Crypto Fundraising weekly
Dates: 30 Jun – 06 Jul 2024

This week's biggest funding round

IREN (ex Iris Energy) raised $413M in a funding round from .

Iris Energy (IREN) is a leading next-generation data center business that powers Bitcoin mining, AI, and other operations using 100% renewable energy. Headquartered in Australia, Iris Energy aims to scale its hash rate capacity to 30 EH/s and data center capacity to 510 MW by 2025, with plans for further expansion and power monetization activities.

Pre-seed and Seed investment rounds

Monad Pad raised $0.9M in a Seed funding round from Cogitent Ventures, Coin Merge Strategy (CMS), CSP DAO, Zephyrus Capital, Sneaky Ventures, Legion Ventures, FOMO Ventures.

Monad Pad is the first token and NFT launchpad built on the Monad network, empowering creators, investors, and collectors. It offers a platform for launching and participating in presales of vetted DeFi projects. Monad Pad features a suite of tools, including token lockers, LP lockers, and a presale buy bot. The platform rewards users through LP staking, NFT staking, and a revenue share model. It aims to build an inclusive and transparent ecosystem, providing a robust and scalable infrastructure for digital assets and DeFi applications.

QED Protocol raised $6M in a Seed funding round from Blockchain Capital.

QED Protocol is Bitcoin's native execution layer, providing a horizontally scalable, secure, and user-friendly platform for Web3 development. As the first zk-Native blockchain, QED ensures horizontal scalability, Web2 developer friendliness, and zk-Native speed, solving the scalability challenge with innovative zk-PARTH state model. This allows millions of transactions per second, empowering decentralized applications on Bitcoin with local transaction proofs and unlimited computation for a fixed gas fee, revolutionizing blockchain applications for enhanced user experiences.

Onaji raised $2.5M in a Pre-seed funding round from Stratos Technologies*, Maven 11 Capital, Inception Capital (ex OP Crypto), Uniswap Labs Ventures, Hypersphere, IOSG Ventures, Punk DAO.

Onaji is a Machine Learning Platform for smart contract blockchains, designed to build and operate intelligent algorithms that interact with blockchain applications. It provides comprehensive features such as model training, real-time and historical data analysis, on-chain action execution, back-testing, and simulation. Onaji supports Ethereum applications by enabling machine learning models to execute decisions on-chain for decentralized exchanges, lending protocols, NFT marketplaces, and other DeFi applications, enhancing market intelligence and trading strategies.

Compute Labs raised $3M in a Pre-seed funding round from Protocol Labs*, MH Ventures, Hashkey Capital, ArkStream Capital, OKX Ventures (ex OKEx Blockdream Ventures), Symbolic Capital (ex Hyperedge Capital), Coin Merge Strategy (CMS), P2 Ventures (Polygon Ventures), Blockchain Coinvestors, Amber Group, Ambush Capital, Cogitent Ventures, Builder Capital, Optic Capital, Oak Grove Ventures, Mozaik Capital, Sandeep Nailwal, Illia Polosukhin, Austin Federa.

Compute Labs is a Compute Tokenization Protocol that financializes AI by enabling direct exposure to compute assets and creating compute derivatives. This protocol empowers investors to effortlessly yield from compute, the currency of the future, leveraging its innovative approach to integrate financial markets with AI-driven compute resources.

Sun Protocol raised undisclosed amount in a Seed funding round from Digital Finance Group (DFG), Moore Foundation.

Sun Protocol integrates multi-chain transactions, cross-chain capabilities, staking, Lightning Network, and other liquidity-related functionalities, offering users a more convenient, secure, and comprehensive trading ecosystem for global assets. Its main products include Swap, NFT, Pledge, Lending, Cross-chain, Inscription, Lightning Network, and ID.

Nycrypto Labs (Tidus wallet) raised $800K in a Pre-seed funding round from DNA Fund*, Transform Ventures.

NYCrypto, founded in late 2020, aims to simplify access to the decentralized world by providing reliable, unbiased technology for blockchains, cryptocurrencies, DeFi, and the Metaverse. Through a range of products, services, and educational content, NYCrypto helps users mitigate risks and navigate the crypto ecosystem with confidence. Their flagship product, Tidus Wallet, offers a user-friendly interface for storing, sending, swapping, and staking assets across multiple blockchains, complete with educational features and top-tier security.

Plaza Finance raised undisclosed amount in a Pre-seed funding round from Anagram*, Interop Ventures, Cosmostation, Skip Protocol.

Plaza Finance is a cross-ecosystem hub for programmable derivatives, enabling the creation and trading of tokenized financial products on the blockchain. These derivatives are fully asset-backed and offer enhanced liquidity and composability compared to synthetic contracts. Plaza Finance supports various assets like ETH, BTC, and tokenized commodities, allowing users to create and redeem structured financial products such as bonds and leveraged positions. The platform aims to revolutionize decentralized finance by providing innovative, flexible, and liquid financial instruments without increasing network complexity.

Sentient raised $85M in a Seed funding round from Founders fund*, Pantera Capital*, Framework Ventures*, Ethereal Ventures, Robot Ventures, Symbolic Capital (ex Hyperedge Capital), Delphi Ventures, Hack VC, Arrington Capital, Hashkey Capital, Foresight Ventures, MH Ventures, Canonical Crypto, Primitive, Nomad Capital, Hypersphere, IDG Capital, Casey K. Caruso, Protagonist, Folius Ventures, Sky9 Capital, Mirana Ventures, The Spartan Group, Dispersion Capital.

Sentient is an AI research organization fostering an Open AGI Economy for AI builders and creators. It develops platforms and protocols enabling open-source AI developers to monetize their innovations, collaborate on powerful AI projects, and become significant stakeholders in a decentralized AI ecosystem. Sentient addresses the limitations of closed-source AI by promoting open, monetizable, and community-aligned AI models through blockchain protocols and incentive mechanisms.

OpenLedger raised $8M in a Seed funding round from Polychain Capital*, Borderless Capital*, Finality Capital, Hash3, Hashkey Capital, TRGC, Stix, Mask Network, MH Ventures, WAGMI Ventures, Balaji Srinivasan, Sandeep Nailwal, Sebastien Borget, Aniket Jindal, Scott Moore, Paul Taylor, Trevor Koverko.

OpenLedger builds permissionless and data-focused infrastructure for artificial intelligence development. The firm aims to enhance AI model performance by decentralizing data pipelines, and plans to launch its infrastructure on the mainnet in the next quarter. OpenLedger seeks to fill a crucial gap in AI development by emphasizing the importance of data and decentralization.

Prodia raised $15M in a Seed funding round from Dragonfly Capital*, Hashkey Capital, Web3com Ventures, Index Ventures, Symbolic Capital (ex Hyperedge Capital), OKX Ventures (ex OKEx Blockdream Ventures), Escape Velocity, Artichoke Capital, TRGC, Folius Ventures, Tangent Ventures, Balaji Srinivasan, Sandeep Nailwal, Southern Equity.

Prodia offers a fast and easy-to-use API for image generation, leveraging a distributed network of GPUs to provide efficient cloud computing services. By utilizing web3 infrastructure, Prodia aims to lower costs and eliminate the need for users to manage their own GPU infrastructure. The firm plans to expand its services to include support for generative video and large language models.

Lombard raised $16M in a Seed funding round from Polychain Capital*, Babylon, dao5 (daofive), Franklin Templeton, Foresight Ventures, Mirana Ventures, Mantle Network, Nomad Capital, OKX Ventures (ex OKEx Blockdream Ventures), Robot Ventures.

Lombard is dedicated to unlocking Bitcoin's potential by integrating it into DeFi, building a universal standard for cross-chain, yield-bearing BTC without fragmenting liquidity. Their flagship product, LBTC, is a liquid Bitcoin backed 1:1 by BTC, allowing users to hold Bitcoin as a store of value while earning, staking, trading, and engaging with DeFi. Currently in Phase 1 on the Ethereum mainnet, Lombard aims to expand access and grow the Bitcoin restaking ecosystem.

Pi Squared raised $12.5M in a Seed funding round from Polychain Capital*, ABCDE Capital, Bloccelerate, Generative Ventures, Robot Ventures, Samsung Next.

Pi Squared (Proof of Proof) enables trustless remote computing, AI, and interoperable smart contracts for any blockchain or dApp using zero-knowledge (ZK) technology. It creates a Universal Settlement Layer (USL) that simplifies interoperability across blockchains, languages, and applications without needing traditional language implementations. Pi Squared leverages advancements in ZK technology, formal semantics, and logic reasoning techniques.

SendBlocks raised $8.2M in a Seed funding round from Castle Island Ventures*, Pitango, Illuminate Financial, Laser Digital, Starkware.

SendBlocks is a blockchain data management startup that simplifies access to blockchain data through a fully customizable platform. It allows enterprises, ecosystems, and applications to define and access the data they need without requiring extensive in-house data teams or expensive outsourced solutions. SendBlocks enables users to write and deploy functions that respond to specific blockchain occurrences, automating data triggers and outputs directly into backends via webhooks.

Cambria raised $2.5M in a Seed funding round from BITKRAFT Ventures*, 1kx*, Hype.eth, Tom Shaughnessy, Bharat Krymo.

Cambria is a blockchain development company that has created Duel Arena, a high-stakes 1v1 dueling game where players can challenge each other to death matches in a public arena. In this Runescape-inspired game, players can wager Arena Tokens or Base ETH on their duels, with the winner taking all.

Ethos Network raised $1.8M in a Pre-seed funding round from Bharat Krymo, dingaling, Zeneca.

Ethos is a credibility platform designed to create a more trusted web3 ecosystem by enabling users to build their reputation, support others, and penalize bad actors. It employs a set of interlocking mechanisms—review, vouch, slash, and attest—to incentivize ethical behavior and generate a credibility score. This score helps users understand who to trust and avoid, aiming to enhance the crypto economy by making credibility a key factor in transactions and interactions.

Mamori raised $5M in a Seed funding round from Blockchain Capital*, Velocity Capital, Web3com Ventures, Daniel Lubarov.

Mamori is a machine learning-enabled platform designed for blockchain value extraction. It addresses challenges in scalability, automation, exploit detection, and efficacy within the Web3 landscape. Mamori applies advanced technologies to detect and protect against zero-day economic exploits, MEV (Miner Extractable Value) searching, and intent solving. The platform leverages algorithmic parsing to establish smart contract sequences and utilizes stateful computation techniques to ensure robust and customizable algorithmic feedback mechanisms.

Other investment rounds

Swords & Dungeons raised $5M in a  funding round from Mirana Ventures, Qiming Venture Partners, OKX Ventures (ex OKEx Blockdream Ventures), Y2Z Ventures, Matrix Partners, Folius Ventures, Mask Network, SNZ Holding, ArkStream Capital, Sky9 Capital, Primal Capital, Bas1s Ventures, Polemos, Welight Capital.

Swords & Dungeons is a P2E DeFi MMORPG that merges traditional gaming systems like PvE, PvP, and GvG with Web 3.0 P2E modes and advanced DAO governance concepts. Players become heroes in a perilous Metaverse, tasked with defeating evil creatures, growing stronger, and mastering Void Powers, ultimately collaborating with others to restore peace to the fractured world of the Void.

FreeBnk raised $3M in a  funding round from FounderHeads VC, LVT Capital, Lavender Capital, ChaiTech Ventures.

FreeBnk is a comprehensive financial platform that integrates cryptocurrency services with traditional banking functions. Users can buy, sell, and swap over 1200 cryptocurrencies using cash, card, or bank transfer in over 150 countries. The platform offers additional services including low-fee international fiat transfers, investment opportunities in real-world assets like property and gold, competitive lending and mortgage rates, and secure, insured storage for digital assets. FreeBnk aims to provide a seamless and secure banking experience, bridging the gap between traditional finance and the crypto world.

Wallet Guard raised undisclosed amount in a M&A  funding round from ConsenSys.

Wallet Guard is an open-source browser extension featuring transaction simulation and proactive phishing detection.

Pac Finance raised $1M in a  funding round from Manifold*, Mapleblock Capital*, Polychain Capital.

Pac Finance is a lending and margin trading protocol on Blast L2, featuring self-paying mechanisms, one-click leverage, and gas fee refunds. With hybrid lending models, native yield opportunities, and innovative developer points sharing, Pac Finance enhances user experience and maximizes earning potential in the Layer 2 blockchain landscape. Additionally, Pac Finance prioritizes security, offering secure storage of funds through smart contracts that have undergone formal verification and rigorous auditing, ensuring the safety of user assets.

RedStone raised $15M in a Series A  funding round from Arrington Capital*, SevenX Ventures, IOSG Ventures, The Spartan Group, White Star Capital, Protagonist, gumi Cryptos Capital (gCC), Samara Asset Group, HTX Ventures (ex Huobi Ventures), Amber Group, Kenetic, Selini Capital, Fourth Revolution Capital (4RC), Chorus One, Cluster Capital, Flowdesk, Relayer Capital, Nonce Classic, Thanefield Capital, Triton Liquid Fund, Revelo Intel, Christian Angermayer, Smokey The Bera, DeFiDad, Nomatic.

RedStone is a next-generation cross-chain data oracle providing pricing data for financial protocols.

Nubila Network raised $2.5M in a  funding round from IoTeX*, VeChain*, The Boston Consulting Group*, Orange DAO, MH Ventures, FutureMoney Group, SNZ Holding, Kronos Research, Taisu Ventures, ByteTrade Lab, Waterdrip Capital, Assembly Partners, CyberConnect, Genopets.

Nubila is a global environmental data network leveraging DePIN (Decentralized Physical Infrastructure Networks) and AI to enhance ESG (Environmental, Social, and Governance) data collection and analysis. The platform enables users to collect and share ESG data through easily installable stations, earning $NUBI tokens as rewards. Nubila’s AI-powered system ensures seamless integration and real-time insights, providing accurate and actionable ESG information for individuals and institutions. This collaborative ecosystem democratizes access to critical ESG data, promoting proactive and informed decision-making.

Astria raised $12.5M in a Strategic  funding round from DBA*, Placeholder*, RockawayX, Maven 11 Capital, 1kx, Figment Capital, Bankless Ventures, Hasu, Will Price, Jason Yanowitz.

Astria is a modular blockchain that allows individuals to deploy their own censorship-resistant rollup without relying on a centralized sequencer. Astria is also developing its Astria EVM, powered by the shared sequencer network and which it plans to serve as the flagship Ethereum Virtual Machine (EVM) for modular blockchain Celestia's data availability layer.

VAULT raised undisclosed amount in a M&A  funding round from DRiP.

Vault is a Web3 a music platform that uses NFT technology for collecting exclusive, limited-run digital music collectibles to enable artists to offer extra content and experiences for a fee.

Solayer raised undisclosed amount in a  funding round from Sandeep Nailwal, DCF God, Justin Bram, Anatoly Yakovenko, Nom, Joe Lallouz, Xinshu Dong, WSB Mod, 0xRooter, Joseph Delong.

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.

Amber Japan (ex DeCurret) raised undisclosed amount in a M&A  funding round from Sony Corporation.

Amber Japan, formerly known as DeCurret, is a crypto exchange acquired by Sony from Amber Group in 2023 and rebranded to S.BLOX. The exchange, which was initially bought by Amber Group in 2022, is set to relaunch with a new app under Sony's ownership, marking Sony's significant entry into the crypto market. This move aligns with Sony's broader strategy of expanding into Web3 technologies through various investments and partnerships.

Carv raised $35M in a Public sale  funding round from .

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.

* fund, that lead investment round