Last week, there were a total of 18 public financing events in the cryptocurrency market, with a financing amount of 503.1 million USD | Investment and Financing Weekly Report

Organized by: Cookies, RootData

According to incomplete statistics from RootData, during the period from November 20 to November 26, 2023, there were a total of 18 public financing events in the blockchain and cryptocurrency industry, with a total funding of approximately $50.31 million.

In terms of track distribution, the projects that received funding were mainly distributed in the infrastructure and DeFi tracks. Notable projects include the Layer 2 network Blast, launched by the founder of Blur, which completed a $20 million financing round with participation from Paradigm. The data privacy solution Privy completed an $18 million Series A financing round, led by Paradigm.

In addition, there were 2 merger and acquisition events last week. The cryptocurrency data platform CoinGecko acquired the NFT and blockchain indexer Zash, and the digital asset exchange Bullish acquired the crypto media CoinDesk.

*（List of projects with financing greater than $5 million last week, data source: * Rootdata）

I. Infrastructure

1. The Layer 2 network Blast, launched by the founder of Blur, completed a $20 million financing round, with Paradigm participating
The Optimistic Rollup-based Layer 2 network Blast completed a $20 million financing round, with participation from Paradigm, Standard Crypto, eGirl Capital, and Mechanism Capital co-founder Andrew Kang, Lido strategic advisor Hasu, The Block CEO Larry Cermak, and several angel investors.

Blast stated that the current benchmark interest rate for Layer 2 is 0%, while Blast is the only Ethereum Layer 2 that offers native yields in ETH and stablecoins. Specifically, Blast participates in ETH staking, and the staking rewards will be returned to Layer 2 users and dapps. On Blast, users' balances will automatically compound and earn additional Blast rewards. Blast believes that this advantage alone can attract $20 billion in liquidity. (Source link)

2. Data privacy solution Privy completed an $18 million Series A financing round, led by Paradigm
Data privacy solution Privy completed an $18 million Series A financing round, led by Paradigm, with participation from Sequoia Capital and others. In addition, Privy announced that former Sequoia Capital partner and Stripe board member Huang will join Privy's board of directors.

It is reported that data privacy solution Privy announced the completion of an $8.3 million seed round financing on April 21, 2022, led by Sequoia Capital and Blue Yard Capital, with participation from Electric Capital, Archetype, BoxGroup, and Protocol Labs. Privy aims to resolve the contradiction between poor multi-wallet user experience and privacy risk leakage from integrated logins through Web3 solutions. This round of financing will be used to build the team and continue to create use cases that meet customer needs. (Source link)

3. One-click summary-based network framework Vistara announced the completion of Pre-Seed financing, led by D1 Ventures and Factor
The one-click Rollup deployment framework Vistara announced the completion of Pre-Seed financing, led by D1 Ventures and Factor, with participation from Public Works, founded by Gitcoin co-founder Scott Moore, Vamient Capital, and Celestia Labs co-founder CEO Mustafa Al-Bassam, among others.

It is reported that Vistara is building a Hardware Availability Layer (HAL) to support modular networks. Vistara's recently launched Vimana CLI simplifies node operations across different networks. (Source link)

II. CeFi

1. Web3 digital bank iPeakoin completed nearly $10 million Series A financing, led by ZhenFund
Web3 digital bank iPeakoin completed nearly $10 million Series A financing, led by ZhenFund. It is reported that iPeakoin is a fintech platform aimed at bridging the gap between traditional finance and cryptocurrency. The company aims to create a new generation of banking for global enterprises to better control corporate funds and simplify transactions. It streamlines KYC processes for fiat currency settlement, exchange, and payments, and integrates with cryptocurrency wallets. (Source link)

2. Manta Exchange completed a new round of financing, with participation from ABCDE Capital and others
Cryptocurrency exchange Manta Exchange announced the completion of a new round of financing, with participation from ABCDE Capital, UOB Venture Management, C² Ventures, and Ocular.

According to the RootData platform, Manta Exchange provides a copy trading engine supplemented by a risk management system. The platform caters to various copy trading preferences, including fixed amounts, proportional, and algorithmic auto-copy trading. The team's background includes key roles in well-known organizations such as Baidu, Huobi, KuCoin, OKX, Game Space, Longtu Korea, Bibox, and AAX Exchange. (Source link)

3. Phoenix Group plans to go public, aiming to raise $370 million
According to Investing.com, Abu Dhabi blockchain and crypto solutions provider Phoenix Group will conduct its initial public offering (IPO) on November 16 on the Abu Dhabi Securities Exchange, with an offer price set at 1.5 dirhams per share, totaling 1.36 billion dirhams ($370 million) in stock.

Additionally, the International Holding Company (IHC) recently acquired a 10% stake in Phoenix Group. (Source link)

III. DeFi

1. Uniswap ecosystem project Panoptic completed a $7 million seed round financing, led by Greenfield Capital
The DeFi protocol Panoptic, based on Uniswap, has raised $7 million in seed funding to help develop its decentralized trading platform for perpetual options. This round of financing was led by European cryptocurrency investment firm Greenfield Capital, with participation from HashKey, gumi Cryptos Capital (gCC), L1D, Heartcore Capital, Comma3, and Zee Prime Capital.

This funding will help Panoptic further develop the platform during the current beta testing phase before launching on the Ethereum mainnet and V2 product. (Source link)

2. Intent-based derivatives protocol IntentX completed a $2.5 million seed round financing, led by Magnus Capital
The intent-based derivatives trading protocol IntentX announced the completion of a $2.5 million seed round financing, led by Magnus Capital, with participation from Agnostic Fund, Prismatic Capital, MS2 Capital, Coral DeFi, Contango Digital Assets, Castle Capital, and others.

According to the RootData platform, IntentX utilizes various cutting-edge technologies, including LayerZero, cross-chain communication protocols, account abstraction, and zero-to-one breakthrough Request for Quote (RFQ) architecture, addressing key challenges in delivering on-chain derivatives. IntentX has released an Open Beta version, providing trading for over 180 perpetual currency pairs. (Source link)

3. Blockchain debt automation management platform Fence completed €1.8 million Pre-Seed financing, led by Semantic.vc
The blockchain debt automation management platform Fence based in Madrid, Spain, announced the completion of €1.8 million Pre-Seed financing, led by Semantic.vc, with participation from Crane Earth, Actyus, and a group of angel investors.

Fence is a SaaS platform designed to streamline operations between capital providers and asset originators by minimizing the need for low-value-added tasks. It leverages the power of blockchain technology by using smart contracts on the backend. These smart contracts automate the flow of capital and assets while ensuring the execution of specific terms in credit agreements, such as concentration limits or performance triggers. (Source link)

IV. Gaming

1. Web3 gaming protocol Saga completed $5 million seed round financing, led by Placeholder
Web3 gaming protocol Saga announced the completion of $5 million in seed round financing, led by Placeholder, bringing Saga's total funding to $13.5 million.

It is reported that Saga will launch its mainnet in January next year. Saga co-founder and CEO Rebecca Liao stated that Saga's main attraction lies in its scalability. In addition, Saga plans to first airdrop to developers participating in the testnet, followed by airdrops to community members. (Source link)

2. NFT gaming company Matr1x completed $10 million financing, co-led by Folius Ventures and SevenX
NFT gaming company Matr1x announced the completion of $10 million in Series A-2 financing, co-led by Folius Ventures and SevenX, with participation from ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab.

It is reported that Matr1x Fire is a mobile first-person shooter game where players can choose from a list of playable characters and compete in teams of five to eliminate enemies. (Source link)

V. Others

1. De.Fi has completed over $5 million in token sale financing, with participation from OKX Ventures and others
Web3 SocialFi and antivirus software De.Fi has completed a token sale financing worth over $5 million for DEFI tokens, with investors including HOF Capital, OKX Ventures, HTX Ventures, MEXC, as well as directors from Coinbase and Binance. (Source link)