Highlights of this issue

According to incomplete statistics from PANews, there were 18 investment financing events in the global blockchain sector last week (12.16-12.22), with a total funding scale exceeding $160 million, significantly reduced compared to the previous week. An overview is as follows:

  • Three investment financing events were announced in DeFi, with BVNK successfully raising $50 million in a full equity Series B funding round, led by the cryptocurrency-focused giant fund Haun Ventures.

  • Four investment financing events were announced in the AI field, including Fraction AI completing $6 million in Pre-Seed funding, co-led by Spartan Group and Symbolic Capital.

  • The infrastructure and tools sector announced two funding events, among which Layer-1 blockchain Plume completed a new round of financing of $20 million, with participation from Brevan Howard Digital, Haun Ventures, and others.

  • Five investment financing events were announced in other blockchain/crypto applications, including Aave developer Avara raising $31 million for Lens, led by Lightspeed Faction.

  • Three investment financing events were announced in the centralized finance sector, including Prometheum completing $20 million in financing, with funds coming from a group of undisclosed individuals and institutions.

DeFi

Stablecoin infrastructure company BVNK completes $50 million Series B funding, led by Haun Ventures

UK stablecoin infrastructure company BVNK successfully raised $50 million in a full equity Series B funding round, led by the cryptocurrency-focused giant fund Haun Ventures, with participation from Coinbase Ventures and existing investor Tiger Global. According to insiders, BVNK's valuation after this round of funding is approximately $750 million. BVNK's spokesperson declined to comment on the valuation.

It is reported that although BVNK is opening offices in San Francisco and New York and plans to launch services in the U.S. in January, it has been focused on the European and Asian markets. A key component of BVNK's value proposition is its licenses and relationships with financial institutions, which facilitate the flow of funds between different fiat currencies. BVNK holds a virtual asset service provider license in Spain, enabling it to establish partnerships with several major European banks, including Barclays, Banco Bilbao Vizcaya Argentaria (BBVA), Deutsche Bank, and Santander.

DeFi application layer Rujira announces it has completed $7 million in financing

DeFi application layer Rujira stated in its official blog: 'Rujira has successfully raised $7 million from a group of early investors who entered after the merger announcement. With this funding, we are able to execute our plans without needing additional funds at this time. In the future, if necessary, we will be able to obtain additional funds through over-the-counter transactions to further support Rujira's development. The completion of this round of financing also clears a key hurdle for the RUJI TGE, which is expected to take place in February next year. As always, this timeline is for reference only and may change.' Rujira is a DeFi application layer on THORChain, created by the Rujira alliance among Kujira, Levana, and THORChain. It combines Kujira's DeFi tools with THORChain's liquidity and cross-chain capabilities for seamless, bridge-free access to blockchain networks.

UTXO Stack completes a new round of funding with a valuation of $50 million

UTXO Stack announces completion of a new round of funding led by UTXO Management, PAKA Fund, and CMS Holdings, with a valuation of $50 million. The funds will be used to accelerate liquidity development for the Lightning Network, introduce stablecoins into the Bitcoin ecosystem, and plan to launch Bitcoin liquidity provider airdrop incentives in early January 2024, while also conducting the first token generation event (TGE) on the Lightning Network.

AI

Crypto and AI company Fraction AI completes $6 million Pre-Seed funding, led by Spartan Group and Symbolic Capital

The decentralized crypto and AI startup Fraction AI completes $6 million in Pre-Seed financing, co-led by Spartan Group and Symbolic Capital, with other investors including Borderless Capital, Anagram, Foresight Ventures, and Karatage. Additionally, angel investors such as Sandeep Nailwal, co-founder of Polygon, and Illia Polosukhin, co-founder of NEAR Protocol, have also participated and served as advisors.

Fraction AI was founded in February 2024, focused on reshaping the data labeling process through decentralization, using a hybrid approach combining human insights with AI agents. Its platform mainly includes three types of participants: stakers who earn rewards by staking ETH or liquid staking tokens (like stETH), developers who create AI agents and participate in challenges, and reviewers who participate in evaluations using the native token FRAC (assessing results based on specific criteria). Fraction AI plans to launch its mainnet and native token FRAC by the end of Q1 2025 or early Q2, and has completed closed testing, with public testing expected next month, currently having over 60,000 test users. The company is based on Ethereum development and plans to expand to NEAR and multiple Ethereum Layer 2 networks.

Decentralized AI training platform FLock completes $3 million strategic round funding, led by DCG

Decentralized AI training platform FLock announces completion of $3 million strategic round funding, with a total of $11 million raised. This round of financing was led by DCG, the parent company of Grayscale, with Lightspeed Faction following up with a round, and strategic partners like Animoca Brands, Fenbushi Capital, Gnosis VC, GSR Ventures, OKCoin Japan, Bas1s Ventures, and A41 participating. This round of financing will enable FLock to advance the democratization of AI model development and continue to build a decentralized AI training platform. FLock aims to use blockchain technology to address issues such as lack of transparency, weak data privacy, and unfair contributor rewards in traditional AI centralized systems. Through its decentralized collaborative model, data remains local and does not need to be uploaded to third parties, allowing contributors to fairly share the benefits brought by data, computing power, and feedback, giving everyone a chance to participate in AI development.

Decentralized AI agent payment protocol Skynet completes $1.2 million Pre-Seed round funding

Decentralized AI agent payment protocol Skynet completes $1.2 million Pre-Seed round funding. This round was supported by donations from well-known angel investors from GitHub, Polygon, Veracode, and Monotype. The funds will be used to develop 'The World’s Resource Blockchain', a system aimed at connecting global resources, allowing AI agents to autonomously execute payments and perform tasks across multiple platforms. The Skynet interface provides AI agents with access to resources, transaction capabilities, and integration with decentralized applications (dApps) across multiple virtual machines (VMs). Skynet's infrastructure is built on Arbitrum's Orbit chain, providing payment and tracking mechanisms. This enables AI agents to complete real-world tasks, including booking flights, managing accommodations, and handling financial portfolios.

Decentralized AI data chain Masa completes a new round of financing, led by DCG, the parent company of Grayscale

Decentralized AI data chain Masa announces completion of a new round of financing, led by DCG, the parent company of Grayscale, with participation from FBG Capital, though the specific amount has not been disclosed. It is reported that DCG participated in its seed round financing two years ago. The new funds will support the ongoing development of a customizable AI framework and the use of real-time data to expand the AI agent ecosystem.

DePIN

Solana ecosystem DePIN project Andrena receives strategic investment of $2.5 million from two VanEck funds

VanEck invests $2.5 million in decentralized autonomous wireless network DAWN, with the investment coming from VanEck's Digital Assets Alpha fund and VanEck Ventures. VanEck revealed that this strategic financing marks 'the first direct investment from multiple funds of VanEck into the same company.' Part of the $2.5 million will be used to expand retail participation through hardware, allowing users to create small networks for internet sharing and enabling DAWN to expand internationally. Andrena CEO Neil Chatterjee stated that as 5G and Starlink are rolled out, society is shifting from wired internet to fully wireless internet, and DAWN aims to leverage this 'life-changing' shift. Currently, DAWN's user base is primarily concentrated in the U.S. The team's two main goals are to achieve on-chain revenue and household users. Chatterjee declined to disclose specific data for these two metrics but noted that the team is working towards 'millions'-level targets.

Infrastructure & tools

Tokenized startup Plume completes $20 million in financing, with participation from Haun Ventures and others

A fully modular integrated Layer-1 blockchain focused on real-world asset finance (RWAfi), Plume completes a new round of financing of $20 million, with investments from Brevan Howard Digital, Haun Ventures, Lightspeed Faction, Galaxy Ventures, Superscrypt, Hashkey, Laser Digital (under Nomura Group), A Capital, 280 Capital, SV Angel, Reciprocal Ventures, bringing its total financing to $30 million. Plume will use the funds raised in this latest round to expand from crypto-native users to traditional finance companies and asset management firms. Plume focuses on RWAfi and provides a composable, EVM-compatible environment for accessing and managing various real-world assets. Plume offers an end-to-end tokenization engine and a range of partners in financial infrastructure to streamline asset access processes and achieve seamless integration of real-world assets and DeFi.

Crypto and NFT trading analysis platform DexCheck completes a new round of funding, with investment from ChainGPT Labs

Crypto and NFT trading analysis platform DexCheck announced on platform X that it has completed a new round of funding, with investment from ChainGPT Labs, though the specific investment amount and valuation data have not been disclosed. The new funds will be used to enhance its AI capabilities for token analysis, wallet analysis, tracking crypto whales, and expanding tools like InsightsGPT to help traders make informed decisions.

Others

Web3 social

Aave developer Avara raises $31 million in funding to develop Lens, led by Lightspeed Faction

Aave protocol developer Avara announces the completion of a round of funding led by Lightspeed Faction, raising $31 million. Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures participated. Additionally, angel investors involved in this round include Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson. With Lens, Avara is building a decentralized protocol that provides infrastructure for social and consumer applications. This funding news comes weeks after Lens announced its newly upgraded version, Lens v3. Lens v3 was initially built on the Polygon blockchain, utilizing consumer applications from Lens v2 including NFT creation and sharing app Zora, Twitter-like platform Hey, and community-focused app Orb. With Lens v3, the company is addressing one of the biggest challenges in web3 social experiments—transaction costs.

SocialFi project Metya completes strategic financing, led by CGV Capital

AI-driven SocialFi project Metya announces completion of strategic financing, led by investment firm CGV (Cryptogram Venture), with specific financing amounts not disclosed. This round of funding will help Metya deepen its layout in the Web3 social ecosystem, promoting product innovation and user growth. Metya is a SocialFi project that combines AI and blockchain technology, pioneering the DatingFi model, aiming to provide users with an efficient social experience without borders through decentralized networks and cross-language features. Metya has attracted over 8.5 million active users, and previously launched a smart hardware device MeAi.

Web3 content monetization platform Promeet completes $3.1 million Pre-Seed round funding

Web3 content monetization platform Promeet announces completion of $3.1 million Pre-Seed round funding, raised through SAFE (Simple Agreement for Future Equity), though the investors have not been disclosed. With the new funds, Promeet plans to expand its team, enhance platform functionality, and grow its user base. Promeet has already launched and is operational, having attracted thousands of creators. By facilitating transactions through USDC on the Polygon network, Promeet ensures creators can receive compensation quickly and securely, with lower fees compared to traditional platforms.

Consumer applications:

DuckChain completes $5 million financing, with participation from DWF Ventures

TON ecosystem consumption layer DuckChain announces successful completion of $5 million financing, with investors including DAO5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove VC, Skyland VC, Geek Cartel, Gate.io, Presto Labs, and others. Additionally, angel investors from well-known projects like CamelotDEX and Quantstamp also participated in this round of financing. DuckChain plans to leverage this funding to unlock the on-chain potential of over 30 million Telegram Star users through a TON-based EVM solution. Meanwhile, DuckChain has also launched the 'Yellow Duck Mission' hackathon, with a total prize pool of $1 million, in collaboration with Wallet, Arbitrum, and OnePiece Labs.

Decentralized environmental intelligence platform Silencio Network completes $2.5 million seed round funding

Decentralized environmental intelligence platform Silencio Network completes $2.5 million seed round funding, led by Blockchange Ventures, with participation from Borderless Capital, Master Ventures, Blockchain Founders Fund, Prosper GmbH & Co. KG, and Advanced Blockchain AG. The Silencio Network combines decentralized infrastructure with ultra-local data to transform industries such as urban planning, real estate, and hospitality. By providing street noise intelligence, the platform offers actionable insights for governments, businesses, and consumers to shape a smarter and more sustainable environment.

Centralized finance

Tokenized securities company Prometheum completes $20 million in financing

Tokenized securities company Prometheum completes $20 million in financing, with funds coming from a group of undisclosed individuals and institutions, bringing Prometheum's total fundraising to approximately $64.3 million. Prometheum has two subsidiaries. One is an alternative trading system expected to launch in Q1 2025. The other is a custody institution currently serving institutional investors, focusing on a few well-known crypto assets. The funds will be used to increase the number of crypto assets and launch upcoming security tokens. Previously, Prometheum, which had close ties with the U.S. Securities and Exchange Commission (SEC), is facing new challenges as Trump was elected president and SEC Chairman Gary Gensler announced he would step down early next year. The company's previous business model based on 'crypto assets as securities' may need to be repositioned.

Cross-border payment service provider Juicyway completes $3 million Pre-Seed round funding

Cross-border payment service provider Juicyway announces completion of $3 million Pre-Seed round funding, with participation from P1 Ventures, Ventures Platform Fund, and Future Africa. Juicyway mainly utilizes stablecoins and cryptocurrencies to simplify cross-border settlements by bypassing traditional intermediaries and reducing transaction delays. The new funds are intended to support its provision of accessible quasi-banking and crypto wallet services, facilitating seamless deposit and withdrawal services with stablecoins as a bridge, promoting instant settlements and reducing reliance on highly volatile currencies.

BitDCA completes $2 million Pre-Seed round funding for the launch of the Bitcoin savings application 'Littlebit'

Fintech innovation company BitDCA completes $2 million Pre-Seed round funding to launch a Bitcoin savings application called 'Littlebit'. The investors have not been disclosed. BitDCA, headquartered in the Czech Republic and founded in 2019, aims to simplify long-term Bitcoin investment by launching a user-friendly dollar-cost averaging (DCA) solution. The Littlebit application allows users to automatically save a certain percentage of their daily expenses as Bitcoin. The company's operational plan includes entering the Czech Republic and Poland markets in Q1 2025, followed by expansion to the UK.

Investment institutions

Big Time Studios announces the establishment of a $150 million Open Loot fund

Big Time Studios announces the establishment of a $150 million Open Loot fund, aimed at promoting game development on the Web3 gaming platform Open Loot. The fund will provide financial support, marketing, and development guidance to game studios, helping them develop high-quality crypto games. The Open Loot platform has 1.5 million registered players and supports developers in minting and distributing digital assets through SDK, rewarding players and developers with the $OL token. The platform has achieved nearly $500 million in transaction volume.

Blockchain venture capital firm Verda Ventures collaborates with Opera to launch a $40 million MiniPay fund

Blockchain venture capital firm Verda Ventures announces a partnership with browser company Opera to launch a $40 million MiniPay fund to support blockchain startups in emerging markets, with investments from Jump Crypto, Borderless Group, and Richard Parsons. Startups benefiting from the MiniPay fund will have access to Opera's MiniPay wallet framework and build financial products around it, while also integrating relevant infrastructure.

Web3 chess game company Immortal Games launches a $2 million investment fund

Web3 chess game company Immortal Games announces the launch of a $2 million investment fund to attract game guilds and Web3 game projects to its on-chain esports tournament platform Coliseum.