Dates: 06 May 2024 – 12 May 2024. This week’s notable funding rounds according to Coinfactiva.com’s research:
Sophon secured $60M in a public sale funding round from Maven 11 Capital, Paper Ventures, The Spartan Group, and SevenX Ventures.
Arbelos Markets raised $28 million in a seed funding round from Dragonfly Capital, Room40 Ventures, Selini Capital, Breed VC, FalconX, Circle Ventures, Paxos, Chorus One, P2 Ventures (Polygon Ventures), Starkware, Immutable, and Deribit. Arbelos Markets is a trading firm providing principal liquidity across crypto derivatives markets, ranging from high-touch to programmatic.
Lagrange Lab raised $13.5 million in a seed funding round from Founders Fund, Archetype, 1kx, Maven 11 Capital, Fenbushi Capital, Volt Capital, CMT Digital, Mantle Network, Nikil Viswanathan, Joe Lau, David Phelps, and Amrit Kumar. Lagrange Lab is a zero-knowledge (ZK) startup developing its ZK system enabling secure interoperability across different blockchain networks by providing generalized state proofs. Unlike traditional bridges and messaging protocols, the Lagrange Protocol allows for real-time cryptographic proofs of cross-chain states, enhancing security and enabling decentralized applications to operate seamlessly across multiple blockchains.
Seeds Labs (Bladerite) secured $12 million in a seed funding round from Blizzard, Krust Universe, Hashkey Capital, UOB Venture Management, Signum Capital, Infinity Ventures Crypto (IVC), Emoote, and Solana Foundation. Seeds Labs is a game developer specializing in high-quality games and infrastructure, focusing on creating a fair and transparent economic system within the gaming industry. Its flagship product, Bladerite, is a Web3 melee battle royale game featuring innovative gameplay mechanics inspired by fighting games and action games. Seeds Labs aims to alleviate tensions between players and developers while ensuring sustainable revenue for continued game development investment.
Lava Network secured $11 million in a strategic funding round from Animoca Brands, Gate Ventures, Coingecko, Manifold, Crypto Times, Megala Ventures, Sandeep Nailwal, Lark Davis, Ash Crypto, and Coin Academy.
Galaxis secured $10 million in a funding round from Chainlink, Ethereum Name Services (ENS), Rarestone Capital, Taisu Ventures, Kapo Capital, and Moonrock Capital.
Botanix Labs received $8.5 million in a seed funding round from Polychain Capital, Placeholder, Valor Equity Partners, ABCDE Capital, Andrew Kang, Fiskantes, The Crypto Dog, Altcoin Sherpa, Dovey Wan, icebergy, and domo. Botanix Labs is a fully decentralized Layer 2 solution on Bitcoin, leveraging its security and decentralization for dApp development. By merging Ethereum Virtual Machine versatility with Bitcoin’s robustness, it introduces a Proof-of-Stake consensus layered atop Bitcoin’s Proof-of-Work, securing stakes with bitcoin in decentralized multisig wallets within the Spiderchain network for enhanced security and decentralization.
Owlto Finance secured $8 million in a strategic funding round from Bixin Ventures, CE Innovation Capital, Presto Labs, Hailstone Labs, Skyland Ventures, Blocore, SNZ Holding, Kroma, Coinseeker, Stratified Capital, x21 Digital, Maxx Capital Official, Incubate Fund, GSR Markets LTD, ChainCatcher, Coinvestor Ventures, Alpha Capital, Open Market Group (OMG).
Arch Network secured $7 million in a seed funding round from Multicoin Capital, Portal Ventures, Big Brain Holdings, OKX Ventures (ex OKEx Blockdream Ventures), Coin Merge Strategy (CMS), Tangent Ventures, UTXO Management, ABCDE Capital, Cypher Capital, Newman Capital, Santiago R. Santos, Muneeb Ali, Jason Choi, and Aaron Henshaw. Arch Network is the Bitcoin-native application platform, bridging Bitcoin’s sovereignty principles with full programmability and execution capabilities. By leveraging Solana’s efficiency and Bitcoin’s liquidity and security, Arch enables developers to build decentralized applications (dApps) directly on Bitcoin’s native chain, unlocking new possibilities while upholding core principles of decentralization and security.
UXUY raised $7 million in a Series A funding round from Binance Labs Fund, UTXO Management, JDI Ventures, Bixin Ventures, SWC Global, Matrix Partners, Coin Merge Strategy (CMS), Dewhales Capital, Comma3 Ventures, SatoshiLabs, YBB Foundation, Genesis Block Ventures Capital (GBV), Web3Vision, Pentos Ventures, NGC Ventures (NEO Global Capital), Metalpha, and GSR Markets LTD. UXUY is a cross-chain liquidity aggregation protocol and next-gen MPC-based decentralized trading platform that enables seamless token swapping across multiple chains.
Arcium (formerly Elusiv) raised $5.5 million in a strategic funding round from Greenfield Capital, Coinbase Ventures, Heartcore Capital, LongHash Ventures, L2 Iterative Ventures (L2IV), Staking Facilities, Smape Capital, Everstake, Anatoly Yakovenko, Keone Hon, Tristan Frizza, and Austin Federa. Arcium is a decentralized confidential computing network that empowers developers and applications to securely access performant computing power for sensitive data tasks.
AgriDex received $5 million in a pre-seed funding round from Endeavour Ventures, Parrogate, and Oldenburg Vineyards. AgriDex is a Solana-backed RWA marketplace revolutionizing the global agricultural industry by providing a transparent and integrated platform with its own internal economics. Leveraging Fiat-on-Chain, smart contracts, and participation vetting, AgriDex offers a compliant and streamlined solution for agricultural supply chain management, empowering participants in the agriculture sector to efficiently engage in transparent transactions.
DwellFi secured $3 million in a seed funding round from E1 Ventures, Stanford Blockchain Club, Hustle Fund, Blockchain Coinvestors, and Fortified Ventures. DwellFi is transforming asset management through cutting-edge AI, blockchain, and tokenization technologies. With its SOC-2, Type 1 SaaS platform, DwellFi serves a wide range of clients, including PE/RE/VC Funds, Hedge Funds, and LPs, offering advanced analytical capabilities and dynamic NFT tokenization for enhanced liquidity and efficiency in managing assets.
SlingShot DAO received $3 million in a funding round from Alphabit.
Hemera received $2.6 million in a funding round from Lingfeng Innovation Fund (LIF), Nomad Capital, SNZ Holding, and Chainlink.
Glacis raised $2.1 million in a seed funding round from Arrington Capital, Paper Ventures, Bitscale Capital, Protagonist, Edessa Capital, Collin Myers, LukeYoungblood, and Steve Kokinos. Glacis is a versatile protocol serving as a firewall, router, and universal adapter for chain-agnostic messaging, facilitating seamless cross-chain operations. Developers utilize Glacis to define security requirements and routing logic for messages sent across different blockchain networks, enabling simplified and secure decentralized application (dApp) development. By integrating with cross-chain General Messaging Passing protocols (GMPs) like Axelar and Wormhole, Glacis empowers developers to focus on creating robust applications without the complexities of managing multiple blockchain networks.
Zeal secured $2 million in a funding round from Gnosis DAO. Zeal is a self-custody crypto wallet designed for seamless management of Web3 assets across EVM networks and applications.
Ambient Network secured $2 million in a seed funding round from Borderless Capital, Solana Ventures, Sonic Boom Ventures, and Primal Capital. Ambient Network is a Solana-based decentralized physical infrastructure network (DePIN) focused on collecting environmental data. It acquired PlanetWatch’s network, previously on Algorand, and plans to migrate to Solana while launching its own token.
NuLink received $1.6 million in a strategic funding round from DWF Ventures, Poolz Finance, ViaBTC Capital, Coinvestor, Alpha Capital, Moonstarter, and Aza Ventures.
BAC Games received $1.5 million in a seed funding round from Hash Global, Gate Ventures, Matr1x, Stratified Capital, W Labs DAO (Watermelon Labs), Nothing Research, and Ash Crypto. BAC Games is the premier Web3 game platform on Blast, offering a variety of engaging games. Its flagship game, BAC (Blast Auto Club), is a relaxing HTML5 club racing game built on the Blast blockchain. It ensures a secure and transparent gaming environment while providing players with enjoyable learning experiences about digital racing and blockchain technology. The exclusive use of BAC tokens within BAC Games drives the in-game economic system, enhancing player interactions and rewarding mechanisms. The mission is to revolutionize WEB3 games through social interactions and create a vibrant digital cyberspace for innovative and interactive gaming experiences.
BlockBoosters secured $1.5 million in a seed funding round from OKX Ventures (ex OKEx Blockdream Ventures), Conflux Network, and BitcoinLab. BlockBoosters is a Venture Studio headquartered in Hong Kong, dedicated to nurturing the development of next-generation protocols and software infrastructure in the Web3 space, with a focus on Asia. Through expertise, mentorship, and access to a network of seasoned professionals, BlockBoosters supports incubated projects, fostering ideation, execution, and talent recruitment to ensure the success of innovative ventures in the blockchain industry.
Electron Labs received $1 million in a seed funding round from LambdaClass, Zephyrus Capital, Blue7, Interop Ventures, FounderHeads VC, Router Protocol, Aniket Jindal, Sandeep Nailwal, Anurag Arjun, Ajit Tripathi, Martin Köppelmann, and Jaynti Kanani. Electron Labs is an Ethereum-based universal ZK-proof aggregation layer, leveraging light clients and zero-knowledge proofs to uphold decentralization. Through the use of UPA, Electron consolidates proofs from multiple sources into a single superproof, effectively reducing costs per use case.
Telos secured $1 million in a funding round from Presto Labs.
MetaPhone secured $1 million in a funding round from JDI Ventures.
BitSmiley raised $1K in a public sale funding round.
DLC Link introduced a trustless bridge to Ethereum’s DeFi ecosystem, raising an undisclosed amount in a seed funding round from Cryptogram Venture (CGV). DLC Link utilizes Discreet Log Contracts (DLCs) to securely represent Bitcoin on the Ethereum blockchain as dlcBTC tokens. With DLCs, users retain full control of their assets, participating in DeFi protocols without relying on intermediaries or custodians, ensuring robust security and user sovereignty. DLC Link’s innovative approach enables seamless cross-chain communication, offering distinct advantages over traditional wrapped Bitcoin (wBTC) solutions, including self-wrapping, faster transactions, and competitive fees.
CityPay received an undisclosed amount in a funding round from Tether.
DeepLink received an undisclosed amount in a funding round from Waterdrip Capital.
Blade of God X (Void Labs) secured an undisclosed amount in a funding round from Delphi Ventures, OKX Ventures (ex OKEx Blockdream Ventures), Yield Guild Games (YGG), LongHash Ventures, Newman Capital, BreederDAO, Eden Holdings (ED3N Ventures), King River Capital, Gabby Dizon, and 071labs (Zero Seven One Labs).
Mint fun secured an undisclosed amount in an M&A funding round from Zora.
