Crypto Fundraising weekly
Dates: 28 Jul – 03 Aug 2024

This week's biggest funding round

Morpho raised $50M in a Strategic funding round from Ribbit Capital*, Andreessen Horowitz (a16z crypto), Coinbase Ventures, Variant Fund, Pantera Capital, Brevan Howard Digital, BlockTower Capital, Kraken Ventures, Hack VC, IOSG Ventures, RockawayX, L1 Digital, Mirana Ventures, Cherry Ventures, Semantic Ventures, Fenbushi Capital, LeadBlock Partners, Robot Ventures.

Morpho is a DeFi lending protocol built on top of existing protocols that moves loans from liquidity pools into a peer-to-peer mechanism to offer higher yields for investors.

Pre-seed and Seed investment rounds

Breakout raised $4.5M in a Seed funding round from RockawayX*, Mechanism Capital, IOBC Capital, C² Ventures, Round13 Capital.

Breakout is a crypto-native proprietary trading firm that provides access to the best centralized exchange liquidity for trading over 100 crypto assets. The platform features advanced trading tools, tight spreads, and a custom-built web and mobile app for seamless trade execution. Breakout emphasizes uncompromising execution and radical transparency, offering clear and fair rules with data on evaluation success rates and payouts. Traders can participate in evaluations to trade funded accounts and keep up to 90% of the gains, making it an ideal environment for both novice and experienced traders.

Icebreaker raised $5M in a Seed funding round from CoinFund*, Accomplice Blockchain, Anagram, Legion Ventures.

Icebreaker is a Web3-native messaging platform designed to enhance communication within decentralized communities. The platform integrates seamlessly with blockchain technologies, providing secure, private, and efficient messaging services for users. Icebreaker offers features such as end-to-end encryption, decentralized identity verification, and cross-chain compatibility, ensuring that conversations remain secure and verifiable. By focusing on the unique needs of Web3 environments, Icebreaker aims to facilitate more effective collaboration and engagement within decentralized ecosystems, promoting a more connected and interactive Web3 experience.

We.Rich raised $2M in a Seed funding round from Animoca Brands*, Folius Ventures*, Leland Ventures.

UGA (User Generated Asset) platform. Anyone to be a founder and makes anything tradable with a 0-cost, 0-iq asset creation experience and an AI-powered personalized asset recommendation engine on Base.

Hyperbolic raised $7M in a Seed funding round from Polychain Capital*, Lightspeed Faction*, Chapter One, LongHash Ventures, Bankless Ventures, Nomad Capital, Coinsummer Labs, Third Earth, Republic, Black Dragon, Balaji Srinivasan, Illia Polosukhin, Sandeep Nailwal, Casey K. Caruso, Tekin Salimi, Santiago R. Santos.

Hyperbolic is an AI cloud platform that unites global compute resources to provide accessible, affordable, and scalable GPU resources and AI services. It offers high-throughput and low-latency AI inference services, scalable GPU access with pay-as-you-go plans, and monetization options for idle GPUs. Hyperbolic supports a wide range of GPUs and ensures high availability, scalability, security, and equitable compensation for contributions. Designed for researchers, companies, data centers, and individuals, Hyperbolic aims to democratize AI by making compute resources more accessible and affordable.

Raad Labs raised $2.3M in a Seed funding round from CoinFund*, Tribe Capital, Escape Velocity, Protagonist.

Raad Labs is deploying a distributed network of meteorological sensors to provide hyper-localized ground truth data. This data empowers governments, energy traders, utilities, and insurers to take proactive measures to protect infrastructure and prevent human suffering. By incentivizing individuals and businesses to purchase and host these devices, Raad Labs ensures a comprehensive and accurate collection of meteorological data. This innovative approach aims to enhance decision-making processes in weather-sensitive sectors, ensuring better preparedness and response to weather-related events.

BlonkFi raised undisclosed amount in a Pre-seed funding round from UOB Venture Management*, Signum Capital*, Manifold, Kyros Ventures, Hypotenuse Labs.

BlonkFi is a core liquidity infrastructure protocol aiming to address the pressing issue of illiquidity for volatile long-tail mid-market capitalization assets such as memecoins, by enabling such assets to be collaterised for liquidity.

Liquorice raised $1.2M in a Pre-seed funding round from Greenfield Capital*, Polymorphic Capital, L2 Iterative Ventures (L2IV), 1inch, HASH CIB (Crypto Investment Bank), Efficient Frontier, Follow[the]Seed, Horadrim.Capital.

Liquorice is a DeFi protocol offering one-sided lending pools integrated with a MEV-free trading engine, tailored to facilitate liquidity in intent-based trading systems. The platform addresses inventory issues in DeFi by providing per-asset lending pools utilized by Private Market Makers (PMMs). Liquorice simplifies access to DeFi for PMMs by integrating with core aggregators like 1inch, Uniswap X, and CoW Swap, ensuring optimal liquidity. The offchain engine selects the best quotes from connected market makers, enabling gasless and efficient transactions.

Agent Exchange raised $1M in a Pre-seed funding round from Caladan, MrBlock, David Choi, domo, Jack Sun, Cygaar, Larry Cermak, WSB Mod.

Agent is an all-in-one platform that empowers Web3 users to create and manage multiple Sub-Accounts seamlessly. By integrating with a wide range of dApps, Agent allows users to earn points and trade their Sub-Accounts even pre-market. The platform leverages the power of ERC-6551 to tokenize and transfer Sub-Accounts, enabling the trading of points and locked tokens in a transparent and trustless marketplace. Agent accelerates the adoption of smart contract wallets, offering a user-friendly interface and robust security features to optimize DeFi opportunities.

Other investment rounds

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

The modular L1 powering chain abstraction. The startup aims to solve user and liquidity fragmentation through Universal Accounts. The main products are: Modular Smart Wallet-as-a-Service, Confidential zkStack, Omnichain Account Abstraction & Intent Fusion Protocol.

Pichi Finance raised $2.5M in a  funding round from Signum Capital*, UOB Venture Management*, Mantle Network*, DWF Ventures, Wise3 Ventures, Genesis Block Ventures Capital (GBV), Acquire Fi, Ryze Labs, Contango Digital Assets, Genopets, Notch Ventures, One Block Capital Advisory, DCF God.

Pichi Finance is a decentralized platform focused on optimizing yield farming and liquidity provision across multiple DeFi ecosystems. By leveraging advanced algorithms and automation, Pichi Finance enables users to maximize their returns on staked assets while minimizing risk. The platform offers features such as auto-compounding, multi-chain support, and seamless integration with various DeFi protocols, ensuring a comprehensive and efficient yield farming experience. Pichi Finance aims to simplify and enhance the DeFi experience for both novice and experienced users, providing tools for better asset management and optimized yield generation.

Layer2 Financial raised $10.7M in a Series A  funding round from Galaxy Digital*, Accomplice Blockchain, Sapphire Ventures.

Layer2 Financial is a multi-partner platform offering Payments as a Service (PaaS), enabling businesses to handle compliant payments across multiple currencies. With a single API, Layer2 facilitates collections, payouts, foreign exchange, and more, simplifying the integration process by managing complexities with banks, payment networks, and FX brokers. The platform emphasizes compliance, handling KYC, AML, transaction monitoring, and regulatory requirements, allowing businesses to focus on core operations. Layer2 supports the creation of bespoke payment experiences and ensures robust, scalable payment solutions for various use cases.

JokeRace raised $3M in a  funding round from Maven 11 Capital*, ABCDE Capital, Mask Network, 1kx, RockawayX, Anagram, Social Graph Ventures, Daedalus, THE LAO, John Adler, Dan Romero.

Jokerace is an on-chain competition platform that enables decentralized communities to host and participate in various contests and challenges. Leveraging blockchain technology, Jokerace ensures transparency, security, and fairness in all competitions. The platform is used by prominent names like Polygon, Farcaster, and Bankless, providing a trusted environment for engaging and incentivizing community members. Jokerace’s innovative approach allows users to create, manage, and participate in competitions seamlessly, enhancing community interaction and engagement in the Web3 ecosystem.

Daylight Energy raised $9M in a Series A  funding round from Andreessen Horowitz (a16z crypto)*, Framework Ventures, Lattice Fund, Escape Velocity, Lerer Hippeau.

Daylight is a comprehensive platform designed to modernize home energy systems by offering a marketplace of curated local contractors and craftsmen. The platform provides various energy products, including solar panels, heat pumps, battery storage, and weatherization services. Daylight simplifies the process of upgrading to clean energy through a guided app-based home energy inspection, personalized energy upgrade plans, and full-service installation by certified local professionals. The platform focuses on increasing home value, cutting energy costs, and improving home comfort and health through efficient and sustainable energy solutions.

Rage Trade raised $6M in a Public sale  funding round from .

Rage Trade is a multi-chain perpetual (perp) trading platform that aggregates liquidity from various chains to offer the best prices and trading experience. It features an innovative liquidity pool model, advanced risk management, and cross-margining capabilities, enabling traders to maximize their capital efficiency. The platform integrates with multiple blockchain networks to provide seamless, high-performance trading while ensuring security and transparency.

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

Girin Labs raised undisclosed amount in a  funding round from XRPL Japan and Korea Fund.

Girin Labs focuses on building user-friendly infrastructure and DeFi systems within the XRP Ledger and the Root Network ecosystem. Girin Labs developing the Girin Wallet, an XRPL-focused Web3 wallet supporting social login, and Lotus Protocol, the first lending and liquid staking token (LST) protocol on the Root Network, offering sustainable yield farming for XRP holders. Girin Labs aims to further onboard users and revolutionize the XRP Ledger and Futureverse ecosystems through their innovative solutions.

Mintify raised $3.4M in a  funding round from Arca Fund, Cumberland (DRW), Amber Group, Psalion VC, Master Ventures, Zeneca, Gm Capital, Spencer Ventures, Red Beard Ventures, Alchemy Ventures, G20 Ventures, Bharat Krymo.

Mintify is an NFT multi-chain aggregator, analytics platform and trading terminal to deploy sophisticated NFT investment strategies.

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

Apriori is dedicated to revolutionizing decentralized finance (DeFi) by offering innovative financial products and services. The platform provides users with optimized yield strategies, secure asset management, and seamless integration with various blockchain networks. Apriori aims to democratize access to sophisticated financial tools, enabling users to maximize their returns while minimizing risk. By leveraging cutting-edge technology and a user-centric approach, Apriori is set to redefine the landscape of DeFi, making it more accessible and efficient for all.

* fund, that lead investment round