Crypto VC funding: Ithaca leads week with $20m, Delta bags $11m

As a seasoned crypto investor with a decade of experience under my belt, I can confidently say that this week’s crypto VC funding landscape is nothing short of exhilarating. The surge in both the number and volume of funds raised is reminiscent of the bull run we witnessed back in 2017.

Ithaca and Delta are the top two firms with the highest fundraising for the week, data shows.

Compared to last week’s relatively low amount of venture capital funding for cryptocurrency, there has been a noticeable increase in both the quantity and size of funds raised this week.

In early 2024, there’s been a significant upward trend in venture capital funding for cryptocurrency, with consistently high levels throughout the year. According to Crypto Koryo, this surge is noticeable compared to the final quarter of 2023, as both total investment amounts and the number of investments have increased significantly.

For the period between October 6th and October 12th, Crypto.news has gathered data on cryptocurrency fundraising. Let’s take a look at the most significant venture capital funding statistics in the crypto world for this week.

Ithaca, $20 million

• Ithaca is a project focused on expanding decentralized technology by the creation of an open-source developer tool stack.
• The firm raised $20 million from Paradigm recently.

Delta, $11 million

• Delta is a permissionless network that allows for efficient interoperability between member domains.
• The company raised $11 million from investors like Variant, DBA and Figment Capital.

Presenting Delta, a unified network of networks that allows shared state among its members.

Delta is a system designed from the ground up, aimed at resolving the traditional balance between autonomy and compatibility for developers.

We’re excited to share that we have secured $11M in funding to bring this vision to life.

— delta (@deltadotnetwork) October 9, 2024

Humanode, $10 million

• Humanode is a crypto-biometric network that has introduced Sybil resistance and governance models.
• The network has raised over $22.76 million so far.
• The latest $10 million raised was from investors like Republic Crypto and Big Brain Holdings.

The Open Network, $10 million

The Open Network (TON) is a layer 1 blockchain created by Telegram.
TON has raised $58 million since its inception.
The firm raised $10 million, with Gate Venture leading the investment.

PiP World, $10 million

• PiP World is a gamified platform that was created to promote financial trading and learning.
• The firm recently raised $10 million in a seed round led by Exinity.

Crypto VC funding rounds < $10 million

• Bitlayer: The firm raised $9 million in a Series A led by Polychain Capitak, Franklin Templeton, SCB Limited, etc.
• Dragonz Land: The play-to-earn game raised $9 million from Syndicate Capital.
• OpenGradient: The decentralized platform for AI models raised $8.50 million in a seed round.
• Yala: The DeFi protocol raised $8 million in a seed round led by Polychain Capital, Ethereal Ventures.
• Kiva Ai: The company raised $7 million in a pre-seed round led by CoinFund.
• Apex Fusion: In a seed round, the firm raised $6 million from TRGC.
• Semantic Layer: In a seed round led by Figment Capital, the firm raised $3 million.
• APRO: The Oracle solution platform has raised $3 million in a seed round led by Polychain Capital, Abcde Capital, Franklin Templeton.
• Trendies: The social platform raised $1.75 million in a pre-seed round led by Archetype.
• Fission Labs: Fission Labs raised $1.60 million in a pre-seed round led by Salt Find, Kraynos Capital, Anthony Scaramucci.
• ZAP: The distribution protocol raised $150.01k in a public sale led by individual investors.
• Firms like TSFC and Bison Swap also raised undisclosed amounts during the last seven days.

For last week’s column, click here.

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2024-10-12 17:22