Crypto Fundraising weekly
Dates: 26 Jan – 01 Feb 2025

This week's biggest funding round

Cipher Mining raised $50M in a funding round from SoftBank Fund.

Cipher Mining is the company that builds and operates industrial-scale data centers for Bitcoin mining and high-performance computing (HPC), including AI workloads. It strategically allocates power between mining and other computing services while expanding its data center capacity.

Pre-seed and Seed investment rounds

Cedar Money raised $9.9M in a Seed funding round from QED Investors*, North Island Ventures (NIV), Lattice Fund, Wischoff Ventures, Stellar Development Foundation (SDF).

Cedar Money is a payments company that enables seamless cross-border money movement using stablecoins. Cedar Money offers businesses a seamless and compliant payment solution, providing faster, more reliable, and cost-effective cross-border payments between developed and emerging markets.

Mevvy raised $2.8M in a Seed funding round from Multicoin Capital*, Chapter One, Hypersphere, Nascent, Borderless Capital, Relayer Capital, Modular Capital, Equilibrium co, GSR Markets LTD, Selini Capital, Enigma Validator, Joshua Lim, Georgios Vlachos, Leptokurtic, Cygaar, Steve Kokinos, JPEG Trading.

Mevvy is an MEV (Maximum Extractable Value) execution platform designed to simplify blockchain transaction sequencing and execution for traders. It offers an integrated development environment (IDE) with pre-loaded open-source strategies, enabling traders to focus on optimizing techniques such as arbitrage, back-running, and liquidation without the need to manage complex infrastructure.

Pod Network raised $10M in a Seed funding round from a16z Crypto Startup Accelerator (CSX)*, 1kx*, Blockchain Builders Fund (BBF), Stanford Blockchain Accelerator (SBA), Protagonist, Flashbots, Georgios Vlachos, Nick White, Sergey Gorbunov, Waikit Lau, Mounir Benchemled.

Pod is a consensusless Layer 1 blockchain designed to eliminate traditional inefficiencies in transaction validation. Pod streams transactions directly to validators for attestation and timestamping, achieving speeds as fast as 200 milliseconds. Built with the EVMx framework, it is Solidity-compatible, enabling developers to easily create decentralized applications in gaming, social networks, stablecoin payments, and AI agents. Pod is a spin-out of Common Prefix, a blockchain consulting firm with experience in projects like Celestia and Axelar.

Based raised $420K in a Pre-seed funding round from dlab*, Manifold.

Based is the first permissionless Opinion Markets platform, enabling users to trade on public sentiment like a perpetual prediction market. Built on Solana, it turns trends, memes, and viral moments into tradable assets, allowing users to speculate and profit from shifts in cultural relevance. Based gamifies content engagement, rewarding those who can predict emerging trends before the crowd.

Other investment rounds

VitalVEDA raised $20M in a  funding round from Rollman Management Digital.

VitalVEDA is a Web3 fitness platform that integrates artificial intelligence (AI) and blockchain technology to provide personalized workout experiences. The platform offers AI-assisted workouts with real-time feedback, an AI-powered body scanning feature for posture and body composition analysis, and a virtual functional gym where users can participate in group workouts and challenges. Users can earn VVFIT tokens by completing workouts, achieving milestones, and engaging with the community.

Spindl raised undisclosed amount in a M&A  funding round from Coinbase.

Spindl is a Web3 growth platform offering comprehensive solutions for on-chain attribution, analytics, audience segmentation, and advertising. It enables developers to understand user acquisition sources and behaviors within decentralized applications, providing customizable dashboards and reporting tools. Spindl’s referral system allows projects to reward key opinion leaders, community members, and publishers who contribute to user growth.

SyFu raised undisclosed amount in a  funding round from Castrum Capital.

SyFu is a DePIN-powered Web3 wallet that gamifies payment data, transforming it into digital assets. It features MANEKINEKO NFTs, evolving based on user spending behavior, and integrates DIDs & SBTs to redefine consumer credit. SyFu also offers secure crypto payments, NFT trading, and DeFi access through its non-custodial wallet with ERC-4337 & MPC technology.

Elastos raised $20M in a  funding round from Rollman Management Digital.

Elastos is a decentralized SmartWeb platform that enables users to truly own and monetize digital assets. By integrating blockchain, decentralized identity (DID), and peer-to-peer networking, it ensures secure data ownership. Elastos combines Auxiliary Proof of Work (AuxPoW) and Bonded Proof of Stake (BPoS) for enhanced security, leveraging Bitcoin’s hash power. The platform supports dApps and a token-based economy, redefining digital property rights.

Irreducible (ex Ulvetanna) raised $24M in a Series A  funding round from Paradigm*, Bain Capital Crypto*, Fenbushi Capital, L2 Iterative Ventures (L2IV), Robot Ventures, Brendan Farmer, Daniel Lubarov, Sina Habibian.

Irreducible accelerates zero-knowledge proof generation by operating FPGA clusters tailored for cryptographic computations, supporting blockchain protocols. Their services include a proving platform compatible with systems like Plonky2 and Polygon zkEVM, and they are developing Binius, a high-performance binary proof system optimized for custom hardware.

QED Builders raised undisclosed amount in a M&A  funding round from The Sandbox.

QED is a software development company specializing in scalable solutions across various domains, including blockchain, product development, team augmentation, and design systems. Their expertise encompasses end-to-end Web3 applications, NFT minting, smart contract development, and scalable infrastructure.

D3 Global raised $25M in a  funding round from Paradigm*, Coinbase Ventures.

D3 Global asserts its ownership of "patent-pending technology" that promises to enhance interoperability for both web2 and web3 iterations of the internet, concurrently boosting utility and security. D3 intends to apply for and acquire new Top Level Domains during ICANN's upcoming application period, with the objective of providing inherently secure identities supported across all web browsers and devices.

Bluwhale raised undisclosed amount in a Series A  funding round from Cointelegraph Acceleration, Swissborg Ventures, CoinBureau, Altcoin Daily, Master Ventures, DWF Labs, NxGen, Baboon VC, Cryptonite Capital, Hub71, NewTribe Capital, Vitality Ventures, Citizen Capital, Castrum Capital, Elevate Ventures, AlphaCrypto Capital, Kahuna, Moon Capital, London Real Ventures, Arbitrum Foundation, Movement Labs.

Bluwhale is a decentralized AI personalization protocol for blockchains, revolutionizing digital communication by empowering wallet holders with control over their digital profiles and the ability to monetize their information. Through AI and contextual data, Bluwhale creates detailed wallet personas, allowing companies to target potential audiences more precisely, enhance user engagement, and bring transparency to the industry while rewarding users for their participation.

Cryptio raised $15M in a Series A  funding round from Alven*, 1kx, Cathay Ledger Fund, BitGo, Point Nine Capital, BlueYard Capital, Tim Draper.

Cryptio is an institutional-grade crypto accounting platform.

Canopy raised $1.2M in a  funding round from Mechanism Capital*, CitizenX Crypto Ventures*, Primitive, Side Door Ventures, GSR Markets LTD.

Canopy is a DeFi yield optimization platform on Movement, enhancing returns through automated liquidity deployment and reward stacking. It simplifies DeFi strategy management with an all-in-one dashboard.

Analog raised $5M in a  funding round from Foresight Ventures, Gate Ventures, BackerDAO, Black Label, Sam Kazemian.

Analog is a sovereign blockchain built on Delegated Proof-of-Stake (DPoS) consensus algorithm, with the Timechain as its core—a robust and immutable ledger that enables seamless dApp communication and data exchange in a decentralized manner. Analog's approach and omnichain structure allow it to interact with multiple networks, making it versatile for various cross-chain applications and providing fast, accurate, and provable data for DApps development in the Web3 ecosystem.

Sign (EthSign) raised $16M in a  funding round from YZi Labs (Binance Labs).

Sign is an on-chain infrastructure for token distribution and credential verification, ensuring transparency and security. Its TokenTable platform has facilitated $4B+ in token airdrops for 40M users and 200+ projects like Starknet and ZetaChain. Sign Protocol connects real-world credentials to blockchain addresses, enabling government and enterprise adoption.

Clipper raised undisclosed amount in a M&A  funding round from Sushi Labs.

Clipper is the decentralized exchange (DEX) built to give the self-made crypto trader the best possible prices on small trades (< $10k).

McQueen Labs Inc. (MCQ Markets) raised $1.2M in a  funding round from SOL Global Investments Corp..

MCQ Markets is a platform that democratizes investment in iconic automobiles by offering fractional ownership opportunities. Through SEC-qualified offerings, investors can purchase shares in luxury vehicles, such as Ferraris and Lamborghinis, without the traditional burdens of full ownership. Each vehicle is linked to a unique NFT on the Solana blockchain, securely storing vital information like VIN, mileage, and acquisition date, ensuring data authenticity and transparency.

Maalexi raised $3M in a  funding round from Citi.

Maalexi is a cross-border marketplace simplifying food and agribusiness trade with digital contracts, payments, and logistics. It empowers small agribusinesses, enhancing efficiency and security in global supply chains.

Shipyard Software raised undisclosed amount in a M&A  funding round from Sushi Labs.

Shipyard Software specializes in creating decentralized exchanges (DEXs) tailored to specific trading needs within the cryptocurrency market. Their notable projects include Clipper, a DEX optimized for smaller trades, and Longship, which focuses on decentralized perpetual contracts. Additionally, they offer tools like a coded OFAC sanctions list to help DeFi protocols comply with regulations.

Spheron Network raised undisclosed amount in a  funding round from Arcanum Ventures.

Spheron Network is a decentralized compute platform connecting developers and businesses with independent GPU providers for on-demand processing power. It offers instant access to scalable GPU resources without the need for managing complex infrastructure, facilitating efficient deployment and scaling of applications.

Humanity Protocol raised $20M in a  funding round from Pantera Capital*, Jump Crypto*.

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.

World Liberty Financial raised $10M in a  funding round from Web3Port Labs.

World Liberty Financial is a decentralized platform enabling users to earn and borrow cryptocurrency seamlessly. It combines DeFi lending protocols with rewards, allowing users to maximize asset utility while earning competitive yields. The platform focuses on accessibility and financial empowerment within the Web3 ecosystem.

Pell Network raised $3.5M in a Strategic  funding round from D11-Labs, Web3Port Labs, ArkStream Capital, Taisu Ventures, Core Ventures, GoPlus Security, Astrarizon Ventures, MultiversX.

Pell Network is a decentralized platform offering validated services specifically for the Bitcoin ecosystem. It focuses on enhancing the security, efficiency, and scalability of Bitcoin by providing decentralized infrastructure and services. The network integrates Bitcoin’s strengths with decentralized technologies, enabling new use cases and improved performance across various applications.

Pixion Games (Fableborne) raised $12.4M in a  funding round from Delphi Digital*, Sky Mavis, L1D (L1 Digital), The Spartan Group, Animoca Brands, Yield Guild Games (YGG), Arete Capital.

Pixion Games is a Web3 gaming studio that focuses on developing action-based role-playing games, such as Fableborne, with a competitive multiplayer element and player-owned economies. Their mission is to create accessible games with short gameplay sessions and introduce a Play-to-Own model through blockchain technology.

* fund, that lead investment round