Last week, there were a total of 30 public financing events in the cryptocurrency market, with a cumulative financing of approximately 167 million USD | Investment and Financing Weekly Report
Cryptographic AI startup Fraction AI has completed a $6 million pre-seed funding round, led by Spartan and Symbolic; DePIN project DAWN has secured $2.5 million in funding, with participation from VanEck Ventures; gamified social trading platform XYRO has raised $1.4 million in a private placement round, led by Animoca Brands.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from December 16 to December 22, 2024, there were a total of 30 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $167 million.
From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and DePIN tracks. Popular projects include the TON ecosystem L2 project DuckChain, the decentralized environmental intelligence platform Silencio Network, the gamified social trading platform XYRO, and the on-chain luxury watch trading market Kettle.
In addition, the UK stablecoin infrastructure company BVNK has secured $50 million in a full equity Series B financing round, led by the large fund Haun Ventures, which focuses on cryptocurrency, with participation from Coinbase Ventures and existing investor Tiger Global.
*（List of projects with financing greater than $5 million last week, data source: * Rootdata）
I. Infrastructure
The TON ecosystem L2 project DuckChain has completed $5 million in financing, with participation from dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto.
DuckChain announced a partnership with Arbitrum, OKX Wallet, OnePieceLab, and others to launch the Yellow Duck Mission hackathon, aimed at global developers and innovators to promote the birth of the next generation of decentralized applications based on the DuckChain ecosystem.
According to RootData, DuckChain is an EVM-compatible TON L2 solution supported by TONSCALE LABS and Arbitrum. This solution aims to provide unprecedented scalability and liquidity, attracting users from the EVM and Bitcoin ecosystems to join TON.
The decentralized AI training platform FLock announced the completion of a $3 million strategic round financing, bringing its total financing to $11 million. This round was led by Grayscale's parent company Digital Currency Group (DCG), with Lightspeed Faction participating in a follow-on round, along with strategic partners such as Animoca Brands, Fenbushi Capital, GnosisVC, GSR Ventures, OKCoinJapan, Bas1s Ventures, and A41. This round of financing will enable FLock to advance the democratization of AI model development and continue building a decentralized AI training platform.
FLock aims to use blockchain technology to address issues of insufficient transparency, weak data privacy, and unfair contributor rewards in traditional AI centralized systems. Through its decentralized collaboration model, data remains local without needing to be uploaded to third parties, allowing contributors to fairly share the benefits derived from data, computing power, and feedback, giving everyone the opportunity to participate in AI development.
The Lightning Network liquid staking protocol UTXO Stack has completed Series A financing at a valuation of $50 million, jointly invested by UTXO Management, CMS, and PAKA.
Following this round of financing, UTXO Stack will launch its first-ever large-scale airdrop incentive program targeting BTC liquidity within the Lightning Network in early January 2025. Subsequently, it will align with the launch of the CKB Lightning Network Fiber Network mainnet, providing liquidity airdrop incentives for CKB and RGB++ related assets. The Token Generation Event (TGE) is expected to be completed in Q1 2025, marking the first TGE in the Lightning Network ecosystem.
It is reported that UTXO Stack previously completed seed round financing, led by ABCDE Capital and SNZ Capital, with participation from CKB Eco Fund, OKX Ventures, UTXO Management, Waterdrip Capital, Matrixport, y2z Ventures, and DRK Lab.
Crypto AI startup Fraction AI has completed $6 million in Pre-seed round financing, led by Spartan and Symbolic, with participation from Borderless Capital, Anagram, Foresight Ventures, Karatage, and angel investors Sandeep Nailwal from Polygon and Illia Polosukhin from NEAR Protocol. The financing structure is a simple future equity agreement (SAFE), accompanied by token warrants.
The public testnet for Fraction AI is expected to launch next month, with the mainnet anticipated to be released by the end of Q1 2025 or early Q2 2025.
Founded in February, Fraction AI is a crypto AI startup aimed at decentralizing data labeling. Data labeling involves tagging raw data (such as images, text, or audio) with meaningful labels to train AI models to recognize patterns and make accurate predictions. Fraction AI employs a hybrid data labeling approach that combines human insights with AI agents. The platform will have three main participants: stakeholders, builders, and judges.
According to official news, the decentralized AI data chain Masa announced the completion of a new round of financing, led by Grayscale's parent company Digital Currency Group (DCG), with participation from FBG Capital, with specific amounts not yet disclosed.
It is reported that DCG participated in its seed round financing two years ago, and the new funds will support the continued development of a customizable AI framework and the expansion of the AI agent ecosystem using real-time data.
According to the Web3 asset data platform RootData, Masa Network is a decentralized network focused on user personal data. Its goal is to create a data platform that allows users to contribute personal data and receive rewards in the form of Masa's native tokens. Developers will be able to access this data for training AI models and creating applications while protecting user privacy.
Tokenization Startup Plume Completes $20 Million Financing, Led by Haun Ventures and Others
According to Fortune, tokenization startup Plume has completed $20 million in financing, led by Brevan Howard Digital, Haun Ventures, Lightspeed Faction, and Galaxy Ventures. With this, Plume's total financing has reached $30 million. The company is building the first financial ecosystem for real-world assets (RWAfi), supporting the tokenization of diverse assets ranging from Pokémon cards to oil reserves.
Plume CEO Chris Yin stated that there are currently 180 projects developing on its network, including the decentralized private lending platform Credbull. The blockchain is set to open to users in early 2025, offering features such as asset yield acquisition, verification of physical collectibles trading, and real-time data-based asset price prediction. The financing will be used to expand coverage from crypto-native users to traditional financial institutions and optimize developer customization features.
According to the Web3 asset data platform RootData, Plume is a fully integrated modular chain focused on RWAfi. They have built the first modular, composable EVM-compatible chain focused on RWA, aiming to simplify onboarding for all types of assets through native infrastructure and unified RWAfi-specific features across the chain. Plume is building a composable DeFi ecosystem around RWAfis, featuring an integrated end-to-end tokenization engine and a network of financial infrastructure partners for builders to plug and play.
DeFi Application Layer Rujira Completes $7 Million Financing
DeFi application layer Rujira stated in its official blog: "Rujira has successfully raised $7 million from a group of early investors who got involved after the merger announcement. With this funding, we are capable of executing our plans without the need for additional funds at this time. In the future, if necessary, we will be able to obtain additional funds through over-the-counter transactions to further support the development of Rujira. The completion of this round of financing also clears a key hurdle for the RUJI TGE, which is currently expected to take place in February next year. As always, this timeline is for reference only and may change."
According to the Web3 asset data platform RootData, Rujira is a powerful application layer on THORChain, integrating DeFi tools and dapp suites, benefiting from a liquid ecosystem and high trading volume. It is driven by a partnership between Kujira, Levana, and THORChain (known as the Rujira Alliance).
AI virtual world Ark Of Panda has completed $2 million in financing, with participation from European WEB3 accelerator Flow Capital, Japan's Wabi Sabi Trading, Web3link, Tido Capital, Coresky, GHVC, Lulala Labs, and others, and will receive incubation and brand promotion support from the European gaming company Uncore.
Ark of Panda is an innovative AI + UGC (User Generated Content) virtual world ecosystem that supports various public chains and provides users with cross-chain trading and asset management services. Ark of Panda lowers the barriers to UGC creation, allowing users to easily create assets, design virtual scenes, and conveniently establish unique scenes and games within the ecosystem to realize their creative dreams.
Stablecoin-based cross-border payment service provider Juicyway announced the completion of $3 million in Pre-Seed round financing, with participation from P1 Ventures, Ventures Platform Fund, and Future Africa.
Juicyway primarily utilizes stablecoins and cryptocurrencies to simplify cross-border settlements by bypassing traditional intermediaries and reducing transaction delays. The new funds are intended to support its provision of accessible quasi-banking and crypto wallet services, enabling seamless deposits and withdrawals with stablecoins acting as a bridge, facilitating instant settlements and reducing reliance on highly volatile currencies.
II. DeFi
MegaETH ecosystem decentralized perpetual contract exchange Valhalla announced the completion of $1.5 million in Pre-Seed round financing. Robot Ventures led the round, with participation from GSR, Kronos, MitonC, Wincent, Hash3, BigBrain Holdings, Sumcap, and a number of angel investors.
It is reported that Valhalla is committed to creating a financially open, composable, and community-driven world.
III. DePIN
According to CryptoPotato, the decentralized environmental intelligence platform Silencio Network has completed $2.5 million in seed round financing, led by Blockchange Ventures, with participation from Borderless Capital, Master Ventures, Blockchain Founders Fund, Prosper GmbH & Co. KG, and Advanced Blockchain AG.
According to the Web3 asset data platform RootData, Silencio is a global network for measuring noise pollution. Users can earn rewards by measuring noise pollution with their mobile phones.
ChainCatcher previously reported that Silencio Network, a decentralized data coverage solution provider based in Munich, Germany, focused on combating noise pollution, successfully raised $1 million in Pre-Seed round financing. This round was led by Borderless Capital, with participation from Moonrock Capital, Master Ventures, and Cogitent Ventures.
Silencio Network plans to use this funding to accelerate company growth, enhance data integrity, foster partnerships, and advance more strategic plans. Through its app, users can earn rewards by measuring noise pollution with their mobile phones.
DePIN Project DAWN Completes $2.5 Million Financing, with VanEck Ventures and Others Participating
According to Blockworks, the DePIN project DAWN (Andrena) has completed $2.5 million in financing, with participation from VanEck Ventures and VanEck's Digital Assets Alpha Fund.
According to the Web3 asset data platform RootData, DAWN is a decentralized wireless network for providing internet services, developed by the Andrena team, allowing owners or residents the opportunity to buy and sell internet capacity in their surrounding areas—enabling users to operate as their own internet service providers. DAWN facilitates a trustless exchange system that employs backhaul, location, and frequency proofs.
ChainCatcher previously reported that in August 2024, the Solana-based DePIN project Andrena completed $18 million in financing, led by Dragonfly, with participation from CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures, and ParaFi.
IV. Gaming
According to Bitcoin.com, the gamified social trading platform XYRO has completed $1.4 million in private placement round financing, led by Animoca Brands.
According to the Web3 asset data platform RootData, XYRO is a gamified social trading platform designed to make cryptocurrency more accessible and engaging. Users can test their ability to predict cryptocurrency prices, win rewards, compete with others, and share trading ideas.
V. Others
On-chain Luxury Watch Trading Market Kettle Completes $4 Million Financing, Led by ParaFi Capital
The on-chain luxury watch trading market Kettle has completed $4 million in financing, led by ParaFi Capital, with participation from Zee Prime Capital, IOSG Ventures, Signum Capital, Puzzle Ventures, Kronos, and angel investors Gmoney and OSF. This round of funding will be used to build the RWA platform.
According to RootData, Kettle is a peer-to-peer market that allows users to trade the full financial value of luxury watches. With Kettle, watch collectors can access a global 24/7 watch economy. Each watch on Kettle is fully insured, certified, and stored in the Kettle Vault in New York.
Boost VC Announces Investment in DeSci Project PoSciDonDAO
Boost VC announced its investment in the decentralized research project PoSciDonDAO, with specific amounts not yet disclosed. Following the completion of the transaction, PoSciDonDAO will join Boost VC's Go-To-Market program.
It is reported that Boost VC is expanding into the decentralized science (DeSci) field, with its portfolio including Molecule, ResearchHub, HairDAO, and Data Lake.
Bitcoin Savings App Developer BitDCA Completes $2 Million Pre-Seed Round Financing
According to Cryptonews, Bitcoin savings app developer BitDCA announced the completion of $2 million in Pre-Seed round financing, with investor information not yet disclosed. The new funds are intended to support the development of a Bitcoin savings application called "Littlebit."
Decentralized AI Agent Payment Protocol Skynet Completes $1.2 Million Pre-Seed Round Financing
According to Cryptonews, the decentralized AI agent payment protocol Skynet has completed $1.2 million in Pre-Seed round financing. This round of financing was supported by donations from well-known angel investors from GitHub, Polygon, Veracode, and Monotype. These funds will be used to develop "The World's Resource Blockchain," a system aimed at connecting global resources, enabling AI agents to autonomously execute payments and perform tasks across multiple platforms.
It is reported that the Skynet interface provides AI agents with access to resources, transaction capabilities, and integration with decentralized applications (dApps) across multiple virtual machines (VMs). Skynet's infrastructure is built on Arbitrum's Orbit chain, providing payment and tracking mechanisms. This enables AI agents to complete real-world tasks, including booking flights, managing accommodations, and handling financial portfolios.
Chainalysis Acquires Web3 Security Company Hexagate
According to Cryptonews, analytics company Chainalysis announced its acquisition of Web3 security company Hexagate, which specializes in detecting and mitigating real-time threats on blockchain networks. Hexagate focuses on detecting threats, including network vulnerabilities, hacking attacks, and governance risks. The security company's machine learning models monitor blockchain networks in real-time, identifying suspicious patterns and anomalous transactions. Hexagate's clients include Coinbase and Consensys.
Chainalysis stated that by acquiring Hexagate, the company will be able to provide clients with comprehensive risk management covering prevention, compliance, and remediation.
Content Tokenization Platform Promeet Completes $3.1 Million Pre-seed Round Financing
According to Decrypt, content tokenization platform Promeet has completed $3.1 million in Pre-seed round financing, raised through a simple future equity agreement (SAFE). The funds will be used to expand the team, enhance platform functionality, and grow the user base.
According to the Web3 asset data platform RootData, Promeet is a content monetization platform that enables creators, professionals, and influencers to control their income streams, offering various ways to engage audiences and profit from live and recorded video content.
Crypto Securities Platform Prometheum Completes $20 Million Financing
According to Axios, crypto securities platform Prometheum has completed $20 million in financing, sourced from a group of undisclosed individuals and institutions, bringing Prometheum's total fundraising to approximately $64.3 million. Prometheum has two subsidiaries. One is an alternative trading system expected to launch in Q1 2025. The other is a custodian currently serving institutional investors, focusing on a few well-known crypto assets. This funding will be used to increase the number of crypto assets and launch upcoming security tokens.
According to the Web3 asset data platform RootData, Prometheum is a blockchain-focused company dedicated to building an end-to-end ecosystem for the trading, custody, and settlement of digital asset securities.
Tether Announces Investment in European Stablecoin Provider StablR
According to official news, digital asset company Tether announced its investment in European stablecoin provider StablR, aiming to accelerate adoption in the region.
Tether's investment in StablR demonstrates its commitment to the European market and support for fully regulated stablecoins. In July of this year, StablR obtained an electronic money institution (EMI) license from the Malta Financial Services Authority for its MiCAR-compliant stablecoin.
Currently, StablR offers two tokens: EURR and USDR, both issued in ERC-20 and Solana-compatible token formats, allowing for seamless transfers to any Ethereum or Solana wallet address.
Stablecoin Infrastructure Company BVNK Completes $50 Million Financing, Led by Haun Ventures
According to Fortune, UK stablecoin infrastructure company BVNK has secured $50 million in a full equity Series B financing round, led by the large fund Haun Ventures, which focuses on cryptocurrency, with participation from Coinbase Ventures and existing investor Tiger Global.
According to a source familiar with the transaction, this round of financing values BVNK at approximately $750 million.
According to the Web3 asset data platform RootData, BVNK provides banking services and payments for crypto-native enterprises. Companies using BVNK can accept payments in both fiat and cryptocurrencies, hold hundreds of different currencies and crypto assets, and send funds worldwide.
NFTGo Acquires Crypto Portfolio Management Project Mest
The co-founder of the crypto portfolio management project Mest, ashu (@ashu_mest), disclosed on X that the NFT analysis platform NFTGo has acquired the Mest product, with the specific acquisition amount not yet disclosed.
NFTGo will develop new products based on the relevant source code. It is reported that Mest ceased development a year ago due to low market conditions and return on investment comparisons.
