Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from August 26 to September 1, 2024, there were 30 public investment and financing events in the blockchain and encryption industry, with a total financing of approximately US$192 million.
From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and Defi tracks. Popular projects include L1 network Quai Network, decentralized data platform Space and Time, multi-chain codeless Launchpad project Parlay Labs, Web3 service provider Verofax, and cross-border transfer platform Kredete.
In addition, Bridge, a Web3 payment company founded by former Coinbase and Square employees, has completed $58 million in financing, with participation from Sequoia Capital, Ribbit, Index and Haun Ventures.
(List of projects that raised more than $5 million last week, data source: Rootdata)
1. Infrastructure
Oasys partners with Japanese traditional financial giant SBI Holdings to promote blockchain gaming
According to cryptoslate, Oasys, a blockchain platform focusing on the gaming industry, announced a strategic partnership with Japanese financial group SBI Holdings on August 29. The partnership includes a financial investment from SBI Holdings, which will be used to increase the liquidity of Oasys' native OAS token and support the continued expansion of its blockchain ecosystem.
The latest collaboration supports multiple blockchain-based games set to be released later this year. These games are developed in partnership with well-known gaming companies such as SEGA and Ubisoft, which also serve as validators on the Oasys platform, aiming to create “AAA” web3 games.
Stablecoin payment company Bridge completes $58 million in financing, with Sequoia Capital and others participating
According to The Block, Bridge, a Web3 payment company founded by former Coinbase and Square employees, has completed $58 million in financing, with Sequoia Capital, Ribbit, Index and Haun Ventures participating.
Bridge is building a stablecoin-based payment platform that provides services such as cross-border payments and foreign currency exchange. It has partnered with Bitso to carry out stablecoin-based B2B cross-border payments in Latin America.
Alchemy acquires blockchain infrastructure provider Bware
According to The Block, Web3 development company Alchemy announced the acquisition of Romanian blockchain infrastructure provider Bware. The specific acquisition amount has not been disclosed.
It is reported that the acquisition will not affect Alchemy or Bware customers. In addition, Alchemy will not take over Bware's INFRA decentralized network and its tokens. This acquisition will expand Alchemy's business in Europe.
AI Layer1 Infrastructure Edge Matrix Chain (EMC) Completes $20 Million in Financing, Led by Amber Group and Polygon Ventures
Incubated by Future3 Campus, Edge Matrix Chain (EMC) completed a US$20 million financing round led by Amber Group and Polygon Venture, with participation from One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury and other well-known investment institutions.
Edge Matrix Chain (EMC) will use this financing to upgrade to AI Layer1 infrastructure, further accelerating the expansion and development of its ecosystem. Users can obtain EMC tokens by participating in the testnet and experience innovative AI public chain technology.
L1 Network Quai Network Completes $5 Million Strategic Round of Financing, Cogitent Ventures and Others Participate
According to The Block, L1 network Quai Network completed a $5 million strategic round of financing, with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures and DexCheck Ventures. After previous rounds of financing, the company's total financing has reached $15 million, of which $10 million came from Polychain Capital, Alumni Ventures and other companies.
It is reported that the new funds will be used to expand the project's engineering and developer relations teams, support research and development efforts, and invest in community engagement initiatives.
Double Jump.tokyo, a blockchain game developer, completes over $10 million in Series D funding led by SBI Investment
Double Jump.Tokyo, the developer of the Japanese game public blockchain Oasys, announced that it has received more than $10 million in financing in the first round of Series D financing, led by SBI Investment. Participating investors include Sony Group Corporation, Taisu Ventures, Gate Ventures, TM Capital, Inc., Bing Ventures Ltd., and a well-known entity that wishes to remain anonymous. The funds will be used to further develop and support blockchain games, blockchain infrastructure, and related services, while strengthening the company's organizational structure and talent base.
The new round of funding will strengthen the strategic partnership between double jump.tokyo and its investors. The company will deepen cooperation with SBI Group on Web3 services such as NFT market, and promote development on Sony Group blockchain "Soneium" to expand Web3 content and services. A key focus of the company is the upcoming release of the "Battle of Three Kingdoms" blockchain game, which is based on SEGA's popular IP "Sangokushi Taisen".
Solana restaking protocol Solayer completes $12 million seed round led by Polychain Capital
Solana ecosystem re-staking protocol Solayer completed a $12 million seed round of financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes family office Maelstrom. The post-investment valuation reached $80 million.
Co-founder Rachel Chu revealed that the round of financing closed in May and was structured as a simple agreement for future equity (SAFE) plus token warrants. The new financing will be used to expand the team, integrate new protocols and prepare for the second phase of the platform. The project plans to hire more employees in functions such as growth, institutional partners and engineering. Solayer also plans to launch its native token in the future, which is currently "under design."
Earlier this month, Binance Labs said it had invested in Solayer as part of the same $12 million seed round. Last month, Solayer also announced a Pre-Seed round of undisclosed size from angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.
Solana Optimistic Network Completes New Round of Funding, Solana Foundation Chairman and Others Participate in the Investment
According to The Block, Solana Optimistic Network (SOON) announced the completion of a new round of financing. Solana Foundation Chairman Lily Liu, Solana Labs co-founder Anatoly Yakovenko, Coinbasae Ventures Head Jonathan King, Celestia Labs co-founder Mustafa Al-Bassam, Avail co-founder Robinson Burkey, Wormhole Foundation co-founder Robinson Burkey and others participated in the investment. The specific amount has not been disclosed yet.
It is reported that the funds raised by Solana Optimistic Network will be used to build it into "the highest throughput rollup stack, providing scalability and efficiency for decentralized applications and any Layer 1 blockchain" by building the flagship products SOON Stack and SOON Mainnet.
Decentralized data platform Space and Time completes $20 million Series A financing, with Framework Ventures and others participating
According to Fortune, the decentralized data platform Space and Time announced the completion of a $20 million Series A financing round, with participation from Framework Ventures, Lightspeed Faction, Arrington Capital, Hivemind Capital, etc. The specific valuation data has not yet been disclosed. The company is committed to introducing the immutability of blockchain into AI applications to solve the verifiability problem brought about by AI.
Space and Time co-founder and CEO Nate Holiday said that in an AI-driven world, it has become critical to distinguish between AI-generated content and human/enterprise-generated content. The company's technology is designed to ensure the verifiability, credibility and transparency of AI application outputs. Space and Time was initially positioned as a decentralized version of the data storage service Snowflake, providing fast data retrieval services for blockchain applications such as DeFi that need to store large amounts of user information.
Web3 trusted account framework protocol OneBalance completes $5 million in angel and community rounds of financing
Web3 trusted account framework protocol OneBalance has completed $5 million in angel and community rounds of financing, led by Cyber Fund's Konstantin Lomashuk and Vasiliy Shapovalov. Independent investors including Yearn Finance developer Banteg, crypto KOL cobie, Across founder Hart Lambort, Wintermute chief researcher Igor Igamberdiev, WalletConnect founder Pedro Gomes, and Li.Fi founder Philipp Zentner also participated in the investment.
OneBalance said: "It believes that the transition to a better Web3 user experience requires an inclusive, collaborative and community-oriented approach. Therefore, it invited the best builders and community members in the field in the first round of fundraising."
According to RootData, OneBalance is a new framework for trusted accounts - combining chain abstraction, gas abstraction, and permission management to address the fragmented Web3 user experience.
Crypto development company Chainbound completes $4.6 million in financing, led by Cyber Fund
According to The Block, crypto development company Chainbound has completed a $4.6 million financing round led by Cyber Fund, with participation from Maven 11, Robot Ventures and Bankless Ventures.
It is reported that the startup is developing a protocol called Bolt, which will achieve sub-second transaction confirmation on Ethereum, greatly speeding up the current average transaction confirmation time of about 7 seconds.
2. Defi
Parlay Labs raises $2 million in funding led by DNA.fund
Parlay Labs, a multi-chain code-free launchpad project, announced the launch of a $2 million financing round, led by DNA.fund, with participation from Jon Najarian, co-founder of Market Rebellion and TV personality of FOX Business and CNBC, and Rick Schlesinger, co-founder of EOS New York. Parlay is the first platform of its kind on Ethereum, and the first platform to integrate Ethereum, Base, Optimism, Arbitrum, Avalanche, Polygon, BSC and Blast multi-chain launchpads and token transactions. The new funds are intended to be used to add more network and product enhancements.
DEX aggregator ODOS announced that it has completed its Series A financing, with Uniswap and others participating
According to official news, DEX aggregator ODOS announced that it has completed its Series A financing, with participation from CEIC (CE Innovation Capital), Uniswap, Curved Ventures, Orbs Network, Mantle Network, PAKA Fund and some well-known angel investors.
Level Development Company Peregrine Exploration Completes $3.6 Million in Financing, Polychain Capital and Dragonfly Lead the Investment
According to The Block, blockchain development and research company Peregrine Exploration has completed a $3.6 million financing round led by Polychain Capital and Dragonfly, with participation from Robot Ventures, Pier Two, EIV and Global Coin Research, as well as angel investors such as Balaji Srinivasan, Jeff Fang, Julian Koh, and Sidney Powell.
It is reported that the new funds will be used to develop a stablecoin protocol called Level.
Universal lending marketplace Echelon Market completes $3.5 million seed round led by Amber Group
General lending marketplace Echelon Market has completed a $3.5 million seed round of financing led by Amber Group, with participation from Laser Digital, Saison Capital, 280 Capital, Cypher Capital and others.
Echelon’s core money market enables lending and borrowing of assets through non-custodial pools. All positions are overcollateralized to protect lenders while providing borrowers with the highest capital efficiency and cost-effective rates.
According to RootData, Echelon is a decentralized financial marketplace written in the Move programming language. Its users can borrow and lend assets to each other indirectly through non-custodial pools to earn interest or increase purchasing power through leverage.
BeraChain Ecosystem Automated Leverage Protocol Origami Finance Completes $1.5 Million Seed Round Financing
Automated leverage protocol Origami Finance announced on X platform that it has completed a $1.5 million seed round of financing. Ouroboros Capital, Fjord Foundry, Good Partners, Upside, BeraLand, TempleDAO, Boba Tea Capital, Three Three Ventures, Smokey The Bera, janitoor.eth and others participated in the investment. The relevant valuation information has not been disclosed. The new funds will be used to build its automated leverage protocol launched on Ethereum and BeraChain.
It is reported that the protocol supports integration with third-party lending services, which can realize automated folded yield token (YBT) exposure, thereby improving capital efficiency and reducing liquidation and bad debt risks.
Decentralized Bitcoin Ecosystem Protocol BTA Protocol Completes $1.5 Million Series A Funding, Led by Athena Ventures
BTA Protocol announced the completion of a US$1.5 million Series A financing round led by Athena Ventures, with participation from RippleBank, CoinIX, Swiss Fund, Vessel Capital, Seed Club Ventures, Hulif Fund, Three M Capital, Faculty Capital, CoinVisionary and others.
It is reported that BTA Protocol is a decentralized ecological protocol based on BTC. BTA Protocol has applications such as staking protocol, liquidity protocol, range stability protocol (RSP), launch pool and lending protocol.
3. AI
Decentralized AI search network Adot receives strategic financing from Aptos
Adot (a.xyz), a decentralized AI search network founded by a former Google engineer, announced a strategic partnership with Aptos and received strategic investment from it. This move will help Adot to deepen its layout of the Aptos ecosystem, further optimize its search technology, support the construction and development of the Aptos ecosystem in an innovative way, and lay the foundation for its long-term success in the Web3 field.
Prior to this, Adot has raised a total of US$6 million in previous rounds of financing. These early investors include gumi Cryptos Capital, Hash Global, SevenX Ventures, Mask Network and other investment institutions and individual investors. Adot has released a video of its cooperation with Aptos on its official social media. Through this cooperation, Adot will bring a more convenient and efficient search experience to Aptos users and jointly promote the prosperity and development of the Aptos ecosystem.
Web3 AI immersive companion development company Nectar AI completes $3.9 million in financing, led by Mechanism Capital and others
Web3 AI immersive companion developer Nectar AI announced the completion of a $3.9 million financing led by Mechanism Capital and Karatage, with participation from Synergis, Maelstrom (Arthur Hayes), Builder Capital, Baboon and Decima, as well as Dao5 co-founders Tekin Salimi and George Lambeth, YGG co-founder Gabby Dizon and other crypto industry insiders. Nectar AI uses generative AI and Web3 fusion to build multimodal AI companions. Creators have full IP ownership of assets and can also perform permissionless monetization. The company plans to release an on-chain artificial intelligence agent protocol by the end of the year.
4. Games
Web3 game developer Legend of Arcadia completes $4 million seed round of financing, with participation from Animoca and others
Web3 game developer Legend of Arcadia has completed a $4 million seed round of financing, with participation from Animoca Brands, OKX Ventures, Arche Fund and Selini Capital. It is reported that Legend of Arcadia has currently developed a card role-playing game that can be accessed for free on mobile devices and will launch the in-game cryptocurrency ARCA.
Casual game SnakeLite completes multi-million dollar financing
According to Cointelegraph, the casual game project SnakeLite announced the completion of millions of dollars in financing. Investors include Ace Redpoint Ventures, One Piece Labs, Mirana Ventures, Sky9 Capital, Fenbushi US, NGC, Antalpha Ventures, Gate Labs, KuCoin Ventures, Huobi Ventures, CyberConnect, Alchemy Pay, Redline Labs, Cobo Ventures, SNZ Holding, ViaBTC Capital, etc.
SnakeLite has launched a battle royale PvP game on the TON blockchain, with a mining mode integrated with Telegram and casual PvE and PvP modes, allowing players to earn tokens through game interaction. SnakeLite currently supports multiple chains including TON, Solana, Ethereum, BNB Chain and Sonic.
Game company Gameplay Galaxy completes $11.17 million in financing, led by Blockchain Capital and Merit Circle
According to The Block, Web3 game development studio Gameplay Galaxy has raised $11.17 million in its latest seed round of extended financing, led by Blockchain Capital and Merit Circle. Founder and CEO Doron Kagan said that Gameplay Galaxy began raising funds for the seed round in May this year and ended last month. This round of financing was carried out in the form of equity financing and came with token warrants, bringing the company's valuation to $71 million.
According to asset data platform RootData, Gameplay Galaxy completed US$12.8 million in financing in September 2022, and the company's total financing amount has reached US$24 million.
V. Others
Cross-border transfer platform Kredete completes $2.25 million seed round of financing, led by BFF
Cross-border remittance platform Kredete announced the completion of a $2.25 million seed round of financing, led by BFF, with participation from well-known investment institutions such as Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, SDF and DNA Fund.
According to Web3 asset data platform RootData, Kredete is a financial platform dedicated to helping African immigrants build credit and send money home at low costs. Kredete uses stablecoins to significantly reduce transfer fees to less than one dollar.
Web3 service provider Verofax completes $3 million in financing, led by Navig8 Group and others
According to Assiyaq, Verofax, a Web3 service provider based in the UAE, announced the completion of a $3 million bridge financing. This round of financing was led by investors such as King Abdullah University of Science and Technology, Plug & Play Tech Center, Navig8 Group and Trove Capital UK. Other participants in this round of financing include Jawa Brothers Advisory, Alzamil Pedco CVC and Tracecore CVC.
The newly acquired funds will be used to advance Verofax’s projects in the Middle East and the EU. These projects include an AI guide tailored for the GCC region and a sports fan guide for EU and North American audiences.
Founded in 2018 by Wassim Merheby and Jamil Zablah, Verofax leverages Web3 technologies such as augmented reality, blockchain, and artificial intelligence to enhance the marketing experience for tourists, shoppers, and brands.
It is reported that in 2022, Verofax raised US$1.5 million in a pre-Series A financing round led by Benson Oak Ventures, with participation from 500 Global, Wami Capital and Vernalis Capital.
Aptos Labs announces strategic investment in Mereo to address IP-related asset flipping
Aptos Labs announced a strategic investment in Mereo, which aims to transform the way artists connect with fans and address the issue of asset flipping related to intellectual property through an innovative fan engagement platform.
The Mereo platform helps artists identify and reward real fans, who gain access to real assets through historical behavior, enjoy benefits such as early purchase of goods and enhanced live experience. These contributions are recorded on the chain in the form of non-transferable digital assets.
Aptos Labs uses the Digital Asset Standard (DA) to develop a new solution that uses non-transferable tokenized assets to ensure that artists can distribute assets to loyal fans and prevent reselling.
Time tokenization platform Time.fun completes $3 million seed round of financing
According to The Block, the time tokenization platform Time.fun has completed a $3 million seed round of financing, led by Brevan Howard Digital. Other investors include Coinbase Ventures, Breed VC, Zee Prime Capital, and Arthur Hayes' family office Maelstrom, as well as angel investors such as Solana co-founders Anatoly Yakovenko and Raj Gokal.
Time.fun is based on the Ethereum Layer 2 blockchain Base, helping creators tokenize their time. Users can buy, sell and redeem creators' time for private messages or one-on-one calls.
Since its launch on June 17, Time.fun has completed transactions of about 570 ETH (about $2 million), and creators have earned about 15 ETH (about $60,000). Time.fun uses a supply and demand curve mechanism and plans to issue its own tokens in the future, but the specific time is yet to be determined.
Crypto trading platform Neverless completes $6.7 million in financing
According to Chainwire, Neverless, a crypto trading platform launched by three former Revolut executives, has completed $6.7 million in financing, and the investors have not yet been disclosed. The application can conduct commission-free crypto transactions and invest in an automated investment account. Neverless allows users to buy and sell cryptocurrencies with zero fees.
It is reported that the company registered as a Virtual Asset Service Provider (VASP) with the Bank of Spain a few months ago.
Web3 streaming platform Myco completes $10 million Series A financing, with Aptos Labs and others participating
According to Arabian Business, Myco, a UAE-based Web3 streaming platform, announced the completion of a US$10 million Series A financing round. Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners and Enjinstarter, as well as a group of angel investors participated in the investment. The company's valuation in this round of financing reached US$80 million. The new funds will be used to further expand the Middle East and North American markets.
Mycomyco is a content traffic dApp that supports seamless integration of AVOD and SVOD capabilities in a decentralized environment and leverages the Web3 economic layer driven by the vision of providing true empowerment and ownership to viewers and content owners. The current content covers live sports, movies, documentaries, and UGC content.
Legion, an on-chain project financing platform, completes $2 million seed round of financing, led by Cyber Fund
According to Cointelegraph, the on-chain project financing platform Legion announced the completion of a $2 million seed round of financing, led by Cyber Fund, with participation from AllianceDAO, Delphi Labs, Coingecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, LongHash and others.
Legion is reportedly building its reputation system and accountability layer and seeking to obtain the necessary VASP/CASP licenses to facilitate token pre-funding and token sales for non-accredited investors under MiCA.
Multi-chain startup platform BSCS completes strategic round of financing, K300 Ventures participates
According to official news, the multi-chain startup platform BSCS announced the completion of a strategic round of financing, with K300 Ventures participating. The specific amount was not disclosed. The new funds are intended to be used for platform upgrades, expansion of marketing and community activities, and the launch of a joint incubation program.
