Last week, there were a total of 22 public financing events in the cryptocurrency market, with the number of financing deals and total amount remaining stable | Investment and Financing Weekly Report

整理：饼干，RootData

According to incomplete statistics from RootData, during the period from June 26 to July 3, 2023, there were a total of 22 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $12.936 million. Both the total number of financing events and the total amount have significantly increased.

From the perspective of track distribution, infrastructure and DeFi were the popular tracks last week, with a total of 4 infrastructure projects and 4 DeFi projects receiving financing, amounting to $23 million and $9.19 million, respectively.

In terms of financing rounds and scales, early-stage projects accounted for the largest share, with a total of 8 seed round financings. The most impactful financing event was the establishment of the bond fund company Superstate by Compound Labs' founder, which completed seed round financing with participation from ParaFi Capital, and DWF Labs' additional investment of $18 million in Conflux.

*（List of projects with financing greater than $10 million last week, data source: * Rootdata）

I. CeFi

1. Hong Kong online insurance company OneDegree completes $27 million financing to expand digital asset insurance business

OneDegree, one of the first insurtech startups in Hong Kong to obtain a virtual insurance license, has completed a new round of financing of $27 million, with participation from Gobi Partners, New World Development, and Bitrock. The new funds will be used to further expand its digital asset insurance portfolio.

Alvin Kwock Yin-lun, co-founder of OneDegree, stated in an interview regarding this financing that they will focus more on providing insurance for virtual asset trading platforms and operators. It first launched cryptocurrency insurance in November 2021, providing HKD 100 million in insurance for the Hong Kong digital asset exchange. (Source link)

2. Compound Labs founder establishes bond fund company Superstate, completes seed round financing with participation from ParaFi Capital

Robert Leshner, CEO of the decentralized lending platform Compound, has submitted documents to the U.S. Securities and Exchange Commission to establish a bond fund company called "Superstate," planning to use the Ethereum blockchain as an auxiliary record-keeping tool.

According to the documents, Superstate's fund will invest in "ultra-short-term government securities," including U.S. Treasury bonds, government agency securities, and other government-backed instruments. The documents state that the fund will rely on a traditional Wall Street "transfer agent" to maintain ownership records for fund holders, but ownership of certain fund shares will also be recorded on one or more blockchains, initially on the Ethereum blockchain.

Another document submitted by Superstate on June 16 indicated that the company also plans to sell $3.75 million worth of "options, warrants, or other derivatives."

Additionally, Superstate announced that it has completed seed round financing, with the specific amount not disclosed. This round of financing was participated in by ParaFi Capital, 1kx, Cumberland, CoinFund, and Distributed Global. (Source link)

3. Bitpanda Pro completes €30 million Series A financing and spins off into a new entity One Trading

Austrian crypto trading platform Bitpanda has spun off its subsidiary Bitpanda Pro, aimed at institutional and professional traders, into an independent company named One Trading, and has completed €30 million Series A financing, led by Peter Thiel's Valar Ventures, with participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures. Additionally, Bitpanda will retain a stake in the company.

One Trading stated that it intends to operate as a MiFID trading venue and also holds a VASP license. This collaboration is expected to enable it to offer "capital-efficient spot and derivative products" to a wide range of clients. Meanwhile, the MiFID license will also allow the startup to list financial instruments. (The Block)

II. Infrastructure

1. Privacy identity verification solution Outdid completes $2.5 million seed round financing, led by Jump Crypto

London-based privacy identity verification solution provider Outdid announced the completion of $2.5 million in seed round financing, led by Jump Crypto, with participation from Superscrypt and 15 angel investors. The company plans to use the funds to expand its operations and business scope.

Outdid provides a privacy identity verification tool that utilizes zero-knowledge proofs to verify government-issued original documents without the need for intermediaries to validate and issue certificates, thus addressing the dilemma of privacy and verifiability. (Source link)

2. Web3 data security and privacy platform Mind Network completes $2.5 million seed round financing, with participation from Binance Labs, HashKey Capital, etc.

Web3 data security and privacy platform Mind Network announced the completion of $2.5 million in seed round financing, with participation from Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and others. Mind Network was previously selected for Binance Labs' fifth incubation program and the Chainlink BUILD program.

Mind Network is a composable data protocol that allows developers to interoperate data across platforms, providing end-to-end encryption for users, enabling them to fully control their personal data, financial transactions, and user interactions. (Source link)

3. Islamic crypto project Islamic Coin completes $200 million financing, with investment from ABO Digital

The Sharia-compliant crypto project Islamic Coin announced the completion of $200 million in financing, with investment from digital asset investment company ABO Digital. To date, the project has raised a total of $400 million.

Additionally, Islamic Coin announced a partnership with UK-based DDCAP Group to develop several Web3 solutions for Islamic finance, stating that it is building a game-changing financial platform that combines the ethics and traditions of Islamic finance.

Islamic Coin is built on its developed Haqq blockchain, which aims to strictly adhere to Islamic financial rules and traditions. (Source link)

4. DWF Labs increases investment in Conflux by $18 million

DWF Labs announced that it has recently purchased an additional $18 million worth of Conflux tokens (CFX). According to RootData, DFW Labs purchased $10 million worth of CFX tokens in March 2023. (Source link)

III. DeFi

1. DeFi protocol AlloyX completes $2 million financing, led by Hack VC

DeFi protocol AlloyX has completed $2 million in Pre-Seed round financing, led by Hack VC, with participation from Circle Ventures, Digital Currency Group, Strato, Lecca Ventures, MH Ventures, very early Ventures, Archblock, DAO5, Credix Finance, and others.

AlloyX's first real-world asset vault is set to launch in early Q3 and plans to integrate with other DeFi protocols, with more investment vaults to be launched later this year. (Source link)

2. DeFi collateral protocol PWN completes over $2 million financing, with participation from StarkWare, Nethermind, etc.

DeFi collateral protocol PWN announced the completion of over $2 million in financing, with participation from StarkWare, Nethermind, Safe Ecosystem Foundation, Digital Finance Group, Jsquare, and several angel investors including Patricio Worthalter (POAP), Christoph Jentzsch (founder of Slock.it), Danny Ryan, Tim Beiko (Ethereum Foundation), Alex Van de Sande (ENS delegate), and Lefteris Karapetsas (founder of Rotki).

PWN allows users to use NFTs or any tokens as collateral to invest in fixed-interest loans and generate returns; PWN DAO is responsible for overseeing the operation of the PWN protocol and related tools developed by the team (such as PWN Safe or token bundler). (Source link)

3. Land ownership digitization platform Avantis completes $2.83 million Series A financing to build new digital asset tokenization platform SANGA

According to the Bangkok Post, Thailand's land ownership digital asset tokenization platform Avantis announced the completion of 100 million Thai Baht (approximately $2.83 million) in Series A financing, led by J Ventures Company Limited (JVC) and Rende Development Company Limited.
Avantis stated that the new funds will drive the launch of a digital asset tokenization platform called SANGA, which will facilitate the issuance of digital contracts for land ownership by converting them into virtual plots or NFTs. SANGA will also expand into the digital banking sector, expected to launch in the next 1-2 years. (Source link)

4. Open-source anti-abuse MEV protocol Shutter Network secures $2.36 million financing

Open-source anti-abuse MEV protocol Shutter Network announced that it has secured $2.36 million in financing, with contributors including Alphemy Capital, coinix, Equilibrium, FishDAO, Factor (Gnosis Chain strategic risk fund), JDAC Capital, JLH Ventures, OKX Ventures, Owl Ventures, Own.fund, and Timothy Lowe.

Shutter Network aims to prevent front-running on Ethereum by using a distributed key generation (DKG) protocol based on threshold encryption. (Source link)

IV. Gaming

1. Blockchain game studio Mythical Games completes $37 million financing, led by Scytale Digital

Blockchain game studio Mythical Games has completed $37 million in Series C1 financing, led by Scytale Digital, with participation from ARK Invest under Cathie Wood, Animoca Brands, PROOF, Stanford Athletics, MoonPay, a16z (Andreessen Horowitz), WestCap, Gaingels, Signum Growth, and Struck Capital. (Source link)

2. Web3 game studio Pixion Games completes $5.5 million seed round financing, with participation from Shima Capital, etc.

Web3 game studio Pixion Games has completed $5.5 million in seed round financing, with investors including Blizzard Fund from Avalanche Foundation, Shima Capital, and ReadyPlayerDAO.

Pixion Games plans to build its flagship game Fableborne, an action-based role-playing game that allows players to interact with on-chain assets built on the Avalanche network. (Source link)

3. Metaverse gaming platform AvatarLife completes $1.5 million seed round financing, led by Info Edge Ventures

Metaverse gaming platform AvatarLife has completed $1.5 million in seed round financing, led by Info Edge Ventures. The funds will be used for product development, community building, and expanding its global team. This is reportedly Info Edge Ventures' third investment in the gaming sector, following investments in the fantasy esports platform Fanclash and the VR-based toy manufacturer Mirana. (Source link)

V. NFT

1. NFT trading platform Tegro completes seed round financing at a valuation of $100 million, with participation from Polygon Ventures, etc.

NFT trading platform Tegro has completed seed round financing at a valuation of $100 million, with participation from Polygon Ventures and a number of private investment institutions, with the specific financing amount not disclosed.

Tegro supports users in bulk trading NFTs on Ethereum, Polygon, and other EVM-compatible chains, while also providing trading tools and technical services. The company revealed that it will announce some "major partnerships" and community "airdrop activities" in the coming months. (Source link)

2. NFT options protocol Hook Protocol completes $3 million financing, led by Collab+Currency and Lattice

NFT options protocol Hook Protocol announced the completion of $3 million in financing, led by Collab+Currency and Lattice, with participation from Slow, Sfermion, Maven11, Contrary, and angel investors including gmoney, jdh, Salvino D'Armati, Flamingo DAO, Neon DAO, and The LAO. The funds will be used to build the protocol.

Additionally, Hook Protocol has launched two new products today: vBids and Hook Earn, and a new incentive program called The Treasure Hunt has also gone live today. (Source link)

VI. AI + Web3

1. Web3 smart contract generator Mazzuma completes new round of financing, with participation from Adaverse

Web3 smart contract generator Mazzuma announced the completion of a new round of financing, with participation from Cardano ecosystem investment firm Adaverse, with the specific financing amount not disclosed. The new funds will be used to promote the launch of its new product MazzumaGPT.

Mazzuma, headquartered in Ghana, aims to leverage AI technology to help developers seamlessly generate smart contract code for Web3 decentralized applications, thereby accelerating the creation and deployment of blockchain smart contracts. (Source link)

2. Delysium announces strategic investment from Polygon, will use generative AI technology to create virtual society

Delysium announced that it has received a strategic investment from Polygon and released an interoperable AI-Powered OpenWorld Framework. Delysium aims to create a virtual society where 1 billion people and 10 billion AI avatars coexist, utilizing generative AI around a multi-chain ecosystem.

According to RootData, Delysium has previously completed two rounds of financing, raising a total of $14 million, with leading investors including Anthos Capital, Galaxy Interactive, Republic Crypto, and Alameda Research. Delysium is a massively multiplayer online game fully controlled by players, allowing them to create various customized physical assets, narrative assets, and local AI metaverse worlds. (Source link)

3. Crypto data analytics provider BullBear AI receives $1 million investment from PolkaBridge Ventures

AI-based crypto market data analytics provider BullBear AI announced that it has received $1 million in financing from PolkaBridge Ventures. The new funds will be used for market expansion in new regions. BullBear AI's tools can predict market volatility trends based on data from the crypto industry, user behavior, and price actions. (Source link)

VII. Others

1. LBank Labs announces investment in fund management company ArkStream Capital

LBank Labs announced an investment in fund management company ArkStream Capital. ArkStream Capital is the ninth fund in LBank Labs' FOF strategic investment and plans to continue expanding FOF investments in the coming months.

ArkStream Capital has invested in over 70 startups, including Flow, SEI, Republic, Manta, LiveArtX, and Mask. Its fund ArkStream Fund II prioritizes investments in practical applications and consumer-oriented startups, with projects including the MOVE Layer1 project Linera, the Web3 gaming information platform Polkastarter Gaming, and the infrastructure solution Particle Network. (Source link)

2. CryptoQuant development team Blackbird completes approximately $6.5 million Series A financing, led by Atinum Investment

The on-chain data analytics platform CryptoQuant's development team Blackbird announced the completion of 8.5 billion Korean Won (approximately $6.5 million) in Series A financing, led by Atinum Investment, with participation from IMM Investment, SK, Base Investment, Hill Spring Investment, etc. The total financing has reached 12 billion Korean Won, and the new funds will be used to advance business and attract talent.

The Blackbird team was established in 2018 and launched the on-chain data analytics platform CryptoQuant in 2019. Currently, CryptoQuant provides services in over 200 countries worldwide, attracting more than 200 institutional clients. (Source link)

3. Web3 document management SaaS provider ShelterZoom completes $5 million financing

Web3 document management software as a service provider ShelterZoom has completed $5 million in financing, with the participating institutions undisclosed. The company claims that the total financing amount has exceeded $17.5 million, and the new funds will be used to expand into new markets and strengthen its Document GPS solution.

ShelterZoom provides document GPS, supporting the tokenization of document content to protect original record ownership, allowing businesses to track or revoke access to all sensitive data. Its Android application has already been launched on Google Play. (Source link)

4. NFT utility platform Cardinal, which previously raised $4.4 million, announces it will cease operations

The NFT utility protocol Cardinal on the Solana chain announced on Twitter that it will gradually shut down the protocol, attributing the closure to a challenging macro environment.

Cardinal is an NFT infrastructure protocol built on Solana, aimed at enhancing the utility of NFTs, including use cases such as NFT leasing, staking, ticketing, and custody. It completed $4.4 million in seed round financing in July 2022, led by Solana Ventures and Protagonist, with participation from Animoca Brands. (Source link)