According to incomplete statistics from CoinVoice, there were more than 27 publicly announced financing events in the blockchain sector this week (November 9-13), with nine events involving financing of over $10 million, including Avalanche Foundation's $250 million raised through private token sales for its blockchain platform, making it the largest financing event of the week. Other popular projects include Web3 AI cloud startup Hyperbolic, RWA protocol Prosper, and Solana-based tokenization platform AgriDex. In the segmented investment and financing tracks, AI and infrastructure sectors were particularly hot this week. Below is a summary of the financing events this week.
Superform Labs completed $3 million strategic round financing, led by VanEck Ventures
Cryptocurrency investment application development company Superform Labs announced the completion of $3 million strategic round financing, led by VanEck Ventures, with participation from Polychain Capital, CMT Digital, Amber Group, Node Ventures, BlockTower Capital, Heartcore Capital, Maven11 Capital, and UpTop Capital. So far, its total financing has reached $9.5 million.
Superform is a permissionless cross-chain yield market that allows DeFi protocols to list their vaults or asset pools, where crypto users can deposit funds into these vaults and earn yields (chainwire)
Decentralized trading card game Fantasy completed $4.25 million in seed round financing
Decentralized trading card game Fantasy, powered by Blast, announced the completion of $4.25 million in seed round financing, led by Dragonfly, with participation from Manifold Ventures. The new funds will be used to improve Fantasy products.
Solana-based tokenization platform AgriDex completed $4 million strategic round financing
Solana-based tokenization platform AgriDex completed $4 million strategic round financing, led by Portal Ventures, with participation from Endeavour Ventures, Hawkwood Capital, HU Investments, FS Ventures, and Sycamore Gap Management Ltd. Company. Angel investors also participated in this round, including Tobechi Bolanle Taiwo from Palantir and Anna Yuan from Perena.
It is reported that AgriDex plans to tokenize $4.5 billion in trade commitments and expand into new commodities such as cocoa in West Africa and wheat in Eastern Europe. Previously, the platform has tokenized agricultural products such as wine, olive oil, coffee, and livestock. As a London-based agricultural product tokenization platform, AgriDex provides direct trading channels through NFTs, ensuring transaction transparency and supporting compliance controls, quality checks, and commodity tracking.
Fantasy.top completed $4.25 million seed round financing, led by Dragonfly
Decentralized card game Fantasy.top based on Blast announced the launch of the platform's second version Fantasy V2, while completing $4.25 million in seed round financing. This round was led by Dragonfly, with Manifold Ventures participating. The financing will be used to enhance Fantasy's core products: card trading games and virtual betting. (The Block)
Decentralized derivatives protocol Symmio completed $3.1 million financing, with participation from Spartan Group and others
Decentralized derivatives protocol Symmio announced that it has completed $3.1 million in financing, with approximately $2.1 million invested by institutions such as Spartan Group, Orbs, MCLB, and Blockchain Founders Fund; MS2 Capital, GMoney, and Prime Ventures are early investors in the company.
Symmio is an intention-centered derivatives clearing layer aimed at solving DeFi's liquidity and fragmentation issues, currently supporting four networks: Arbitrum, Base, BSC, and Mantle. The project revealed plans to launch a token TGE on December 16 to introduce the token on the Base blockchain, with initial liquidity provided via the SYMM/ETH trading pair on Aerodrome Finance.
Privasea, supported by Binance Labs, completed a new round of financing
Privasea, supported by Binance Labs, completed a new round of financing with participation from Lunar Labs Capital; the specific investment amount has not yet been disclosed. Privasea previously also received investments from OKX Ventures to support its construction of AI-driven FHEML solutions, providing scalable computing resources for AI tasks through a decentralized computing network.
Solana ecosystem institutional-grade spot trading service Uranium Capital completed $1.7 million Pre-Seed round financing
Solana ecosystem institutional-grade spot trading service Uranium Capital announced the completion of $1.7 million Pre-Seed round financing, led by Portal Ventures, with participation from Framework Ventures, Karatage, Santiago R Santos, YanoMarc Weinstein, and Nansen CEO Alex Svanevik. The new funds are intended to support seamless transactions in under-financialized and highly regulated industries, allowing licensed buyers to settle physically, ensuring accessibility and regulatory compliance.
Prosper purchased 7,000 ASIC miners from Bitmain and completed strategic financing
RWA protocol Prosper announced the procurement of 7,000 ASIC miners from Bitmain and completed strategic financing with participation from Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol; specific financing amounts have not yet been disclosed.
Perena completed $3 million Pre-Seed round financing, led by Borderless Capital
Perena, founded by Anna Yuan, former head of stablecoins at the Solana Foundation, completed approximately $3 million in Pre-Seed round financing, led by Borderless Capital, with participation from Binance Labs, Primitive Ventures, ANAGRAM, Maelstrom, Breed VC, Temporal, ABCDE Labs, SevenX Ventures, Pivot Global, Miton, Graph Ventures, and others.
According to founder Anna Yuan, Perena is building a stablecoin exchange pool that allows traders to easily swap between up to seven different stablecoins—similar to what Curve's 3pool does on Ethereum. Stablecoin holders will be able to earn additional yields by lending their assets into the pool, earning more based on their risk tolerance. In addition to the mining pool infrastructure, Perena also plans to establish a 'synthetic currency', which Yuan claims will be more resilient than the fiat currencies most people hold in traditional bank accounts. This will take the form of a 'collateralized debt position' (CDP) stablecoin backed by other stablecoins—similar to what MakerDAO (now Sky) did with DAI. Perena has not finalized its design, but Anna Yuan hopes that building a CDP alongside stable exchanges will generate more 'synergies'.
Earlier news reported that Binance Labs announced an investment in Solana ecosystem stablecoin infrastructure protocol Perena.
Blockchain startup Commonware raised $9 million
Blockchain startup Commonware completed $9 million financing, co-led by Haun Ventures and Dragonfly Capital, with participation from many well-known 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 a startup dedicated to building advanced blockchain primitives that enable developers to fine-tune their networks according to their exact specifications.
Stablecoin-driven new bank KAST completed $10 million seed round financing, co-led by Peak XV and HongShan
Stablecoin-driven new bank KAST completed $10 million seed round financing, co-led by Peak XV and HongShan, with partners from DST Global and Goodwater Capital participating. KAST declined to disclose user numbers or valuation but stated that its growth in the first four months of operation has exceeded expectations. Peak XV and HongShan are Indian and Chinese investment institutions spun off from investment giant Sequoia last year.
KAST is a new bank-like platform denominated in USD, allowing customers to hold and use stablecoins through traditional payment channels. Kast also issues credit cards compatible with standard merchant networks, enabling users to use their stablecoins at merchants that do not support crypto transactions.
Co-founder Raagulan Pathy, who previously managed Circle's Asia-Pacific business, stated that many countries' banking infrastructure severely lacks cross-border capabilities. The platform aims to reduce friction in international payments by bypassing traditional banking networks.
Avalanche completed $250 million in private placement financing, with participation from Galaxy Digital and others
Avalanche Foundation announced it raised $250 million for its blockchain platform through private token sales, with participation from Galaxy Digital, Dragonfly, and ParaFi Capital, along with over 40 other companies. It is reported that this is not Avalanche's first large-scale fundraising. Back in December 2021, at the peak of the last cryptocurrency bull market, Avalanche Foundation raised $230 million in a similar token sale.
Web3 AI agent project ChainAware.ai completed a new round of financing
Web3 AI agent project ChainAware.ai announced the completion of a new round of financing, led by ChainGPT Labs, with participation from coinix; specific investment amounts and valuation information have not yet been disclosed. The new funds are intended to support its fraud detection and wallet behavior assessment predictive analytics on Ethereum, Polygon, BNB Smart Chain, and TON networks to enhance Web3 security and user engagement.
Bitcoin self-custody application Relai completed $12 million Series A financing, led by Ego Death Capital
Bitcoin self-custody application Relai announced it has completed $12 million Series A financing, led by venture capital fund Ego Death Capital, with participation from Timechain and Solit Group. So far, Relai's total financing has reached approximately $20 million, raising its valuation from $60 million (pre-investment) to $72 million (post-investment). (TheBlock)
Tokenized GPU startup Exabits completed $15 million seed round financing at a valuation of $150 million, led by Hack VC
Exabits, a crypto AI startup focused on tokenizing GPUs, completed $15 million in seed round financing at a valuation of $150 million, led by Hack VC, with several other unnamed investors participating. Co-founder Hoansoo Lee stated that Exabits began fundraising in July this year and completed the fundraising in October. He declined to comment on the structure of this round of financing, but indicated that a token will be launched in the future.
Lee stated that this seed round financing has brought Exabits' total financing amount to $20 million. Earlier this year, the company conducted an undisclosed Pre-Seed round financing, followed by an undisclosed strategic financing led by Portal Ventures, with a total of approximately $5 million raised in these two rounds.
Blockchain development company ProvLabs completed seed round financing, with participation from Animoca Brands and others
Blockchain development company ProvLabs, which provides infrastructure technology solutions, announced the completion of seed round financing, 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 financing amounts and valuation information have not yet been disclosed.
The new funds are intended to expand products and services supporting RWA, such as the Provenance Blockchain public Layer 1.
Web3 banking service provider Klickl completed $25 million Series A financing
UAE-based Web3 banking service provider Klickl International announced the completion of a $25 million Series A financing, valuing the company at $125 million. This round was co-led by Web3Port Foundation and Aptos Labs, with participation from several institutions including Summer Ventures, Heritage Horizon Capital, V2 Capital, etc. Klickl plans to launch two major projects in Q4 2024: establishing Klickl Labs in collaboration with Summer Ventures, focusing on cross-border remittance and digital payment infrastructure in high-growth markets in the Middle East and Africa; while also setting up Klickl Foundation to invest in Klickl's Web3 ecosystem. As a strategic partner, Web3Port Foundation will serve as a limited partner in Klickl Foundation's Web3 fund. Founded in 2017, Klickl is committed to building a global stablecoin ecosystem that connects digital finance with traditional finance.
BTC trading and custody application Relai completed $12 million Series A financing, led by Ego Death Capital
Switzerland-based BTC trading and custody application Relai completed $12 million Series A financing, led by Bitcoin venture capital firm Ego Death Capital, which committed to raise $4 million for this financing. Other participants include Plan B Bitcoin Fund, Timechain, and Solit Group.
It is reported that Relai plans to use the new funds to further expand into Europe and obtain MICA licensing.
Neptune Protocol completed $3.9 million seed round financing, with participation from Animoca Ventures and others
Decentralized lending platform Neptune Protocol announced it has completed $3.9 million seed round financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, and Maelstrom, as well as Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, Optic Capital, and Relayer Capital. The new funds will support the launch of Eclipse's native stablecoin USDN, fund comprehensive security audits to strengthen the protocol, and support team expansion.
Web3 AI cloud startup Hyperbolic completed $12 million Series A financing
Web3 AI cloud startup Hyperbolic announced the completion of $12 million Series A financing, led by Variant and Polychain Capital, with participation from Chapter One, Lightspeed Faction, Bankless Ventures, GSR, IOSG, Vertex, Blockchain Builders Fund, Wintermute, Alumni Ventures, Ambush Capital, and several angel investors. Through this investment, Hyperbolic has raised its total investment to $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. According to reports, Hyperbolic plans to integrate global GPU computing resources with blockchain technology to provide verifiable, secure, and reliable AI services to the market, effectively alleviating the industry's pain points of high computing resource costs and uneven distribution. Additionally, the company has launched a decentralized orchestration layer Hyper-dOS (Hyperbolic Distributed Operating System), providing solid technical support for the entire GPU market. (coinness)
Earlier in July, Hyperbolic completed $7 million in seed round financing, led by Polychain Capital and Lightspeed Faction.
Web3 communication platform Dechat completed $1 million financing, with Mindspace Solutions participating
Decentralized Web3 communication platform Dechat completed $1 million financing, with Mindspace Solutions participating; valuation information has not yet been disclosed.
The new funds are intended to support the construction of its Web3 communication protocol, allowing users to chat, explore, and trade digital assets within and across applications while utilizing blockchain technology to ensure privacy and security.
Web3 communication platform Dechat completed $1 million financing, with Mindspace Solutions participating
Decentralized Web3 communication platform Dechat completed $1 million financing, with Mindspace Solutions participating; valuation information has not yet been disclosed.
The new funds are intended to support the construction of its Web3 communication protocol, allowing users to chat, explore, and trade digital assets within and across applications while utilizing blockchain technology to ensure privacy and security.
Bitcoin lending platform Lava completed $10 million Series A financing, with participation from Khosla Ventures and others
Bitcoin lending platform Lava completed $10 million Series A financing, with participation from Khosla Ventures and Founders Fund. According to Lava founder and CEO Shehzan Maredia, the platform allows users to borrow against Bitcoin, with the slogan 'Save with Bitcoin, Spend with Dollars'.
Mandala Chain completed $1 million Pre-Seed round financing
Mandala Chain, dedicated to connecting emerging market enterprises and the retail sector, announced the completion of $1 million Pre-Seed round financing, led by Harbour Industrial Capital, with participation from O-DE Capital, NLS Ventures, etc. The new funds are intended to promote its provision of scalable real-world solutions. (financefeeds)
AI voice company WaveForms completed $40 million in seed round financing, led by a16z
AI voice startup WaveForms, founded by former OpenAI researcher Alexis Conneau, secured $40 million in seed round financing, achieving a valuation of $200 million. This round was led by Andreessen Horowitz.
It is reported that WaveForms is dedicated to developing AI audio software capable of capturing emotional cues to achieve more natural voice interactions, aiming to enhance the voice dialogue experience between humans and machines. Conneau previously developed advanced voice assistant features at OpenAI and founded WaveForms in September in San Francisco after leaving in August.
