Crypto Fundraising weekly
Dates: 26 May – 01 Jun 2024

This week's biggest funding round

Babylon raised $70M in a funding round from Paradigm*, Polychain Capital, Bullish, Hashkey Capital, Hack VC, Galaxy Digital, IOSG Ventures, Breyer Capital, Amber Group, Mantle Network, HTX Ventures (ex Huobi Ventures), ViaBTC Capital, LD Capital, ImToken Ventures, P2P Validator, Allnodes, Everstake, InfStones, Luganodes, Stakin, RockX, Stakewithus, 01node, Bware Labs, Nodes Guru, Ryan Fang, Smokey The Bera, Ajit Tripathi, Waikit Lau, domo.

Babylon is a Bitcoin staking infrastructure project pioneering a Bitcoin staking protocol to enhance the security of Proof of Stake (PoS) networks and decentralized applications (DApps). This innovative protocol enables Bitcoin holders to stake their assets, earning rewards and reinforcing the security of PoS chains and DApps.

Pre-seed and Seed investment rounds

Mint Blockchain raised $5M in a Seed funding round from Jsquare, SNZ Holding, Antalpha Ventures, Mask Network, Predator Capital, GoPlus Security, Whitelist Ventures, Panony, NFTScan, Smart Token Labs.

Mint Blockchain is a Layer 2 blockchain built on the OP Stack, focusing on the NFT ecosystem. It emphasizes innovation in NFT standards and application scenarios, aiming to expand and enhance the development and usage of NFT assets. With lower gas fees, plentiful NFT standards, and robust infrastructure, Mint Blockchain seeks to uncover the potential of the trillion-dollar NFT market.

Plural raised $2.3M in a Pre-seed funding round from Compound*, Necessary Ventures*, Volt Capital, Maven 11 Capital.

Plural connects solar and wind developers with investors via blockchain, enabling investments in renewable energy projects for as little as $10. Utilizing blockchain-enabled smart contracts, Plural provides constant yield and liquidity, making renewable energy investments accessible to everyone.

NexGami (ex Light eSports, MetaVirus Games) raised $2.5M in a Seed funding round from Metalpha*, KuCoin Ventures, HTX Ventures (ex Huobi Ventures), Gate Labs, Ledger Capital, Tide Groups, OIG Capital (Oracles Investment Group), XTcom, LBank, Kekkai, IBC Group.

NexGami is a Web3 eSports platform, aiming to bridge the gap between traditional gaming and blockchain-based gamefi by offering seamless integration solutions and enhancing the gaming experience for users.

XMAQUINA raised undisclosed amount in a Pre-seed funding round from Moonrock Capital, EoT Ventures.

XMAQUINA is a DePIN platform for tokenized autonomous robots, allowing people to share in the revenues from smart machines. It enables businesses to tokenize real-world assets, turning intelligent machines into public investment opportunities to scale robotics ventures. This approach enhances liquidity, stakeholder engagement, and market leadership while ensuring transparency through on-chain mechanisms.

PlayAI raised $4.3M in a Seed funding round from P2 Ventures (Polygon Ventures), Jump Crypto, Alpha Wave Global, Zentry, Tykhe Block Ventures, MH Ventures, Jeffrey Zirlin, Sandeep Nailwal, Gabby Dizon.

PlayAI is a web3 platform that rewards gamers for sharing their gaming data, which is used to train AI models. It provides developers with high-quality data and infrastructure to deploy AI agents and models, leveraging blockchain for secure and transparent access to diverse datasets. Additionally, PlayAI incentivizes users with exclusive rewards for contributing their gameplay data.

STXN (Smart Transactions) raised $5.5M in a Seed funding round from Hack VC, Backed, Shima Capital, Signum Capital, AntAlpha, Breed VC, Chorus One, Tane, Gate Labs.

STXN, or Smart Transactions, is a decentralized transaction creation and execution framework run by solvers, allowing users to set specific conditions for transaction timing and execution. Built on smart contracts, it features MEV resistance, context awareness, and dynamic execution, enabling transactions to be processed based on precise conditions and timing. This framework supports secure, conditional, and customizable transactions for various blockchain applications.

OpenSocial raised $5M in a Seed funding round from Portal Ventures*, SNZ Holding*, Animoca Brands, Awesome People Ventures, Arche Fund (Coin98 Ventures), Decima, Moonrock Capital, OKX Ventures (ex OKEx Blockdream Ventures), Orange DAO, Panony, Summer Ventures, Roham Gharegozlou, Jason Yanowitz, Smokey The Bera, Mike Dudas, Don Ho.

OpenSocial is a multichain SocialFi infrastructure offering scalable and composable protocols for Web3 users, creators, and developers. It integrates social functionalities as an enabling layer across various use cases, promoting emotional and financial engagement. Developed by Everest Ventures Group, OpenSocial supports modular, codeless deployment on multiple virtual machines, enhancing the multi-chain social economy with flagship dApps and a robust developer community.

Anzen raised $4M in a Seed funding round from Mechanism Capital, Circle Ventures, FRAX Finance, Arca Fund, Infinity Ventures Crypto (IVC), Cherubic Ventures, Palm Drive Capital, M31 Capital, Kraynos Capital.

Anzen is a decentralized platform offering access to USDz, a digital token backed by a diversified portfolio of private credit assets, ensuring stability even during cryptocurrency market volatility. Through rigorous underwriting and KYC-compliant investors, Anzen secures cash-flowing assets, allowing USDz holders to earn sustainable rewards by staking their tokens to obtain sUSDz. This platform provides a stable, real-world asset-backed yield, unaffected by cryptocurrency market fluctuations, aiming to achieve significant total value locked (TVL) with a robust, on-chain, scalable financial system.

Parasail (ex Repl) raised $4M in a Seed funding round from Protocol Labs*, D11-Labs, MH Ventures, Bitrise Capital, Escape Velocity, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto Asset Investment Fund, Waterdrip Capital.

Parasail is an incentive interface designed to streamline Decentralized Physical Infrastructure Networks (DePIN) experiences by aggregating capital, hardware resources, and users. By fostering synergies among various DePIN networks, Parasail aims to unify the fragmented DePIN landscape and enhance user experiences. Its unique benefits include a strong service guarantee layer, simplified go-to-market processes for DePIN projects, and robust rewards for user participation through staking and delegation.

GaiaNet raised $10M in a Seed funding round from ByteTrade Lab, Mirana Ventures, Mantle Network, EVM Capital, Brian Johnson.

GaiaNet is a decentralized computing infrastructure enabling individuals and businesses to create, deploy, scale, and monetize AI agents that reflect their unique styles and expertise. Each GaiaNet node offers a web-based chatbot UI and an OpenAI-compatible API, allowing seamless integration with existing AI applications. GaiaNet domains load balance across nodes, ensuring stable and customized AI services tailored to specific domains and user needs.

Coinflow raised $2.3M in a Seed funding round from CMT Digital*, Reciprocal Ventures, Jump Crypto, Digital Currency Group (DCG), Draper Dragon, Blocktech Ventures, Roneil Rumburg.

Coinflow is a payment infrastructure provider that enables web3 companies to accept traditional payment methods and payout their customers in USD directly to their bank accounts. It helps non-crypto native customers onboard more easily with familiar payment flows while Coinflow manages the back-end infrastructure, primarily serving games, NFT projects, wallets, and other web3 products.

El Dorado raised $3M in a Seed funding round from Coinbase Ventures*, Multicoin Capital*.

El Dorado is a peer-to-peer cryptocurrency wallet enabling cross-border payments and income generation through stablecoin exchanges. It operates in Colombia, Venezuela, Argentina, Peru, Brazil, and Panama, facilitating stablecoin transactions.

NodeOps raised $5M in a Seed funding round from L1 Digital*, Blockchain Founders Fund, Finality Capital, Oak Grove Ventures, Double Peak Group, Skyland Ventures, Momentum 6 (M6), Bitscale Capital, Jaynti Kanani, Richard Ma.

NodeOps provides comprehensive node deployment solutions for node infrastructures and associated communities. As one of the first Actively Validated Services (AVS), it has developed an on-chain, permissionless incentivization system, creating a value capture engine for operators, developers, and protocols within the ecosystem.

Other investment rounds

E Money Network raised $3.3M in a  funding round from Animoca Brands, Kelsier Ventures, Genesis Block Ventures Capital (GBV), Momentum 6 (M6), Blockchain Founders Fund, Morningstar Ventures, KuCoin Labs, Black Edge Capital, Banter Capital.

E Money Network is a fully-regulated blockchain pioneering DeFi 2.0 by integrating tokenized Real World Assets (RWA) with the DeFi ecosystem. It provides a compliant and resilient infrastructure for both individuals and institutions, ensuring secure asset transactions, enhanced transparency, and systemic risk mitigation. The network adheres to global regulations, including MiCA, and emphasizes compliance, privacy, and robust on-chain identity verification.

Carv raised undisclosed amount in a  funding round from Animoca Brands.

Carv is a Web3 identity startup that is developing a wed3 ID solution that combines web2 and web3 gaming data to create unique user IDs.

TRALA raised $5M in a  funding round from Matter Labs, Animoca Brands, Gate Labs.

TRALA is a GameFi platform on zkSync, offering a comprehensive Web3 gaming experience. It features over 10 popular games and serves 400 million users worldwide through extensive global marketing channels.

Marketnode raised undisclosed amount in a Series A  funding round from HSBC*, Temasek*.

Marketnode is a developer and operator of Financial Market Infrastructure (FMI) designed to manage data, transactions, and lifecycle processes for digital assets. Utilizing Distributed Ledger Technology (DLT), Marketnode aims to revolutionize the issuance, transaction, and servicing of financial assets such as credit, funds, and structured products. The platform, particularly its Gateway service, provides comprehensive solutions for tokenized asset issuance, settlement, and automated servicing, targeting issuers, financial institutions, and their agents.

ARPA raised $6M in a  funding round from Laser Digital*, DeFiance Capital*, Animoca Ventures, Metrics Ventures, ArkStream Capital, Trinito.

ARPA Network is a blockchain-based solution that uses Multi-Party Computation (MPC) to enable privacy-preserving computation. ARPA threshold BLS signature network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains.

Neynar raised $11M in a Series A  funding round from HAUN Ventures*, Andreessen Horowitz (a16z crypto), a16z Crypto Startup Accelerator (CSX), Coinbase Ventures, Union Square Ventures (USV).

Neynar simplifies building on Farcaster by providing a comprehensive suite of tools, APIs, and SDKs designed to streamline application development. It offers features like Frame Studio for no-code multi-step frame building, Sign In with Neynar for seamless Farcaster account integration, and hosted SQL databases for managing Farcaster data. Neynar is designed to help developers and companies quickly bring their visions to life, reducing the complexity of managing infrastructure and focusing on innovation.

Stable Jack raised $1M in a Angel  funding round from .

Stable Jack is a stablecoin hub on the Avalanche network offering three main products: a yield-bearing stablecoin, a volatile AVAX token, and a stableswap. The yield-bearing stablecoin emphasizes capital efficiency, no liquidation risk, and no exposure to centralized party risks. The volatile AVAX token provides DeFi composability without funding fees or liquidation risk. The stableswap facilitates single-sided liquidity provision with very low slippage for stablecoins, LSTs, and LRTs, ensuring efficient and secure trading.

Zentry raised undisclosed amount in a Strategic  funding round from The Spartan Group, LongHash Ventures, Synergis Capital, DWF Labs, Binance Labs Fund, Coinbase Ventures, Pantera Capital, Hashed, DeFiance Capital, Animoca Brands, Vessel Capital, Play Ventures, Dapper Labs, Arche Fund (Coin98 Ventures), SkyVision Capital, Spirit DAO, Ray Chan, Soby, Loopify, dingaling, Char, Mirza Uddin, Grail eth.

Zentry is a gaming superlayer that merges MMORPG experiences with real-life through a seamless fusion of loyalty systems, gamer identities, and cross-platform activities. It enables gamers to create dynamic avatar profiles that evolve in status, uniqueness, and real wealth across various digital and physical ecosystems. This unified Play Economy integrates countless games and platforms into a single overlay experience.

Beoble raised undisclosed amount in a  funding round from Ripple.

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.

Lumoz (ex Opside) raised undisclosed amount in a Strategic  funding round from IDG Blockchain, Blockchain Coinvestors, Gate Ventures, Summer Ventures, Everest Ventures Group (EVG), 7UpDAO, Sweep Ventures.

Lumoz is a Modular Compute Layer and ZK-RaaS platform that utilizes a PoW mining mechanism to provide ZKP arithmetic for ZK-Rollup. By integrating a hybrid consensus mechanism of PoS and PoW, Lumoz offers a streamlined solution for Web3 developers, enabling the generation of zkEVM application chains with a single click. Its innovative approach simplifies ZK-Rollup usage and promotes wider adoption, while also providing miners with a beneficial environment for participating in zkEVM maintenance and ZKP calculation across multiple public chains.

Switchboard raised $7.5M in a Series A  funding round from Tribe Capital*, RockawayX*, Solana Foundation, Aptos Network, Starkware, Mysten Labs, InfStones, OtterSec, Ascensive Assets, Lemniscap, Bixin Ventures, Breed VC, BlockBuilders, Joe McCann, Danish Chaudhry, 0xRooter.

Switchboard is a permissionless oracle network service bridging decentralized applications with real-world data, offering products like Switchboard On-Demand. This solution provides low-latency, secure, and cost-effective data solutions tailored for web3 applications, ensuring high fidelity financial systems and customizable data ingestion.

defi money raised undisclosed amount in a Strategic  funding round from Morningstar Ventures, DeFiLama com, Genesis Block Ventures Capital (GBV), MrBlock, Michael Egorov, C2tP, Winthorpe, DCF God, Alex Shin, Charlie, Tetranode, Amplice, EllioTrades, ivangbi.

Defi money refers to a stablecoin designed to be agnostic and universally applicable across global financial systems. It prioritizes interoperability and neutrality, aiming to facilitate seamless transactions and economic interactions worldwide.

Chainge raised $13M in a  funding round from GEM Digital Limited, Alpha Token Capital.

Chainge is a cross-chain liquidity aggregator app that facilitates access to decentralized and automated finance. It offers a cross-chain wallet integrating over 24 EVM and non-EVM compatible chains, enabling users to seamlessly swap, send, and receive crypto assets across different networks.

HMX raised undisclosed amount in a Strategic  funding round from 99 Capital, Rise Capital, Finlink Capital.

HMX is a next-generation decentralized perpetual protocol on Arbitrum that supports cross-margin and multi-asset collateral. Users can leverage up to 1,000x on various asset classes, including cryptocurrency, forex, and commodities, while market makers earn yields from both HMX and GMX. With features like low fees, advanced order types, and robust security measures, HMX enhances trading efficiency and user experience in the DeFi space.

* fund, that lead investment round