Last week, there were a total of 20 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 27 to December 3, 2023, there were a total of 20 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $293.95 million.

From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure, DeFi, and social entertainment tracks. Notable projects include Wormhole, which completed a new round of financing of $225 million at a valuation of $2.5 billion and announced the establishment of Wormhole Labs.

In addition, the Web3 venture capital firm MarsX Capital announced the establishment of a $100 million initial fund. The Web3 IoT project IOTA launched a $100 million fund aimed at tokenizing real assets through the Ethereum Virtual Machine. The decentralized payment protocol COTI announced the launch of the COTI Foundation.

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

I. Infrastructure

1. Decentralized physical infrastructure provider Grove completes $7.9 million financing, Druid Ventures participates
Decentralized physical infrastructure (DePIN) provider Grove (formerly Pocket Network) has raised $7.9 million from Fidelity's Avon Ventures, Placeholder Capital, and Druid Ventures. Grove will use this funding to establish new partnerships and promote the mainstream adoption of DePIN. (Source link)

2. LK Venture under Blueport Interactive announces investment in UniSat, Element reaches comprehensive strategic cooperation with UniSat
Hong Kong-listed Blueport Interactive (08267.HK) announced that its crypto investment and research institution LK Venture has made a strategic investment in the Bitcoin open-source wallet and Ordinals/BRC-20 infrastructure and service provider UniSat through the Bitcoin network ecological investment management fund BTC NEXT.

At the same time, Element has also reached a comprehensive strategic cooperation with UniSat to develop BRC20 inscription tokens and NFT trading markets that support Bitcoin Ordinals for community users. (Source link)

II. CeFi

1. Decentralized Bitcoin mining pool Mummolin completes $6.2 million seed round financing, Block CEO Jack Dorsey leads
The decentralized Bitcoin mining pool Mummolin, based in Wyoming, announced the completion of a $6.2 million seed round financing led by Block CEO Jack Dorsey, with other notable investors including Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and Bitcoin Opportunity Fund. This funding will promote the launch of the OCEAN pool.

The OCEAN pool is the first transparent and non-custodial platform where miners can receive block rewards directly from coinbase transactions, eliminating the risks associated with traditional pools withholding payments from individual miners. (Source link)

2. Singapore remittance company Wind completes $3.8 million financing, Global Founders Capital and Spartan Group lead
Singapore remittance company Wind, based on the Polygon blockchain, announced the completion of $3.8 million in Pre-Seed round financing, led by Global Founders Capital and Spartan Group, with participation from Saison Capital, Alumni Ventures, and Tiny VC.

It is reported that Wind is a non-custodial wallet, meaning the company does not hold customer funds, allowing users to manage their own assets, with fees less than 0.3% of the transaction value. Since its establishment in 2022, Wind's transaction volume has approached $3 million. In September, it also received a grant from the XRP Ledger accelerator program launched by Tenity and Ripple. In 2024, Wind will focus on stable user growth in existing markets while expanding its network. The company plans to increase the number of countries where customers can send and receive funds. (Source link)

3. Crypto tax service company Waltio completes nearly $2 million financing
Crypto tax service company Waltio announced the completion of a new round of financing of €180,000 (approximately $1.97 million), with participation from Crédit Agricole Capital Développement, Stake Capital founder Julien Bouteloup, Budget Insight co-founder Clément Coeurdeuil, and other angel investors.

Waltio primarily helps users track digital asset portfolios to provide tax calculation, reporting, and planning services. The new funds will be used to advance software development, enhance tax compliance solutions, expand internationally, and integrate artificial intelligence. (Source link)

4. Web3 financial company Acctual completes $3.85 million seed round financing, Third Prime and IDEO lead
Crypto financial operating system company Acctual completed $3.85 million in seed round financing at a post-money valuation of $15 million, co-led by Third Prime and IDEO, with investors including Alchemy Ventures, OrangeDAO, Soma Capital, Messari founder Ryan Selkis, and Nium founder Prajit Nanu.

Acctual will provide billing management software for crypto startups to ensure payments to the correct vendors or crypto wallet addresses, monitor and approve invoices, and sync crypto invoices and payments to Quickbooks or Zero to reduce fraud and spam. (Source link)

5. Hong Kong Web3 incubator Web3Labs completes over $2 million strategic financing, Foresight Ventures, VCB Technology, etc. participate
Hong Kong Web3.0 incubator Web3Labs announced the completion of over $2 million in strategic financing, with participation from Foresight Ventures, VCB Technology, Waterdrip Capital, Cipholio Ventures, NextGen Venture Partners, Qtum Foundation, and others.

It is reported that Web3Labs is a one-stop entry for Web3.0 entrepreneurship, aiming to respond to the policy declaration of the Hong Kong SAR government by supporting global Web3 enterprises to settle in Hong Kong through landing services, investment acceleration, technological cooperation, and compliance assistance. It currently has offline incubators in Hong Kong, Singapore, South Korea, Hangzhou, and Beijing. (Source link)

III. DeFi

1. Wormhole completes new round of $225 million financing at a $2.5 billion valuation and announces the establishment of Wormhole Labs
According to official news from Wormhole, the developer platform focused on cross-chain communication, Wormhole announced the successful completion of a new round of financing of $225 million, with the company's valuation reaching $2.5 billion. This round of financing attracted participation from well-known investment institutions such as Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, and Arrington Capital. With the influx of funds, Wormhole also announced the establishment of Wormhole Labs, aimed at promoting the development and application of cross-chain technology.

Since its establishment in 2021, Wormhole has become a core infrastructure for many major blockchains and projects, processing over $35 billion in cross-chain fund transfers and over 750 million cross-chain messages. Dan Reecer, Chief Operating Officer of the Wormhole Foundation, stated that the company will continue to promote Web3 infrastructure construction and launch more innovative products next year to continue supporting the development of the Wormhole developer ecosystem. (Source link)

2. Perpetual contract exchange MYX completes $5 million seed round financing, Sequoia China leads
Decentralized perpetual contract exchange MYX, incubated by D11 Labs, announced the completion of $5 million in seed round financing at a valuation of $50 million, led by HongShan (formerly Sequoia China), with participation from Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures, and others. The funds raised in this round will be used to accelerate MYX's technological innovation and market expansion, promoting the rapid launch and scaling of its mainnet products.

At the same time, MYX announced that it will soon launch a Treasure Hunting Event to incentivize and reward early supporters in the community, which will continue until the TGE ends, with the first phase about to begin, and consideration is being given to deploying key early storyline tokens on the BRC-20 network. (Source link)

3. DeFi yield platform Coinchange completes $10 million financing, G1.VC leads
DeFi yield platform Coinchange completed $10 million in financing, led by G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, and Atoia Ventures, with participation from Mintfox and others.

It is reported that Coinchange allows its business users to trade and earn digital asset yields as a service through its Earn API, which is a risk management platform supporting Bitcoin, Ethereum, and all major stablecoins, providing stable returns.

4. Fixed income protocol Term Structure completes $4.25 million seed round financing, Cumberland DRW leads
Non-custodial fixed income protocol Term Structure announced the completion of $4.25 million in seed round financing, led by Cumberland DRW, with participation from Decima Fund, HashKey Capital, Longling Capital, and MZ Web3 Fund. To date, its total financing amount has reached $8 million.

According to RootData, Term Structure is a non-custodial fixed income protocol, and its current testnet has been launched on Ethereum Goerli. The protocol has two core markets: in the primary market, users can place orders to borrow or lend tokens at fixed interest rates and fixed maturity dates. Once the order is matched, the borrower will receive the borrowed tokens and must repay the debt before the maturity date to recover the collateral. Lenders will receive fixed income tokens, which can be redeemed for principal and interest at maturity. In the secondary market, users can buy and sell fixed income tokens through an order book trading system. (Source link)

5. Decentralized identity solution Gataca completes €1.3 million ($1.41 million) strategic financing, Signature Ventures participates
Decentralized identity management solution Gataca, based in Madrid, Spain, completed €1.3 million (approximately $1.41 million) in strategic financing, with participation from Signature Ventures, U.S. fund SBXi, and a group of early supporters of the company.

This round of financing will be used for Gataca to develop new products and features and expand its team. In addition, Signature Ventures has joined Gataca's equity structure as a new financial partner. (Source link)

IV. Social Entertainment

1. Web3 entertainment company AnotherBall completes $12.7 million seed round financing, Hashed and ANRI lead
According to a press release, Web3 entertainment company AnotherBall announced the completion of $12.7 million in seed round financing, led by ANRI and Hashed, with participation from Global Brain, Globis Capital Partners, Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote, and several individual investors including Crunchyroll founder Kun Gao.

It is reported that AnotherBall has been actively involved in technology projects such as "Ailis" and "SAI by IZUMO." IZUMO is currently developing a platform that enables creators around the world to connect with fans and monetize their content. The beta version of the platform is scheduled to be released in the first quarter of 2024 (January to March), with a full public release expected later this year.
According to data from the crypto data platform RootData, AnotherBall previously completed $2.2 million in angel round financing, with participation from Polygon founders and others. (Source link)

2. Web3 video streaming platform Rad completes new round of financing, Ayre Ventures leads
Web3 video streaming platform Rad completed a new round of financing, led by Ayre Ventures, with the specific financing amount not disclosed. Rad also announced that it has incorporated the use of the BSV blockchain into its transactional video on demand (TVOD) and the publishing and purchasing processes of open or limited edition NFT videos.

In addition, Rad has integrated with the mobile and web wallet HandCash, allowing users to connect to applications, games, and websites to stream funds directly to facilitate payments. Users can create and purchase content on Rad without a browser plugin, and the company is scalable to other payment forms.

Currently, Rad supports various devices including PlayStation 5, PSVR, Oculus Quest, iOS, and Google TV. (Source link)

3. Web3 social protocol Inspect completes new round of financing, Dewhales participates
Web3 social data protocol Inspect announced the completion of a new round of financing, with the specific amount not disclosed. This round of financing was participated by Dewhales, BasementDAO, Morningstar Ventures, Kairon Labs, Optic Capital, Rarestone Ventures, Maven Capital, and others.

Inspect stated that it is transforming the dynamic market into a user-friendly platform equipped with real-time analytics and insights accessible to everyone. Inspect's ecosystem partners include Mocaverse, MoonPay, MultiversX, Avalanche, Ronin, Axie Infinity, Polygon Ventures, Algorand Technologies, Floor Protocol, Cardano Community, and OKX Web3 wallet. (Source link)

4. Polygon-based fan engagement platform MITH completes $3.5 million seed round financing, Point72 Ventures leads
Fan engagement platform MITH, based on the Polygon blockchain, announced the completion of $3.5 million in seed round financing, led by Point72 Ventures and A+E Networks, with participation from Warner Music Group, CMT Digital, Winklevoss Capital, Synergis Capital, Near Foundation, 4RC, and Alpha Praetorian Capital. (Source link)

V. Others

1. Web3 consumer application Setter completes $5 million seed round financing, a16z leads
Web3 consumer application Setter completed $5 million in seed round financing, led by a16z, with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures, and retired tennis superstar Serena Williams. Setter plans to help brands innovate ways to promote exclusive products and provide customers with limited edition products. Setter aims to address "the complexity and unfriendliness of current wallet technology," providing a more seamless Web3 experience for more users. (Source link)