Last week, there were a total of 18 public financing events in the cryptocurrency market, with financing rounds and total amounts remaining stable | Investment and Financing Weekly Report

Organizer: Biscuit, RootData

According to incomplete statistics from RootData, during the period from November 6 to November 12, 2023, there were a total of 18 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $99.65 million.

From the perspective of track distribution, the projects that received financing are mainly concentrated in the infrastructure track. Notable projects include account abstraction developer Pimlico completing a $4.2 million seed round led by a16z crypto; GameFi platform Citadel completing a $3.3 million seed round led by 1kx; Archetype leading the financing for distributed AI computing platform Ritual and modular Rollup development platform Stackr Labs.

In addition, Hong Kong-listed company Linekong Interactive will launch a seed fund BTC NEXT with a scale of $15 million for Bitcoin network ecological asset management. According to Wang Feng, the founder of Element/Linekong Interactive, this asset management fund will mainly participate in emerging crypto assets in the Bitcoin network ecosystem (including second layers like the Lightning Network), including but not limited to asset issuance protocols, trading markets, NFTs, and GameFi games.

Ninety Eight (formerly Coin98 Finance) announced on Twitter that it will establish a $25 million ecosystem fund to promote the growth and development of Web3 startups in Asia. Arche Fund will be responsible for overseeing the fund and collaborating with selected startups.

Du Jun, co-founder of ABCDE Capital, stated on social media that a new laboratory focusing on AI data and scenario-related investment incubation will be established soon, with a funding scale of $100 million.

*（List of projects that completed financing last week, data source: * Rootdata）

I. Infrastructure

1. Smart contract platform Llama completes $6 million seed round financing, with participation from Aave founder, Polygon co-founder, etc.
Smart contract access control and governance platform Llama has completed a $6 million seed round financing, with participation from Founders Fund, Electric Capital, Polygon co-founder Sandeep Nailwal, and Aave founder Stani Kulechov.

Llama aims to make the governance of blockchain protocols more efficient, allowing protocols to encode roles and permissions to execute on-chain operations, such as fund transfers or changing protocol parameters, addressing some inefficiencies and security vulnerabilities that could lead to poor performance or worse, hacking and exploitation. (Source link)

2. Payment startup Due completes $3.3 million seed round financing to develop blockchain-based platform
Payment service provider Due announced the completion of a $3.3 million seed round financing, led by Semantic and Fabric Ventures, with participation from BlockTower, Speedinvest, Polymorphic Capital, and Discovery Ventures. The new funds will be used to further develop Due's technology and expand its fiat currency connections to more markets. The company plans to expand into Latin America and the Asia-Pacific region in the first quarter of next year. (Source link)

3. Account abstraction developer Pimlico completes $4.2 million seed round financing, led by a16z crypto
Account abstraction developer Pimlico announced the completion of a $4.2 million seed round financing, led by a16z crypto. Pimlico aims to become the underlying infrastructure layer driving Ethereum's transition to smart contract wallets.

According to crypto data platform RootData, on September 25, Pimlico announced the completion of a $1.6 million Pre-Seed round financing, led by 1confirmation, with participation from Safe, Consensys, and several angel investors. (Source link)

4. Distributed AI computing platform Ritual completes $25 million financing, led by Archetype
Distributed AI computing platform Ritual announced the completion of $25 million financing, led by Archetype, with participation from Accomplice and Robot Ventures. Ritual aims to create an "incentive network" to power distributed computing devices to support various applications of artificial intelligence. (Source link)

5. Ethereum scaling startup Stackr Labs completes $5.5 million seed round financing, led by Archetype
Ethereum scaling project Stackr Labs announced the completion of $5.5 million seed round financing, led by Archetype, with participation from a16z Crypto Startup School, Lemniscap, Scalar Capital, and others. Stackr plans to expand its team and launch a testnet. Stackr also plans to establish a grant program to attract developers to build on its platform.

The Stackr team is based in India and is developing Ethereum scaling infrastructure focused on "micro-rollups" or application-specific rollups, aimed at helping developers launch scalable Web3 applications using Web2 programming languages. (Source link)

6. Crypto chip company Ingonyama completes $20 million seed round financing, led by AI21 Lab's backer Walden Catalyst
Crypto chip company Ingonyama announced the completion of $20 million seed round financing, led by Walden Catalyst, a major investor in AI21 Lab, with participation from Geometry, BlueYard Capital, Samsung Next, Sentinel Global, and others. Many companies participating in this round rely heavily on zero-knowledge proof technology, including Israeli company StarkWare.

It is reported that Ingonyama's first chip is a programmable parallel computing processor similar to a GPU, but designed specifically to accelerate advanced cryptography, particularly for zero-knowledge proofs and fully homomorphic encryption. Before the chip is ready, the company is collaborating with GPU to develop open-source software that efficiently runs the same cryptography. (Source link)

II. CeFi

1. Stablecoin company StablR completes €3.3 million seed round financing
Stablecoin startup StablR announced the completion of €3.3 million ($3.5 million) seed round financing to establish its euro-backed stablecoin business. Deribit, Maven 11, Theta Capital, Folkvang, and Blocktech participated.

It is reported that StablR began issuing euro-backed stablecoins, coded as EurR, on October 12. The startup has been operational for over a year (since August 2022). StablR hopes it can bring liquidity to the DeFi and CeFi markets, ultimately bringing more users into the crypto ecosystem. (Source link)

2. Singapore blockchain tokenization platform Chintai completes new round of financing, led by B1
Singapore blockchain tokenization platform Chintai has completed a new round of financing, led by investment company B1, with the specific financing amount not disclosed.

Chintai is a one-stop capital market modernization solution regulated and licensed by the Monetary Authority of Singapore. Chintai's product suite includes dynamic security token issuance, high-performance secondary trading, and automated compliance infrastructure for regulated digital assets, aimed at bridging the gap between enterprises and compliant blockchain technology through its Blockchain Platform as a Service (BPaaS) model. (Source link)

3. Self-custody crypto investment app Sock completes $2.8 million seed round financing, led by Haven Ventures
According to FinSMEs, cryptocurrency investment application provider Sock announced the completion of $2.8 million seed round financing, led by Haven Ventures, with participation from Designer Fund, Expansion, Spacecadet Ventures, Sunflower Fund, and Olive Capital. (Source link)

4. Fragmented bond exchange BondbloX, using DLT technology, completes $6 million Series B financing, with Citigroup participating
Fragmented bond exchange BondbloX, which uses distributed ledger technology (DLT), has completed $6 million in Series B financing, with participation from Beacon Venture Capital, the corporate venture capital arm of Kasikorn Bank, existing investors Citigroup, MassMutual Ventures, Potato Productions, and Octava.

BondbloX was launched in 2020 and is a fractional bond exchange regulated by Singapore, using atomic settlement and distributed ledger technology. BondbloX purchases traditional bonds held by custodians and then splits these bonds, allowing investors to purchase amounts as low as $1,000, with Citigroup serving as its digital custodian. (Source link)

5. Latin American digital finance company Galactic Holdings completes $6.25 million Series A financing, led by Galaxy Interactive and Dragonfly
According to Cointelegraph, Latin American digital finance company Galactic Holdings announced the completion of Series A financing totaling $6.25 million. This round was led by Galaxy Interactive and Dragonfly, with participation from several institutions including SHK. The funds will further promote the development of Galactic Holdings' sub-brands such as TruBit wallet, TruBit Pro exchange, and the Mexican stablecoin MMXN in the Latin American market, while accelerating the expansion of cross-border payment services in other countries.

According to crypto data platform RootData, in April 2023, Galactic Holdings announced the completion of a $10 million Pre-A round financing. This round was led by BAI Capital, with participation from Animoca Brands, Y2Z Ventures, Longling Capital, Head & Shoulders, TKX Digital Group, Perseverance Capital, and Palm Drive Capital. (Source link)

III. DeFi

1. Decentralized finance platform Kresko completes $1.8 million financing, led by Electric Capital and Zero Age Ventures
Decentralized finance platform Kresko announced on X platform the completion of $1.8 million strategic round financing, led by Electric Capital and Zero Age Ventures, with participation from Oak Grove Ventures, MH Ventures, Polychain Capital, GTS Ventures, and others. The new funds will be used to accelerate the development of the protocol and the launch of the mainnet in Q4.

According to crypto data platform RootData, Kresko previously received $2.35 million in seed round investment, led by Electric Capital and Polychain. (Source link)

2. Automated DeFi platform Definitive completes $4.1 million financing, led by BlockTower
According to The Block, DeFi startup Definitive has completed $4.1 million in financing, led by BlockTower, with participation from Nascent, Coinbase Ventures, CMT Digital, and others. The funds raised will be used to create an emerging capital market platform that makes it easier for Wall Street to enter DeFi.

It is reported that Definitive was founded by three former Coinbase product and engineering professionals, aiming to provide investors with an experience similar to that of centralized exchanges and traditional financial services. After this round of financing, Definitive's shareholder list includes Nascent, Coinbase Ventures, and CMT Digital. (Source link)

3. Blockchain real estate investment platform mogul Club completes $3.6 million financing, led by AY Ventures
According to TechCrunch, blockchain real estate investment platform mogul Club announced the completion of $3.6 million in seed round financing, led by AY Ventures, with participation from Tim Draper & Associates, Draper B1, InterVest, Draper Dragon, Blizzard Fund, and executives from Goldman Sachs, JPMorgan, and others. To date, the company's total financing has reached $4.2 million. (Source link)

IV. Gaming

1. GameFi platform Citadel completes $3.3 million seed round financing, led by 1kx
GameFi platform Citadel has completed a $3.3 million seed round financing, led by 1kx, with participation from Shima Capital, Hashed, Matchbox DAO, Ready Player DAO, and several angel investors. The funds from this round will be used to expand the team to continue developing the protocol.

Citadel is an Ethereum ecosystem GameFi platform aimed at creating a vibrant and sustainable world for players built on an open-source modular core platform. (Source link)

V. NFT

1. NFT authentication platform Authentick completes $4 million seed round financing, led by Menyala, a venture capital platform founded by Temasek
NFT authentication company Authentick announced the completion of $4 million in seed round financing, led by Menyala, a venture capital platform founded by Temasek. The funds will help Authentick expand its user base and product range. Authentick allows users to purchase digital collectibles or NFTs and verify their authenticity, aiming to enable users to buy digital collectibles without using a Web3 wallet or entering exchanges.

Authentick plans to offer incentives to brand partners looking to reach a broader audience. The company will manage the distribution of its digital collectibles and ensure that these collectibles can be purchased at major online retailers. (Source link)