According to incomplete statistics from CoinVoice, there were over 27 publicly announced financing cases in the blockchain sector this week (11.09—11.13). This week saw 9 financing rounds in the tens of millions of dollars, including the Avalanche Foundation raising $250 million through a private token sale 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 landscape, AI and infrastructure fields were particularly active this week. Below is an overview of this week's financing events.
Superform Labs completes $3 million strategic round financing, led by VanEck Ventures.
Cryptocurrency investment app developer Superform Labs announces 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 amount has reached $9.5 million.
Superform is a permissionless cross-chain yield market that allows DeFi protocols to list their vaults or asset pools, enabling crypto users to deposit funds into these vaults and earn yields (chainwire).
Decentralized trading card game Fantasy completes $4.25 million seed round financing.
The decentralized trading card game Fantasy, powered by Blast, announces the completion of $4.25 million seed round financing, led by Dragonfly and with participation from Manifold Ventures. The new funds will be used to improve the Fantasy product.
Solana-based tokenization platform AgriDex completes $4 million strategic round financing.
Solana-based tokenization platform AgriDex completes $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 of financing, including Palantir's Tobechi Bolanle Taiwo and Perena's Anna Yuan.
It is reported that AgriDex plans to tokenize $4.5 billion in trade commitments and expand into new commodities such as cocoa from West Africa and wheat from Eastern Europe. Previously, the platform has tokenized agricultural products such as wine, olive oil, coffee, and livestock. As a London-based agricultural tokenization platform, AgriDex provides direct trading channels through NFTs to ensure transaction transparency and supports compliance controls, quality inspections, and commodity tracking.
Fantasy.top completes $4.25 million seed round financing, led by Dragonfly.
The decentralized trading card game Fantasy, based on Blast, announces the launch of the second version of its platform, Fantasy V2, while completing $4.25 million in seed round financing. This round was led by Dragonfly, with participation from Manifold Ventures. The financing will be used to enhance Fantasy's core products: card trading games and virtual betting. (The Block)
Decentralized derivatives protocol Symmio completes $3.1 million financing, with participation from Spartan Group and others.
Decentralized derivatives protocol Symmio announces that it has completed $3.1 million in financing, with investment institutions such as Spartan Group, Orbs, MCLB, and Blockchain Founders Fund investing approximately $2.1 million, while early investors include MS2 Capital, GMoney, and Prime Ventures.
Symmio is an intent-centric derivatives clearing layer designed to address liquidity and fragmentation issues in DeFi, currently supporting four networks: Arbitrum, Base, BSC, and Mantle. The project has revealed plans to launch its token TGE on December 16, providing initial liquidity through the SYMM/ETH trading pair on Aerodrome Finance.
Privasea, supported by Binance Labs, completes a new round of financing.
Privasea, supported by Binance Labs, completes a new round of financing, with Lunar Labs Capital participating. The specific investment amount has not been disclosed. Privasea previously also received investments from OKX Ventures and others to support its development of an AI-driven FHEML solution, providing scalable computing resources for AI tasks through a decentralized computing network.
Solana ecosystem institutional-grade spot trading service Uranium Capital completes $1.7 million Pre-Seed round financing.
Solana ecosystem institutional-grade spot trading service Uranium Capital announces 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 trading in under-financialized and highly regulated industries, allowing licensed buyers to settle physically while ensuring accessibility and regulatory compliance.
Prosper purchases 7,000 ASIC miners from Bitmain and completes strategic financing.
RWA protocol Prosper announces the purchase of 7,000 ASIC miners from Bitmain and completes strategic financing, with participation from Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. The specific financing amount has not been disclosed.
Perena completes $3 million Pre-Seed round financing, led by Borderless Capital.
Perena, founded by Anna Yuan, the former stablecoin head of the Solana Foundation, completes 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 returns by borrowing assets into the pool, depending on their risk tolerance. In addition to the mining pool infrastructure, Perena also plans to create a 'synthetic currency' that, according to Yuan, will be more resilient than the fiat currency 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) does with DAI. Perena has not finalized its design, but Anna Yuan hopes building CDPs alongside stable exchanges will create more 'synergies.'
Earlier news stated that Binance Labs announced investments in the Solana ecosystem stablecoin infrastructure protocol Perena.
Blockchain startup Commonware secures $9 million in financing.
Blockchain startup Commonware completes $9 million financing, 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 completes $10 million seed round financing, co-led by Peak XV and HongShan.
Stablecoin-driven new bank KAST completes $10 million seed round financing, with Peak XV and HongShan co-leading, and 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 that spun off from investment giant Sequoia last year.
KAST is a new bank-like platform priced in dollars that allows 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 was responsible for Circle's Asia-Pacific business, stated that many countries' banking infrastructures severely lack cross-border capabilities. The platform aims to reduce friction in international payments by bypassing traditional banking networks.
Avalanche completes $250 million private financing, with participation from Galaxy Digital and others.
Avalanche Foundation announces that it has raised $250 million for its blockchain platform through a private token sale, 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, the Avalanche Foundation raised $230 million in a similar token sale.
Web3 AI agency project ChainAware.ai completes a new round of financing.
Web3 AI agency project ChainAware.ai announces the completion of a new round of financing, led by ChainGPT Labs and with participation from coinix. The specific investment amount and valuation information have not been disclosed. The new funds are intended to support its predictive analytics for fraud detection and wallet behavior assessment on Ethereum, Polygon, BNB Smart Chain, and TON networks, enhancing Web3 security and user engagement.
Bitcoin self-custody app Relai completes $12 million Series A financing, led by Ego Death Capital.
Bitcoin self-custody app Relai announces the completion of $12 million Series A financing, led by venture capital firm Ego Death Capital, with participation from Timechain and Solit Group. So far, Relai's total financing amount has reached approximately $20 million, raising its pre-money valuation from $60 million to $72 million post-money. (TheBlock)
Tokenization GPU startup Exabits completes $15 million seed round financing at a valuation of $150 million, led by Hack VC.
Cryptocurrency AI startup Exabits, focusing on tokenizing GPUs, completes $15 million 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 it in October. He declined to comment on the structure of this round of financing but stated that a token will be launched in the future.
Lee stated that this seed round financing brings Exabits' total financing to $20 million. Earlier this year, the company conducted an undisclosed Pre-Seed financing round, followed by an undisclosed strategic financing round led by Portal Ventures, totaling approximately $5 million.
Blockchain development company ProvLabs completes seed round financing, with participation from Animoca Brands and others.
Blockchain development company ProvLabs, providing infrastructure technology solutions, announces 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. The specific financing amount and valuation information have not been disclosed.
The new funds are intended to expand its support for products and services such as the public Layer 1 blockchain Provenance Blockchain that supports RWA.
Web3 banking service provider Klickl completes $25 million Series A financing.
UAE-based Web3 banking service provider Klickl International announces the completion of $25 million Series A financing, with a valuation of $125 million. This round of financing is co-led by Web3Port Foundation and Aptos Labs, with participation from several institutions including Summer Ventures, Heritage Horizon Capital, and V2 Capital. Klickl plans to launch two major projects in the fourth quarter of 2024: establishing Klickl Labs in partnership with Summer Ventures, focusing on cross-border remittance and digital payment infrastructure development in high-growth markets in the Middle East and Africa; and setting up the Klickl Foundation to invest in the Klickl Web3 ecosystem. As a strategic partner, Web3Port Foundation will serve as the limited partner of the Klickl Foundation Web3 Fund. Klickl was established in 2017 and aims to build a global stablecoin ecosystem that connects digital finance with traditional finance.
BTC trading and custody app Relai completes $12 million Series A financing, led by Ego Death Capital.
Switzerland-based BTC trading and custody app Relai completes $12 million Series A financing, led by Bitcoin venture capital Ego Death Capital, which committed $4 million to 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 completes $3.9 million seed round financing, with participation from Animoca Ventures and others.
Decentralized lending platform Neptune Protocol announces the completion of $3.9 million seed round financing, 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. The new funds will support the launch of its native stablecoin USDN for Eclipse, finance comprehensive security audits to strengthen the protocol, and support team expansion.
Web3 AI cloud startup Hyperbolic completes $12 million Series A financing.
Web3 AI cloud startup Hyperbolic announces the completion of $12 million in 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. With this investment, Hyperbolic has increased 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. The company aims to provide verifiable, secure, and reliable AI services by integrating global GPU computing resources with blockchain technology, effectively alleviating the industry pain points of high costs and uneven allocation of computing resources. Additionally, the company has launched a decentralized orchestration layer called Hyper-dOS (Hyperbolic Distributed Operating System) to provide solid technical support for the entire GPU market.
Earlier news in July stated that Hyperbolic completed $7 million in seed round financing, led by Polychain Capital and Lightspeed Faction.
Web3 communication platform Dechat completes $1 million financing, with participation from Mindspace Solutions.
Decentralized Web3 communication platform Dechat completes $1 million financing, with participation from Mindspace Solutions. Valuation information has not 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 completes $1 million financing, with participation from Mindspace Solutions.
Decentralized Web3 communication platform Dechat completes $1 million financing, with participation from Mindspace Solutions. Valuation information has not 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 completes $10 million Series A financing, with participation from Khosla Ventures and others.
Bitcoin lending platform Lava completes $10 million Series A financing, with Khosla Ventures and Founders Fund participating. According to Lava founder and CEO Shehzan Maredia, the platform allows users to borrow against Bitcoin as collateral, with the slogan 'Save in Bitcoin, spend in dollars.'
Mandala Chain completes $1 million Pre-Seed round financing.
Mandala Chain, an L1 blockchain dedicated to connecting emerging market businesses and the retail sector, announces the completion of $1 million in Pre-Seed financing, led by Harbour Industrial Capital, with participation from O-DE Capital, NLS Ventures, and others. The new funds are intended to promote the provision of scalable real-world solutions.
AI voice company WaveForms completes $40 million seed round financing, led by a16z.
AI voice startup WaveForms, founded by former OpenAI researcher Alexis Conneau, secures $40 million in seed round financing, achieving a valuation of $200 million. This round of financing was led by Andreessen Horowitz.
It is reported that WaveForms is committed 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 after leaving in August, he founded WaveForms in San Francisco in September.
