This past week, venture capital investors were actively involved in securing new financing deals with Centrifuge, Crypto Valley Exchange, and Nebra.
Crypto Valley Exchange
A $7-million investment round took place, comprised of both pre-seed and seed phases. Fabric Ventures and Kyber Capital Crypto Fund collaborated to spearhead this financing.
Notable supporters such as AMDAX, Wave Digital, Funfair Ventures, and the Seier Capital Family Office, along with other prominent backers, have lent their backing to Crypto Valley Exchange.
We’re excited to announce that CVEX has raised $7 million!The round was co-led by @fabric_vc & @SALTConference family fund and includes:– @AmdaxNL– @wavedigital_– @FunFairTech Ventures– @seiercapital– Five T Tech– @saxonxyz — Crypto Valley Exchange (CVEX) (@cvex_xyz) April 16, 2024
CVEX intends to launch a decentralized exchange (DEX) tailored for cryptocurrency fans, focusing on delivering transparent and affordable futures and options trading. A notable aspect is its innovative bid-offer mechanics, which the team believes will outperform current trading systems.
In relation to the planned mainnet debut on Arbitrum (ARB) this summer, CVEX announced that it would offer advanced trading functions, which are compatible with various user wallets, including those on Ethereum (ETH), Optimism (OP), and Solana (SOL).
Approximately 160,000 users have registered for early access during CVEX’s testing period. The CVEX team is optimistic that their platform may significantly alter the derivatives market scene.
Established risk management methods will be introduced onto the blockchain, enabling a wide range of users from casual investors to large institutions to employ effective risk strategies and hedging techniques. This development will significantly expand the availability of trading liquidity for decentralized finance derivatives.
James Davies, Chief Product Officer, CVEX
Centrifuge
Additionally, Centrifuge, a prominent figure in the on-chain finance sector, recently disclosed they raised a significant $15 million during their Series A investment round.
The oversubscribed and diversely backed funding round is seen as a key milestone in Centrifuge’s mission to become the leading platform for tokenizing real-world assets (RWAs).
Centrifuge intends to debut a marketplace for institutional loans backed by Real-World Assets (RWAs) on the secondary Base layer-2 platform. This marketplace will also be linked with Coinbase’s verification process.
The company’s initiative aims to facilitate quick and safe entry for institutions into real-world assets, while offering immediate liquidity and lending opportunities based on their asset holdings.
Nebra
Nebra, a blockchain and zero-knowledge proof (ZKP) research platform, gained attention by raising $4.5 million through their pre-seed and seed funding rounds.
Nascent and Bankless Ventures led the charge.
Blockchain research organization Nebra raises $4.5 million in seed funding
— Cointime (@Cointime_global) April 17, 2024
Based on Nebra’s report, several angel investors took part in the funding round. Among them were Tim Beiko, Kartik Talwar, and Nick White, along with some other investors.
The organization expressed its expectation that the influx of funds would allow them to develop a common foundation for web3, which could potentially decrease expenses related to proof settlements on significant blockchains such as Ethereum.
Dan Elitzer, co-founder of Nascent, described Nebra’s strategy for progressing blockchain Zero-Knowledge Proof (ZKP) settlements as analogous to the ways major tech companies like Google and Uber accumulated resources in their industries to revolutionize how they functioned. In simpler terms, Nebra is taking a collective approach to advancing ZKP settlements in blockchain technology, similar to how Google and Uber amassed resources to significantly impact their respective markets.
In a similar way that Google changed how we access information by collecting data from the web and Uber disrupted urban travel by gathering transportation services, Nebra is leading the charge in bringing cost savings to blockchain Zero-Knowledge Proof (ZKP) transactions through their innovative approach.
Dan Elitzer, Nascent co-founder
Elitzer refers to Nebra as a trailblazer in achieving significant cost savings for blockchain transactions through innovative methods.
In the opening three months of 2024, there was an investment inflow of approximately $2.5 billion from international financiers into cryptocurrency startups, as reported by PitchBook.
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2024-04-20 23:12