整理: Luan Peng, RootData
According to incomplete statistics from RootData, there were 30 public financing events in the blockchain and cryptocurrency industry from December 9 to December 15, 2024, with total funding of approximately $357 million.
In terms of track distribution, the funded projects are mainly distributed across infrastructure and DeFi tracks. Popular projects include AI data layer protocol Glacier Network, decentralized lending protocol Yei Finance, Bitcoin trading app Relai, and blockchain development company ProvLabs.
Moreover, the Avalanche Foundation announced that it raised $250 million for its blockchain platform through a private token sale, with Galaxy Digital, Dragonfly, and ParaFi Capital participating alongside more than 40 other companies.
(List of projects with funding greater than $5 million last week, data source: Rootdata)
I. Infrastructure
AI data layer protocol Glacier Network completed approximately $4.2 million in fundraising through Fjord Foundry.
AI data layer protocol Glacier Network announced via X platform that it has completed approximately $4.2 million in public sale fundraising through Fjord Foundry.
Moreover, Glacier Network also announced that 10% of the total supply of GLS tokens has been allocated, with the expected launch date for tokens on CEX and DEX being December 18.
MegaETH developer MegaLabs completes $10 million in funding through the Echo platform.
According to The Block, MegaETH developer MegaLabs completed $10 million in funding through the Echo platform. MegaLabs co-founder Shuyao Kong stated that the structure of this round of financing is equity plus token warrants, similar to MegaLabs' $20 million seed round in June. Additionally, both rounds of financing were valued at "hundreds of millions of dollars."
Smart contract platform Waterfall Network has completed $11.6 million in funding, with participation from Bolt's Capital and others.
According to IBTimes, smart contract platform Waterfall Network announced completion of $11.6 million in a new round of funding, with participation from Bolt's Capital, Alpha Token Capital, and Enflux. The funds will be used to strengthen the platform's infrastructure, simplify nodes, and further improve its services.
Waterfall Protocol, set to launch in July 2024, is a Layer 1, scalable, decentralized smart contract platform developed by software company BlueWave based on DAG technology and rapid finality PoS consensus. It is compatible with the Ethereum Virtual Machine (EVM).
Avalanche completed $250 million in funding, with participation from Galaxy Digital and others.
The Avalanche Foundation announced that it raised $250 million for its blockchain platform through a private token sale, with Galaxy Digital, Dragonfly, and ParaFi Capital joining over 40 other companies.
It is reported that Avalanche raised $230 million through a similar token sale in December 2021.
Stablecoin payment company Sphere has completed $5 million in funding, led by Coinbase and Kraken.
According to Forbes, stablecoin payment company Sphere completed $5 million in funding led by Coinbase Ventures and Kraken Ventures. The company was founded by Arnold Lee and Luigi Charles in 2022, aiming to build a "crypto version of Stripe."
According to RootData, Sphere is a payment infrastructure that helps merchants from underdeveloped emerging markets obtain cost-effective, secure, and nearly instant cross-border payments through stablecoins. Through a visually appealing and easily accessible graphical user interface (GUI), Sphere coordinates blockchain, custodial infrastructure, and financial service providers for stablecoin payments.
DePIN project Soarchain has announced completion of $4.5 million in funding, with participation from Alpha Ventures and others.
DePIN project Soarchain has announced completion of $4.5 million in funding, with participation from Taisu Ventures, BlockBuilders, Hyperithm, Plug and Play, Alpha Ventures, and others.
It is reported that Soarchain is built on Cosmos SDK and is a sovereign application chain that provides token incentives and data connectivity infrastructure for vehicles. The platform enables vehicles to contribute anonymously and privately to the vehicle network while maximizing their benefits by utilizing applications running on the network—and simultaneously earning rewards. Developers and data consumers use car owner-generated automotive data to create applications and services on a reliable, open platform, thereby reducing the costs of providing better goods and services to users.
DeFi protocol Spicenet has completed a $3.4 million seed funding round, led by Hack VC and others.
According to official news, DeFi protocol Spicenet announced completion of a $3.4 million seed funding round, co-led by Hack VC and Magnus Capital, with participation from TPC Ventures, Public Works, WAGMI Ventures, DoraHacks, P-OPS Team, The Rollup Ventures, and several angel investors.
According to reports, Spicenet is a unified, composable liquidity layer, built on top of Celestia. The protocol integrates solutions and market makers into one network and allows two forms of liquidity from other chains without bridging assets to Spicenet, with its unified margin system enhancing capital efficiency. Spicenet is set to launch its private testnet, with final bug fixes ongoing.
Blockchain startup Commonware completed $9 million in funding, co-led by Haun Ventures and Dragonfly Capital.
Blockchain startup Commonware has completed $9 million in funding, co-led by Haun Ventures and Dragonfly Capital, and has also received funding from numerous notable cryptocurrency developers, including Smokey the Bera from BeraChain, Zaki Manian from Cosmos, Sreeram Kannan from EigenLayer, Dan Romero from Farcaster, and Mert Mumtaz from Helius.
Commonware is building an open, Rust-based blockchain framework specifically designed for high throughput, ease of modification, and embedded interoperability. Like the Cosmos-SDK, the Commonware framework will enable developers to launch their own blockchains.
Binance Labs announces investment in stablecoin infrastructure protocol Perena.
Binance Labs announced investment in Perena's core development team, Quine Co., supporting its establishment of stablecoin infrastructure protocols on Solana. The investment from Binance Labs will support the Perena team in scaling, developing a global community, and building a comprehensive suite of stablecoin products on Solana.
Perena aims to construct a more decentralized, efficient, and accessible financial system by combining DeFi innovations with traditional finance principles.
Perena recently launched Numéraire, a weighted multi-token scalable stablecoin exchange protocol (stableswap) that does not require actively managed centralized liquidity market makers (CLMM), significantly reducing the capital requirements for new stablecoin issuance. Crypto AI startup Exabits completed a $15 million seed funding round, led by Hack VC.
Crypto AI startup Exabits completed a $15 million seed funding round, led by Hack VC.
Crypto AI startup Exabits completed a $15 million seed funding round, valued at $150 million, led by Hack VC. This funding brings Exabits' total funding to $20 million.
Exabits co-founder Hoansoo Lee stated that Exabits began fundraising in July this year and completed this round in October, with plans to launch a token in the future.
Exabits tokenizes GPUs, aiming to decentralize computing. Exabits' tokenization model provides direct investment into GPU computing assets, creating a liquid market.
The Interchain Foundation acquires blockchain solution provider Skip Protocol.
The Interchain Foundation acquires blockchain solution provider Skip Protocol.
The Interchain Foundation (ICF) is a Swiss non-profit organization dedicated to promoting interoperability and sustainable development within the Cosmos ecosystem. This strategic acquisition brings Skip's expertise in products, engineering, and overall coordination with ecosystems and communities into ICF.
After the acquisition, Skip will be renamed Interchain Inc., becoming a subsidiary of ICF, led by Skip co-founders Barry Plunkett and Maghnus Mareneck, responsible for leading the foundation's product, protocol, and strategic development. Its main goal is to promote the development of cross-chain native companies and developers, attract new users and capital liquidity, and drive technological achievements to enhance the competitiveness of the Interchain Stack.
Hong Kong-listed company Boya Interactive strategically invests in BounceBit.
BounceBit announced on X that Hong Kong-listed company Boya Interactive has made a strategic investment in it.
According to RootData, BounceBit is building a BTC re-staking infrastructure to provide a foundational layer for different re-staking products, secured by regulatory custodians from Mainnet Digital and Ceffu. BounceBit Chain is designed as a showcase for re-staking products within the BounceBit ecosystem, operating as a PoS Layer 1, with validators staking BTC and BounceBit's native token for protection—this is a dual-token system that leverages native Bitcoin security and is fully compatible with EVM.
Web3 AI cloud startup Hyperbolic completed a $12 million Series A funding round, led by Variant and Polychain Capital.
Web3 AI cloud startup Hyperbolic announces completion of a $12 million Series A funding round, led by Variant and Polychain Capital, with participation from Chapter One, Lightspeed Faction, Bankless Ventures, GSR, IOSG, Vertex, Blockchain Builders Fund, Wintermute, Alumni Ventures, 10K Ventures, Ambush Capital, and multiple angel investors. With this investment, Hyperbolic has raised a total of $20 million.
The new funds will be used to expand the engineering and strategic teams and enter the market. Hyperbolic plans to launch its own blockchain next year. The company aims to provide verifiable, secure, and reliable AI services by integrating global GPU computing resources with blockchain technology, effectively addressing the industry's pain points of high computing resource costs and uneven distribution. The company also launched a decentralized orchestration layer Hyper-dOS (Hyperbolic Distributed Operating System) to provide strong technical support for the entire GPU market.
Mandala Chain has completed a $1 million Pre-Seed funding round, led by Harbour Industrial Capital.
Blockchain Mandala Chain has completed a $1 million Pre-Seed funding round, led by Harbour Industrial Capital, with participation from O-DE Capital, NLS Ventures, and strategic partners in the Polkadot ecosystem. This funding will allow Mandala Chain to scale its business, establish strategic partnerships, and expand its influence in emerging markets.
Mandala Chain focuses on deploying practical use cases, aiming to drive meaningful adoption of blockchain technology, starting in Indonesia.
II. DeFi
Sei ecosystem lending protocol Yei Finance has completed a $2 million seed funding round, led by Manifold.
According to official news, decentralized lending protocol Yei Finance has announced completion of a $2 million seed funding round, led by Manifold, with participation from DWF Ventures, Kronos Research, Outlier Ventures, Side Door Ventures, and WOO.
According to Web3 asset data platform RootData, Yei Finance is a money market on the Sei network. Yei Finance offers a rich investment opportunity with extensive asset coverage, a comprehensive risk framework, and meticulous token access.
The decentralized derivatives protocol Symmio has completed a $3.1 million financing round, with participation from Spartan Group and others.
According to a press release, decentralized derivatives protocol Symmio announced completion of $3.1 million in funding, with investment institutions such as Spartan Group, Orbs, MCLB, and Blockchain Founders Fund investing approximately $2.1 million, with early investors including MS2 Capital, GMoney, and Prime Ventures.
Symmio is an intent-centered derivatives clearing layer designed to address liquidity and fragmentation issues in DeFi, currently supporting four networks: Arbitrum, Base, BSC, and Mantle. The project disclosed plans to launch the token TGE on December 16, with initial liquidity provided through the SYMM/ETH trading pair on Aerodrome Finance.
DeFi platform Step Finance has acquired stock tokenization company Moose Capital.
DeFi platform Step Finance has acquired early-stage startup Moose Capital, which specializes in traditional stock tokenization, aiming to allow users to buy and sell stocks of companies like Nvidia and Tesla directly on the Solana blockchain.
In addition to acquiring Moose Capital's products (planned to be renamed Remora Markets), Step Finance has also absorbed the startup's team and regulatory licenses in preparation for an IPO in the first quarter of 2025.
Step Finance aims to become the portfolio management tool and analytics hub for Solana users. It also has a media company focused on the NFT market, SolanaFloor, and a global event project, Solana Allstars, active in over 50 cities.
Tokenized uranium mining company Uranium Digital has completed $1.7 million in funding, led by Portal Ventures.
Tokenized uranium mining company Uranium Digital has completed $1.7 million in funding, led by Portal Ventures.
Uranium Digital is a startup that tokenizes uranium ore to trade in the strictly regulated metal market in new ways.
Uranium Digital founder Alex Dolesky stated that he realized early in his trading career that uranium, as a commodity, was far less developed in the market compared to gold, silver, and other metals. Due to strict regulations, uranium is traded only through over-the-counter (OTC) markets dominated by institutional traders, making the trading process opaque and inaccessible to retail investors. Uranium trading is still in its early stages, and a financialized market needs to be established first.
On-chain yield market Superform has completed $3 million in funding, led by VanEck Ventures.
On-chain yield market Superform has completed $3 million in funding, led by VanEck Ventures, with participation from Polychain Capital, CMT Digital, Amber Group, Node Ventures, BlockTower Capital, Heartcore Capital, Maven11 Capital, and UpTop Capital. The company raised $6.5 million in a seed funding round in November 2022, bringing Superform Labs' total funding to $9.5 million.
This funding round will enable Superform to expand its product range and launch SuperUSDC on Ethereum, facilitating team growth.
According to RootData, Superform is a full-chain yield market. The protocol aggregates vaults, routes assets, and executes transactions within the EVM network. It also acts as an instant distribution platform for ERC-4626 vaults.
Synthetix announces acquisition of leveraged token platform TLX.
Synthetix announces acquisition of leveraged token platform TLX.
Synthetix is currently reviewing and auditing all TLX products. Synthetix plans to complete a comprehensive review in the coming weeks, implement parameter improvements, and redeploy all contracts.
Lending platform Neptune Protocol has completed a $3.9 million seed funding round with participation from Bloccelerate and others.
Decentralized lending platform Neptune Protocol has completed a $3.9 million seed funding round, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, Optic Capital, and Relayer Capital, as well as notable angel investors Meltem Demirors, Kartik Talwar, Mike Silagadze, Alan Curtis, and Ben Lakoff. These funds will be used to develop and launch USDN, fund comprehensive security audits to strengthen the protocol, and support team expansion.
Neptune Protocol is a decentralized lending platform built for the Eclipse ecosystem. It enables users to securely unlock liquidity from their collateral without selling their underlying assets, thus improving capital efficiency.
Automated market maker SmarDex raised $4.5 million in a public seed round.
Automated market maker SmarDex raised $4.5 million in a public seed round, and the platform also received a total of $12 million in funding support from Swiss Web3 pioneer RA2 TECH.
It is reported that SmarDex will launch the synthetic dollar token USDN, supported by a fully decentralized Ethereum perpetual contract, ensuring that USDN remains pegged to the value of $1.
Additionally, Web3 asset data platform RootData shows that SmarDex is an automated market maker (AMM) that addresses impermanent loss (IL) issues and, in some cases, converts them into impermanent gains (IG). It is an open-source smart contract that operates as decentralized software on compatible Ethereum Virtual Machine blockchains (such as Ethereum, Binance Smart Chain, Avalanche, Polygon, etc.). These blockchains act as data exchange protocols, similar to the Bitcoin blockchain, allowing for the storage and transmission of information in a public, immutable, and decentralized manner. By using SMARDEX, users can swap decentralized ERC20 tokens, i.e., digital assets.
III. Games
The decentralized trading card game Fantasy completed a $4.25 million seed funding round, led by Dragonfly.
Powered by Blast, the decentralized trading card game Fantasy has announced completion of $4.25 million in seed funding, led by Dragonfly, with participation from Manifold Ventures; the new funds will be used to improve the Fantasy product.
IV. Wallet
Bitcoin trading app Relai has completed a $12 million Series A funding round, led by Ego Death Capital.
Bitcoin trading app Relai has completed a $12 million Series A funding round, led by Ego Death Capital, with participation from Plan B Bitcoin Fund, Timechain, and Solit Group. Relai plans to use the new funding to further expand into Europe and obtain licenses under the new crypto asset market framework (MICA).
Relai co-founder and CEO Julian Liniger stated, "Despite adverse market conditions, our funding round was oversubscribed. This new funding will greatly accelerate our growth and support our mission to educate and onboard millions of Europeans into Bitcoin."
According to RootData, Relai is an app that only offers Bitcoin, accompanied by a non-custodial Bitcoin wallet, dedicated to making Bitcoin saving and investment accessible to everyone, allowing anyone to buy and sell Bitcoin in minutes without registration, verification, or deposits.
V. Others
Tokenized data platform Inveniam has received investment from UAE AI company G42.
UAE AI company G42 has made an undisclosed investment in tokenized data platform Inveniam, having raised over $120 million to date. G42 has 25,000 employees across seven AI subsidiaries, with operations in sectors such as energy, health, and data centers.
Inveniam officially announced in 2021 that it had secured $25 million in Series A funding led by fund management company Apex, with Cushman & Wakefield participating. Inveniam's system uses DLT to provide data sources for pricing calculations, most of which may come from artificial intelligence, and data access is permissioned. It also utilizes privacy technology to enable institutions to share data without exposing sensitive information. Inveniam uses the technology of tokenized startup Tokeny.
Inveniam CEO Patrick O'Meara stated, "We are collaboratively building a system that allows for the sharing, analysis, pricing, and trading of private market assets while ensuring that sensitive source business data remains protected and controlled by its owners."
Solana-based tokenization platform AgriDex has completed a $4 million strategic funding round, bringing total funding to $9 million.
According to The Block, Solana-based tokenization platform AgriDex has completed a $4 million strategic funding round, led by Portal Ventures, with participation from Endeavour Ventures, Hawkwood Capital, HU Investments, FS Ventures, and Sycamore Gap Management Ltd. Company. Angel investors such as Tobechi Bolanle Taiwo from Palantir and Anna Yuan from Perena also participated in this funding round. Previously, AgriDex completed $5 million in pre-seed funding, bringing its total funding to $9 million.
With a new round of funding support, AgriDex plans to tokenize and process $4.5 billion in unfinished trade commitments from partners such as Future Farms, Oldenburg, and Parrogate Group. The platform also plans to expand its coverage to tokenize and trade new commodities such as West African cocoa and Eastern European wheat.
Additionally, Web3 asset data platform RootData shows that Agridex is an RWA market based on Solana, reshaping the global agriculture industry. It provides participants in the agriculture sector with a transparent, integrated market with its own internal economy, utilizing on-chain fiat currency, smart contracts, and participative review, AgriDex offers fully compliant, streamlined solutions for agricultural supply chain management.
Stablecoin payment platform KAST completed a $10 million seed funding round, led by Peak XV and HongShan.
According to Techcrunch, the stablecoin payment platform KAST has completed a $10 million seed funding round led jointly by HongShan and Peak XV, which is a spin-off from Sequoia.
KAST is a stablecoin-based quasi-bank platform that supports users holding and using stablecoins through traditional payment channels, and offers credit card services usable in standard merchant networks, allowing users to spend their stablecoin assets at merchants that do not support cryptocurrency payments.
The platform was co-founded by Raagulan Pathy, former head of Circle Asia-Pacific, and Daniel Bertoli, former partner at Quona Capital, primarily targeting users in emerging markets, especially offshore workers. KAST reduces cross-border payment costs by bypassing traditional banking networks, and is currently not operational in China and India due to regulatory restrictions. DST Global and Goodwater Capital partners participated in this round.
Blockchain development company ProvLabs has completed a seed funding round, led by Morgan Creek Digital and GateCap Ventures.
According to PRNewswire, blockchain development company ProvLabs, providing infrastructure technology solutions, has announced completion of a seed funding round led by Morgan Creek Digital and GateCap Ventures, with participation from Animoca Brands, BlockChange Ventures, CMT Digital, Medalist Partners, Serengeti Asset Management, The Operating Group, Thirdstream Partners, and Walden Bridge Capital; specific funding amounts and valuation information have not been disclosed.
The new funds are intended to expand products and services that support RWA, including Provenance Blockchain and others.
Previously, Provenance announced the establishment of the SaaS and blockchain development company ProvLabs, providing the capability to operate on Provenance for financial institutions, service providers, platforms, and DeFi applications.
