Crypto Fundraising weekly
Dates: 19 – 25, May 2024

This week's biggest funding round

Farcaster raised $150M in a Series A funding round from Paradigm*, Andreessen Horowitz (a16z crypto), HAUN Ventures, Union Square Ventures (USV), Variant Fund, Standard Crypto.

Farcaster is a sufficiently decentralized social network. It is an open protocol that can support many clients, just like email.

Pre-seed and Seed investment rounds

Plume Network raised $10M in a Seed funding round from HAUN Ventures*, Galaxy Digital, Superscrypt, Selini Capital, Reciprocal Ventures, A Capital, SV Angel, Portal Ventures, Calvin Liu, Andrew Kang, Eric Chen, Mirza Uddin, HDF humble defi farmer.

Plume Network is a modular, EVM-compatible Layer 2 blockchain focused on Real-World Assets (RWAs), designed to provide a full-stack infrastructure for compliant deployment of any asset class. It supports activities like earning yield, borrowing/lending, trading, and speculating with leverage, while integrating compliance measures such as KYC and AML. Currently in private testnet, Plume has over 80 RWA and DeFi projects building on its network and utilizes Arbitrum Orbit for its EVM chain and Celestia for data availability, ensuring fast transactions and low fees.

Aria (Inutan X) raised undisclosed amount in a Seed funding round from Folius Ventures*, The Spartan Group*, Merit Circle*, Galaxy Interactive, Animoca Brands, Formless Capital, Big Brain Holdings, Selini Capital, Bitscale Capital, Liquid X Ventures, Monad Labs, 32bit Ventures, MrBlock, DCF God, MacnBTC, cr0ss eth, Ash Crypto.

Aria is a scalable RPG game developed by Inutan Studios and governed by the $ARIA token. In Aria, players can explore an open world environment, engaging in epic quests and battles.

Pencils Protocol (PenPad) raised $2.1M in a Seed funding round from OKX Ventures (ex OKEx Blockdream Ventures), Animoca Brands, Galxe (ex Project Galaxy), Gate Labs, Presto Labs, Sandy Peng, Ryan Li.

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.

IVX raised $1.2M in a Seed funding round from Animoca Ventures*, AVID3*, Big Brain Holdings, Cogitent Ventures, Forbole, Web3Port Labs.

IVX is a native options protocol built exclusively on the Berachain Polaris EVM tech stack, offering zero-days to expiry (0DTE) options for crypto assets in a permissionless and secure manner. Leveraging Berachain's Berps market, IVX provides a user-friendly platform for high leverage exposure with minimal capital, no risk of liquidation for buyers, and high APY for sellers. Users can explore the IVX Artio Testnet to experience the benefits of 0DTE options and participate in a large incentive program before its mainnet launch.

Blockless raised $8M in a Seed funding round from M31 Capital, Chorus One, Interop Ventures, No Limit Holdings (NLH), NGC Ventures (NEO Global Capital), MH Ventures.

Blockless is a platform designed to launch, secure, and integrate Network Neutral Applications (nnApps) at unprecedented speeds, pioneering a modular application paradigm in Web3. It allows Web3 apps to run on specialized networks for specific workloads, using blockchain mainly for authentication, value transfer, and ensuring system trust and integrity. Blockless offers a WASM-based, verifiable serverless platform that supports a wide range of decentralized applications with flexibility, scalability, and reliability, while its BLS token facilitates node staking and payment for platform services.

Other investment rounds

FEATURE raised $1.9M in a  funding round from 2 Punks Capital, InterVest, Avalanche, Acme Innovation, SterlingVC.

Feature is an entertainment studio and technology company. Their proprietary Smart Content™ technology connects audiences to brands through novel, interactive touch-points seamlessly embedded in the content they love. Each interaction generates automated rewards, enhancing the content experience, creating new streams of revenue, and delivering value to both audiences and brands.

Cysic raised $12M in a Series A  funding round from Hashkey Capital*, OKX Ventures (ex OKEx Blockdream Ventures)*, ABCDE Capital, Bit Digital, CoinSwitch, IDG Blockchain, Matrix Partners, Polychain Capital, SNZ Holding, Web3com Ventures.

Cysic is zero-knowledge (ZK) hardware startup aims to provide hardware acceleration solutions for ZK proof protocols. Cysic team developed a FPGA prototype of multi-scalar multiplication (MSM), which is an important component within ZK protocols.

RunesFi raised $400K in a  funding round from Cogitent Ventures, Oddiyana Ventures, Lavender Capital, WeeHODL, Zephyrus Capital, Samurai Ventures.

RunesFi is a comprehensive infrastructure hub for Bitcoin, utilizing the Runes Protocol to enhance DeFi capabilities. It includes features like the first decentralized exchange (DEX) on Runes, an engraver for creating and dispatching new runes, and various infrastructure products to support Bitcoin's DeFi ecosystem. With significant traction and a focus on efficient transactions and reduced costs, RunesFi aims to lay the foundation for mass adoption of DeFi on Bitcoin.

Dora Factory raised $10M in a Strategic  funding round from Nomad Capital, No Limit Holdings (NLH), Sky9 Capital, UOB Venture Management, Signum Capital, UVM Signum Blockchain Fund, Longling Capital, Interop Ventures.

Dora Factory is a protocol specializing in decentralized governance and multi-chain funding for public goods, offering innovative solutions like Public Good Staking infrastructure and Dora Vota for PoS networks and open-source communities. The protocol's focus on community engagement and impact solidifies its reputation as a dependable partner in the Web3 ecosystem.

Natix Network raised $5M in a Public sale  funding round from .

Natix Network is a blockchain-based and crowdsourced camera network that creates a real-time map of the world. It uses AI technology to collect data such as traffic volume, road damages, and infrastructure issues, while ensuring 100% privacy compliance. The network aims to combine its AI technology with the world's 45 billion existing cameras to create a new crowdsourced geospatial data economy powered by the "Internet of Cameras," where camera owners earn crypto in return for contributing real-time data.

Fantom (Sonic) raised $10M in a Strategic  funding round from Hashed*, UOB Venture Management, Signum Capital, Aave Companies, Sam Kazemian, Stani Kulechov, Robert Leshner, Michael Egorov, Tarun Chitra, Fernando Martinelli.

Fantom is a high-performance, scalable, and secure smart contract platform for digital assets and dApps, known for its fast throughput and EVM compatibility. Developers can easily port Ethereum-based dApps to the Fantom Opera mainnet, enhancing performance and reducing costs. The Fantom Foundation is launching the Sonic Foundation for governance and treasury management and Sonic Labs for decentralized application development, aiming to advance the platform with sub-second finality.

MANTRA raised undisclosed amount in a  funding round from Laser Digital.

MANTRA is a Middle East-focused project securing licensures from Dubai's crypto regulator VARA, targeting the crypto-native community. It aims to fill a gap in the Cosmos ecosystem by creating a chain of regulated digital assets for users valuing regulatory compliance. Built on Cosmos SDK and Tendermint consensus, MANTRA offers a permissionless blockchain for developing Web3 applications in a regulated and compliant environment.

Alphaledger raised $9.5M in a Series A  funding round from EJF Capital*.

Alphaledger is a direct and transparent loan and bond marketplace designed to streamline debt financing and enhance engagement with investors, particularly in the US municipal market. By leveraging asset digitization and blockchain technology, Alphaledger offers a modern alternative to traditional securities issuance and trading processes.

WeatherXM raised $7.7M in a Series A  funding round from Lightspeed Faction*, Protocol Labs, Borderless Capital, Arca Fund, Alumni Ventures (AVG), Placeholder, Red Beard Ventures, Metaplanet, GS Futures, Consensys Mesh, dlab, Eleftherios Diakomichalis, Juan Benet.

WeatherXM is a community powered weather network, that rewards weather station owners and provides accurate weather services to Web3 enterprises.

Kelp DAO raised $9M in a Private  funding round from SCB Limited*, Laser Digital*, Bankless Ventures, Hypersphere, Draper Dragon, Digital Asset Capital Management (DACM), Cypher Capital, ArkStream Capital, Cluster Capital, GSR Markets LTD, LongHash Ventures, Side Door Ventures, NOIA Capital, HTX Ventures (ex Huobi Ventures), AVID3, ViaBTC Capital, DWF Labs, Coinseeker, Alex Svanevik, Scott Moore, Marc Zeller, Amrit Kumar.

Kelp DAO is a liquid staking platform focused on creating Liquid Restaking Solutions (LRS) for public blockchain networks. It is developing rsETH on EigenLayer for Ethereum, allowing restakers to mint rsETH tokens that represent fractional ownership of underlying assets, thereby providing liquidity to traditionally illiquid restaked assets. Kelp DAO enables users to leverage rsETH tokens in DeFi, exchange them for liquidity, or redeem the underlying assets, without imposing fees on LST deposits.

StripChain raised $10M in a  funding round from Sora Ventures*, Hyperithm, Shima Capital, Hypersphere, Mechanism Capital, Ascensive Assets, Santiago R. Santos, Ryan Selkis.

StripChain is a cross-chain interoperability protocol that allows developers to create commands, known as intents, to transfer data between blockchains. Using the stripVM system, it facilitates communication and coordination among different protocols, enhancing the functionality and integration of decentralized applications.

Zaros raised $1.8M in a  funding round from SNZ Holding, Cogitent Ventures, DCI capital (Dutch Crypto Investors), Rocky Holding, Honey Island Capital, BaseDAO, Anthony Sassano, Fernando Martinelli, Kieran Warwick.

Zaros is a decentralized perpetuals exchange powered by Boosted (Re)Staking Vaults, designed to maximize trading potential and enhance yields on Arbitrum, with plans to expand to Monad. It connects Liquid Re(Staking) Tokens (LSTs & LRTs) with perpetual futures, allowing up to 100x leverage and offering innovative ZLP Vaults for liquidity providers to earn ETH fees and additional rewards. Zaros also features cross-margin trading accounts, support for diverse markets including crypto, FX, and commodities, and a seamless trading experience with social login integration and one-click

MUA DAO raised $5M in a  funding round from Avalanche, ByteTrade Lab, RockTree Capital, Jihan Wu.

MUA DAO (Metaverse Universal Assets DAO) is a decentralized organization focused on building and operating infrastructure for the metaverse. It offers tools and resources for creators and businesses to design immersive experiences and fosters collaboration between creators and engineers to accelerate metaverse development. By promoting interoperability and partnering with established entities, MUA DAO aims to shape the future of the metaverse, bridging the gap between reality and virtual environments.

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

Aevo is a decentralized options exchange platform specializing in cryptocurrency options and perpetual contracts, providing a professional and high-performance trading experience. With features like margin trading and various option expiries, Aevo caters to experienced traders while ensuring security through its Ethereum blockchain foundation. Currently in closed beta, Aevo plans to launch its public mainnet in 2024, offering broader access to options and perpetual contract trading with a combination of off-chain order matching and on-chain settlements.

Bitski raised undisclosed amount in a M&A  funding round from Phantom.

Bitski is the NFT and digital collectible wallet.

Coinfirm raised undisclosed amount in a M&A  funding round from Lukka.

Coinfirm is a leading European blockchain analytics company that specializes in compliance, AML (Anti-Money Laundering) detection, and advanced blockchain analytics. It provides industry-leading solutions to analyze and manage risk in the blockchain-based financial ecosystem, aiming to create a safer blockchain economy by focusing on crypto AML compliance and illicit asset tracing.

ELFi Protocol raised $5M in a  funding round from IDG Capital, KuCoin Ventures.

ELFi Protocol is a decentralized derivatives trading platform that supports isolated and cross-margin models, offering leveraged trading through a multi-asset pool and liquidity providers earning from transaction fees and lending charges. It features ultra-portfolio trading modes for assets like BTC, ETH, and SOL, a new token-based liquidity pool for competitive APY, and support for LSD asset re-collateralization and altcoin contract markets.

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

Monad is a new proof-of-stake (PoS) Ethereum Virtual Machine (EVM) compatible Layer 1 blockchain designed to improve the overall Ethereum ecosystem; and decentralized computation platform. Monad offers throughput that is orders of magnitude higher than any existing smart contract blockchain, supporting 10,000 smart contract transactions per second (tps) through algorithmic improvements to virtual machine design and Byzantine Fault Tolerant (BFT) consensus mechanisms.

Sorbet raised undisclosed amount in a  funding round from Adaverse.

Sorbet is a platform dedicated to improving financial accessibility for the unbanked by simplifying the use of dApps and harnessing blockchain technology, including stablecoins and DeFi solutions. By integrating project management tools and streamlining payment processes, Sorbet aims to enhance the freelancing experience, empowering creative professionals to thrive in a supportive and collaborative community.

RunesTerminal raised undisclosed amount in a  funding round from Cogitent Ventures*, Coin Merge Strategy (CMS), Waterdrip Capital, NxGen, iAngels Capital, Pentos Ventures, Zephyrus Capital, Laser Digital, Genesis Block Ventures Capital (GBV), The DuckDao, Fusion7 Venture Capital, Pragma Ventures, Optic Capital, DEXTools, SeedThrift Ventures, Acquire Fi, Basics Capital, YAY Network, Nabais Capital, NewTribe Capital, x21 Digital.

RunesTerminal serves as the infrastructure provider for Runes Protocol, the first-ever launchpad designed specifically for the evolution of Bitcoin's ecosystem. It offers essential tools such as RunesScan for exploration, RunesPad for project launches, RunesEtch for issuing new runes, and RunesBook as a comprehensive wiki, aiming to propel innovation and development on the Bitcoin blockchain while providing a competitive edge to early adopters.

Nexis Network raised undisclosed amount in a Private  funding round from Castrum Capital.

Nexis Network is an open-source EVM blockchain platform designed for decentralized projects and applications, capable of processing up to 75,000 transactions per second with instant finality and extremely low fees. Nexis Network aims to create a transparent, community-driven ecosystem, integrating innovative technologies to address scalability, security, and decentralization. The platform supports Ethereum-based dApps and DeFi protocols, using its native token, NZT, for transactions, payments, and staking to maintain consensus.

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

Bitlayer introduces itself as the first Bitcoin security-equivalent Layer 2 solution, built upon BitVM. This innovative platform envisions shaping the future of the Bitcoin ecosystem with its key pillar solutions, aiming to enhance scalability, efficiency, and security for Bitcoin transactions. Bitlayer seeks to empower developers and users within the Bitcoin community by providing advanced infrastructure for the decentralized web.

* fund, that lead investment round