As someone who has been closely following the crypto space for quite some time now, I must say that this week’s funding rounds are truly exciting! The amount of innovation and capital flowing into the Web3 ecosystem is nothing short of phenomenal.
This week, both Praxis and Blockstream made news as they successfully completed fundraising rounds worth over a hundred thousand dollars, according to recent updates.
Over the past seven days, there’s been a significant increase in venture capital funding for cryptocurrency compared to the previous week. Last week, Ithaca was at the top with a $20 million raise. But this week, as Bitcoin (BTC) rose above the $68,000 mark, crypto.news looked into and gathered data from October 13 to October 19.
Here are the firms that topped the list, according to Crypto Fundraising.
Praxis, $525 million
- Praxis is the first network state, which is building an online community of people with similar national consciousness.
- The firm leads the weekβs crypto VC funding with $525 million raised.
- The primary investors in the fundraising include Gem Digital, Arch, Manifold, etc.
Ad astra.
β ππ―ππ΅π¦π° (@praxisnation) October 15, 2024
Blockstream, $210 million
- Blockstream is building a crypto-financial infrastructure based on Bitcoin.
- The company has raised $210 million from lead investor Fulgur Ventures.
- Blockstreamβs crypto VC funding stands at $621 million in total.
Blockstream has successfully completed a $210 million investment round headed by FulgurVentures, furthering our goal to integrate Bitcoin within global finance. This funding will speed up the development of layer-2 technologies, expand mining operations in preparation for the next Bitcoin cycle, and bolster one of the world’s largest Bitcoin-related entities.
β Blockstream (@Blockstream) October 15, 2024
Azra Games, $42.7 million
- Azra Games is a gaming studio that focuses on creating immersive-role playing games.
- In a Series A led by Pantera, the company raised $42.7 million.
Remarkable games captivate remarkable financial backing β a fact we’re delighted to confirm with our recent $42.7m Series A round, spearheaded by Pantera Capital, and joined by a16zcrypto, a16zGames, NFX, FranklinBi, AriannaSimpson, Tocelot, zebird0, and GigiLevy.
β Azra Games (@AzraGames) October 15, 2024
Yellow Card Financial, $33 million
- Yellow Card Financial is a pan-African crypto exchange.
- The exchange raised $33 million in a Series C led by Blockchain Capital.
- Yellow Card Financial has raised a total of $89.5 million so far.
π Exciting announcement from Yellow Card!π
We’ve managed to secure US $33M in our Series C funding round, with leadership from @blockchaincap. This brings our total equity up to a massive $85M! This significant investment will power our expansion across Africa, improving our API and Widget products for hassle-free international transactions.
β Yellow Card App (@yellowcard_app) October 16, 2024
Towns, $25.5 million
- Towns is a web3 group chat protocol that allows communities to build blockchain-based gatherings.
- The firm has raised $25.5 million in a Series A by a16z Crypto, Benchmark and Framework.
As an analyst, I’m thrilled to announce that our town has successfully secured a substantial investment of $25.5 million from the esteemed venture capital firm, Andreessen Horowitz. With this backing, we are now ready to debut our innovative on-chain messaging platform today. #ExcitingTimesAhead π
β Towns (@townsxyz) October 15, 2024
Bitnomial, $25 million
- Bitnomial is a crypto exchange based in the U.S. that offers futures and options trading for cryptocurrencies.
- The exchange raised $25 million from Ripple via a Series C funding round.
- Bitnomial has raised $36.6 million so far.
Biominal is planning the debut of continuous future contracts on our CFTC-approved Biominal Trading Platform. This will also introduce @Botanical, a trading hub designed for investors to engage in continuous futures, conventional futures, and options markets. Learn more here:…
β Bitnomial (@Bitnomial) October 15, 2024
ZkPass, $12.5 million
- The identity verification solution has raised $12.5 million in a Series A round, with a round valuation of $100 million.
- ZkPass has raised $15 million till date.
1/10 Exciting news! The zkPass project has successfully closed a Series A funding round, pocketing $12.5M. This takes our total investment to $15M, speeding up the development of zkTLS for various Web3 platforms. In other words, action speaks louder than words β we’re making things happen! #zkPassFundingUpdate #Web3Innovation
β zkPass (@zkPass) October 17, 2024
Opacity Network, $12 million
- Opacity Network is a zero-knowledge proof protocol that aids in enabling verification without disclosing any details.
- The firm has raised $12 million in a seed funding round.
1/ The excitement is genuine. I’ve just learned that Opacity, a project I’m invested in, has secured a $12M funding round. Archetype Ventures and Breyer Capital are leading this investment, with additional support from a16z Crypto, Finality Capital, Bodhi Ventures, North Island Ventures, EV3 Ventures, Ambush Capital, and GD1 Ventures. The buzz surrounding this project is growing, and I can’t wait to see what the future holds!
β Opacity Network (@OpacityNetwork) October 15, 2024
Solv Protocol, $11 million
- Solv Protocol provides investors with access to crypto investments via a trustless fund infrastructure.
- The company raised $11 million in a strategic round with a round valuation of $200 million.
Excited to share that we’ve raised a total of $25M in funding to facilitate widespread usage of Bitcoin staking. This initiative is fueled by our latest creation, the Staking Abstraction Layer (SAL).
β Solv Protocol (@SolvProtocol) October 14, 2024
Mento Labs, $10 million
- Mento Labs is a platform that creates and operates multi-currency stable assets.
- The firm has raised $10 million on Oct. 16.
π£ MentoLabs is thrilled to share the news of a $10M fundraising success! π
In the midst of our progress and achievements, we’re excited to reveal our strategic roadmap for stablecoins. This plan aims to launch decentralized local currency stablecoins in Africa, Asia, and Latin America.
β Mento Labs (@MentoLabs) October 16, 2024
Crypto VC funding rounds < $10 million
- Predicate: The decentralized network raised $7 million.
- ZeroBase: The ZK proof generation platform raised $5 million from investors like Binance Labs, Lightspeed Action, etc.
- Drop Protocol: Drop Protocol raised $4 million in a seed funding round.
- Plasma: The zero-fee payment platform raised $3.5 million.
- Pell Network: Pell Network raised $3 million in a pre-seed round.
- Blockcast: The content delivery network raised $2.85 million in a seed funding round.
- The Arena: The Arena raised $2 million in a pre-seed round.
- Hyve DA: The data availability network raised $1.85 million in a pre-seed round.
- Surge: Surge raised $1.8 million in a pre-seed round from investors like Gerstenbrot Capital, CoinGecko, etc.
- Hermetica: The DeFi platform raised $1.7 million in a seed round.
- Lombard: Lombard raised $1 million from Binance Labs.
- World of Dypians, CCData, Bracket Labs and Marketnode raised undisclosed amounts this week.
Check out our last weekβs column from here.
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2024-10-20 01:04