Dates: 14 October 2024 – 20 October 2024. This week’s notable funding rounds according to Coinfactiva.com’s research:
Praxis Raises $525M for Global Network State
Praxis, a network state project, secured $525 million in a funding round led by GEM Digital Limited. Other contributors include Arch Lending, Manifold, Dan Romero, Will Price, and Anirudh Pai. Praxis aims to build a decentralized community with a shared governance model and a physical city. The initiative uses blockchain and crowdfunding to create new societal frameworks, combining digital and physical infrastructure to promote decentralized governance and financial systems.
Blockstream Raises $210M for Bitcoin Solutions
Blockstream, a leader in Bitcoin technology, secured $210 million from Fulgur Ventures to expand its Bitcoin-based solutions. Blockstream focuses on building crypto-financial infrastructure for financial markets.
Azra Games Raises $42.7M for RPG Development
Azra Games, a gaming studio, secured $42.7 million from Pantera Capital and Andreessen Horowitz. The studio focuses on developing immersive role-playing games (RPGs) with rich storytelling and real-time action. Their flagship project, Project Legends, aims to offer a next-gen gaming experience.
Towns Raises $25.5M for Web3 Group Chats
Towns, a decentralized group chat platform, raised $25.5 million from Andreessen Horowitz and Benchmark. The platform allows online communities to create blockchain-based gatherings with fully decentralized ownership and end-to-end encryption.
Bitnomial Raises $25M in Series C Round
Bitnomial, a U.S.-regulated cryptocurrency exchange, raised $25 million from Ripple. The platform offers physically settled futures and options trading for Bitcoin, catering to institutional and professional traders.
zkPass Raises $12.5M for Web3 Identity Verification
zkPass secured $12.5 million from dao5 and Animoca Brands to build a privacy-preserving identity verification solution. Using zero-knowledge proofs and multi-party computation, zkPass allows users to verify data without disclosure. It supports applications like DeFi lending and decentralized identity systems.
HyveDA Secures $1.9M in Pre-Seed Round
HyveDA, a decentralized data network, raised $1.9 million in a pre-seed round led by Lemniscap and Paper Ventures. HyveDA aims to process data with high throughput and low latency, making it a suitable platform for applications like decentralized AI, DeFi, and Layer 2 scaling. The platform delivers a throughput of 1 GB/s, ensuring rapid data availability for decentralized infrastructures.
Drop Protocol Gains $4M in Seed Funding
Drop Protocol, a decentralized liquid staking platform, raised $4 million from CoinFund and CMS Holdings. Built on Neutron and secured by Cosmos Hub, Drop allows users to earn staking rewards while maintaining liquidity. The platform supports validators and developers, integrating liquid staking tokens into decentralized finance (DeFi) applications.
Surge Raises $1.8M to Scale Bitcoin
Surge, a decentralized MetaLayer for scaling Bitcoin, secured $1.8 million from Gerstenbrot Capital and Samara Asset Group. Surge uses Bitcoin’s security to support modular rollups and decentralized apps (dApps). With its low-latency, high-throughput infrastructure, the platform aims to unlock new opportunities within the Bitcoin economy.
Hermetica Raises $1.7M for Bitcoin DeFi
Hermetica, a DeFi platform offering Bitcoin-backed stablecoins, raised $1.7 million in seed funding. Backers include UTXO Management and Silvermine Capital. Hermetica’s core product, USDh, offers up to 25% annual returns, providing yield-bearing opportunities for Bitcoin holders. The platform enables staking, lending, and trading within the Bitcoin DeFi ecosystem.
Opacity Network Raises $12M in Seed Round
Opacity Network raised $12 million from Archetype, Breyer Capital, and a16z Crypto Startup Accelerator. Opacity is a zero-knowledge proof protocol that enables secure data sharing across Web2 and Web3. By leveraging zkTLS for privacy, it offers high-security solutions for private data verification and sharing, utilizing zero-knowledge proofs to protect sensitive information.
Blockcast Secures $2.9M for Content Delivery
Blockcast, a decentralized content delivery network, raised $2.9 million from Lattice Fund and Alliance DAO. Blockcast reduces content delivery costs and enhances quality through its global network of caching nodes. It supports high-bandwidth services like streaming and gaming, rewarding users and operators for running Blockcast nodes.
Arena Raises $2M for SocialFi Platform
The Arena, a SocialFi platform, raised $2 million from Abstract Ventures and C² Ventures. Arena merges social networking with decentralized finance, allowing users to earn rewards and monetize their interactions. It emphasizes user engagement and financial empowerment within decentralized communities.
Pell Network Raises $3M for Bitcoin Ecosystem
Pell Network raised $3 million from Halo Capital and Mirana Ventures to enhance Bitcoin’s scalability. The decentralized platform focuses on providing validated services for the Bitcoin ecosystem, leveraging decentralized technologies to improve performance and security across various applications.
ZeroBase Secures $5M for ZK Proof Solutions
ZeroBase, a platform for real-time zero-knowledge proof generation, raised $5 million from Binance Labs and Lightspeed Faction. The platform focuses on maintaining privacy while ensuring scalable solutions for sectors like finance and AI. Its products, including zkLogin and zkKYC, enable privacy-preserving authentication and secure identity verification.
Plasma Raises $3.5M for Bitcoin Payment Solutions
Plasma, a zero-fee payment platform built on Bitcoin, raised $3.5 million from Bitfinex and Anthos Capital. The platform supports USD₮ transfers with zero fees and introduces a novel Nakamoto PoS consensus mechanism. Plasma aims to enhance Bitcoin’s utility for decentralized applications with its scalable infrastructure.
Lombard Secures $1M for Bitcoin DeFi
Lombard, a DeFi platform for Bitcoin, raised $1 million from Binance Labs. The platform’s product, LBTC, allows users to hold Bitcoin while earning yield through cross-chain engagement. Lombard aims to expand Bitcoin’s DeFi capabilities and enhance liquidity.
Yellow Card Financial Raises $33M in Series C Round
Yellow Card Financial, a Pan-African cryptocurrency exchange, secured $33 million from Blockchain Capital and Polychain Capital. The platform focuses on expanding cryptocurrency access across Africa.
Mento Labs Raises $10M for Stable Assets
Mento Labs raised $10 million from T-Capital and Hashkey Capital to support multi-currency stable assets. The platform emphasizes financial inclusion by providing low-volatility stablecoins in emerging markets. Mento integrates an automated market maker (AMM) for currency swaps and focuses on transparency and accessibility.
Predicate Raises $7M for On-Chain Policies
Predicate raised $7 million from 1kx and Tribe Capital to develop a decentralized network for creating customizable on-chain policies. The platform enables developers to build secure, rule-based transactions on Ethereum.
Solv Protocol Secures $11M for DeFi Expansion
Solv Protocol raised $11 million from Laser Digital and Blockchain Capital to bridge liquidity across DeFi, CeFi, and TradFi. The platform allows institutions and retail investors to access trusted crypto investments through a transparent fund infrastructure.
World of Dypians Raises Undisclosed Funds for Metaverse
World of Dypians, a blockchain-based metaverse platform, raised an undisclosed amount from IBC Group. The platform allows users to explore, interact, and earn rewards through DeFi and NFTs.
Bracket Labs Raises Undisclosed Funds for Trading Solutions
Bracket Labs raised undisclosed funds to develop leveraged structured products on-chain. The platform helps traders take advantage of market volatility with simple interfaces and adaptive pricing models.
Marketnode Receives Investment for FMI Development
Marketnode, a financial market infrastructure platform, raised undisclosed funds from Euroclear. Marketnode utilizes Distributed Ledger Technology (DLT) to manage digital asset transactions and lifecycle processes. Its Gateway service focuses on tokenized asset issuance and settlement for financial institutions.
CCData Receives Undisclosed M&A Investment
CCData, a digital asset data provider, raised undisclosed funds in an M&A round from CoinDesk. The platform offers institutional-grade data across over 300 exchanges, supporting financial institutions with real-time and historical market insights.
