Last week, there were a total of 18 public financing events in the cryptocurrency market, raising approximately 66.74 million USD | Investment and Financing Weekly Report
Manta Foundation announces investment in the chain abstraction liquidity aggregation protocol Cycle Network; the chain game platform Yooldo completes a new round of financing, with Consensys participating; the crypto social network 0xPPL completes a new round of financing, with participation from AllianceDAO and others.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from September 2 to September 8, 2024, there were a total of 18 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $66.74 million.
From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and DeFi tracks. Popular projects include the Web3 game and social companion platform E-PAL, the innovative exchange Vanilla Finance, the Scroll ecosystem project Pencils Protocol, and the Berachain ecosystem DePIN project Puffpaw.
In addition, the stablecoin issuer IDA completed a $6 million seed round financing, led by CMCC Global.
*（List of projects with financing greater than $5 million last week, data source: * Rootdata）
1. Infrastructure
Web3 Game Social Companion Platform E-PAL Completes $30 Million Financing
According to Coindesk, the Web3 game and social companion platform E-PAL announced the launch of its AI-driven blockchain experience platform, Balance. E-PAL has successfully completed two rounds of financing led by Andreessen Horowitz (a16z) and Galaxy Interactive. As of now, E-PAL's total financing has reached $30 million.
Its latest round of financing also received support from other investment institutions, including Animoca Brands, K5, CLF Partners, MBK Capital, New Heights Fund, AMBER, MarbleX, Sky Mantra, Tuna, Aptos Labs, IOBC, Leland, Halcyon Capital, Uphonest, Taisu Ventures, Gate Labs, DWF Ventures, BING, WAGMI, YouTube co-founder Steve Chen, Riot Games CEO Marc Merrill, and League of Legends director Thomas Vu.
This funding will primarily be allocated to the development of Balance's infrastructure, which aims to bring transformative innovation to the social industry by integrating cutting-edge blockchain and AI technologies.
Manta Foundation Announces Investment in Chain Abstract Liquidity Aggregation Protocol Cycle Network
Manta Foundation announced a strategic investment in the chain abstract liquidity aggregation protocol Cycle Network, with specific financing amounts undisclosed. Other investors include Summer Ventures and Vertex Ventures.
Cycle Network has applied for Manta Foundation's $50 million ecosystem fund. This investment aims to promote Web3 development, particularly in enhancing liquidity, cross-chain connectivity, and efficiency among ecosystems.
It is reported that Cycle Network was selected for Binance Labs' seventh season incubation program in July this year.
L2 Network Kroma Completes Series A Financing, Gate Ventures Participates
The Ethereum Layer 2 solution Kroma has completed Series A financing, with specific amounts not disclosed. This round of financing was participated in by Asia Advisors Korea, Gate Ventures, ICC, Planetarium, Presto, RFD Capital, and others.
These funds will promote Kroma's mission to make Web3 more accessible through advanced Layer 2 solutions supported by Kroma's zk proof library, Tachyon. Kroma aims to make Web3 more accessible through intuitive, gamified real dApps.
2. DeFi
Web3 ecosystem service Nest Layer announced the completion of a new round of financing, with Manta Foundation Fund participating, though specific valuation and financing amounts have not been disclosed.
The new funds will support the development of its product suite Dropnest, which currently supports services including investment, node management, NFTs, airdrop farming, staking, yield generation, and DePIN. Dropnest simplifies airdrop farming through a one-click interface.
Vanilla Finance Completes New Round of Strategic Financing, HTX Ventures Participates
The innovative exchange Vanilla Finance announced the completion of a new round of strategic financing, with HTX Ventures participating, though specific amounts have not been disclosed. Vanilla Finance recently reached a strategic agreement with two games on Telegram, Catizen and NotCoin. Other investors include UOB Ventures, ABCDE Labs, Pluto, Paper Ventures, Open Space, and Y2. Vanilla Finance provides users with a low-cost entry into cryptocurrency, promoting more people to use and trade cryptocurrencies.
According to official news, the Scroll ecosystem project Pencils Protocol completed a new round of financing at an $80 million valuation, led by Taisu Ventures, with participation from DePIN X, Bing Ventures, and Black GM Capital.
It is reported that in May this year, Pencils Protocol completed a seed round financing of $2.1 million, with investors including OKX Ventures, Animoca Brands, Galxe, Gateio Labs, Aquarius, Presto, and several well-known institutions and individual investors.
Pencils Protocol is currently the top-ranked native project in the Scroll ecosystem's TVL, serving as a one-stop yield aggregator and auction platform based on Scroll, including asset aggregation and distribution, leveraged yield, and auction functions, aimed at maximizing users' asset utilization.
3. AI
Chain Game Platform Yooldo Completes New Round of Financing, Consensys Participates
The chain game platform Yooldo announced the completion of a new round of financing, with Consensys participating through its Linea Ecosystem Investment Alliance, though specific amounts and valuation information have not been disclosed. The new funds will be used to promote the integration of Web3 games into the Linea ecosystem.
According to Web3 asset data platform RootData, Yooldo completed a $1.5 million investment in February this year, with investors including Bedrock Ventures, Double jump.tokyo, Edimus, Hyperithm, Klaytn Foundation, Manta Network, Neopin, Planetarium, Presto Labs, and Vista Labs.
Web3 Game CryptoHunter World Completes $2.8 Million Financing, IOST and Others Participate
The Web3 game CryptoHunter World completed $2.8 million in financing, with participation from IOST, HG Ventures, Mindfulness Capital, Bigcandle Capital, Web3Wave, and Layer-OTC.
The game offers two modes: Adventure Mode and Hunter Mode. Adventure Mode allows users to enjoy the game and collect Cryptids without blockchain rewards, while Hunter Mode rewards tokens based on players' movements, distances traveled, and battles with Cryptids using NFTs and GPS.
It is reported that CryptoHunter World's unique gameplay revolves around its collectible RPG mechanism, allowing players to adventure with Cryptids and tokenize in-game items and characters, enabling players to own their assets through blockchain technology.
4. Others
blabla.group announced that it has received seed round financing from Nebula Investment, Blockchain Association of Europe (BCAEU), and Hopechain, with specific financing amounts not disclosed.
It is reported that Blabla is a SocialFi project co-founded by former TikTok and Meta team members. It is led by Morse, the first DAPP in the Morse ecosystem.
Blabla aims to break the limitations of traditional media platforms, linking WEB2 and WEB3, and through a decentralized mechanism and transparent reward system, allows every user and creator to receive their deserved rewards on the platform.
DeFi ecosystem aggregation airdrop platform Arris announced on X that it has completed a new round of financing, with participation from CGV FoF, K24 Ventures, DMAIL.AI, Alco Holdings, and others, which will jointly support Arris in shaping the future of Web3.
According to Web3 asset data platform RootData, Arris is an on-chain interactive aggregation growth platform aimed at creating a DeFi ecosystem aggregation airdrop platform that integrates DEX, IMO, and DAO.
Puffpaw Completes $6 Million Seed Round Financing, Lemniscap Ventures Participates
The Berachain ecosystem DePIN project Puffpaw announced the completion of $6 million in seed round financing, with participation from Lemniscap Ventures.
The Puffpaw project plans to launch a blockchain-enabled e-cigarette, aiming to help users reduce nicotine intake through token incentives. The project encourages users to quit smoking by recording their smoking habits and rewarding tokens. Puffpaw's token economics aim to cover 30% of users' costs for the first month of using its products and provide social rewards. The project also considers potential system abuse behaviors, but the issue of users possibly dishonestly reporting their smoking habits remains unclear.
The cryptocurrency social network platform 0xPPL has completed a new round of financing, with participation from AllianceDAO, Anagram, Peak XV Partners, angel investor Balaji Srinivasan, Solana Labs' Anatoly Yakovenko and Raj Gokal, and Polygon co-founder Sandeep Nailwal.
Specific financing amounts and valuation information have not been disclosed. The new funds will be used to enhance 0xPPL's product offerings, expand its team, and further realize its mission to become a leading on-chain social network platform, with its main competitors currently including decentralized social networks like Phaver, Easy, and Farcaster.
Web3 Security Company Hypernative Completes $16 Million Series A Financing, Led by Quantstamp
Web3 security company Hypernative has completed $16 million in Series A financing, led by Quantstamp. Bloccelerate VC, Boldstart Ventures, Borderless Capital, CMT Digital, IBI Tech Fund, Re7 Capital, and others participated. Hypernative's total financing has reached $27 million.
Hypernative provides a "real-time" risk monitoring platform aimed at detecting potential hacks before they occur, allowing users time to take action before any damage is done. The company states that its platform monitors on-chain and off-chain data, using AI and machine learning tools to identify over 200 types of risks, including smart contract hacks, bridge security issues, and market manipulation.
Animoca Announces Investment in Social Infrastructure UXLINK
Web3 social and infrastructure platform UXLINK announced on the official X platform that it has received a strategic investment from Animoca. UXLINK will closely collaborate with Animoca's portfolio to accelerate user growth and ecosystem development.
Web3+AI Investment Opportunity Platform TrendX Completes $5 Million Series A Financing
Trend tracking and smart trading platform TrendX has completed $5 million in Series A financing, led by Promontory, Coinstash, Frontier Research, Coresky, Tido Capital, and Bullperks. The newly acquired funds will be strategically used to advance its technology, expand market share, and attract talent, accelerating progress in cutting-edge innovations in Web3 trend analysis, AI-driven analytics, and on-chain and off-chain trend tracking technologies.
TrendX is a one-stop platform that helps users find investment opportunities through AI and big data technology. Since its establishment in 2022, TrendX has processed over 20TB of on-chain and off-chain data, analyzing and capturing investment opportunities in real-time from billions of data dynamics, providing investment advice to users through intuitive interactions.
Previously reported on January 8, the AI-driven Web3 trend tracking and smart trading one-stop platform TrendX announced it had secured $1 million in seed round financing, with participating institutions including Foster Labs, Web3Link, Coresky, Tripod Capital, CatcherVC, and MIIX Capital.
Stablecoin Issuer IDA Completes $6 Million Seed Round Financing, Led by CMCC Global
Stablecoin issuer IDA has raised $6 million in a seed round financing led by CMCC Global, with its Titan Fund and Hashed participating. This funding will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which aims to be regulated in Hong Kong. Other participants in this round of financing include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments, as well as notable angel investors such as Solana co-founder Raj Gokal.
