Crypto Fundraising weekly
Dates: 24 – 30, Mar 2024

This week's biggest funding round

Parallel raised $35M in a funding round from Distributed Global, The Operating Group, VanEck, Focus Labs, Big Brain Holdings, Solana Ventures, Devmons, WWVentures, Builder Capital, Open Source Software Capital (OSSC), Base Ecosystem Fund, Collab+Currency, Synergis Capital, Amber Group, The Spartan Group.

Parallel is a competitive, free-to-play, sci-fi themed trading card game where players engage in strategic battles using decks they've built. The game revolves around accumulating energy and constructing armies to determine humanity's destiny. As a digital TCG, Parallel integrates deck building and in-depth strategy within a richly developed universe, offering a unique experience for players interested in both competitive play and sci-fi narratives.

Pre-seed and Seed investment rounds

Flock raised $6M in a Seed funding round from Lightspeed Faction*, Tagus Capital*, Digital Currency Group (DCG), Volt Capital, OKX Ventures (ex OKEx Blockdream Ventures), Inception Capital (ex OP Crypto), Kenzi Wang.

Flock is developing a platform leveraging federated learning for privacy-focused decentralized machine learning. Aimed at revolutionizing industries through decentralized AI, Flock introduces a competitive edge in machine learning with an open leaderboard and sponsored training tasks, fostering a community-driven approach to AI development.

Bitlayer raised $5M in a Seed funding round from Framework Ventures*, ABCDE Capital*, OKX Ventures (ex OKEx Blockdream Ventures), Alliance DAO (ex DeFi Alliance), Starkware, UTXO Management, Asymmetric fund, Kenetic, Kestrel 0x1, Global Coin Research (GCR), Web3Port Labs, Gate Labs, Mindfulness Capital, Cogitent Ventures, NxGen, Capital6 Eagle, PAKA, Comma3 Ventures, Kronos Research, Pragma Ventures, Faculty Group, Rising Capital, Samara Asset Group, The DuckDao, CSP DAO, DCI capital (Dutch Crypto Investors), Ryan Selkis, Loi Luu.

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.

Elixir Games raised $14M in a Seed funding round from SQUARE ENIX, Shima Capital, Solana Foundation.

Elixir Games introduces a PC Game Launcher that offers a curated selection of top indie games for a unique gaming experience. This platform not only serves as a game launcher but also as a gateway to a vast world of adventures. Elixir Games emphasizes a seamless integration of gaming with web3 technology, ensuring a smooth transition into the next generation of gaming with advanced distribution technology, web3 tools, and a commitment to sustainability.

Unstable Money raised $2.5M in a Seed funding round from Lattice Fund, Laser Digital, Axelar Network, Blockchain Founders Fund, Agnostic Fund, Artichoke Capital, Black Edge Capital, NewTribe Capital, NxGen, BlockBuilders.

Unstable introduces a novel approach as a leverage layer for restaked ETH, offering a platform that amplifies Ethereum's capabilities. It focuses on enhancing the utility and liquidity of staked Ethereum, providing users with advanced financial tools to leverage their holdings in innovative ways. This platform aims to contribute significantly to the DeFi ecosystem by offering a secure and efficient method to manage and multiply Ethereum investments.

BOB (Build on Bitcoin) raised $10M in a Seed funding round from Castle Island Ventures*, Mechanism Capital, Coin Merge Strategy (CMS), Bankless Ventures, Alliance DAO (ex DeFi Alliance), Asymmetric fund, Antalpha Ventures, Bitcoin Frontier Fund, RockawayX, UTXO Management, Web3.com Ventures, Zee Prime Capital, ViaBTC Capital, Modular Capital, Daedalus, IOSG Ventures, Hypersphere, Digital Finance Group (DFG), Nexo, domo.

BOB (Build on Bitcoin) is a groundbreaking Layer 2 solution with full EVM compatibility and native Bitcoin support. It's designed to empower development and innovation on Bitcoin, leveraging the Ethereum Virtual Machine for smart contract execution. This facilitates a seamless bridge between Bitcoin and Ethereum ecosystems, offering rollup functionality secured by Bitcoin's robust security. BOB's ecosystem is tailored for DeFi applications and various Bitcoin use cases, aiming to connect Ethereum users, apps, and exchanges with a single click.

BloodLoop raised $4M in a Seed funding round from Avalanche*, Merit Circle*, NeoTokyo, GD10 Ventures, Optic Capital, Chateau Crypto, FounderHeads VC, Andromeda Capital, DCI capital (Dutch Crypto Investors), Open Market Group (OMG), Black Dragon, Seedify, Zephyrus Capital, Luminescence Capital, Alex Becker.

BloodLoop is branded as the first hero-shooter game, promising a fresh take on the genre with unique gameplay mechanics and character-driven narratives. While specific details about gameplay features, settings, or character abilities cannot be directly accessed, the title suggests an emphasis on strategic combat and character customization, likely set in a richly detailed, dynamic world. This new approach aims to blend the excitement of shooter games with the depth of hero-based strategy, catering to fans looking for an immersive and competitive experience.

rug.ai raised $1.1M in a Pre-seed funding round from No Limit Holdings (NLH)*, Mask Network, Prismatic Capital, Builder Capital, Formless Capital.

rug.ai is building an infrastructure for the future of trading on-chain, powered by AI.

Riema Labs (Nubit) raised $3M in a Pre-seed funding round from dao5 (daofive), OKX Ventures (ex OKEx Blockdream Ventures), Primitive, Symbolic Capital (ex Hyperedge Capital), L2 Iterative Ventures (L2IV), GeekCartel, ABCDE Capital, LongHash Ventures, MH Ventures, Cogitent Ventures, ArkStream Capital, NGC Ventures (NEO Global Capital), Kosmos Ventures, Zephyrus Capital.

Riema Labs is a pioneering entity in the Bitcoin ecosystem, renowned for its innovative data availability layer designed to significantly reduce transaction costs. The startup’s innovative product is Nubit, the first-ever Bitcoin-native data availability layer, which leverages advanced techniques such as native staking and decentralized bridging to enhance data throughput, reduce storage costs, and improve accessibility on the Bitcoin network.

Satoshi Protocol raised undisclosed amount in a Seed funding round from Web3Port Labs*, Waterdrip Capital*, BEVM, Cogitent Ventures, SatoshiLab, MH Ventures, MoveBit.

1st stablecoin backed by Bitcoin. The Satoshi Protocol is designed to foster a new era of decentralized finance by enhancing transparency and efficiency in blockchain transactions. It emphasizes secure, trustless exchanges and aims to streamline financial operations across various blockchain networks, promoting a more interconnected and efficient digital economy. The project's innovative approach seeks to address some of the core challenges in the current DeFi landscape, including scalability and interoperability.

0G Labs raised $35M in a Pre-seed funding round from Hack VC*, Alliance DAO (ex DeFi Alliance), Animoca Brands, Delphi Digital, Symbolic Capital (ex Hyperedge Capital), OKX Ventures (ex OKEx Blockdream Ventures), Quantstamp, Daedalus, WAGMI Ventures, NGC Ventures (NEO Global Capital), dao5 (daofive), Bankless Ventures, gumi Cryptos Capital (gCC), Blockchain Builders Fund (BBF), Conflux Network, LongHash Ventures, Abstract Ventures, Dispersion Capital, Formless Capital, P2 Ventures (Polygon Ventures), Samsung Next, Backed, IMO Ventures, No Limit Holdings (NLH), Lecca Ventures, Eterna Capital, Wise3 Ventures, Crypto Times, Alumni Ventures (AVG), Builder Capital, Paramita, Orange DAO, Artichoke Capital, Zephyrus Capital, AlphaCrypto Capital, AVID3, Arca Fund, Token Metrics Ventures.

0G.ai introduces the first modular AI chain, aiming to revolutionize AI dApps with its infinitely scalable, programmable Data Availability (DA) layer. It offers a unique environment for friction-free development, leveraging Web3 modular infrastructure and advanced tools to unlock Web3's full potential.

BEVM raised undisclosed amount in a Seed funding round from RockTree Capital, Waterdrip Capital, ArkStream Capital, ViaBTC Capital, SatoshiLab, Web3Port Labs, Cogitent Ventures, MH Ventures, Mapleblock Capital, Zephyrus Capital, 7UpDAO, Lotus Capital.

BEVM introduces the first fully decentralized Bitcoin Layer 2 (L2) that is EVM-compatible and uses BTC as gas. It enables Ethereum ecosystem DApps to operate on Bitcoin L2, offering cross-chain interaction, data integrity assurance, decentralized processing, and advanced scalability. BEVM leverages Substrate for EVM compatibility, allowing developers to utilize popular Ethereum-based tools. This innovative approach aims to enhance the Bitcoin ecosystem by increasing usage and providing a decentralized, secure, and scalable platform for application development.

Other investment rounds

DappOS raised $15.3M in a Series A  funding round from Polychain Capital*, Nomad Capital, Flow Traders, Amber Group, Bing Ventures, IDG Capital, IOBC Capital, NGC Ventures (NEO Global Capital), UpHonest Capital, Taihill Venture, Waterdrip Capital, Spark Digital Capital, WAGMI Ventures, Chain Capital, Web3Port Labs, Bitrise Capital, SatoshiLab.

DappOS is an operating protocol that simplifies the user experience of interacting with crypto infrastructures, solving issues related to confusing web3 accounts and complicated workflows in dApps by providing a middle layer between users and crypto infrastructures, automating workflow execution.

Midas raised $8.8M in a  funding round from Framework Ventures*, BlockTower Capital*, HV Capital*, Coinbase Ventures, GSR Markets LTD, Hack VC, 6th Man Ventures (6MV), Axelar Network, FJ Labs, Cathay Ledger Fund, Theia Ventures, Lattice Fund, PEER Venture Partners.

Midas is an asset tokenization platform bringing exposure to institutional-grade assets on-chain.

Bondex raised $6.5M in a Public sale  funding round from .

Bondex is a Web3 talent marketplace revolutionizing professional networking by offering gamified experiences and tokenized rewards. With over one million monthly active users, it empowers participants to advance their careers, build reputations, and earn rewards through referrals and skill validation. By integrating blockchain technology and a reputation-based system, Bondex ensures equitable value distribution and fosters a thriving ecosystem of engagement and opportunity.

Peaq raised $15M in a  funding round from Generative Ventures*, Borderless Capital*, The Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, CRIT Ventures, Cogitent Ventures, NGC Ventures (NEO Global Capital), Agnostic Fund, Token Metrics Ventures, LBANK Labs.

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.

MyShell raised $11M in a  funding round from Dragonfly Capital*, Delphi Ventures, Bankless Ventures, Maven 11 Capital, Nascent, Nomad Capital, OKX Ventures (ex OKEx Blockdream Ventures), Balaji Srinivasan, Illia Polosukhin, Casey K. Caruso, Santiago R. Santos.

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.

Reya Network raised $10M in a  funding round from Framework Ventures, Coinbase Ventures, Wintermute, Fabric Ventures, Brevan Howard Digital, Amber Group, Robot Ventures.

Reya Network — the world’s first trading-optimised modular L2. The network design creates the deepest liquidity, best capital efficiency and highest performance for DeFi traders and liquidity providers.

MyPrize raised $8M in a  funding round from Dragonfly Capital*, Andreessen Horowitz (a16z crypto), Mechanism Capital, Arrington Capital, Breed VC, JST Capital, 2 Punks Capital, Luca Netz, Spencer Noon.

MyPrize is a web3 gaming startup focused on offering multiplayer online crypto casino experiences. MyPrize differentiates itself by transforming the single-player online gaming market into a more collaborative, multiplayer experience. Additionally, the platform is launching in early access mode, with plans for a general launch expected within the second quarter of 2024. MyPrize also introduced a rewards program, offering early users points called XP.

Gunzilla Games raised $30M in a  funding round from CoinFund*, Blizzard*, Republic Capital (ex Republic Labs), Morningstar Ventures.

Gunzilla Games is a game development studio, known for its innovation in multiplayer gaming. They are working on Off The Grid, a cyberpunk Battle Royale 2.0 game set in a dystopian future. Gunzilla Games empowers players with their GunZ platform, which grants them ownership over in-game possessions and enables in-game item trading using blockchain technology.

ALEX raised $10M in a Strategic  funding round from The Spartan Group*, Coin Merge Strategy (CMS), Digital Asset Capital Management (DACM), DWF Labs, Foresight Ventures, Ouroboros Capital, Summer Ventures, Cultur3 Capital, Everest Ventures Group (EVG).

ALEX is an open-source Bitcoin DeFi platform built on the Stacks Blockchain. It offers users the ability to launch tokens, fixed-rate and fixed-term borrowing/lending, advanced DEX, deposit tokens to earn interest, and obtain high returns through yield farming, with a focus on trading, lending, and borrowing of crypto assets with Bitcoin as the settlement layer and Stacks as the smart contract layer.

Illuvium raised $12M in a Series A  funding round from Arrington Capital*, King River Capital*, Animoca Brands*, The Spartan Group*, Arca Fund, Selini Capital, Laser Digital, P2 Ventures (Polygon Ventures), 32bit Ventures, Yield Guild Games (YGG).

Illuvium is a decentralized RPG and collection game series on the Ethereum blockchain. Players explore a fragmented world, capture powerful Illuvials as NFT assets, and engage in battles and trades. The project offers a triple-A blockchain gaming experience, with player-driven governance and regular revenue distributions.

Biconomy raised undisclosed amount in a Strategic  funding round from Borderless Capital, ConsenSys, Jump Capital, Taisu Ventures, Manifold, Side Door Ventures, Blockchain Founders Fund, Balaji Srinivasan, Jordi Alexander, CL207.

Biconomy provides plug-n-play APIs to improve the usability and accessibility of web3.0. Account Abstraction infrastructure provider.

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

StakeStone is a decentralized protocol that offers scalable, yield-optimizing services for Ethereum stakers. It utilizes STONE, a non-rebase token, to represent staked ETH, providing competitive yields across multiple blockchains through decentralized portfolio optimization. StakeStone supports cross-chain compatibility and multi-scenario adaptation, enabling users to maximize capital efficiency with real-time yield generation. It promotes an eco-system where STONE can be utilized in diverse DeFi scenarios, including exchanges, stablecoin minting, lending, and derivatives markets.

BlockGames raised $6M in a  funding round from Newman Capital*, 32bit Ventures*, Cypher Capital*, Sfermion*, SIG DTI (a Susquehanna International Group Company), Cumberland (DRW), Mapleblock Capital, Estoty, Maven Capital, Aquanow (AQN), Aptos Network, Presto Labs, FounderHeads VC, Devmons, Sebastien Borget, Alex Becker.

BlockGames Introduces Universal Player Profiles for Real-World Rewards, empowering players and solving user acquisition problems for games. BlockGames is a platform focused on bridging the gap between blockchain technology and gaming. It aims to innovate in the gaming industry by leveraging blockchain to enhance game features, player ownership, and overall gaming experiences. This approach includes integrating NFTs and decentralized finance elements into games, providing new ways for players to interact, trade, and earn within gaming ecosystems.

* fund, that lead investment round