Hotcoin Investment and Financing Weekly Report (10.26-11.1) | A total of 23 public investment and financing events, financing data remains the same as last week

From October 26 to November 1, the crypto market saw a total of 23 financing events, including 11 in infrastructure, 5 in DeFi, 3 in DePIN, 1 in gaming, 1 in security solutions, 1 in tools, and 1 in creator economy.

This week, there were 8 financing rounds exceeding ten million dollars:

• The physical proof of work protocol for carbon credits, Glow, completed a $30 million financing round, with investors including Framework, Union Square Ventures, and others.

• The decentralized public blockchain Nillion completed a $25 million financing round, with investors including Hack VC, HashKey Capital, and others.

• The blockchain for verifiable finance, Atlas, completed a $21 million financing round, with investors including Haun Ventures, Paradigm, and others.

• The Bitcoin ZK rollup Citrea completed a $14 million Series A financing round, with investors including Founders Fund, Maven11, and others.

• The Web3 automation and relay network Gelato Network completed an $11 million OTC financing round, with investors including Hack VC, Animoca Brands, and others.

• The scalable data labeling solution Sapien completed a $10.5 million seed financing round, with investors including Variant Fund, Primitive Ventures, and others.

• The Babylon liquid staking protocol PumpBTC completed a $10 million seed financing round, with investors including SevenX Ventures, Mirana Ventures, and others.

• The Bitcoin ecosystem DeFi solution BitSmiley completed a $10 million financing round, with investors including MH Ventures, Cypher Capital, and others.

This week, the investment and financing activity in the crypto market remained steady compared to last week, with 11 in infrastructure and 5 in DeFi. Glow, the physical proof of work protocol for carbon credits, secured the largest financing amount of the week at $30 million.

The projects this week sorted by financing amount are shown in the figure below:

Infrastructure

1. According to ROOTDATA financing data on October 31, Citrea completed a $14 million Series A financing round, with investors including Founders Fund, Maven11, and others. Citrea is a Bitcoin ZK rollup and an execution layer based on Bitcoin. Every transaction occurring on Citrea is fully protected by zero-knowledge proofs and verified through BitVM.

2. According to ROOTDATA financing data on October 31, Spire completed a $7 million seed financing round, with investors including Maven11, Anagram, and others. Spire is a modular L3 network built on zkEVM L2, scaling Ethereum in a fractal manner. Spire provides infrastructure for developers to launch their own interoperable application chains L3. Spire is a Rollup-as-a-service (RaaS) and L3-as-a-service. Unlike other Raas, Spire focuses on L3 on top of top-tier zkEVM. With its recursive zkrollup architecture, L3 spinning with Spire can scale vertically and is equipped with special features to leverage contracts on L2 (e.g., Scroll). Additionally, Spire itself will launch its own L3 to support other application chains on Spire.

3. According to ROOTDATA financing data on October 31, Axal completed a $2.5 million pre-seed financing round, with investors including CMT Digital, a16z, and others. Axal is a verifiable autonomous agent network that allows agents to perform tasks across the Internet. From complex trading strategies to community engagement, users can specify what they want through simple natural language or programmatic interfaces. Axal handles agent procurement, conducts competitive auctions, and processes payments.

4. According to ROOTDATA financing data on October 31, Atlas completed a $21 million financing round, with investors including Haun Ventures, Paradigm, and others. Atlas is a blockchain for verifiable finance. Atlas is built for financial applications that require reliable transaction delivery, near-zero transaction costs, fast pre-confirmations, frequent and reliable oracle updates, and honest ordering.

5. According to ROOTDATA financing data on October 31, Alliance Games completed a $5 million Series A financing round, with investors including Animoca Brands, Asymm Ventures, and others. Alliance Games is a fully decentralized, community-driven platform that provides next-generation decentralized Web3 gaming infrastructure hosting and data storage services, aiming to redefine the boundaries of gaming using blockchain technology to provide always-accessible immersive experiences.

6. According to ROOTDATA financing data on October 30, Termina completed a $4 million seed financing round, with investors including Lemniscap, Borderless Capital, and others. Termina is a deployment platform developed by Nitro Labs that allows builders to launch high-performance, customizable SVM blockchains tailored for specific use cases. Each Termina aggregator, batch processor, or application chain can access servers, block explorers, data indexers, and interoperability networks.

7. According to ROOTDATA financing data on October 30, Sapien completed a $10.5 million seed financing round, with investors including Variant Fund, Primitive Ventures, and others. Sapien is a scalable data labeling solution that gamifies the process of data labeling using rewards on the blockchain.

8. According to ROOTDATA financing data on October 30, Nillion completed a financing round with an unknown amount, with investors including Hack VC, HashKey Capital, and others. Nillion is a decentralized public network based on a new cryptographic primitive called Nil Message Compute (NMC), allowing nodes in a decentralized network to operate in a unique, non-blockchain manner. Nillion unlocks important new utilities in Web3 by enabling decentralized credit scoring, decentralized trusted execution environments, private NFTs, decentralized secure storage services, and more.

9. According to ROOTDATA financing data on October 29, Vixichain completed a $7 million financing round, with unknown investors. Vixichain is a Layer-1 platform whose comprehensive solution includes smart contracts that simplify transactions, enhance speed and security, while ensuring regulatory compliance. The Vixichain ecosystem is based on the Vixi wallet.

10. According to ROOTDATA financing data on October 29, KRNL completed a $1.7 million pre-seed financing round, with investors including Superscrypt, Ryze Labs, and others. KRNL Labs is innovating at the RPC node level to achieve cross-chain communication, creating a new type of software management for Web3. It also unlocks the ability to share libraries across blockchain networks, fundamentally changing the way tasks are executed. To ensure secure and efficient execution across networks, KRNL employs an enhanced Go Ethereum (Geth) client and a custom GraphQL runtime. This allows dApps to offload execution tasks to optimized networks or Web2 infrastructure.

11. According to ROOTDATA financing data on October 28, Gelato Network completed an $11 million OTC financing round, with investors including Hack VC, Animoca Brands, and others. Gelato Network is an automation and relay network for Web3, enabling developers to automatically execute various arbitrary smart contracts across all EVM-compatible blockchains (e.g., Ethereum). Use case examples built on Gelato include limit orders on AMMs like Uniswap, cross-chain bridges, automatic compounding for yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automatic liquidity management, and even pets for Aavegotchis.

DeFi

1. According to ROOTDATA financing data on October 30, Magma completed a $3.9 million seed financing round, with investors including CMS Holdings, Animoca Brands, and others. Magma is a liquid staking protocol based on Monad, developed by Hydrogen Labs. It achieves fair token distribution through ecological competitive airdrops, emphasizing community participation and decision-making, and is capable of self-funding protocol development and managing various activities.

2. According to ROOTDATA financing data on October 29, PumpBTC completed a $10 million seed financing round, with investors including SevenX Ventures, Mirana Ventures, and others. PumpBTC is Babylon's liquid staking solution. PumpBTC aims to help BTC holders maximize returns through staking with Babylon - essentially reconstructing $WBTC/$BTCB/$FBTC with native yields.

3. According to ROOTDATA financing data on October 29, Native completed a $2.6 million seed financing round, with investors including Nexus Mutual. Native is a global broker connecting traditional insurance with on-chain capital, offering on-chain and off-chain risk products with limits of up to $20 million. Its mission is to address the long-standing insurance gap for digital assets.

4. According to ROOTDATA financing data on October 28, CAP completed a $1.9 million pre-seed financing round, with investors including Robot Ventures, ABCDE Capital, and others. CAP is a stablecoin engine designed to free users from the cycle of endogenous models. CAP's stablecoin engine will produce various denominations of redeemable stablecoins, such as USD, BTC, and ETH. Their goal is to democratize access to what was previously available only to a few sophisticated and already wealthy participants. This includes the deepest layers of yield, such as arbitrage, MEV, and RWA.

5. According to ROOTDATA financing data on October 28, BitSmiley completed a $10 million financing round, with investors including MH Ventures, Cypher Capital, and others. BitSmiley is a Bitcoin-native DeFi project. As the first stablecoin project in the BTC DeFi ecosystem, BitSmiley has innovated at both the application design and protocol level. Its groundbreaking Fintegra framework consists of three main components: a decentralized over-collateralized stablecoin protocol, a native trustless lending protocol, and an on-chain derivatives protocol. BitSmiley will first introduce the native over-collateralized stablecoin bitUSD on the Bitcoin blockchain, addressing the lack of stable price-pegged tools. Users can generate bitUSD by over-collateralizing BTC, allowing them to participate in all BTC blockchain DeFi protocols. Each bitUSD is backed by over-collateralized BTC, ensuring stability and the safety of user assets through a robust liquidation and repayment system.

DePIN

1. According to ROOTDATA financing data on October 31, Glow completed a $30 million financing round, with investors including Framework, Union Square Ventures, and others. Glow is establishing a physical proof of work (PoPW) protocol for carbon credits, incentivizing the creation of carbon credit quotas by rewarding solar panel operators with tokens, replacing unclean energy from the grid.

2. According to ROOTDATA financing data on October 31, GEODNET completed a financing round with an unknown amount, with investors including Animoca Brands, and others. GEODNET's mission is to collect dense real-time geospatial data from the Earth and its atmosphere using new rooftop space weather stations. The use of blockchain will facilitate a robust and resilient network that provides secure and trustworthy geospatial data products for key economic sectors such as agriculture, transportation, and finance, as well as emerging applications for Autonomy, AR/VR, and the Metaverse.

3. According to ROOTDATA financing data on October 30, AiGO Network completed a strategic financing round with an unknown amount, with investors including Waterdrip Capital, K300 Ventures, and others. AiGO Network is a real-time, plug-and-play DePIN data network that provides decentralized access to verified GPS and geolocation data.

Others

1. According to ROOTDATA financing data on November 1, Phylax completed a $4.5 million seed financing round, with investors including Nascent, Figment Capital, and others. Phylax is an open-source security protocol that protects decentralized applications (DApps) on blockchain networks by proactively reviewing hacker activities on the underlying network.

2. According to ROOTDATA financing data on October 30, PARAVOX completed a $4.5 million seed financing round, with investors including GREE, Digital Hearts Holdings, and others. PARAVOX is a 3v3 arena third-person shooter game with tactical strike point rules and smooth high-speed combat. PARAVOX is developed by 81RAVENS Studio.

3. According to ROOTDATA financing data on October 28, Streamflow completed a $1.9 million financing round, with investors including John Lilic, Solana Ventures, and others. Streamflow is a token distribution platform on Solana that allows any organization to distribute and liquidate value. Built on a secure and reliable multi-signature wallet, the platform provides token attribution, payroll, and bulk payments.

4. According to ROOTDATA financing data on October 28, Libraro completed a financing round with an unknown amount, with investors including Ayre Ventures. Libraro is a platform provider that connects writers, readers, and publishers. Here, writers can shine, publishers can discover new talents, and readers can delve into captivating stories. By leveraging blockchain technology, Libraro provides authors with a secure and transparent platform to showcase their work, protect their intellectual property, and engage with their audience. This not only helps protect authors' rights but also fosters a sense of community and collaboration among users.