction platform and yield aggregator on Scroll. By integrating zero-knowledge rollups, proof-of-humanity logins, and on-chain verifiable randomness, Pencils Protocol offers a fair launch platform that empowers builders with a comprehensive toolkit of Zk solutions, leveraging the native features of Scroll for enhanced functionality and security.

Peaq raised $20M in a Public sale  funding round from .

Peaq is a Layer 1 for decentralized physical infrastructure networks (DePINs). Peaq Network is dedicated to powering real-world applications through blockchain technology, enabling the development of decentralized protocols and applications (DePINs and dApps) across sectors like mobility, connectivity, and energy. It emphasizes building a highly decentralized, scalable, and environmentally friendly infrastructure to support machines, vehicles, robots, and devices. Peaq's ecosystem is designed to facilitate the tokenization of machine real-world assets (RWA), promoting innovation and adoption in various industries.

Param Labs raised $7M in a  funding round from Animoca Brands*, Delphi Ventures, Merit Circle, P2 Ventures (Polygon Ventures), Mechanism Capital, NxGen, Cypher Capital, Faculty Group, MH Ventures, Double Peak Group, TRGC.

Param Labs is an AAA game and blockchain development studio focused on creating top-tier blockchain-integrated games with player-owned digital assets. With headquarters in Europe and the United States, they lead in developing high-quality MMO games, aiming to merge traditional gaming with Web3 through user-friendly experiences and sustainable ecosystems. Their projects include the Multiplayer Game KIRAVERSE and the 3D game-ready avatar usable in Rockstar games and Fortnite, Pixel To Poly, among others.

Cross the Ages raised $3.5M in a  funding round from Animoca Brands*, Sebastien Borget.

Mobile-first collectible card game set in a dystopian clash of worlds, based on seven fantasy and science fiction novels.

Multipool raised $650K in a  funding round from NxGen*.

Multipool is a decentralized protocol aimed at revolutionizing decentralized finance (DeFi) trading. By addressing the challenges present in current DeFi trading environments, Multipool offers an efficient, secure, and versatile solution for traders and investors. With innovative features such as an independent on-chain order book, transparent auctions, and repo lending, Multipool empowers users with enhanced price execution, fair order execution, and flexible lending options, while ensuring the highest levels of security and decentralization.

Chainstack raised $6M in a  funding round from SBI Holdings, Sygnum, Azimut, Unicorn Factory Ventures (UF Ventures).

Chainstack is a leading provider of web3 infrastructure-as-a-service, offering developers easy access to blockchain platforms. With a focus on high performance and enterprise-grade reliability, Chainstack empowers developers to deploy and manage blockchain nodes seamlessly, enabling them to build and scale blockchain applications without the hassle of managing underlying infrastructure.

STON fi raised undisclosed amount in a  funding round from CoinFund, Delphi Ventures, Karatage, TON Ventures, Anton Bukov, Sergej Kunz.

STON fi is a decentralized exchange (DEX) powered by the TON Blockchain, offering users virtually zero fees, low slippage, and a user-friendly interface. It operates as an automated market maker (AMM), enabling users to swap assets without relying on a central party and allowing anyone to provide liquidity to liquidity pools in exchange for fees. STON fi aims to make cryptocurrency trading accessible to a wide audience, prioritizing community engagement and support.

Zeta Markets raised $5M in a Strategic  funding round from Electric Capital*, Digital Asset Capital Management (DACM), AirTree Ventures, Selini Capital, Anatoly Yakovenko, Jordi Alexander, Alex Smirnov.

Zeta is the premier under-collateralized DeFi derivatives platform, providing liquid derivatives trading to individuals and institutions alike.

Anomaly raised $1.5M in a  funding round from Decasonic, Shima Capital, BreakOrbit, Round13 Capital, Zeneca.

Anomaly is an AI gaming studio and Layer 3 blockchain innovator at the forefront of reshaping gaming. By blending Web3 with SocialFi and harnessing advanced AI, Anomaly aims to create immersive experiences that transcend traditional boundaries. Anomaly sets itself apart with rapid game development, AI-powered tools, and a commitment to community engagement, inviting gamers and developers to join the movement toward a new era of interactive entertainment.

Lifeform raised $450K in a Public sale  funding round from .

Lifeform is a decentralized visual digital identity (DID) solution provider. The platform’s core technologies include: hyper-realistic 3D avatar creation tools; visual DID protocols; secure and innovative contract solutions; decentralized identity systems for Web3 avatars; metaverse engine software development kits (SDKs).

Gamic raised $1.8M in a  funding round from P2 Ventures (Polygon Ventures), Gate Labs, Mapleblock Capital, Mulana Capital, Double Peak Group, Momentum 6 (M6), DWeb3 Capital, LD Capital, Sandeep Nailwal, Kryptos, Vijay Pravin Maharajan.

Gamic is a decentralized messaging platform designed for individuals and communities seeking to interact with Web3 products and services. Offering a range of management solutions tailored for friends, gamers, brands, creators, and community managers, Gamic combines the convenience of Web2 with the benefits of Web3, facilitating seamless engagement in the decentralized ecosystem.

Re raised $7M in a  funding round from Electric Capital*.

Re is a blockchain-powered reinsurance protocol. It is the RWA Platform specializing in offering tokenized reinsurance

Sekuya raised $1.6M in a  funding round from SingularityDAO*, OIG Capital (Oracles Investment Group), Gains Associates, NewTribe Capital, SeedThrift Ventures, Bigger Than Race VC.

Sekuya is a Singapore-based video game company committed to transforming the gaming industry through a community-driven approach within an anime epic fantasy universe. Their flagship project, Sekuya Multiverse, merges the popular gaming genres of MOBA and RPG, promising a novel gaming experience for over 250 million players globally. With a burgeoning community base in Southeast Asia and beyond, Sekuya Multiverse offers an immersive experience set in the Novae Terrae universe, where players, known as "Jumpers," can customize characters, engage in captivating storylines, and battle to collect sekumon souls for grand rewards.

Fireblocks raised undisclosed amount in a  funding round from HAUN Ventures.

Fireblocks is a crypto and digital asset platform for Institutions. Fireblocks' software and APIs are used to custody, manage treasury operations, access DeFi, mint & burn tokens, and manage their digital asset operations.

Chainalysis raised undisclosed amount in a  funding round from HAUN Ventures.

Chainalysis is a blockchain data platform offering data, software, and services to various entities worldwide. Trusted by government agencies, financial institutions, exchanges, and cybersecurity companies in over 70 countries, Chainalysis provides crucial data-driven solutions for investigation, compliance, and market intelligence, contributing to the safe growth of cryptocurrency adoption and usage.

UXLINK raised $5M in a  funding round from SevenX Ventures, INCE Capital, Hashkey Capital.

UXLINK is a Web3 social platform designed for mass adoption, offering users the ability to create social assets and participate in cryptocurrency trading. This innovative platform includes a range of modularized Dapps covering onboarding, social graph formation, group tools, and socialized trading.

Engines of Fury raised $550K in a Public sale  funding round from .

Engines of Fury is a free-to-play blockchain game aiming to revolutionize the gaming industry by offering unparalleled quality and attracting a massive influx of users from the global Web 2 gaming community. It is a post-apocalyptic top-down extraction shooter.

* fund, that lead investment round