Last week, there were a total of 27 public financing events in the cryptocurrency market, with the CeFi, DeFi, and GameFi sectors thriving | Investment and Financing Weekly Report

Organizer: Biscuit, RootData

According to incomplete statistics from RootData, during the period from January 8 to January 14, 2024, there were a total of 27 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $161.78 million.

From the perspective of track distribution, the projects that received financing are mainly distributed in the CeFi, DeFi, and GameFi tracks. Popular projects include the Web3 interoperability infrastructure PolyHedra, the decentralized derivatives protocol Particle, and the AAA game SkyArk Chronicles. The gamified SocialFi platform Eeesee, the smart trading platform TrendX, and the cross-chain DeFi protocol Entangle also gained attention.

In addition, the Layer2 cross-chain bridge Orbiter Finance disclosed that it completed Series A financing last year and plans to launch a native token this year. CoinShares has exercised its option to acquire Valkyrie Funds LLC, whose spot Bitcoin ETF (Valkyrie Bitcoin Fund) has been approved.

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

I. Infrastructure

1. Bitcoin Layer 2 network Bitfinity completes $7 million token financing at a valuation of $130 million, with participation from Polychain Capital and others
The Bitcoin Layer 2 network Bitfinity, based on Internet Computer, has completed $7 million in financing at a valuation of $130 million. This round of financing was participated by Polychain Capital, ParaFi Capital, Warburg Serres, Dokia Capital, and Draft Ventures.

Max Chamberlin, co-founder of Bitfinity, stated that the funding was achieved in two parts—approximately $1 million in a seed round in 2021, and another round completed last June, both of which were token financings. At the time of the second financing, Bitfinity's valuation had reached $130 million. Currently, Bitfinity is in the testnet phase and plans to launch its mainnet later this month or in early February. (Source link)

II. CeFi

1. Cryptocurrency mining company Argo completes approximately $10 million financing through the placement of 38 million shares
Cryptocurrency mining company Argo Blockchain announced the completion of a placement of 38 million shares, raising £8 million (approximately $10 million) in total revenue. The price was set at 20.5 pence per share, representing a 1% discount to the 30-day weighted average price (VWAP) and an 11% premium to the 45-day VWAP. The new funds will be used for working capital, debt repayment, and other corporate purposes. (Source link)

2. Currency infrastructure B2B trading market AbbeyCross completes $6.5 million financing
Currency infrastructure B2B trading and compliance market AbbeyCross announced the completion of a new round of financing totaling $6.5 million, led by Valar Ventures, with participation from BNY Mellon, Third Prime, and Gaingels. Third Prime had previously led a $2.47 million seed round financing for the company in August 2022. AbbeyCross plans to use the latest financing to further develop and deploy its ABX Sync innovative platform. (Source link)

3. Cryptocurrency custodian Finoa completes $15 million financing, led by Maven 11 Capital and others
Cryptocurrency custody and staking service provider Finoa has completed $15 million in financing, led by Maven 11 Capital and Balderton Capital, with participation from Blue Bay Ventures, Signature Ventures, Coparion, and Venture Stars. Christopher May, co-founder and co-CEO of Finoa, stated that this round of equity financing began in June last year and ended in December. (Source link)

4. Cross-chain DeFi protocol Entangle announces completion of $4 million financing, with participation from Big Brain Holdings and others
Cross-chain DeFi protocol Entangle announced the completion of $4 million in seed and private round financing, with participation from Big Brain Holdings, Launch Code Capital, LBank Labs, Skynet EGLD Capital, Cogitent Ventures, Owl Ventures, Faculty Group, Seier Capital, and others. (Source link)

5. LK Venture announces strategic investment in Bitcoin L2 infrastructure MAP Protocol
LK Venture, a cryptocurrency investment and research institution affiliated with Hong Kong-listed company Blueport Interactive (08267.HK), announced a strategic investment in Bitcoin L2 infrastructure MAP Protocol through its Bitcoin network ecological investment management fund BTC NEXT. (Source link)

III. DeFi

1. Solana ecosystem DeFi platform Saros completes $3.75 million private round financing, with participation from Solana Ventures and Hashed
According to official news, the Solana ecosystem DeFi platform Saros has completed $3.75 million in private round financing, with participation from Solana Ventures, Hashed, Spartan, Arche Fund, and other industry leaders such as GBV, Assym, IF, Genblock, K300, Cryptomind, Kyros, and Evernew. This funding will be used for the project's expansion plans and the development of Saros super applications. (Source link)

2. DeFi lending service company Altitude completes $6.1 million seed round financing
DeFi lending service company Altitude announced the completion of $6.1 million in seed round financing, with participation from Tioga Capital, New Form Capital, Flow Ventures, UDHC, GSR, Owl Ventures, and others. The Altitude protocol automatically manages collateralized debt by real-time adjusting the loan-to-value (LTV) ratio, maximizing capital efficiency while maintaining a secure liquidation risk status. Altitude has successfully completed on-chain testing and will soon enter a closed testing phase. (Source link)

3. Decentralized risk hedging strategy management company Umoja completes $2 million financing
Decentralized risk hedging strategy management company Umoja has completed $2 million in financing, with participation from Quantstamp, Blockchain Founders Fund, Orange DAO, Hyperithm, Psalion, Blizzard (Avalanche), and others. (Source link)

4. RWA lending platform Kasu completes $3 million seed round financing, led by Woodstock and others
According to GlobeNewswire, RWA lending platform Kasu announced the completion of $3 million in seed round financing, led by Woodstock, Morningstar Ventures, and Faculty Group, with participation from Cypher Capital, Matterblock, Andromeda Capital, NxGen, Rarestone Ventures, Asteroid Capital, and Optic Capital. The funds from this round will be used to advance the Kasu innovative platform, optimize corporate cash flow, reduce credit risk, and provide risk management and returns. (Source link)

5. Decentralized derivatives protocol Particle completes seed round financing, led by Polychain Capital
Decentralized derivatives protocol Particle has completed seed round financing, led by Polychain Capital, with participation from Nascent, Inflection, Neon DAO, Naveen Jain, Arthur Hayes, DCF God, Sam Williams, Kalos, Richard Ma, Palmer, vxCozy, and others. The specific financing amount has not been disclosed. (Source link)

IV. GameFi

1. ArenaX Labs completes $6 million financing, led by Framework Ventures
AI Arena developer ArenaX Labs announced the completion of $6 million in financing, which will be used to develop a PvP fighting platform, led by Framework Ventures, with participation from SevenX Ventures, FunPlus/Xterio, and Moore Strategic Ventures. AI Arena allows users to train their own AI characters for combat, with the outcome of each battle depending on the player's skills during training, aiming to help users understand how artificial intelligence operates and learns. (Source link)

2. Gamified NFTFi and SocialFi platform Eeesee completes $2.85 million financing, with participation from SevenX Ventures and others
Gamified NFTFi and SocialFi platform Eeesee announced the completion of $2.85 million in financing, including $1.1 million in seed round financing and $1.75 million in private financing, with investors including SevenX Ventures, Maven Capital, MetaBros, Contango Digital Assets, BasementDAO, and others. Eeesee's native token ESE is planned to be launched in the first quarter. (Source link)

3. AAA game SkyArk Chronicles completes $15 million financing, led by Binance Labs
The AAA game SkyArk Chronicles has completed $15 million in financing, led by Binance Labs, with participation from VividThree, GuildFi, Jambo, BreederDAO, and LayerZero CEO Bryan Pellegrino, Tangent Ventures co-founder Wangarian, and Story Protocol CEO S.Y. Lee, among others.

SkyArk Chronicles is a Triple A fantasy JRPG game featuring interoperable NFTs. It is a trilogy consisting of two GameFi titles ("House of Heroes" and "Legends Arise") and one SocialFi Metaverse ("Mirrorverse"). Its developer, SkyArk Studio, is a blockchain game studio based in Singapore, aiming to replicate the success of Hong Kong unicorn Animoca by establishing an ecosystem for incubating crypto projects and leveraging SkyArk Studio's proprietary resources. (Source link)

V. Others

1. Trend tracking and smart trading platform TrendX announces $1 million seed round financing
AI-driven Web3 trend tracking and smart trading one-stop platform TrendX announced it has secured $1 million in seed round financing, with participation from renowned institutions including Foster Labs, Web3Link, Coresky, Tripod Capital, CatcherVC, and MIIX Capital. This funding will drive core technological advancements for the platform and strengthen TrendX's position in Web3 trend tracking and AI smart trading.

TrendX is an AI-driven Web3 trend tracking and smart trading one-stop platform that utilizes large language models and AI technology to identify market trends and seamlessly integrates with smart trading, aiming to become the next-generation AI trading platform for the future 1 billion users entering Web3 to check projects, find hotspots, observe trends, engage in primary investments, and conduct secondary trading. (Source link)

2. Ethereum aggregation betting protocol Rocket3 has completed $1.2 million seed round financing and is launching its first community fundraising round
The on-chain aggregation betting protocol Rocket3 will conduct its first community fundraising round on January 8, 2024, at 21:00 (UTC+8). This fundraising will be used for the protocol's multi-chain development and market promotion.

Rocket3 aims to facilitate on-chain aggregated interactions for the ETH mainnet and other networks to help users save up to 80% on gas fees. Prior to this, Rocket3 completed $1.2 million in Pre-seed round financing, jointly completed by SOSV, Bex Venture, and three other institutions. (Source link)

3. Blockchain procurement platform Maalexi completes $3 million Pre-A round financing, led by Global Ventures
Blockchain procurement platform Maalexi announced the completion of $3 million in Pre-A round financing, led by venture capital firm Global Ventures. Maalexi aims to simplify the procurement process, primarily targeting small and medium-sized agricultural buyers, providing services such as digital contracts, document blockchain verification, and AI checks to manage trade risks and enhance financial accessibility. (Source link)

4. OKX Ventures announces investment in Web3 developer community BeWater