Last week, there were a total of 24 public financing events in the cryptocurrency market, with a cumulative financing of approximately 161 million USD | Investment and Financing Weekly Report

Organizer: Cookies, RootData

According to incomplete statistics from RootData, during the period from May 13 to May 19, 2024, there were a total of 24 publicly disclosed financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $161 million.

From the perspective of sector distribution, there was an explosion of financing events in infrastructure, DeFi, and gaming. Notable projects include the IoT project based on Polkadot, peaq, the order flow aggregator Shogun, the anti-witch blockchain network Humanity Protocol, the high-frequency algorithm trading firm and market maker Raven, and the decentralized information market platform Polymarket, among others.
The crypto venture capital firm Haun Ventures announced its participation in a new round of financing for cryptocurrency custody company Fireblocks and on-chain data tracking and analysis platform Chainalysis on its social media platform. It is reported that The Information disclosed in April that Haun Ventures had acquired a portion of Chainalysis shares through the secondary market. (Source link)

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

1. Infrastructure

1. Web3 AI platform ChainML completes $6.2 million seed round extension financing, led by Hack VC
The Web3 AI platform ChainML raised $6.2 million in its seed round extension financing and launched a proxy base layer named Theoriq. This round of financing was led by Hack VC, with participation from Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, Hypersphere Ventures, and Alumni Ventures.

ChainML is a scalable, censorship-resistant protocol for machine learning and related complex data-driven computing in Web3. ChainML collaborates with leading Web3 protocols as a design partner to apply machine learning to DeFi, gaming, social, and data infrastructure. (Source link)

2. Fully Homomorphic Encryption chip provider Niobium completes $5.5 million seed round financing, led by Fusion Fund
Fully Homomorphic Encryption chip provider Niobium announced the completion of $5.5 million in seed round financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital.

Niobium is building fully homomorphic encryption (FHE) accelerator chips and commercializing them. The new funds will be used to explore FHE's commercial applications in healthcare, finance, blockchain, and other industries, with plans to showcase the solution and launch pilot projects in the fourth quarter of this year. (Source link)

3. OKX Ventures leads Pre-A round financing for browser extension wallet UniSat Wallet
Inception Capital announced on platform X that it has participated in the Pre-A round financing of the browser extension wallet UniSat. OKX Ventures led the Pre-A round financing for UniSat Wallet, with participation from SWC Global, Vitalbridge Capital, and ABCDE. (Source link)

4. Stacks ecosystem startup Zest announces completion of $3.5 million seed round financing, led by Tim Draper, with participation from Binance Labs and others
Stacks ecosystem startup Zest announced the completion of $3.5 million in seed round financing, led by Tim Draper, with participation from Binance Labs, Flow Traders, Trust Machines, and others. This is the first investment by Binance Labs in a Stacks ecosystem project, indicating that Binance Labs is beginning to strengthen its focus on BTC Layer2. Tim Draper has previously invested in SpaceX, Tesla, and Coinbase. (Source link)

5. Zero-knowledge project Hylé completes $2.6 million new financing, led by Framework Ventures
Zero-knowledge project Hylé completed $2.6 million in new financing, led by Framework Ventures, with participation from Cherry Crypto, Fabric Ventures, First Capital, and Heartcore Capital.

The new financing brings Hylé's total funding to $3.4 million, with the company's total cash reaching approximately $5 million. The company intends to use this funding to quickly launch its mainnet and recruit backend experts and protocol engineers to build other verification solutions, such as Polygon zkEVM, Cairo, and Noir. The proof solutions use cryptographic techniques to verify projects without disclosing their sensitive information. (Source link)

6. Layer3 network developer Anomaly completes $1.45 million Pre-Seed round financing, with participation from Decasonic and others
Anomaly, an AI zero Gas Layer3 network developer focused on gaming and Telegram users, raised $1.45 million in an oversubscribed Pre-Seed round financing, with participation from Decasonic, Shima Capital, BreakOrbit, and Round13 Capital. Additionally, Web3 luminary and The 333 Club founder Zeneca also made a strategic investment to support Anomaly's vision.

According to Web3 asset data platform RootData, Anomaly is an AI-driven zero Gas Layer 3 gaming platform powered by Arbitrum Orbit and utilizing Gelato's Rollup-as-a-Service (RaaS). The chain will adopt the native gas token $nom to ensure smooth navigation between gaming domains. (Source link)

7. Anti-witch blockchain network Humanity Protocol completes $30 million new round of financing at a $1 billion valuation, led by Kingsway Capital
The anti-witch blockchain network Humanity Protocol announced the completion of a new round of financing totaling $30 million at a $1 billion valuation, led by Kingsway Capital, with participation from Animoca Brands, Blockchain.com, and Shima Capital. Founder Terence Kwok stated that the company also raised approximately $1.5 million from influential figures in the crypto space within the "KOL" community.

Humanity Protocol is an anti-witch blockchain network that provides developers with a unique human verification mechanism and offers users complete ownership of their data and identity. (Source link)

8. Web3 infrastructure company Chainstack announces completion of $6 million financing
Singapore-based Web3 infrastructure company Chainstack announced that it has secured $6 million in new investment from investors including SBI Ven Capital, Sygnum, Azimut Group, and Unicorn Factory Ventures.

Additionally, Web3 asset data platform RootData indicates that Chainstack is a Web3 infrastructure-as-a-service provider that supports access to blockchain platforms. The core product offered by Chainstack is high-performance enterprise-grade full nodes on supported blockchains. Developers building blockchain applications can leverage Chainstack to deploy and manage their application's blockchain nodes and connect them to the application. (Source link)

2. CeFi

1. Bitcoin mining hash rate ETF company Standardhash completes multi-million dollar angel round financing
Bitcoin mining investment industry hash rate ETF company StandardHash announced the completion of multi-million dollar angel round financing. StandardHash founder Lv Lei has over 10 years of experience in the Bitcoin mining industry, and several industry OGs are among the angel investors in this round.

Standardhash is committed to creating a hash rate "ETF" for the Bitcoin mining investment industry, prioritizing standards and compliance to provide reliable and efficient investment channels for Bitcoin hash rate investors, making hash rate more valuable. (Source link)

2. Crypto proprietary trading firm Raven completes $2.7 million seed round financing, led by Hack VC
Crypto proprietary trading firm Raven, founded by former Wintermute employees, announced the completion of $2.7 million in seed round financing, led by Hack VC, with participation from Wintermute Ventures and several undisclosed angel investors.

The company's co-founder stated that the company began this round of financing last November and completed it last month. This is an equity financing round with no token plans, and this round of financing has valued Raven at $25 million. (Source link)

3. DeFi

1. Decentralized prediction market Polymarket completes a total of $70 million in two rounds of financing, with the latest round led by Founders Fund
Decentralized prediction market Polymarket completed $45 million in Series B financing, led by Founders Fund.

Additionally, General Catalyst previously helped the company raise $25 million in Series A financing, bringing Polymarket's total raised in two rounds to $70 million, with supporters including Ethereum co-founder Vitalik Buterin. (Source link)

2. Solana ecosystem DEX project Zeta Markets completes $5 million strategic financing, led by Electric Capital
Solana ecosystem DEX project Zeta Markets completed $5 million in strategic financing, led by Electric Capital, with participation from Digital Asset Capital Management (DACM), Selini Capital, and Airtree Ventures. Angel investors include Solana's Anatoly Yakovenko, Helius's Mert Mumtaz, Tensor's Richard Wu, and Pyth's Genia Mikhalchenko. (Source link)

3. Tokenized reinsurance RWA platform Re completes $7 million new round of financing, led by Electric Capital
Tokenized reinsurance RWA platform Re completed $7 million in new financing, led by Electric Capital. It is reported that the project previously completed $14 million in seed round financing at the end of 2022, and Re aims to support $200 million in premiums by the end of this year.

Re is a blockchain-driven reinsurance company that allows qualified investors to back real-world insurance policies and companies. It establishes a decentralized reinsurance market on Avalanche's C-Chain and Subnet, providing a decentralized global insurance trading layer that transparently addresses any type of insurance risk to regulators, partners, and investors. (Source link)

4. Fuel network DeFi protocol Spark completes $1.5 million pre-seed round financing, with participation from P2 Ventures and others
Fuel network DeFi protocol Spark announced the completion of $1.5 million in pre-seed round financing, with participation from P2 Ventures, Fuel, Curiosity Capital, chainyoda, and Unicorn Factory Ventures.

Spark is a perpetual contract order book trading platform based on a fully collateralized oracle built on the Fuel Network. It introduces a multi-collateral cross-margin system that supports diversified asset deposits and complex liquidation protocols for risk management. Spark features a high-performance order book and advanced tools to facilitate non-custodial interactions, attracting developers and traders seeking flexibility and enhanced trading capabilities. (Source link)

5. OKX Ventures officially announces investment in Pencils Protocol
OKX Ventures announced its investment in Pencils Protocol. Pencils Protocol is currently the largest native DeFi project in the Scroll ecosystem, serving as a one-stop yield aggregator and auction platform based on Scroll, integrating functions such as Launchpad, asset aggregation and distribution, and leveraged yield, aiming to maximize users' asset utilization.

6. On-chain order book development project Spark completes $1.5 million Pre-Seed round financing
On-chain order book development project Spark, based on the Fuel Network, announced the completion of $1.5 million in Pre-Seed round financing, with participation from P2 Ventures, Curiosity Capital, Unicorn Ventures, and Fuel Network, with valuation information not yet disclosed. Spark can be seen as a DeFi super application on the Fuel Network, integrating a series of financial services such as perpetual contracts, order books, and lending functions, while introducing a multi-collateral full-margin system that supports diversified asset deposits and complex risk management liquidation protocols, utilizing order books and tools to facilitate non-custodial interactions. (Source link)

7. TON ecosystem decentralized AMM STON.fi completes new round of financing, with participation from CoinFund
TON ecosystem decentralized automated market maker STON.fi announced the completion of a new round of financing, with participation from CoinFund. Specific financing amounts and valuation data have not yet been disclosed. The new funds will be used to further strengthen operations, expanding financial services for Telegram users, allowing users to trade crypto assets across multiple blockchains without bridging or wrapping.

STON.fi is a decentralized automated market maker (AMM) built on the TON blockchain, offering nearly zero fees, low slippage, an extremely simple interface, and direct integration with the TON wallet. (Source link)

8. DeFi protocol Shogun completes $6.9 million seed round financing, with a token valuation of $69 million
DeFi protocol Shogun's developer Intensity Labs completed $6.9 million in seed round financing, co-led by Polychain Capital and DAO5, with participation from Arrington Capital, Arthur Hayes's family office Maelstrom, and Build-a-Bera. Additionally, angel investors such as Cobie, Ansem, Ser Shokunin, and Meltem Demirors also participated in this round of financing. Co-founder Rahul Patel stated that this round of financing has brought Shogun's fully diluted token valuation to $69 million.

It is reported that Shogun is an order flow aggregator and smart liquidity router for modular networks, initially launched on Cosmos. In March of this year, Binance Labs invested in seven startups, including Shogun, during its sixth incubation program. (Source link)

4. Gaming

1. Web3 gaming platform Param Labs completes $7 million financing, led by Animoca Brands
Web3 gaming platform Param Labs completed $7 million in financing, led by Animoca Brands, with participation from Delphi Ventures and Cypher Capital.

Param Labs aims to build a gaming ecosystem governed by its native PARAM token, which is set to launch soon. The company's first game, "Kiraverse," is a multiplayer shooting game that allows players to earn while playing. (Source link)

2. Multimedia gaming ecosystem CROSS THE AGES secures $3.5 million financing, led by Animoca Brands
The multimedia gaming ecosystem CROSS THE AGES (CTA) announced it has secured $3.5 million in equity financing, led by Animoca Brands, with participation from Sebastien Borget of The Sandbox and Nicolas Jeuffrain of Tenergie.

Reportedly, including the previously raised $15 million, the total financing amount to date, including community fundraising, has reached $23.5 million.

Additionally, Web3 asset data platform RootData indicates that Cross The Ages (CTA) is a mobile-first collectible card game set against a dystopian conflict in the world, based on seven fantasy and science fiction novels. CTA utilizes blockchain technology and near-field communication technology to provide a complete value cycle from mobile games to desktop games to physical collectible cards. (Source link)

3. Web3 football Fantasy game FANTAGOAL completes $3 million financing, led by IDG Capital
Web3 football Fantasy game FANTAGOAL completed this round of $3 million financing at a valuation of $25 million. The round was led by IDG Capital, with participation from KuCoin Ventures, Chain Capital, and OptaJoe. Previously, FANTAGOAL also received sponsorship of $400,000 from Sportsbet and whale.io.

FANTAGOAL aims to closely integrate the football world with Web3 through a combination of "European Cup" + "Fantasy" + "AI," bringing potential and commercial value to Web3 football enthusiasts by integrating blockchain NFTs with real-world football matches, establishing a strong football ecosystem. (Source link)

4. ZK on-chain game engine developer Blade Games completes $2.4 million financing, with participation from Signum Capital and others
ZK on-chain game engine developer Blade Games completed $2.4 million in financing, with participation from Signum Capital and UOB Venture Management.

This round of financing will promote the development of Blade Games' modular ZK game engine and facilitate the development and adoption of trustless on-chain games based on WebAssembly and zkVM technology stacks.

Additionally, Blade Games' POC game Dune Factory recently announced the end of closed testing, gaining over 1,000 closed testing users and more than 2,900 pre-registered users.

It is reported that Signum Capital is a Web3 crypto fund focused on early-stage investments, actively investing in infrastructure, DeFi, and gaming projects. UOB Venture Management is a wholly-owned subsidiary of United Overseas Bank (UOB) that makes direct investments in private enterprises. The mission of both funds is to collaborate with visionary founders globally to build the next wave of industry-leading blockchain companies and platforms. (Source link)

5. Telegram-based iGaming platform Boxbet completes strategic round financing
Telegram-based iGaming platform Boxbet announced it has completed a strategic round of financing, but specific amounts have not yet been disclosed. Investors include crypto funds supporting Solana and a leading global iGaming operator, with the names of these investors to be disclosed in the coming weeks.

Boxbet stated that it will enhance the online gaming experience through a series of unique features and launch a user reward mechanism, disclosing that it will use 30% of its revenue to purchase and burn native tokens on the Ethereum chain, ultimately burning 75% of the token supply. (Source link)

5. NFT & Metaverse

1. Metaverse project Baby Shark Universe completes seed round financing at a $34 million valuation
Metaverse project Baby Shark Universe announced the completion of seed round financing on X, with a valuation of $34 million. Investors include Animoca Brands, CREDIT SCEND, Sui Foundation, Comma3 Ventures, Creditcoin, GM Ventures, Neuler, Notch Ventures, X+, and Planetarium. Specific financing amounts have not yet been disclosed, and the funds raised will be used for development and global marketing. (Source link)

2. Anime game metaverse Sekuya announces completion of $1.6 million financing, led by SingularityDAO
Anime game metaverse Sekuya announced on platform X the completion of $1.6 million in financing, led by SingularityDAO, with participation from OIG Capital, GAINS Associates, NewTribe Capital, and angel investors Casiraghi Mario A. and SingularityNET.

Sekuya is an anime game metaverse platform incubated by SingularityDAO and supported by Immutable. Sekuya offers an immersive MOBA + RPG experience set in the universe of Novae Terrae, which consists of 10 worlds. Players, known as "Jumpers," can customize their characters using an AI character creator and interact with AI NPCs. (Source link)

6. Social

1. UXLINK secures new round of financing led by SevenX Ventures, INCE Capital, and HashKey Capital
Social infrastructure project UXLINK announced it has secured a new round of financing led by SevenX Ventures, INCE Capital, and HashKey Capital, along with multiple other investors. This round raised over $5 million, less than three months after the previous round. UXLINK's total financing to date exceeds $15 million, covering several first-tier institutions and well-known individuals from Europe, America, Asia, and the Middle East.

Additionally, Web3 asset data platform RootData indicates that UXLINK is a social platform and infrastructure based on "acquaintance social relationships" and groups, with over 5.5 million registered users, over 1 million daily active users, and more than 100,000 groups. According to the UXLINK community leader, the newly raised funds will mainly be used for ecosystem and product development after TGE, better supporting the issuance, distribution, and trading of social assets. (Source link)

2. Web3 social application Gamic completes $1.8 million financing, with participation from Polygon Ventures and others
Web3 social application Gamic announced the completion of $1.8 million in financing, with investors including Polygon Ventures, Gate.io, Mapleblock, Mulana, Double Peak Group, Momentum6, DWeb3 Capital, LD Capital, and Sandeep Nailwal (co-founder of Polygon), Krypto's Fund, Onega Ventures, Ugo Aronu (co-founder of Xend Finance), and Vijay Pravin (founder of bitsCrunch). Gamic will launch Gamic V3. Gamic is incubated by Binance Labs Fund, with Fundamental Labs as its development partner.

According to Web3 asset data platform RootData, Gamic Guild is a P2E gaming guild focused on providing users with diverse P2E games. (Source link)

3. Web3 social focus application Focus Tree completes $2 million seed round financing, led by Sfermion
Web3 social focus application Focus Tree announced the completion of $2 million in seed round financing, led by Sfermion, with participation from Volt Capital, Psalion VC, StarkWare, Typhon Ventures, Foresight Ventures, and others.

The project is building a social focus application to help millions of people put down their phones. The first phase of the community airdrop event will begin in 72 hours. (Source link)

7. Others

1. Blockchain software as a service solution AfriDex completes $5 million Pre-Seed round financing, led by Endeavor Ventures
London-based blockchain software as a service solution AfriDex announced the completion of $5 million in Pre-Seed round financing, led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and Hank Oberoi.

AfriDex currently focuses primarily on the agricultural market, providing support and protection for supply chain participants through comprehensive on-chain solutions, utilizing blockchain technology for traceability, frictionless payments, fraud prevention, verified certifications, and streamlined tax and subsidy management. (Source link)

2. Web3 freelance service platform Sorbet completes new round of financing, with participation from Adaverse
Web3 freelance service platform Sorbet announced the completion of a new round of financing, with venture fund and accelerator Adaverse participating, although specific amounts and valuation information have not yet been disclosed.

This investment is also part of Adaverse's $10 million investment plan. Sorbet aims to drive more creative individuals into the Web3 industry by eliminating freelancer fees and intermediaries, with tools that allow seamless payments to freelancers using stablecoins, enabling direct and fair interactions with clients. (Source link)