Crypto VC funding: Huma Finance raises $38m, Fuse clinches $12m

As someone who has been following the world of blockchain and decentralized finance for quite some time now, it’s always exciting to see new projects popping up and raising funds. This week, INFINIT’s announcement about supporting more dApps and chains is music to my ears. It’s clear that they are gearing up for growth across the ecosystem.

Over the past week, at least 19 businesses successfully secured venture capital investments. The largest funding round was received by Huma Finance, a company specializing in tokenized real-world assets.

On September 11th, Huma revealed they had successfully raised $38 million through a funding campaign headed by Distributed Global. In addition, Hashkey Capital, the Stellar Foundation, Folius Ventures, and Turkish private bank İşbank joined in this investment effort.

The business intends to utilize a total of $38 million, obtained through equity financing ($10 million) and yield-bearing RWAs ($28 million), for the purpose of expanding its PayFi network on a global scale. Additionally, it aims to launch operations on the smart contracts networks associated with Solana (SOL) and Stellar (XLM) within the upcoming months.

This week’s cryptocurrency venture capital funding roundup highlights recent updates from X.com in addition to our trusted source, Crypto Fundraising Tracker. The following are the latest announcements made between September 8th and September 14th:

Fuse (Project Zero), $12 million

In a financing round orchestrated by Multicoin Capital, the London-based company specializing in developing decentralized renewable energy sources, known as Fuse, raised an impressive sum of $12 million.

We’re excited to share that we’ve secured a $12M strategic funding round, with Multicoin Capital taking the lead, alongside Aeya Yakovenko and others. The funds will be used to develop Project Zero 2050, a decentralized renewable energy system. Our goal is to speed up the worldwide adoption of renewable energy by compensating network participants for…

— Fuse (@FuseEnergyHQ) September 12, 2024

PIN AI, $10 million

PIN AI, an AI infrastructure company, confirmed $10 million in pre-seed funding. The startup aims to develop the world’s first open-source Personal Intelligence Network (PIN).

The list of backers includes: A16z CSX, Hack VC, Blockchain Builders Fund (Stanford Blockchain Accelerator), NEAR Protocol founder Illia Polosukhin, SOL Foundation president Lily Liu, Symbolic Capital, Mysten CEO Evan Cheng, dcbuilder (Worldcoin Foundation), Foresight Ventures, Nomad Capital, Cresta co-founder Tim Shi, Espresso CEO Ben Fisch, Gitcoin co-founder Scott Moore, Alumni Ventures, and Dispersion Capital.

DRiP, $8 million

On September 9th, the innovative startup known as Drip Labs secured a $8 million investment in its seed round, with NFX taking the lead. Additionally, Coinbase Ventures and Progression contributed to the funding.

Nytro Lab (Castile) CAST, $8 million

In a recent funding round, development company Nytro Lab based in Hong Kong secured approximately $8 million. These funds are expected to be utilized for the launch of their first blockchain game, Castile, which commenced its beta testing phase on September 10th.

7X Capital and OKX Ventures were the main investors in this funding round. Aptos Labs, Amber Group, HashKey, and Leland Ventures joined in as well. Additionally, Matr1x – a partner publisher of Castile – is supporting Nytro Lab’s venture too.

Infinit, $6 million

According to The Block, Infinit successfully secured $6 million in a financing round. Electronic Capital, Mirana Ventures, Hashed, and Arthur Hayes’ personal investment firm, Maelstrom, were among the participants contributing to this funding effort.

Moku, $5.35 million

In an impressive funding round, Moku secured a total of $5.35 million. Sky Mavis and A16Z GAMES took the lead in this investment, attracting support from numerous other investors. Among them were Contango Digital Assets, Arca, Framework Ventures, Bankless Ventures, DRW’s Richard Dai, Flori Ventures’ Holly Liu, 32-Bit Ventures and Phantom’s Jason Lee.

Rounds < $5 million

Blocksense Network: $4 million in seed round funding led by Permutation
Syrupal Protocol: $3.75 million seed round; valuation now $25 million
Fountain Platform: $3.5 million in financing; Its backers include Foundation Capital, Caladan, Primal Capital, Druid Ventures, MHC, United Overseas Bank, NGC Ventures, Marin Ventures and Blockchain Founders Fund.V
Wingbits: Stockholm-based protocol raised $3.5 million from Borderless Capital and Tribe Capital, alongside Antler and angel investors.
Titan: The fundraise totaled $3.5 million and was led by Round13 Digital Asset Fund; RN Financial Corp also participated.
T1 Protocol: The Ethereum scaling solution T1 Protocol has successfully raised $2.5 million in a pre-seed funding round. Investors include A16z, Espresso, Frax, Cow Swap, ETH Global, ENSO, Injective and Titan.
Hyperbridge Protocol: The Web3 Foundation teamed up with Scytale Digital to lead a $2.5 million seed funding round for Hyperbridge.
Ammalgam: The decentralized lending exchange closed a $2.5 million seed round co-led by Faction VC and Framework Ventures. Robot Ventures, Bodhi Ventures, NGC Ventures, Dewhales and Blockchain Founders Fund also participated.
Orange Cap Games (Vibes): The $2 million pre-seed angel round will allow Orange Cap to bring IP to life through its upcoming trading card game Vibes featuring Pudgy Penguins.
GasHawk: The startup raised $1.6 million in a pre-seed funding round from 3SE Holdings, AVID3, Artemis Capital, Appworks, Redbeard Ventures, Alchemy, and several angel investors.
Universal Health Token: Animoca, Polygon, and Tezos supported the $1.2 million pre-seed funding round for UHT.
Carrot CRT: The startup, whose mission is to “simplify earning top yields across Solana’s DeFi ecosystem,” collected $600,000 in a pre-seed funding round.

For last week’s column, click here.

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2024-09-14 21:48