Crypto Fundraising weekly
Dates: 12 – 18, Nov 2023

This week's biggest funding round

Blockchain.com raised $110M in a Series E funding round from Kingsway Capital*, Baillie Gifford, Lakestar, Lightspeed, Coinbase Ventures.

Blockchain.com is a centralized cryptocurrency exchange established in 2012 and is registered in United Kingdom, providing services such as crypto exchange, blockchain exploration, and crypto wallet solutions. It caters to both individuals and institutions, offering secure transactions, user-friendly interfaces, and educational resources.

Pre-seed and Seed investment rounds

Sleek raised $5M in a Seed funding round from Binance Labs Fund, Shima Capital, The Spartan Group, Symbolic Capital (ex Hyperedge Capital), Big Brain Holdings.

Sleek, a blockchain-based social platform, offers a unique card and Telegram bot for seamless connections. Acquired via word-of-mouth at events, it prioritizes genuine interactions over token-based engagement. Offering prism and premium card options for easy networking.

Union Labs raised $4M in a Seed funding round from Galileo*, Semantic Ventures*, Tioga Capital Partners*, Nascent*, Lightshift, Chorus One.

Union Labs is a blockchain interoperability developer creating a cross-chain bridge using zero-knowledge proofs. The Union network serves as an efficient zero-knowledge infrastructure layer for various applications, including message passing, asset transfers, NFTs, and DeFi. It prioritizes speed, security, future-proofing, and user-friendliness with a high-level API for developers.

Taproot Wizards raised $7.5M in a Seed funding round from Standard Crypto*, Geometry, Collider Ventures, Starkware, UTXO Management, Bitcoin Frontier Fund, Masterkey VC, Newman Capital.

Taproot Wizards is a Bitcoin-centric project inspired by the early Bitcoin wizard meme, aiming to rekindle the magic and sense of community within the Bitcoin space. With the mission to rebuild the "Wizard Village," Taproot Wizards invites enthusiasts to join in and embrace the magic of Bitcoin through the creation and sharing of "Magic Internet JPEGs" and the revival of forgotten Bitcoin verses. The project seeks to reignite the spark of curiosity and camaraderie that characterized the early days of Bitcoin.

Rho Protocol raised $2.2M in a Pre-seed funding round from Speedinvest*, Keyrock, Re7 Capital, Daedalus, Dmitry Tokarev.

Rho Protocol is a non-custodial platform revolutionizing institutional-grade interest rate derivatives trading. By seamlessly integrating crypto-specific and traditional rates on-chain, it offers a transparent and secure marketplace for derivatives, providing capital-efficient opportunities for institutional crypto traders. It focuses on areas such as staking, digital asset lending, and funding rates. The upcoming private beta launch on Arbitrum marks a key milestone in reshaping interest rate markets in the decentralized crypto landscape.

Artifact Lab raised $2M in a Pre-seed funding round from RW3 Ventures*, IOSG Ventures*, Raptor Group, Cypher Capital, HerculesDAO.

Artifact Lab is a cutting-edge platform revolutionizing mobile game monetization through its Web3-powered Universal Player Profile. This cross-game profile connects players across networks, enabling efficient user acquisition for Web3 games and fostering brand affinity through engaging in-game advertising.

Beoble raised $2M in a Pre-seed funding round from Digital Currency Group (DCG)*, Samsung Next*, Hashkey Capital, Genesis Block Ventures Capital (GBV), Tokenbay Capital, Momentum 6 (M6).

Beoble is a Web3 messaging and social platform that facilitates secure wallet-to-wallet communication, emphasizing end-to-end encryption and decentralized connectivity. The platform introduces the Communication Delivery Graph (CDG) to ensure privacy in both content and delivery path, enhancing user data control. Beoble adopts a community-owned model, rewarding users with points for interactions and promoting equitable revenue distribution among chatroom members.

CFX Labs raised $9.5M in a Seed funding round from Shima Capital, Decasonic, Antalpha Ventures, CMT Digital, Corazon Capital, Kraken Ventures, New Form Capital, Metropolitan Capital Bank and Trust, Hard Yaka.

CFX Labs is a financial infrastructure company revolutionizing money movement through efficient, secure financial solutions, collaborating with brands for optimized transactions. Leveraging the Solana blockchain and its stablecoin fxUSD, CFX Labs provides instant, secure international transactions. The MoveMoney embedded wallet facilitates fiat transfers at U.S. locations like Walmart and CVS.

Nirvana Labs raised $1.2M in a Pre-seed funding round from Varys Capital*, Lattice Fund*.

Nirvana Labs is a Web3 infrastructure provider that empowers developers and companies with high-performance blockchain infrastructure. Utilizing the proprietary Nirvana Cloud platform, it offers cost-effective and reliable access for scalable and efficient dApp development. With a global presence across five continents, Nirvana Labs ensures low-latency, high-reliability, and customizable solutions for developers, providing secure and privacy-focused services to enhance the Web3 experience.

KKRT Labs (Kakarot) raised undisclosed amount in a Seed funding round from Stake Capital*, LongHash Ventures*, Eterna Capital, Fenbushi Capital, OKX Ventures (ex OKEx Blockdream Ventures), Foresight Ventures, SevenX Ventures, Builder Capital, Stix, Bixin Ventures, Signum Capital, Moonrock Capital, Coin Merge Strategy (CMS), NxGen, Aglaé Ventures, UOB Venture Management.

Kakarot is a zkEVM (zero-knowledge Ethereum Virtual Machine) implemented in Cairo, a language associated with the CairoVM. It enables the deployment of Ethereum smart contracts on Starknet, a layer 2 scaling solution for Ethereum, while providing provable transactions and blocks. Developers can utilize Kakarot to build and deploy EVM apps, maintaining compatibility with the Ethereum ecosystem and offering interoperability with native Starknet protocols.

EthXY raised $1.6M in a Pre-seed funding round from a16z Crypto Startup School (CSS)*, Orange DAO*, Pioneer Fund, WWVentures, Nonce Classic, FounderHeads VC, Space Whale Capital, MH Ventures, Moneyture Ventures, YTWO VC, WAGMI Ventures, DAO KONDR VC, Pepper Ventures.

EthXY is a crypto consumer product platform focused on minimizing interface friction and maximizing gratification. Their latest product is a massively multiplayer online role-playing game (MMORPG) built within the Telegram chat window, featuring poker combat mechanics and dynamic character visualizations. EthXY aims to provide a friction-free and compelling consumer experience, leveraging innovations and seamless interactions with blockchain through Base on Telegram.

SteakHut Finance raised undisclosed amount in a Seed funding round from Varys Capital*, Blizzard, Avalaunch, Hansen, IronBoots, Coinflipcanada.

SteakHut Finance is a DeFi platform specializing in yield generation through staking, liquidity mining, and lending/borrowing services. Users can earn passive income with $STEAK governance token and benefit from simplified liquidity management. The platform operates on Avalanche, offering diverse yield-generating services within the Web3 ecosystem.

Glacier Labs raised $2.9M in a Seed funding round from Foresight X, UOB Venture Management, Signum Capital, Cogitent Ventures, Gate Labs.

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.

Napier Labs raised $1M in a Pre-seed funding round from MrBlock, Michael Egorov, C2tP, Winthorpe, Charlie, Brandon Neal, Sidney Gottlieb, Jinwoo Park, Edward Mulraney, Sho Yoshida, Fracton Ventures, B Dash Ventures, Curve Labs, Convex Finance, Euler Labs, DeFiLama com, Prisma Finance, Liquity, Yearn, Aave Grants, MYTY, FLICKSHOT.

Napier is a liquidity hub for yield trading, focusing on maximizing the potential of the Curve ecosystem. It allows users to implement versatile yield management strategies, enabling any fixed-term asset to be listed on Napier (Curve), creating a capital-efficient ecosystem with incentives on Curve and Convex Finance. The Napier native token (NPR) operates on a veToken model, controlling various protocol aspects such as time-dependent pools, fixed-term asset parameters, fees, emissions, and governance, offering participants the ability to shape and incentivize yield sources through governance participation.

Other investment rounds

Bazooka Tango raised $5M in a  funding round from BITKRAFT Ventures*, RW3 Ventures, Sfermion, 1up Ventures, Foresight Ventures, Builder Capital.

Bazooka Tango, a gaming studio formed by former Vainglory developers, is developing Shardbound, launching on Immutable zkEVM, combines NFT trading card gameplay with a turn-based RPG, requiring strategic placement of characters on a tiled board.

Blocksmith raised undisclosed amount in a  funding round from SBI Holdings, Headline Asia, J-CAM Corporation, Infinity Ventures Crypto (IVC).

Blocksmith is a Japanese blockchain company providing consulting, development, infrastructure management, tokenization, and smart contract services. With a proven track record, it focuses on blockchain games, AI labs, and Web3 wallet partnerships, preparing for a potential listing. The company empowers businesses to harness blockchain for enhanced efficiency, security, and transparency, standing as a leading provider in Japan's transformative blockchain landscape.

Kinto raised $3.5M in a  funding round from Kyber Capital*, The Spartan Group*, ParaFi Capital*, SkyBridge Capital, Kraynos Capital, Deep Ventures, Modular Capital, Tane, Robot Ventures, Santiago R. Santos, Alex Klokus.

Kinto is a Layer-2 solution on Ethereum, providing secure and insured financial services. It operates with a non-custodial, transparent, and permissionless approach, governed by a community-elected two-layer system. Kinto merges traditional and decentralized finance, offering the benefits of KYC to DeFi without sacrificing advantages. The platform ensures user safety through KYC, insurance, and AML & fraud monitoring at the blockchain level.

Uniblock raised $2.3M in a  funding round from Cadenza, Blockchain Founders Fund, Side Door Ventures, Aquanow (AQN), Serafund, Hustle Fund.

Uniblock is a unified Web3 API, simplifies blockchain interaction for developers by offering a single interface to access diverse blockchain data and services. With features like token and NFT data retrieval, transaction tracking, and smart contract deployment, Uniblock streamlines Web3 application development by abstracting away complexities. Developers can efficiently and effectively build Web3 applications using Uniblock's user-friendly interface and comprehensive toolset.

Kinetex Network raised undisclosed amount in a Strategic  funding round from Factor Ventures*, Gnosis DAO*.

Kinetex is a decentralized cross-chain protocol that facilitates secure asset transfers across blockchains, utilizing zero-knowledge proofs (ZKPs) for transaction privacy and efficiency. The platform enables frictionless cross-chain transactions and bridging different blockchain networks. Kinetex's innovative approach includes storing assets within the network without creating wrapped tokens, maintaining the integrity of original assets and enhancing security.

Sei Network raised undisclosed amount in a Strategic  funding round from Circle Ventures*.

Sei Network is a blockchain Layer-1 created specifically for DeFi with the aim of becoming a foundational platform for the future financial system. It is built using the Cosmos SDK and Tendermint Core. Sei Network has a built-in on-chain orderbook that allows smart contracts access to shared liquidity.

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

Arkham is a crypto intelligence platform that systematically analyzes and deanonymizes blockchain transactions, showing users the people and companies behind blockchain activity, along with data and analytics about their behavior. To generate intelligence at scale, Arkham uses Ultra, a proprietary AI-powered algorithmic address matching engine.

Superstate raised $14M in a Series A  funding round from Distributed Global*, CoinFund*, Breyer Capital, Galaxy Digital, Arrington Capital, Road Capital, CMT Digital, Folius Ventures, Nascent, Hack VC, Modular Capital, Department of XYZ.

Superstate is an asset management firm that utilizes blockchain technology to modernize investing through tokenized financial products. The company's approach aims to make investment products more efficient, transparent, and accessible, offering investors a seamless and secure experience. Superstate has submitted an Ethereum-based open mutual fund, the Superstate Short‑Term Government Bond Fund, to the U.S. Securities and Exchange Commission.

Hinkal Protocol raised $4.1M in a  funding round from Draper Associates*, Orange DAO, Psalion VC, NGC Ventures (NEO Global Capital), Draper Dragon, Rough Draft Ventures, No Limit Holdings (NLH), Quantstamp, SLVC, Aquanow (AQN), Superblock, PEER Venture Partners, Blocklabs Capital, Web3.com Ventures, ODOS, Blockchain Builders Fund.

Hinkal is a ZK-based protocol offering private trading and yield farming on EVM chains. It enables untraceable transactions on major DEXs, staking, and liquidity provision, eliminating the need for withdrawals. Using zkSNARKs and stealth addresses, Hinkal ensures low privacy costs and compliance for DeFi traders, making it suitable for active LP/yield farming and buy-and-hold strategies.

Fnality International raised $95M in a Series B  funding round from Goldman Sachs*, BNP Paribas*, DTCC, Euroclear, Nomura, WisdomTree, Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, UBS.

Fnality is a global consortium of banks developing a regulated payment system for tokenized assets, aiming to overcome the limitations of traditional payment systems in handling digital asset transactions. The platform, originally conceived as the Utility Settlement Coin (USC) Project, focuses on providing efficiency, scalability, and security for cross-border settlements, ultimately reducing counterparty risk. As a key player in enabling the growth and adoption of tokenized assets, Fnality addresses the challenges in financial markets through its innovative approach to distributed ledger technology.

Baton raised $4.2M in a  funding round from BITKRAFT Ventures*, TechStars, Dorm Room Fund, NYU Venture Innovation Fund, Berkley Center for Entrepreneurship, Franklin Templeton, Dark Arts, Harmonic Future Fund.

Baton is a music collaboration platform streamlining the creative process for musicians, providing a centralized workspace, and developing blockchain-based protocols for transparency and fair compensation. The platform's Media Player offers detailed insights into material views, listens, and idea downloads, enhancing the efficiency of music collaboration.

BC Technology Group raised $90.1M in a Strategic  funding round from BGX*.

BC Technology Group, the parent company of OSL, is a diversified investment holding company, focusing on digital assets and blockchain technologies. Operating through three core divisions—Digital Assets, Blockchain Platforms, and Advertising Services—it provides comprehensive services such as investment advisory, trading, custody, platform development, and customized advertising solutions.

Modhaus raised $8M in a Series A  funding round from Sfermion*, SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III (KOIF III), Foresight Ventures.

Modhaus is an EnterTech agency, focusing on K-Pop and using blockchain for fan engagement. Modhaus has launched tripleS, the world's first K-Pop girl group made and operated by its fans, using a non-fungible token (NFT) voting system on the COSMO app.

The Block raised undisclosed amount in a M&A  funding round from Foresight Ventures*.

The Block is a leading independent news and data platform focused on cryptocurrency and blockchain industries, delivering comprehensive coverage, analysis, and original research. The Block empowers investors and enthusiasts with nuanced insights into the intersection of technology, government, and financial markets in the crypto space. The recent strategic overhaul, including innovations like Pro Deals and Priority News API, showcases its commitment to providing cutting-edge information.

* fund, that lead investment round