Compiled by: Golden Finance
Thirty blockchain startups raised a total of $162.8 million in funding this week. 14 projects received pre-seed and seed round investments, and 15 projects received other rounds of financing.
This week’s largest funding rounds
The Open Network (TON)
The Open Network (TON) has raised $30 million in a funding round led by Bitget and Foresight Ventures.
TON (The Open Network) is a fully decentralized first-layer blockchain developed by Telegram. It provides fast transactions, low fees, user-friendly applications, and environmentally friendly features. TON aims to integrate various blockchains with the existing Internet, providing a scalable and secure platform capable of hosting a wide range of applications and services.
Pre-seed and seed investments
Octra
Octra raised $4 million in a pre-seed round with participation from Finality Capital*, Big Brain Holdings, Karatage, Presto Labs, Builder Capital, Zero Dao, Curiosity Capital, Wise3 Ventures, ID Theory, Vamient Capital, Cogitent Ventures, Outlier Ventures, and xo2 com.
Octra is a blockchain network focused on fully homomorphic encryption (FHE), providing secure mathematical cryptographic tools for isolated execution environments. The platform supports smart contracts developed in OCaml, AST, ReasonML, and C++, and provides open source libraries such as Hypergraph for wider compatibility. Octra uses an extended version of IrminDB to manage data with validators.
Blend Finance
Blend Finance has raised an undisclosed amount in a seed round with participation from IBC Group, HackQuest, and Mario Nawfal.
Blend is a decentralized, non-custodial liquidity market protocol built on Bitcoin's second layer protocol. It allows users to provide liquidity and earn passive income or borrow through over-collateralized or under-collateralized loans. The protocol is audited, open source, and supports interaction through a user interface, API, or smart contracts. Users can tokenize their loan positions into bTokens, which are tradable and play a key role in Blend's governance and staking.
Bool Network
Bool Network raised $2 million in a seed round with participation from AntAlpha, ViaBTC Capital, Spark Digital Capital, Cogitent Ventures, Web3Port Labs, D11-Labs, SatoshiLab, Sharding Capital, and CKB Eco Fund.
Bool Network is a decentralized Bitcoin validation layer that enhances its scalability by not changing the Bitcoin core consensus mechanism. It utilizes MPC-based distributed key management, Dynamic Hidden Committee (DHC), and Ring Verifiable Random Function (Ring VRF) protocols to increase transaction throughput and solve the blockchain trilemma. These innovations ensure faster transaction speeds while maintaining security and decentralization. Bool Network fills a gap in scalable Bitcoin solutions by providing enhanced privacy and integrity.
Sorted
Sorted raised $1.5 million in a pre-seed round with participation from Tether.
Sorted Wallet is a non-custodial cryptocurrency wallet designed to promote financial inclusion for the unbanked and underbanked in emerging markets. It provides secure access to cryptocurrency through feature phones and low-power smartphones, enabling users to manage and grow their wealth. By combining traditional technologies with Web3 innovations, Sorted empowers those with limited access to the financial system, promoting a more equitable economy.
Hemi Labs
Hemi Labs raised $15 million in a seed round with participation from Binance Labs Fund, Breyer Capital, Big Brain Holdings*, Crypto.com Capital, Web3com Ventures, HyperChain Capital, Alchemy Ventures, SALT fund, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC Inc, Artichoke Capital, Cypher Capital, SNZ Holding, Impossible Finance, UTXO Management, Jihan Wu, and George Burke.
Hemi Network is a modular second-layer protocol designed to enhance scalability, security, and interoperability between Bitcoin and Ethereum. It is powered by the Hemi Virtual Machine (hVM) and the Hemi Bitcoin Toolkit (hBK), enabling seamless integration of cross-chain dApps with Bitcoin and Ethereum. With innovative features such as PoP consensus and trustless cross-chain portability, Hemi allows developers to leverage the combined strengths of the Bitcoin and Ethereum networks to unlock new potential in decentralized applications.
TrueX
TrueX raised $9 million in a seed round from RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, Aptos Network, and others.
TrueX is a non-custodial, stablecoin-native cryptocurrency exchange that provides advanced trading technology for modern traders. Through its proprietary matching engine and stablecoin settlement (PYUSD), TrueX ensures secure and efficient trading. The platform utilizes external custodians such as Paxos Custody for asset protection and provides advanced APIs for customizable trading strategies. TrueX provides market and liquidity services globally and is designed for traders seeking strong liquidity, seamless trade execution and high security.
Cudis
Cudis raised $5 million in a seed round from Draper Associates*, SkyBridge Capital, Penrose Tech, SNZ Holding, Mozaik Capital, NGC Ventures (NEO Global Capital), Foresight Ventures, MonkeVentures, Draper Dragon, Block Patch, Trinito and others.
CUDIS is a Web3 AI health company that has developed a smart ring to monitor health indicators, enabling users to access and own their own health data through the Solana blockchain. By integrating AI, users can also get personalized health advice from AI coaches. CUDIS promotes a healthy lifestyle while enabling users to earn passive rewards through data monetization, creating a decentralized and user-centric approach to health tracking.
Yellow Network
Yellow Network raised $10 million in a seed round from ConsenSys, GSR Markets LTD, NxGen, Master Ventures, Gate Labs, ZBS Capital, Moonrock Capital, Math Wallet, Cobo, NOIA Capital, LD Capital and others.
Yellow is a blockchain product and infrastructure company, while Moonrock Capital is a blockchain advisory and investment firm. Yellow Network is a new Financial Information Exchange (FIE) network that allows direct P2P trading between any blockchain and exchange brokers, aiming to interconnect the blockchain industry and solve the problem of cryptocurrency liquidity fragmentation, using proven traditional financial strategies.
0xAstra
0xAstra raised $3 million in a seed round from Animoca Brands, Skyland Ventures, Folius Ventures, Ultiverse, Orbiter Finance, Redpoint and others. 0xAstra is a cross-chain strategy (SLG) game where players can build, expand and defend their cosmic home. Players use tactical strategies to dominate the galaxy through space exploration, resource management and interstellar conquest. By leveraging cross-chain technology, 0xAstra enables seamless cross-chain interaction and asset management, ensuring a smooth gaming experience on multiple blockchains. Players can form alliances, battle opponents and explore the vast universe in a decentralized environment while unlocking unique game assets.
Fermah
Fermah raised $5.2 million in a seed round from a16z Crypto Startup Accelerator (CSX), Lemniscap, Bankless Ventures, LongHash Ventures, P-OPS Team, Public Works, Zero Knowledge Validator (ZKV), LambdaClass, Daedalus, Zero Dao, Velocity Capital, Balaji Srinivasan, Sandeep Nailwal, Daemon Ventures, and others.
Fermah is a general-purpose zero-knowledge (ZK) proof generation layer that operates as a marketplace. It connects the supply side consisting of GPUs and FPGAs with the demand side to provide ZK proof generation services for various use cases such as ZK rollups, bridging, and privacy-preserving applications. Fermah aims to provide a reliable and cost-effective infrastructure that enables projects to efficiently generate ZK proofs while leveraging decentralized computing power.
Limitless
Limitless raised $3 million in a pre-seed round of funding from 1confirmation*, Collider Ventures, Paper Ventures, Public Works and others.
Limitless is a decentralized social prediction protocol that allows creators to easily configure prediction markets and share them with their community. Users can trade on the outcomes of real-world events, earn fees, and make predictions. The platform uses price feeds to solve daily markets, similar to binary options or 0DTE options. Limitless combines community participation with decentralized finance to provide a seamless, low-cost prediction market experience.
MagicBlock
MagicBlock raised $3 million in a pre-seed round of funding from a16z Crypto Startup Accelerator (CSX).
MagicBlock is a high-performance engine built on Solana that aims to accelerate the development of decentralized and unstoppable on-chain games and consumer applications. Through Ephemeral Rollups, MagicBlock introduces a new infrastructure that enhances Solana's scalability without fragmenting its state. Developers can use MagicBlock to build fully on-chain games and applications that are trustless, permissionless, and can persist without a central server.
Filament Finance
Filament Finance raised $1.1 million in a seed round from Lingfeng Innovation Fund (LIF)*, Halo Capital, Spyre Group, Polygon, Router Protocol, Chorus One, Archerman Capital, CoinBureau, Stakecito and others.
Filament is a decentralized perpetual exchange (Perp DEX) that uses a hybrid model that combines off-chain order books with on-chain liquidity pools. Designed to address issues such as low liquidity and capital inefficiency in niche markets, Filament optimizes liquidity provision and trading across a wide range of assets through dynamic liquidity pools, strategic funding rates, and stablecoin usage. The platform aims to enhance the decentralized financial sector through more efficient perpetual trading.
Rise Labs
Rise Labs raised $3.2 million in a seed round from Finality Capital*, Orange DAO, Digital Asset Capital Management (DACM), ether fi, P2 Ventures (Polygon Ventures), MH Ventures, Public Works, Alex Svanevik, Vitalik Buterin, Stani Kulechov, Sandeep Nailwal, DCF God, Scott Moore, Sam Kazemian, Anthony Sassano, and others.
RISE is a Layer 2 platform that aims to revolutionize blockchain scalability at a rate of over 100,000 transactions per second. RISE aims to realize the vision of Ethereum, providing near-instant and low-cost transactions while maintaining decentralization and security. Its architecture is based on Rust infrastructure and parallel Ethereum Virtual Machine (EVM) execution, surpassing the current Ethereum Layer 2 solution and unlocking new possibilities for blockchain applications.
Other investment rounds
SolanaFM
SolanaFM raised an undisclosed amount in a merger funding round with Jupiter.
SolanaFM is a Solana blockchain explorer and index provider.
Coinhall
Coinhall raised an undisclosed amount in a merger funding round with Jupiter.
Coinhall is a leading cross-chain trading terminal that provides traders with real-time price charts, liquidity analysis and aggregated swaps on multiple decentralized exchanges (AMM DEXes) on supported networks such as Terra, Juno, Near and Cosmos. It is designed for both beginners and professional traders, providing a user-friendly interface with advanced data visualization powered by TradingView.
Chaos Labs
Chaos Labs raised an undisclosed amount in a funding round from PayPal Ventures.
Chaos Labs is a highly automated DeFi protocol economic security and risk management platform. Chaos Labs' tools allow core teams and community members to better monitor protocol health and risks in real time so that mainnet changes can be executed before potential vulnerabilities are exploited.
Name tag
Nametag raised an undisclosed amount in a merger and acquisition funding round with Mask Network.
Nametag is a decentralized identity platform that enables users to own and manage their own digital identities. By using the Nametag web browser extension, users can showcase digital collectibles, achievements, and social credentials (Nokens) on platforms such as YouTube, Twitter, and Discord. Nokens reflect users' online behavior such as game rankings, assets, and community engagement. Nametag opens up new forms of interaction by allowing individuals to create dynamic profiles that showcase their online presence and verified achievements.
Drift Protocol
Drift Protocol has raised $25 million in a Series B funding round with participation from Multicoin Capital*, Blockchain Capital, Folius Ventures, and Primitive.
Drift Protocol is a Solana-based decentralized exchange focused on spot trading, perpetual futures, and token swaps, with a focus on capital efficiency and asset protection. It has a cross-margin risk engine, instant auction liquidity, on-chain perpetual and spot order books, and a decentralized order book (DLOB) to enhance liquidity.
Helius
Helius raised $21.8 million in a Series B round with participation from HAUN Ventures, Founders Fund, Foundation Capital, 6th Man Ventures (6MV), Chapter One, and Spearhead.
Helius provides Solana RPC (Remote Procedure Call) powered by top-tier hardware, providing reliable and optimized performance for applications. With global coverage, dedicated nodes, Geyser plugins, and excellent 24/7 developer support, Helius ensures a seamless experience for users, including traders, bot developers, and exchanges, with advanced options.
Apts
Aptos raised an undisclosed amount in a funding round from Foresight Ventures.
Aptos is a layer 1 blockchain whose mission is to help people achieve universal and equitable access to decentralized assets in a secure and scalable manner.
Old
Vana raised $5 million in a strategic funding round with participation from Coinbase Ventures, MH Ventures, Manifold, GSR Markets LTD, DeFiance Capital, Auros Global, and Box Group.
Vana is building a decentralized network of user-owned data pools that enable individuals to monetize their personal data. Vana focuses on bridging blockchain and artificial intelligence, and its DAO allows members to collect data from platforms such as Reddit, LinkedIn, and X. These data pools are sold to AI researchers, providing users with a new source of income.
Veil
Velo raised an undisclosed amount in a funding round from UOB Venture Management.
Velo Labs is a blockchain infrastructure company focused on developing the first compliance-first global settlement network to enable fast, secure, and cost-effective cross-border payments.
Stream Finance
Amnis Finance raised $2 million in a funding round from investors including OKX Ventures (formerly OKEx Blockdream Ventures), Borderless Capital, Aptos Labs, SkyVision Capital, Chorus One, Old Fashion Research (OFR), Re7 Capital, Flowdesk, Gate Ventures, Ambush Capital, ArkGrow, Valhalla Capital, and Stealth Capital.
Amnis Finance is a liquidity staking protocol built on the Aptos blockchain that enables users to maximize returns on their APT tokens while maintaining liquidity. Through an innovative liquidity staking mechanism, Amnis allows users to earn staking rewards while still using their staked tokens for trading or other investments. In addition, Amnis has introduced yield tokenization, splitting the staked assets into principal and yield components, providing flexibility for formulating financial strategies.
SunDog
SunDog raised an undisclosed amount in a round provided by SunPump.
SUNDOG is a meme token based on the TRON blockchain, inspired by dog memes, designed to bring fun and positive energy to the cryptocurrency community. SUNDOG is released on the SunPump platform, aiming to engage TRON community members through lighthearted meme content and provide them with opportunities to participate within the ecosystem. SUNDOG represents a canine character that is both playful and serious, bringing "sunshine" and fun to users in the TRON network.
Forge
Forge raised an undisclosed amount in a round led by investors including Ava Labs, Sui Network, dingaling, and Chris Wang.
Forge is a Web3 video game platform that allows players to consolidate their gaming achievements and activities into a single profile and provide rewards for their participation. The platform connects gamers, provides a unified gaming profile, and integrates blockchain technology to provide a social and rewarding gaming experience.
Permissionless Labs（Pipe Network）
Permissionless Labs (Pipe Network) has raised $10 million in funding in a round led by Multicoin Capital*.
Pipe Network is an incentivized Internet infrastructure project based on blockchain technology that aims to revolutionize content delivery networks (CDNs) through blockchain technology. It allows users to contribute their computing power to expand CDN nodes and improve content delivery. By leveraging cryptocurrency incentives, Pipe plans to increase the speed and efficiency of data transmission and reduce latency caused by geographical distance. The project is built on the Solana blockchain and is expected to launch its testnet at the Breakpoint conference in Singapore.
LogX
LogX raised $4 million in a strategic funding round from investors including Hashed Emergent, Cumberland (DRW), Gate Labs, Saison Capital, DWF Ventures, Antler, CoinSwitch, WAGMI Ventures, and Kairos Capital.
LogX is a liquidity solution for perpetual trading on Layer 2 blockchains. By aggregating liquidity across multiple blockchains, LogX provides users with a seamless trading experience, eliminating the need to manage gas tokens or conduct multiple trades per transaction. The platform serves professional traders and institutions with deep liquidity pools, allowing them to trade with high leverage easily and efficiently. LogX is designed to provide trading capabilities to fit into a decentralized ecosystem while maintaining low fees and high-speed performance.
AmbrusStudio（E4C: Final Salvation）
AmbrusStudio (E4C: Final Salvation) has raised an undisclosed amount in a Series A funding round from investors including The Spartan Group*, Infinity Ventures Crypto (IVC), Sui Foundation, Goodwater Capital, and Zee Prime Capital.
E4C: Final Salvation aims to be the first mobile MOBA game in the Web3 gaming space to integrate esports into the gameplay and is created by Ambrus Studio.
