Last week, there were a total of 39 public financing events in the cryptocurrency market, raising approximately 150 million dollars | Investment and Financing Weekly Report

Organizer: Cookies, RootData

According to incomplete statistics from RootData, during the period from May 6 to May 12, 2024, there were a total of 39 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $150 million.

From the perspective of track distribution, the projects that received financing were mainly concentrated in the infrastructure track, with a total of 17 financing events. Important projects include Web3 AI infrastructure Hemera, Bitcoin-native application platform Arch Network, and general proof aggregator Electron, among others.

In addition, the social track's Farcaster integrated social client Kiosk completed a $10 million financing round, led by Electric Capital, with participation from a16z Crypto, USV, and Variant Fund. Recommended reading: "Web3 content veteran Mirror acquired, interpreting its transformation journey and new social product Kiosk".

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

1. Infrastructure

1. DePIN project MetaPhone completes $1 million financing, investor JDI
DePIN project MetaPhone announced the completion of $1 million financing, with JDI as the investor. Both parties are committed to building the TON DePIN ecosystem, creating a broad decentralized marketing network, and promoting global adoption of Web3 across various fields. MetaPhone is collaborating with an advanced, leading 3C manufacturer to launch flagship devices. MetaPhone brings high-quality hardware, a simplified Android interface, and cutting-edge Web3 features, enabling users to handle everything they need on a single smartphone. (Source link)

2. Bitcoin development startup Botanix Labs raises a total of $11.5 million, with Polychain Capital participating
According to The Block, Bitcoin development startup Botanix Labs announced today that it has completed a total of $11.5 million in financing. This round was led by Polychain Capital, Placeholder Capital, Valor Equity Partners, ABCDE, and notable angel investors including Andrew Kang, Fiskantes, Dan Held, The Crypto Dog, Charlie Spears, Altcoin Sherpa, Dovey Wan, Jebus, Icebergy, Crypto ISO, Davis (also known as "KarbonBased"), Walt Smith, and Domo, the creator of the BRC-20 token standard, participated in the $8.5 million seed round that ended in April.

Additionally, Edessa Capital, Curiosity Capital, UTXO Management, XBTO Ventures, Blocmates, Eric Wall, and other investors participated in last year's pre-seed round.

It is reported that the funds will be used to build Spiderchain, the first fully EVM-equivalent Layer2 network on Bitcoin. Since 2022, Botanix Labs has been dedicated to creating a decentralized financial system native to Bitcoin. They launched an early testnet version of the EVM Layer2 protocol in November 2023, attracting over 200,000 active addresses and 10,000 experimental token releases. The first mainnet version of Spiderchain is expected to be released in early summer 2024. (Source link)

3. General zero-knowledge proof platform ZKM completes $5 million Pre-A round financing, led by OKX Ventures
General zero-knowledge proof platform ZKM has completed a $5 million Pre-A round financing, preparing to launch a Layer 2 network based on Bitcoin, led by OKX Ventures, with participation from Amber Group, Metis Foundation, Crypto.com, and others.

ZKM is a zero-knowledge proof-based network aimed at unifying blockchains and creating a settlement layer on Ethereum. As part of these efforts, ZKM is developing a special transaction processing network called "entangled rollups," starting with the upcoming L2, which the project claims is built on the Bitcoin blockchain. (Source link)

4. Solana ecosystem DePin project Ambient completes $2 million financing, led by Borderless Capital
Solana-based DePIN project Ambient announced the completion of $2 million in seed round financing, led by Borderless Capital, with participation from Solana Ventures, Parami Investors, Sonic Boom Ventures, Primal Capital, and others.

Ambient was founded in January this year and acquired the Algorand-based environmental data project PlanetWatch in March, deciding to migrate to Solana. Ambient plans to launch on the Solana testnet this summer, followed by the release of its own token to incentivize users to contribute data. (Source link)

5. Lava Foundation completes $11 million financing, with participation from Animoca Brands
Lava Foundation has completed $11 million in financing ahead of its network mainnet launch and token airdrop, with participation from Animoca Brands, Gate.io Ventures, CoinGecko Ventures, Polygon co-founder Sandeep Nailwal, Ash Crypto, CryptoLark, and media outlets Crypto Times Japan, Le Journal Du Coin, and The Rollup.

It is reported that the Lava Foundation is a newly established non-profit organization dedicated to developing the modular blockchain network Lava. The Lava network focuses on providing data access services through remote procedure calls (RPC) and is currently in the testnet phase, planning to officially launch the mainnet and LAVA token in the first half of 2024. The total supply of LAVA tokens is set at 1 billion, with a portion to be distributed to users through airdrops. (Source link)

6. General proof aggregator Electron completes $1 million seed round financing, with participation from Polygon co-founders
Zero-knowledge-based general proof aggregator Electron announced the completion of $1 million in seed round financing, with investors including Polygon co-founder Sandeep Nailwal, Gnosis co-founder Martin Köppelmann, Jaynti Kanani (former co-founder of Polygon), and Avail co-founder Anurag Arjun, LambdaClass, Zephyrus Capital, Blue7, Interop, Router Protocol, and others.

Electron stated that the funds will be used to build a universal ZK proof aggregation layer for Ethereum. According to Web3 asset data platform RootData, Electron Labs is a closed cross-chain messaging protocol for L1, using light clients and zero-knowledge proofs to maintain decentralization. (Source link)

7. Web3 infrastructure startup Hemera completes $2.6 million seed round financing, led by LIF Capital
Web3 infrastructure startup Hemera announced the completion of $2.6 million in seed round financing, led by LIF Capital and Nomad Capital, with participation from SNZ, Chainlink, Sending Labs, and ZetaChain founder and Microsoft senior vice president and AI expert Harry Shum.

It is reported that the company is building its decentralized protocol, which uses artificial intelligence to solve on-chain data query problems that plague multi-chain ecosystems. After completing this round of financing, Hemera also announced the launch of a public beta version of the Hemera protocol to support developers in creating Web3 large language model operating systems.

According to Web3 asset data platform RootData, Hemera protocol is the LLM OS for Web3, dedicated to solving fragmentation issues in modular ecosystems. Web3-optimized LLMs and account-centric indexing allow Hemera to interoperate on Web3, providing high-performance AI-Ready Data infrastructure and user-defined agents. (Source link)

8. Tether increases investment in payment solutions company CityPay.io
Tether Operations Limited announced today that it will strengthen its business in Eastern Europe through additional investment in payment solutions company CityPay.io.

It is reported that CityPay.io aims to provide customers and businesses with a seamless payment experience, enabling them to use cryptocurrency for payments at venues such as Wendy's and Radisson Hotels. Over the next two years, CityPay.io plans to launch groundbreaking e-wallet and card solutions, aiming to attract over 400,000 users. The company also intends to establish over 500,000 crypto payment points in designated expansion areas. (Source link)

9. ZK provable data privacy solution NuLink completes $1.6 million strategic financing, led by DWF Labs
ZK provable data privacy solution NuLink completed $1.6 million in strategic financing, led by DWF Labs, Poolz, and ViaBTC, with participation from CheckPush, 0xwilds, Coinvestor, 0xbull, Alpha Capital, MNST Platform, and Aza Ventures. Additionally, NuLink recently completed approximately $5.3 million in financing through Fjord's liquidity bootstrapping pool (LBP). NuLink's total financing has reached $11.4 million. (Source link)

10. Crypto startup Lagrange Labs completes $13.2 million financing, led by Founders Fund
According to Coindesk, crypto startup Lagrange Labs has completed $13.2 million in financing, led by Peter Thiel's Founders Fund, with participation from Archetype Ventures, 1kx, Maven11, Fenbushi Capital, Volt Capital, CMT Digital, Mantle, and Ecosystem. (Source link)

11. Gnosis commits to invest $2 million in Zeal
Ethereum sidechain Gnosis announced that it will collaborate with Zeal, the creator of a comprehensive digital wallet, to enhance the use of everyday cryptocurrencies. According to the team, "This collaboration involves exploring simple solutions for everyday self-custodied crypto transactions, similar to using cash. Gnosis has also committed to investing $2 million in Zeal, increasing its total funding to $9 million following the previous $7 million seed round." (Source link)

12. Full-chain Layer M infrastructure Bmaker announces pre-seed round financing from Singapore crypto fund Stratified Capital
Bmaker has built a permissionless verification channel based on the security of the Bitcoin Layer 1 network, supporting multi-chain asset transactions in seconds; and enabling staking, clearing, and redemption of BTC on the Layer 1 network.

It is reported that Bmaker aims to become a super intermediary protocol, serving as a decentralized bridge connecting mainstream public chains, L2, and financial products. (Source link)

13. Solana ecosystem zero-knowledge privacy protocol Arcium completes $5.5 million strategic financing, led by Greenfield Capital
Solana ecosystem zero-knowledge privacy protocol Arcium announced the completion of $5.5 million in strategic financing, led by Greenfield Capital. Coinbase, Heartcore Capital, Longhash VC, L2 Iterative Ventures, Stake Facilities, Smape Capital, and Everstake, as well as notable angel investors including Solana co-founder Anatoly Yakovenko and Monad co-founder Keone Han, participated.

It is reported that Arcium plans to use this round of financing to provide developers and blockchain applications with a trust-minimized and configurable cryptographic computing framework. (Source link)

14. Bitcoin-native application platform Arch Network completes $7 million seed round financing, led by Multicoin Capital
Bitcoin-native application platform Arch Network completed $7 million in seed round financing, led by Multicoin Capital, with participation from OKX Ventures, Big Brain Holdings, Portal Ventures, CMS Holdings, and Tangent.

According to Web3 asset data platform RootData, Arch introduces smart contract functionality directly into Bitcoin through a novel architecture that utilizes the Rust-based zero-knowledge virtual machine ArchVM, paired with a decentralized validator network. (Source link)

15. Cross-chain liquidity infrastructure company Euclid completes $600,000 Pre-seed round financing, led by Kahuna Network
Cross-chain liquidity infrastructure company Euclid completed $600,000 in Pre-seed round financing, led by tech investment firm Kahuna Network and angel investor Tomoaki Sato, with participation from Lavender Five, Andromeda, and Nibiru-related angel investors. The funds will be used for architecture and project development, as well as business development, auditing, and marketing. (Source link)

16. Decentralized settlement protocol Kima Finance completes a new round of financing, with participation from HVS Ventures
Decentralized settlement protocol Kima Finance announced the completion of a new round of financing, with participation from HVS Ventures. Specific financing amounts and valuation data have not been disclosed. It is reported that HVS Ventures will not only provide financial support but will also participate in its operations and strategic development.

Kima Finance utilizes its blockchain-based decentralized settlement protocol to provide a settlement layer supporting multi-ecosystem payments, peer-to-peer commerce, CeFi/DeFi services, cross-chain DEX exchanges, and omnichannel wallets, aiming to solve the fragmentation issues in the cryptocurrency and broader financial sectors. (Source link)

17. Cross-chain messaging protocol Glacis Labs completes $2.1 million seed round financing, led by Arrington Capital and Paper Ventures
Cross-chain messaging protocol Glacis Labs announced on the X platform the completion of $2.1 million in seed round financing, led by Arrington Capital and Paper Ventures, with participation from Bitscale Capital, Protagonist, Edessa Capital, and angel investors including Collion Myers, Luke Youngblood.eth, and Steven Kokinos. Valuation information has not been disclosed.

Additionally, according to Web3 asset data platform RootData, Glacis is a protocol that enables developers to simplify, secure, and manage their cross-chain applications. Developers are shifting from single-chain deployments to multi-chain deployments to cover as many users as possible. By leveraging Glacis to aggregate cross-chain general messaging protocols (GMP), such as Axelar, Wormhole, and LayerZero (commonly referred to as bridges), developers can define routing and security logic for their cross-chain applications. (Source link)

2. CeFi

1. Institutional-grade tokenization solution DwellFi completes $3 million seed round financing
Institutional-grade tokenization solution DwellFi announced the completion of $3 million in seed round financing, with participation from E1 Ventures, Stanford Blockchain, Hustle Fund, Blockchain Coinvestors, and Fortified Ventures.

It is reported that DwellFi primarily utilizes artificial intelligence, blockchain, and tokenization technology to assist its clients in asset management, ensuring that its cutting-edge solutions meet current regulatory standards. Its clients mainly include PE/RE/VC funds, hedge funds, fund managers, and limited partners. (Source link)

2. Crypto primary market trader Arbelos completes $28 million financing, led by Dragonfly
According to Fortune, Arbelos has completed $28 million in financing, led by Dragonfly, with participation from FalcolnX, Circle, Paxos, Polygon, and Deribit. Arbelos Markets will primarily focus on derivatives and over-the-counter trading for institutional participants, providing trading liquidity for companies such as hedge funds and venture capital firms, acting as counterparties for popular products like options and futures. This round of financing concluded in mid-2023. (Source link)

3. Web3 incubation service provider BlockBooster completes $1.5 million seed round financing, led by OKX Ventures
Web3 incubation service provider BlockBooster announced the completion of $1.5 million in seed round financing, led by OKX Ventures, with participation from Conflux Network, Neighbor Capital Series, IceRiver Venture, and Bitcoin Lab.

It is reported that BlockBooster's incubation model focuses on the infrastructure, social, and gaming sectors of Web3, providing comprehensive support for quality projects to improve their success rates and shorten development cycles. (Source link)

3. DeFi

1. UXUY completes $7 million Pre-A round financing, with participation from Binance Labs and Bitcoin Magazine
Bitcoin Asia 2024 kicked off, with the next-generation decentralized multi-chain trading platform UXUY, incubated by Binance Labs, announcing the completion of $7 million in Pre-A round financing. Since its establishment, its total financing has exceeded $10 million. UXUY is an important builder in the Bitcoin ecosystem, with over 100,000 traders using Bitcoin Lightning Network services through UXUY.

This round of financing for UXUY received investments from well-known institutions in Asia, North America, and Europe, including Binance Labs, JDI Ventures, UTXO Management (Bitcoin Magazine), Bixin Ventures, SWC Global, Comma3 Ventures, CMS Holdings, Matrix Partners, Satoshi Labs, Dewhales Capital, YBB Capital, GBV Capital, Web3 Vision, Pentos Ventures, Absoluta Digital, PAKA, DefinanceX, Dreamlabs, Greythorn Asset Management, NGC Ventures, Longrun Capital, Metalpha, and GSR. (Source link)

2. Intent-based cross-chain interoperability protocol Owlto Finance completes $8 million strategic round financing, co-led by Bixin Ventures and CE Innovation Capital
Intent-based cross-chain interoperability protocol Owlto Finance announced the completion of $8 million in strategic round financing, co-led by Bixin Ventures and CE Innovation Capital, with participation from Presto, Hailstone Labs, Skyland Ventures, Blocore, SNZ Capital, BESTO, Kroma, Coinseeker.co, Stratified Capital, X21 Digital, Maxx Capital, Incubate Fund, GSR, CatcherVC, and others. (Source link)

3. PenPad receives investment from crypto investment firm Presto Labs
Scroll ecosystem project PenPad announced on social media that it has received investment from the well-known crypto investment firm Presto Labs. As Scroll's native yield aggregator & Launchpad, PenPad has received strong support from Scroll and various ecosystem projects since its inception, and PenPad will become a long-term builder in the Scroll ecosystem. (Source link)

4. Cross-chain DEX Xswap completes strategic round financing, with participation from P2 Ventures
Cross-chain DEX Xswap recently announced the completion of strategic round financing on social media, with specific financing amounts not disclosed. Participating investors include P2 Ventures, MH Ventures, Maven Capital, OIG Capital, Cogitent Ventures, WWVentures, ZBS Capital, Pragma Ventures, Zephyrus Capital, Ivan Liljeqvist, Ash Crypto, Gainzy, Satoshi Stacker, and Michael Gu.

It is reported that XSwap is a cross-chain DEX based on Chainlink CCIP. (Source link)

5. Solana ecosystem tokenization platform AgriDex completes $5 million financing, led by Endeavor Ventures
Solana ecosystem tokenization platform AgriDex has completed $5 million in financing, led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and former Goldman Sachs and Citadel executives Hank Oberoi. AgriDex is expected to launch its platform and token AGRI in the third quarter of this year.

AgriDex co-founder and CEO Herry Duckworth stated that this round of financing was completed in the form of equity financing, with a valuation of $18 million. As part of the deal, Bill Cunningham, co-founder and CEO of Endeavor Ventures, also joined the AgriDex board.

It is reported that AgriDex is a Solana-based platform that tokenizes agricultural products and supports the trading of these tokenized goods. Each transaction on AgriDex is represented by the minting of non-fungible tokens (NFTs), which permanently record all product details, pricing, payments, and other information. (Source link)

6. Multi-chain staking platform StakedGain completes $500,000 seed round financing
Multi-chain staking platform StakedGain announced the completion of $500,000 in seed round financing, with investor information not disclosed. It is reported that StakeGain currently supports over 10 blockchains, including EVM-compatible chains and Layer 2 solutions, to help users achieve cross-chain DeFi staking and improve liquidity efficiency. (Source link)

7. AI-integrated DeFi platform 0xGen completes strategic financing, with participation from Principle68, X Labs, and others
AI-integrated DeFi platform 0xGen completed strategic financing, with investments from Principle68, Bella Protocol, Phoenix Chain, Tensor Investment Corporation, and X Labs. These investors will provide important advice and support for its development.

According to RootData platform, 0xGen utilizes large language models (LLM) to identify user intent and achieve task allocation through smart contracts, aiming to optimize the DeFi experience. Its unique Dex and cross-chain bridge aggregation technology helps users find the best trading paths while achieving cross-chain swaps. (Source link)

4. Gaming

1. Web3 game "Blade of God X" secures millions in financing, with participation from Delphi Ventures and OKX Ventures
Developed by Void Labs, the Web3 game "Blade of God X" announced it has secured millions in financing, with investors including Delphi Ventures, OKX Ventures, Yield Guild Games, Longhash Capital, Newman Capital, KingRiver Capital/Inevitable Game Funds, BreederDAO, Eden Ventures, Gabby Dizzon, and Giulio.

Additionally, according to Web3 asset data platform RootData, Blade of God X is a hardcore action role-playing game with a dark Nordic style, serving as the official sequel to the Blade of God series. In the game, players take on the role of great heroes from mythology, bearing the burdens of suffering, sorrow, and ordinariness. They embark on an adventure across the vast and mysterious Nordic lands, battling "sacrificers" who have lost their "fate," while seeking their own path to redemption. (Source link)

2. Web3 community-driven gaming ecosystem SlingShot DAO completes $3 million financing, with participation from Alphabit Fund
Web3 community-driven gaming ecosystem SlingShot DAO announced the completion of $3 million in financing, with participation from Alphabit Fund. According to Web3 asset data platform RootData, SlingShot helps coordinate community members to transform pure ideas into creativity, which in turn transforms into real experiences. Community members use the SlingShot application interface to submit ideas for new and exciting games and experiences, voting on their favorite game ideas displayed on the leaderboard. They can request rewards for their participation (submitting ideas and voting). Members can also build - talented individuals, small teams, and studios receive support from the SlingShot DAO Treasury to build winning ideas. (Source link)

3. Web3 game developer Seeds Labs completes $12 million seed round financing, with participation from Solana Foundation
Web3 game developer Seeds Labs announced the completion of $12 million in seed round financing, with participation from Blizzard Fund under Avalanche, Solana Foundation, Krust, Hashkey Capital, UOB Ventures, Signum Capital, IVC, and Emoote. (Source link)

4. Web3 game BAC Games announces completion of $1.5 million seed round financing, with participation from Hash Global
Web3 game BAC Games announced the completion of $1.5 million in seed round financing. The investment institutions in this round include Hash Global, Matr1x, Gate Ventures, Stratified Capital, W Labs, and Nothing Research. Individual investors participating in this round include: Ash, BTCdayu, Joseph A.C. Lloyd (Head of Gaming Research at Delphi Digital), Laobai (ABCDE Investment & Research Partner), Piers Kicks (Founding Partner of Delphi Ventures), Saku (Co-founder & CEO Matr1x), and Victor (Head of WEB3 at GGV).

According to Web3 asset data platform RootData, BAC Games is a Web3 racing game based on the Blast blockchain, emphasizing social interaction and teamwork, using the $BAC token for rewards. (Source link)

5. NFT

1. Web3 platform Galaxis completes $10 million financing, with participation from Chainlink
Singapore Web3 platform Galaxis announced that it has completed $10 million in financing ahead of its token issuance. Participants in this round of financing include Chainlink, ENS, Rarestone Capital, Taisu Ventures, and ENS co-founder Nick Johnson.

It is reported that Galaxis claims to be a "NFT utility platform in the post-speculation era," having previously launched NFT series for celebrities such as DJ Steve Aoki and actor Val Kilmer. The platform has sold over 225,000 NFTs, generating over 32,000 ETH (approximately $100 million) in sales on the secondary market, and is currently preparing for "mass distribution." (Source link)

6. Social

1. Farcaster integrated social client Kiosk completes $10 million financing, led by Electric Capital
Farcaster integrated social client Kiosk announced on the X platform that it has completed $10 million in financing, led by Electric Capital, with participation from a16z Crypto, USV, and Variant Fund.

Additionally, according to Web3 asset data platform RootData, Kiosk is a Farcaster client that helps creators build a community from 0 to 1 within the app. Creators can share media-rich ideas with their social graphs, allowing them to be minted as NFTs, gathering like-minded collectors and collaborators in the channel, establishing custom channel economies such as tips and distribution, and chatting with their community—all without leaving the app. (Source link)

7. Others

1. OKX Ventures leads $1.5 million seed round financing for Web3 venture studio BlockBooster
Web3 venture studio BlockBooster announced the completion of $1.5 million in its first round of financing. This round was led by OKX Ventures, with participation from Conflux Network, Neighbor Fund, IceRiver Venture, Bitcoin Lab, and others. Blockbooster is a venture studio focused on Asia, dedicated to deeply incubating and investing in quality projects in the Web3 infrastructure, social, and gaming sectors, and organizing a series of activities around industry builders.

OKX Ventures partner Jeff Ren stated, "BlockBooster is an emerging Web3 venture studio with significant influence in Asia, supported by a group of outstanding Web3 entrepreneurs and builders. We are excited to support BlockBooster's expansion and look forward to continuing to work with their team. Our shared goal is to identify and nurture high-quality Web3 projects to drive industry growth." (Source link)

2. Web3 music startup Star Nest completes $6 million Pre-A round financing, led by Chuangqi International Limited
Hong Kong Web3 music startup Star Nest announced that it has completed $6 million in Pre-A round financing, led by Chuangqi International Limited, a wholly-owned subsidiary of the publicly listed company Guofu Innovation Limited. Star Nest will collaborate with Armonia Meta Chain to develop a metaverse game Star Nest SpaceStar that includes music, role-playing, and social features.

Additionally, Star Nest plans to launch its project representative NEST in the third quarter of 2024, which will receive 2.1 billion NEST tokens tailored for the project. Star Nest will build a more complete token economy for the music industry through the NEST token, which will be widely used for purchasing concert tickets, chain game collaborations, metaverse consumption, governance voting, and other aspects. (Source link)