According to incomplete statistics from Odaily Planet Daily, there were 23 blockchain financing events announced at home and abroad from September 9 to September 15, an increase from last week's data (19). The total amount of financing disclosed was approximately US$212 million, a significant increase from last week's data (US$40.74 million).
Last week, the project that received the most investment was decentralized music streaming platform Tune.fm (US$50 million); followed by Singapore digital asset exchange SDAX (US$50 million).
The following are specific financing events (Note: 1. Sort by the amount of money announced; 2. Excludes fund raising and M&A events; 3. * indicates a "traditional" company whose business involves blockchain):
Decentralized music streaming platform Tune.fm raises $50 million, with Animoca Brands and others participating
On September 12, the decentralized music streaming platform Tune.fm announced a $50 million financing round, with participation from LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation, and GDA Capital, bringing the total financing to $80 million to date. The new funds will be used to provide liquidity for the protocol's JAM token, which is used within the platform to reward artists and users.
Singapore Digital Asset Exchange SDAX Completes USD 50 Million Series B2 Funding, MPMR Leads the Investment
On September 12, Singapore digital asset exchange SDAX completed a $50 million Series B 2 financing round, led by Muscat Precious Metals Refining Company (MPMR). SDAX plans to use this financing to launch a digital asset exchange in Oman, with the goal of expanding into the Gulf and African markets.
RWA project Huma Finance completes $38 million financing, led by Distributed Global
On September 11, Huma Finance, a company focused on tokenizing real-world assets (RWA), recently completed a $38 million financing, including $10 million in equity investment and $28 million in income-based RWA. This round of financing was led by venture capital firm Distributed Global, with participation from Hashkey Capital, Folius Ventures, Stellar Development Foundation, and TIBAS Ventures, the venture capital arm of Turkey's largest private bank İşbank. Stellar Development Foundation invested $10 million in the RWA portion, becoming the largest participant. Huma Finance plans to use the funds to expand its payment financing (PayFi) platform to the Solana blockchain and Stellar's Soroban smart contract network. The company's merger with Arf is expected to achieve $10 billion in payment financing transactions next year.
Fuse raises $12 million for renewable energy DePIN project, led by Multicoin Capital
On September 13, renewable energy company Fuse announced the completion of a $12 million strategic financing led by Multicoin Capital, bringing the company’s total financing to date to $90 million.
AI infrastructure company PIN AI completes $10 million seed round led by a16z Crypto
On September 10, Silicon Valley Web3 incubator YCubed announced that its portfolio project PIN AI has completed a $10 million seed round of financing, led by a16z Crypto. PIN AI is an AI infrastructure company that is developing the world's first open source Personal Intelligence Network (PIN), which aims to transform smartphones into privacy-focused AI personal assistants, giving users full control and ownership of their own personal AI. YCubed is a Silicon Valley-based Web3 incubator focused on driving innovation at the intersection of AI and encryption, and will release more information about its projects in the fields of AI data and reasoning in the coming weeks.
Solana Ecosystem Creator Platform DRiP Completes $8 Million Seed Round of Financing, Led by Coinbase Ventures and Others
On September 9, Solana ecosystem creator platform DRiP announced the completion of an $8 million seed round of financing, led by NFX, Coinbase Ventures and Progression (a fund founded by former TikTok executives), with participation from Placeholder, 6th Man Ventures and more than 30 angel investors. The valuation and financing structure have not yet been disclosed. The new funds will be used to accelerate the attraction of creators, launch consumer-facing mobile applications, expand the development of creator tools and platform features, and strengthen marketing efforts.
Web3 game developer Nytro Lab completes $8 million financing, led by SevenX Ventures
On September 10, Web3 game developer Nytro Lab announced that it had completed a $8 million financing round, led by SevenX Ventures, with participation from OKX Ventures, Aptos Labs, HashKey Capital and other institutions. So far, its total financing amount has reached $25 million. It is reported that Nytro Lab also announced that its Roguelike RPG game Castile will launch a one-month public test, and 10 million CAST will be issued before the actual issuance of tokens.
DeFi abstract platform Infinit completes $6 million in financing, with Electric Capital and others participating
On September 12, DeFi abstraction platform Infinit completed a $6 million financing round, with participation from Electric Capital, Mirana Ventures, Hashed and Arthur Hayes' family office Maelstrom, Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent and Presto Labs. The new funds will be used to enhance its infrastructure and provide a smoother service experience for DeFi protocol builders.
RON Ecosystem Game Platform Moku Completes $5.35 Million in Financing, Led by Sky Mavis and Others
On September 10, RON ecosystem game platform Moku announced on X platform that it had completed a financing of US$5.35 million, led by Sky Mavis, A16Z GAMES and A16Z GAMES SPEEDRUN, with participation from Arca, Framework Ventures, 32-Bit Ventures and others. The team is committed to putting the power of publishing in the hands of gamers and creators.
Blocksense completes $4 million seed round of financing, led by Permutation, with participation from a16z, CSX and others
On September 10, according to official news, Blocksense completed a $4 million seed round of financing, led by Permutation, with participation from a16z's Crypto Startup Accelerator (CSX), Scott Moore, Public Works, Tykhe Block Ventures, Selini Capital, and MH Ventures. It is understood that Blocksense is a Zk Rollup-based oracle solution that reduces high costs through tightly packaged data blocks, introduces a transparent charging model, and provides a fully decentralized, permissionless data feed, aiming to revolutionize the oracle network. Anyone can become a data provider on the network by staking BlockSense tokens, and the node will automatically perform all reporting tasks by obtaining the appropriate oracle script and broadcasting its results to the BlockSense network.
DePIN Protocol Wingbits Completes $3.5 Million Seed Round of Financing, Led by Borderless Capital and Tribe Capital
On September 12, the Wingbits protocol, which created the DePIN flight tracking network based on Solana, announced the completion of a $3.5 million seed round of financing, led by Borderless Capital and Tribe Capital, with participation from Antler and several angel investors. The team said: "Wingbits rewards the quality of data captured by antennas maintained by enthusiasts. Individuals are rewarded based on performance, coverage, and uptime, and there are global leaderboards to compare the best performing antennas. As of the end of 2023, there were 40 nodes on the Wingbits platform, and now it has increased to nearly 2,000."
Web3 operating system Fountain completes $3.5 million seed round of financing, with participation from Foundation Capital and others
On September 10, Web3 operating system Fountain announced the completion of a $3.5 million seed round of financing, with investors including Foundation Capital, Caladan, Primal Capital, Druid Ventures, etc. Fountain addresses the issue of DeFi protocols being vulnerable to market volatility and risk by providing a smart contract multi-signature platform with a code-free workflow builder. The platform enables companies to seamlessly manage and automate financial, risk management, and trading operations.
Solana on-chain mining project Ore announces the establishment of Regolith Labs and completes $3 million seed round of financing
On September 14, Solana’s on-chain mining project Ore published a post on X stating that it had established Regolith Labs and completed a $3 million seed round of financing, led by Foundation Capital, with participation from Colosseum, Solana Ventures, B+J Studios, Dead King Society, and 3 KVC. Regolith Labs aims to accelerate the development of the ORE ecosystem and introduce millions of new users to the cryptocurrency space through Solana’s new proof-of-work mining primitives and liquidity network.
Ethereum scaling solution t1 protocol completes $2.5 million pre-seed round financing, with a16z and CSX participating
On September 10, Ethereum scaling solution t 1 protocol completed a $2.5 million pre-seed round of financing, with participation from a16z Crypto Startup School (CSX), Espresso, Frax, CowSwap, ETHGlobal, ENSO, INJECTIVE, and angel investors such as Guy Wuollet, AliYahya, and Eric Chen. It is reported that t 1 protocol is a fast final scaling solution for Ethereum, supporting real-time proof generation to unify Ethereum.
Ammalgam completes $2.5 million seed round of financing, led by Framework Ventures and others
On September 10, the decentralized lending exchange (DLEX) Ammalgam announced the completion of a $2.5 million seed round of financing led by Lightspeed Faction and Framework Ventures, with participation from Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, and angel investors such as Kain Warwick, Anton Bukov, Spencer Noon and Jordi Alexander. The new funds will be used to drive the growth and development of the protocol, including expanding the core talent team and product development.
Hyperbridge Completes $2.5 Million Seed Round Led by Web3 Foundation and Scytale Digital
On September 11, blockchain technology company Hyperbridge announced the completion of a $2.5 million seed round of financing, led by the Web3 Foundation and Scytale Digital. Hyperbridge uses the Polkadot architecture to open up new possibilities for decentralized applications (DApps) and improve the scalability and efficiency of the Web3 ecosystem.
Orange Cap Games completes $2 million angel round of financing, with participation from Igloo Group, the parent company of Fat Penguin, and others
On September 10, blockchain game development studio Orange Cap Games announced the completion of a $2 million Pre-Seed angel round of financing, with participation from Igloo Inc, former Dapper Labs executive Amber, former ROBLOX CFO Matt Finick, LayerZero CEO Bryan Pellegrino, YGG founder Gabriel Dizon, and Crunchyroll co-founder Kun Gao. It is reported that the funds from this round of financing will be used for its upcoming trading card game Vibes, which also received IP support from Pudgy Penguins.
Web3 medical platform UHT completes $1.2 million Pre-Seed round of financing, led by Animoca Brands and others
On September 13, the gamified medical platform Universal Health Token (UHT) completed a US$1.2 million Pre-Seed round of financing, led by Animoca Brands, Polygon Ventures and Tezos Foundation.
Cross-rollup order book DEX Zada Finance completes a new round of financing, Cryptia Capital and others participate
On September 10, Zada Finance, a cross-rollup order book DEX built on Scroll, announced the completion of a new round of financing, with participation from Cryptia Capital, NovaSeed Ventures, Pulse Capital, Axium Partners, Digitata Capital, Hivemind Ventures, etc. The specific amount and valuation information have not been disclosed. It is reported that the new funds will promote its transition from AMM DEX to the order book model, and will also explore Layer 3 solutions and account abstraction to improve user experience, aiming to aggregate liquidity between different Rollups and solve the fragmentation problem through cross-Rollup solutions.
Titan Network Completes Seed Round of Financing, Led by Arrington Capital
On September 11, Titan Network, a rising star in the decentralized infrastructure network (DePIN), announced the completion of its seed round of financing. This round of financing was led by Arrington Capital, followed by several well-known investment institutions such as DePINX. As an innovator in the field of decentralized infrastructure networks, Titan Network is committed to building an open, efficient and secure digital resource network to match idle community resources with global needs. This round of financing will further promote Titan Network's technology research and development in the field of DePIN and global market expansion. Industry insiders speculate that due to the rapid growth in demand for decentralized solutions, the next trillion-dollar company may be a DePIN giant similar to Amazon AWS cloud service.
Eigenpie completes seed round financing, with participation from Arbitrum Foundation, PancakeSwap and others
On September 13, Ethereum liquidity re-pledge protocol Eigenpie announced on X that it had received strategic investment and completed its seed round of financing. The specific amount has not been disclosed yet. Arbitrum Foundation, Robot Ventures, PancakeSwap, Relayer Capital and Bitget CEO Gracy Chen, Frax Finance founder Sam Kazemian, Zircuit co-founder Angel Xu, GMX core contributor coinflipcanada and others participated in the investment. The new financing will support the long-term development of EigenLayer liquidity re-pledge.
Carbon neutral blockchain platform OFP completes seed round financing, led by Übermorgen Ventures
On September 13, the carbon neutral blockchain platform Open Forest Protocol (OFP) completed its seed round of financing, led by Übermorgen Ventures, with participation from BackBone Ventures, GS Futures, and foundations such as Bloom Foundation, NEAR Foundation, and Foundation Valery. The specific amount of financing has not yet been disclosed.
Derivatives trading platform Derive completes angel round of financing
On September 13, derivatives trading platform Derive (formerly Lyra) announced the completion of its angel round of financing, with participation from DCFGOD, EtherFi co-founder Rok Kopp, SPREEK and others. Derive is a decentralized cryptocurrency options and perpetual contract trading platform that supports financial applications and products for various integrators, traders and institutions.
