- Figure Technologies and Succinct were the leaders in terms of the amount of funding received.
- The funds’ attention was focused on the DeFi and blockchain infrastructure development sectors.
- 16 projects did not disclose the amount of investment.
Between March 16 and March 23, 2024, 42 projects raised investments totaling $262.8 million.
In particular, during the week funding was received by:
- $60 million – Figure Technologies. The company has closed a Series A funding round co-led by Jump Crypto, Pantera Capital and Lightspeed Faction with participation from Distributed Global, Ribbit Capital and CMT Digital. The funds raised will be used to launch the Figure Markets platform, which will operate on the Provenance blockchain. The platform will be able to trade cryptocurrencies, stocks and “alternative investments”.
- $55 million – Succinct. The zero-knowledge proofs solutions startup raised investment in a seed round of funding and a Series A round led by Paradigm. Other investors included Robot Ventures, Bankless Ventures, Geometry, ZK Validator, Polygon co-founders Sandeep Nailwal and Daniel Lubarov, and EigenLayer founder Sriram Kannan.
- $28 million – Espresso. The company has raised investment from Andreessen Horowitz and Polygon Labs. The series B funding round is known to close in February 2024. The capital will be used to continue developing Espresso products and expand the team.
- $20 million – Morph. The Level 2 Network developers announced the completion of a seed round of investment led by Dragonfly Capital with participation from Pantera Capital, Symbolic Capital, Spartan Group, MEXC Ventures, Public Works and other funds. The team plans to use the capital to expand staffing and marketing, as well as improve technical infrastructure.
- $18M – Mystiko Network. The Web3 protocol team completed a seed round of funding led by venture capital firm Peak XV Partners (formerly Sequoia Capital India/SEA). Other investors included Samsung Next, Hashkey, Mirana, Signum, Coinlist, Tribe Capital, Morningstar Ventures, Nawal Ravikant, Sandeep Nailwal and Gokul Rajaram.
- $11.5 million – Tokenize Xchange. The Singapore-based cryptocurrency exchange has received investment from venture capital firm Trive and private investors. The new funds are being used to expand the team. The firm plans to increase its headcount in Singapore by 5x in the next 18 months.
- $11 million – MANTRA. The startup, which aims to create a “real-world asset (RWA) tokenization-adapted network” based on the Cosmos blockchain, has raised investment. The funding round was led by Shorooq Partners with participation from Three Point Capital, Forte Securities, Virtuzone, Hex Trust and GameFi Ventures.
- $9 million – Ten. The Ethereum-based L2 network has received investment from R3, Republic Crypto, KuCoin Labs, Big Brain Holdings, Magnus Capital and DWF Labs. The developers position TEN as a universal, privacy-focused Layer 2 solution for Ethereum. It is designed to provide fast and inexpensive transactions while maintaining privacy and security.
- $8.5 million – Zone. The African payments company announced the completion of a seed round of funding led by venture capital firms Flourish Ventures and TLcom Capital. The startup is building a decentralized blockchain-based payment infrastructure for financial service providers on the continent and beyond. The new funding is being used to grow the network domestically and attract more companies. “A “significant portion” of the funds raised will be used to conduct a comprehensive pilot program to test cross-border payments, planned for 2025.
- $6.2 million – Rails. The decentralized cryptocurrency exchange has raised the investment in a seed round of funding led by Slow Ventures with participation from CMCC Global, Round13 Capital and Quantstamp. The capital is being used to grow its engineering team and expand its licensing and regulatory strategy.
- $6M – Keyring Network. The London-based company, which aims to “help institutional investors engage with DeFi platforms,” has closed a seed round of funding. Investors included Gumi Cryptos Capital, Greenfield Capital, Motier Ventures, Kima Ventures and others.
- $6 million – Moondance Labs. The startup closed a strategic funding round, which was co-led by KR1, SNZ Capital and Scytale Digital with participation from Arrington Capital, Borderless Capital, Cross-Chain Fund Wormholecrypto, Hypersphere and Blockchain Founders Fund, as well as angel investors. The funds raised will be used to grow the team and develop the Tanssi infrastructure protocol.
- $3 million – CoinMart. The cryptocurrency platform has raised funding from IDG Capital. The company is looking to use the new capital to expand its presence as well as improve its services across Europe.
- $3 million – Bi.social. The decentralized social commerce protocol announced the completion of a funding round that included participation from Web3Vision, WAGMi Ventures, and QF Capital. The funds will be used to develop the project.
- $3 million – Tensorplex Labs. Web3, an artificial intelligence (AI) startup, has completed a seed round of funding co-led by Canonical Crypto and Collab+Currency with participation from 18 other investors. The company will use the funds to develop a decentralized artificial intelligence infrastructure.
- $2.2 million – GRVT. The hybrid cryptocurrency exchange raised investment in a strategic funding round. The investors were QCP Capital, Selini Capital and Pulsar Trading.
- $2 million – GAM3S.GG. The Web3 gaming platform has raised investment from Merit Circle, WWVentures, Cogitent Ventures, P2 Ventures, Cypher Capital, Acheron, Basics Capital, OIG Capital, BreederDAO, Hercules and angel investors. After receiving the funding, the company will start developing its own G3 token.
- $2 million – Umoja. The decentralized protocol has completed its initial round of funding. The project managed to attract funds from Coinbase Ventures, Blockchain Founders Fund, and 500 Global venture funds. In addition, the protocol was backed by Quantstamp, Orange DAO, Hyperithm Psalion, and Avalanche’s Blizzard Fund. The capital raised will be used to expand access to the smart money protocol offering automated investment strategies.
- $1.5M – EarlyFans. SocialFi app built on the Blast ecosystem received investment as part of a seed round of funding. Investors were GBV Capital, Alchemy, Alliance DAO and 9 other counterparties, including private equity.
- $1.5M – Savage. Web3-company raised funds in a seed round of funding. The investors were Faculty Group, Polygon Ventures, Morningstar Ventures, Ash Crypto, Terranova Ventures, Banter Capital, Vendetta Capital, VBC Ventures, Top7ICO and others.
- $1 million – Juice Finance. DeFi project based on the Blast ecosystem has raised funding from Arthur Hayes, DWF Labs, Delphi Digital and others. The startup aims to provide innovative solutions in the DeFi sector by leveraging the power of the Blast ecosystem.
- $1 million – Ooga Booga. The Berachain-based decentralized exchange aggregator closed a funding round at a $10 million valuation. The investment was led by Kenetic Capital with participation from PANONY, CitizenX Crypto Ventures, Cypher Capital Group, Sneaky Ventures and 14 other counterparties.
- $1 million – Castle Of Blackwater. The Web3-game team announced the completion of a strategic funding round. Metrics Ventures, 3Commas Capital and Faculty Group provided investment to the startup.
- $1 million – Trex20. The bitcoin-based GameFi platform raised funds from Moonrock Capital, Marshland Capital, NxGen, x21 Digital, Oddiyana Ventures, Triple Gem Capital, and Nabais Capital.
- $900,000 – Dolomite. Arbitrum-based Protocol announced the completion of a strategic funding round. Investors include Polygon co-founder Sandeep Nailwal, DCF GO, Pentoshi, Polygon Labs CEO Marc Boiron, and DeFi Dad.
- $500,000 – Bitbrand. The blockchain platform where luxury goods can be purchased digitally has raised funding from Hustle Fund, Side Door Ventures, GFR Fund and others.
A number of other projects have raised funding, but have not disclosed the amount of investment.
Rollie Finance, a trading platform using artificial intelligence, received funding from Animoca Ventures, M77 Ventures and private investors.
OpenStamp, a platform built on the STAMP protocol, raised capital at a valuation of about $50 million. The seed round was led by Animoca Ventures with participation from KuCoin Ventures, MH Ventures, VitalTao Capital, Lotus Capital, Brotherhood Ventures, Blue Node Capital, D64 Ventures, Luminescent Capital, Spicy Capital, Halvings Capital, SPEC Capital and YM Capital. The company will use the new capital to expand and enhance its platform.
Blast-based lending protocol, Pac Finance, has received an investment from Manifold.
Entangle announced that it has received an investment from Consensys.
Startup ZKasino has closed a strategic funding round that included MEXC, Big Brain Holdings, Pentoshi, 0xSisyphus. The company’s valuation is $350 million.
The team behind Gull Network, an L3 solution built on the Manta blockchain, announced the closing of a strategic funding round. Investors included GBV Capital, Magnus Capital, x21 Digital, Maven Capital, Basics Capital and others. The funds are being used to realize the mission to innovate and expand the business.
Cardano tokenization platform NMKR, which aims to make Web3 accessible, has raised funding from EMURGO Ventures. The new capital is being used to expand NMKR’s reach in the Asian NFT and RWA tokenization market.
L1 blockchain XPLA has closed a strategic funding round led by venture capital fund Builder Capital.
Eesee, a platform that offers “gamified trading of digital assets” has raised a strategic investment from Animoca Brands.
HyperPlay, an online crypto-game store, received funding from Square Enix. The company intends to use the funding to further expand its game store.
Venture capital firm Alpha Token Capital invested in Web3 company Carrieverse, which is creating a meta-universe.
Asterix Labs closed a strategic funding round. Investors included 20 Hashed Fund, Everest Ventures, Momentum 6, Arcane Group, DeFi Capital, LiquidX and three other counterparties.
KiloEX, a decentralized exchange built on BNB Smart Chain, raised strategic investments from Foresight Ventures, Poolz Ventures, Manta Network, 7UpDAO and GTS Ventures.
Web3 gaming company Nebula Revelation, has completed a new round of funding with participation from DWF Labs, Waterdrip Capital, Central Research, Stratified Capital and CapsuleX Labs.
L2’s bitcoin-based L2 solution team, AIL2, announced that it has received strategic investments from Waterdrip Capital, Satoshi Lab, Foundinals Lab, Monday Capital, AlNN Labs, Bitrise Capital, Genblock Capital and others.
Flash Protocol platform has received funding from DWF Labs, Signum Capital, Rarestone Capital, Cogitent Ventures, Portico Ventures and 4 other counterparties.
The top 5 funds by number of investments between March 16 and March 23, according to CryptoRank:
Projects of such segments as Web3, blockchain services, blockchain infrastructure, GameFi, DeFi, CeFi, NFT and others attracted funding during the week.
Recall that in the period from March 9 to 16, 38 projects attracted investments totaling $258.7 million.
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