Crypto Fundraising weekly
Dates: 25 – 31, Aug 2024

This week's biggest funding round

Bridge raised $58M in a funding round from Sequoia Capital, Ribbit Capital, Index Ventures, HAUN Ventures.

Bridge is a stablecoin-based payments platform designed to simplify global money movement for businesses. It offers APIs that allow seamless integration of stablecoins into existing financial systems, enabling fast, secure, and cost-effective transactions across borders. Companies can issue their own stablecoins, manage global treasury operations, and pay employees in digital dollars. Bridge also provides solutions for expanding market reach and facilitating global transactions.

Pre-seed and Seed investment rounds

Kredete raised $2.3M in a Seed funding round from Blockchain Founders Fund (BFF)*, TechStars, Tezos Foundation, Polymorphic Capital, Launch Africa Ventures, Neer Venture Partners, Stellar Development Foundation (SDF), DNA Fund.

Kredete is a financial software platform designed to empower African immigrants by helping them build credit and send money back home with minimal fees. By integrating remittances with credit-building tools, Kredete enables users to support their families while establishing a strong financial foundation in their new countries. The platform aims to expand its services across Africa, providing tailored financial products that address the unique needs of the African immigrant community.

Time fun raised $3M in a Seed funding round from Brevan Howard Digital*, Coinbase Ventures, Zee Prime Capital, Breed VC, PTC Crypto (Palm Tree Crew), Advancit Capital, Maelstrom, Anatoly Yakovenko, Raj Gokal, Santiago R. Santos.

time.fun is a time tokenization platform that allows creators, known as timeholders, to monetize their time by connecting with fans through 1-on-1 experiences, such as meetings or messages. As timeholders provide more value, the market demand for their time increases, boosting its value. Fans can trade or redeem minutes of time, and timeholders earn ETH from these transactions. The platform also offers features like timeholder-gated Telegram groups and a fund for rewarding loyal fans, creating an interactive and profitable ecosystem.

SnakeLite raised $4M in a Seed funding round from Redpoint*, UpHonest Capital, Mirana Ventures, Sky9 Capital, Fenbushi Capital, NGC Ventures (NEO Global Capital), AntAlpha, CyberConnect, Alchemy Pay, KuCoin Ventures, HTX Ventures (ex Huobi Ventures), Gate Labs, Redline Labs, Cobo, SNZ Holding, ViaBTC Capital, MEXC Ventures, Mask Network, Unstoppable Domains, One Boat Capital.

SnakeLite is a Tap-to-Earn Game on Telegram, offering players a novel way to explore the Web3 metaverse and earn tokens with screen taps. It leverages blockchain technology to provide gameplay experience while allowing users to earn digital assets effortlessly. The game also fosters a vibrant community, inviting players to actively contribute to its evolving ecosystem.

Trial Xtreme (Gameplay Galaxy) raised $11.2M in a Seed funding round from Blockchain Capital*, Merit Circle*.

Gameplay Galaxy is bringing Trial Xtreme to Web3. Players can earn active income by competing in tournaments and winning races.

Solayer raised $12M in a Seed funding round from Polychain Capital*, Hack VC*, Binance Labs Fund, Maelstrom, Big Brain Holdings, Nomad Capital, ABCDE Capital, Finality Capital, Road Capital, Cross-Chain Ecosystem Fund, Borderless Capital, Race Capital, Lvna Capital, Bitscale Capital.

Solayer is building a restaking network natively on Solana, leveraging Solana's economic security and premium execution to provide decentralized cloud infrastructure. This infrastructure enhances consensus and blockspace customization for application developers. Solayer's approach includes leveraging SOL's economic security to secure other systems and developing a shared validator network to extend Solana's security and infrastructure.

Echelon Market raised $3.5M in a Seed funding round from Amber Group*, Laser Digital, Saison Capital, Interop Ventures, 280 Capital, Cypher Capital, Serafund, Web3Port Labs, Re7 Capital, Selini Capital, DCF God, Zaheer Ebtikar.

Echelon is a decentralized financial market written in the Move programming language. Its users can borrow and lend assets to each other indirectly via non-custodial pools to earn interest or increase one's buying power with leverage.

Legion raised $2M in a Seed funding round from Cyber Fund*, Alliance DAO (ex DeFi Alliance), Delphi Labs, Coingecko, LongHash Ventures, Alex Svanevik, Mike Dudas, Ryan Watkins.

Legion provides a platform for retail investors to participate in on-chain fundraises with enhanced regulatory compliance and investor accountability. Projects using Legion can customize investment terms and create strong, organic communities through tailored allocation and investor whitelisting. Each investor is assigned a Legion Score, which adjusts based on their long-term value contributions, reducing short-term, exploitative behavior and minimizing bot or Sybil activity. This reputation system fosters a more committed and supportive investment community.

Chainbound (Bolt) raised $4.6M in a Seed funding round from Cyber Fund*, Maven 11 Capital, Semantic Ventures, Robot Ventures, Anagram, Bankless Ventures, Chorus One, Hasu, Anthony Sassano.

Chainbound is an Ethereum research and development firm focused on enhancing blockchain efficiency. Its flagship product, Bolt, introduces preconfirmations on Ethereum, enabling sub-second transaction confirmations and significantly reducing the typical seven-second wait time. Initially launching on the Helder testnet, Bolt is slated to go live on the Ethereum mainnet by year-end, promising a faster and more responsive blockchain experience.

Origami Finance raised $1.5M in a Seed funding round from Ouroboros Capital, Fjord Foundry, Good Partners, UpsideDAO, Aquanow (AQN), BeraLand, TempleDAO, Boba Tea Capital, Three Three Ventures, Smokey The Bera, Janitooor, Steve Bearwin, DCF God.

Origami Finance is an automated leverage protocol launching on Ethereum and BeraChain. Fully integrated with third-party lenders, Origami allows for folded Yield-Bearing Token (YBT) exposure with full automation, maximising capital efficiency whilst minimising risk of liquidation and bad debt.

Nectar AI raised $3.9M in a Seed funding round from Mechanism Capital*, Karatage*, Synergis Capital, Maelstrom, Builder Capital, Baboon VC, Decima, Tekin Salimi, George Lambeth, Albert Chon, Charles Lu, Gabby Dizon.

Nectar AI is a Web3 generative AI platform that allows users to create and interact with uncensored, immersive AI companions. It offers two primary features: Image Creator for generating realistic or anime-style photos, and Roleplay for exploring fantasies and creating custom characters. Users can personalize their AI companions with high levels of detail and interact in multiple languages. The platform also supports on-chain and off-chain experiences, providing full IP ownership and monetization opportunities for creators.

Other investment rounds

Adot raised undisclosed amount in a  funding round from Aptos Network.

Adot is a decentralized AI search engine company focused on creating a trustworthy, decentralized search engine for the AI era and Web3 networks. Their vision includes attributes like universality, trustworthiness, explainability, and decentralization, aiming to redefine the future of the internet by integrating Web3-related data and empowering users and developers to contribute to and customize the AI-driven search experience.

Mereo raised undisclosed amount in a  funding round from Aptos Network.

Mereo is a platform allowing fans to earn benefits through their actions and reputation. It integrates dynamic ticketing, interactive quests, and community chat features, enabling IP owners to create immersive fan experiences. By capturing and rewarding fan interactions, Mereo transforms intangible community value into tangible rewards, fostering deeper connections between brands and their most loyal supporters.

Uniquid raised undisclosed amount in a  funding round from Amber Group, DWF Labs, ArkStream Capital.

Uniquid Layer is a platform focused on maximizing Bitcoin returns through unified liquidity management across multiple chains and centralized finance (CeFi) platforms. With top-tier security features like Anonymous Decentralized Verification (ADV) and innovative products such as Restaking as a Service, Uniquid Layer ensures enhanced security and optimized returns. The platform leverages financial incentives, social farming, and gamification to attract and guide new Bitcoin users, aiming to build the largest community within the Bitcoin ecosystem.

Level Protocol (Peregrine Exploration Inc.) raised $3.6M in a  funding round from Dragonfly Capital*, Polychain Capital*, Robot Ventures, Pier Two, EI Ventures, Global Coin Research (GCR), MrBlock, Balaji Srinivasan, Julian Koh, Sidney Powell.

Level aims to revolutionize the economic security of decentralized networks by integrating dollar stablecoins into their defense mechanisms. By transforming stablecoins from idle assets into productive instruments, Level enhances the stability and efficiency of network security. This innovative approach enables stablecoin holders to earn yields while securing multiple networks non-custodially. For decentralized networks, this dollarization offers cost savings, improved capital efficiency, and more stable security measures.

Edge Matrix Chain raised $20M in a  funding round from Amber Group*, P2 Ventures (Polygon Ventures)*, Cyberrock Venture Fund, Candaq Fintech Group, Raees Chowdhury.

EMC Protocol is a blockchain-based edge computing network that integrates smart contracts, decentralized storage, and consensus mechanisms to create a robust, decentralized computing infrastructure. By connecting servers, personal computers, and devices, it forms a unified platform for flexible and efficient computing resource sharing. Users can access a decentralized marketplace for computing power, with secure transactions facilitated by cryptocurrencies and smart contracts. EMC Protocol enhances network efficiency through intelligent routing and data caching, while ensuring high levels of data protection with advanced encryption technologies.

Quai Network raised $5M in a Strategic  funding round from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures.

Quai is a scalable, EVM compatible network of merge-mined blockchains enabling fast, accessible, and low-cost decentralized finance.

Oasys raised undisclosed amount in a  funding round from SBI Holdings.

Oasys is a public blockchain designed specifically for gaming, featuring fast transactions, zero gas fees, and an eco-friendly approach. It utilizes a unique multi-layered architecture that includes a highly scalable Layer 1 and a specialized Layer 2 for scaling solutions.

Bware Labs raised undisclosed amount in a M&A  funding round from Alchemy Ventures.

Bware Labs is a decentralized API infrastructure developer that provides an interface between Blockchain APIs consumers and node providers with integrated payment options and verified reliability. Bware Labs has developed Blast, a protocol for Web3 infrastructure, and has released the INFRA token to power the protocol. INFRA serves as the base for Blast's staking and delegation mechanism, incentivizing node operators and contributing to the decentralization and permissionless nature of the Blast protocol.

Verofax raised $3M in a  funding round from KAUST (King Abdullah University of Science and Technology)*, Plug and Play Ventures*, Navig8 Group*, Trove Capital UK*.

Verofax offers AI, AR, and blockchain-powered solutions that transform customer experiences and drive business growth. By integrating advanced technologies, Verofax helps brands elevate engagement through interactive packaging, traceability, and personalized promotions. Their platform enables businesses to create secure, verifiable product audits, sustainable assessments, and immersive customer interactions, resulting in higher ROI, increased loyalty, and better data-driven decisions.

Double jump tokyo raised $10M in a Series D  funding round from SBI Investment, Sony Corporation, Taisu Ventures, Gate Ventures, Bing Ventures.

double jump.tokyo is a pioneering company in blockchain game development, offering comprehensive support to game developers. They provide APIs, resources, and expertise to help build and market blockchain games. Founded in 2018, the company has partnered with major gaming companies and established a strong blockchain infrastructure. They are expanding Web3 content through collaborations with the SBI Group, Sony, and international cryptocurrency exchanges. Their upcoming blockchain game, “Battle of Three Kingdoms,” reimagines SEGA’s “Sangokushi Taisen” IP using blockchain technology.

Space and Time raised $20M in a Series A  funding round from Framework Ventures*, Lightspeed Faction*, Arrington Capital*, Hivemind*, M12, Digital Currency Group (DCG), F-Prime Capital, OKX Ventures (ex OKEx Blockdream Ventures), Circle Ventures, Alumni Ventures (AVG), TrueBridge Capital, Blockchange Ventures, Matter Labs, TRGC, Eterna Capital, Contango Digital Assets, Stix, M31 Capital, ArkStream Capital, Superscrypt, MH Ventures, White Star Capital, Gate Labs, Cypher Capital.

Space and Time is a decentralized data platform that combines AI and blockchain technology to offer verifiable and tamper-proof data services. The platform integrates on-chain and off-chain data, enabling secure, real-time analytics and SQL-based queries for smart contracts. With features like AI-driven SQL and zero-knowledge proofs, Space and Time provides a robust, scalable infrastructure for decentralized applications, enterprises, and developers to access and utilize data with complete transparency and accuracy.

Myco io raised $10M in a Series A  funding round from Daman Investments, Aptos Labs, Mocha Ventures, Ghaf Capital Partners, Arts3 Foundation, Factor6 Capital, Enjinstarter.

Myco is a decentralized video streaming platform that empowers creators and fans through blockchain technology. It allows creators to produce, distribute, and monetize content directly without intermediaries. Fans can support their favorite creators, participate in the creative process, and earn rewards. Myco integrates various tools and features that enhance engagement, ensuring a transparent, secure, and equitable content economy. By leveraging Web3 principles, Myco aims to redefine the relationship between creators and consumers in the digital space.

Soon raised undisclosed amount in a  funding round from Mustafa Al-Bassam, Anatoly Yakovenko, Lily Liu, Kartik Talwar, Amrit Kumar.

SOON utilizes the Solana Virtual Machine (SVM) with parallel transaction execution via Sealevel runtime, enhancing network performance and security. The Decoupled SVM, built on Anza’s SVM API, improves security by decoupling Transaction Processing Unit (TPU) and Proof of History (POH), reducing data availability wastage and removing unnecessary vote transactions. The SOON Stack enables deployment on any Layer 1 blockchain using ZK fraud proofs, significantly shortening dispute resolution times. It also offers configurable Data Availability (DA) options like EigenDA, Avail, or Celestia.

BSC Station raised undisclosed amount in a  funding round from K300 Ventures.

BSC Station (BSCS) aims to build a Full-Stack DEFI with NFT Auction on the Binance Smart Chain.

OneBalance raised $5M in a Angel  funding round from Konstantin Lomashuk*, Vasiliy Shapovalov*, Curved Ventures, Will Price, Henri Stern, Viktor Bunin, Sina Habibian, Banteg, Cobie, Hart Lambur, Igor Igamberdiev, Matthew Tan, Zaki Manian.

OneBalance is a framework for creating and managing Credible Accounts. A Credible Account is an extension to existing account formats (externally owned accounts, smart accounts, stateful accounts) which allows them to make credible commitments without the need for global consensus.

* fund, that lead investment round