According to incomplete statistics from Odaily Star Daily, there were a total of 13 blockchain financing events announced from July 31 to August 6, both domestically and internationally, which is a decrease from the previous week's 15. The disclosed total financing amount is approximately $88.37 million, also a decrease from the previous week's $110 million.
Last week, the project that received the most investment was the open-source software security solution Socket and the U.S. blockchain "mining as a service" ecosystem platform Xgminer ($20 million). Additionally, the Web3 Mahjong chain game platform Mahjong Meta attracted attention due to its impressive lineup of investors.
The specific financing events are as follows (Note: 1. Sorted by disclosed amount; 2. Excluding fund-raising and M&A events; 3. * indicates companies in "traditional" fields with some blockchain involvement):
Open-source software security solution Socket completes $20 million Series A financing, led by a16z
On August 2, the open-source software security solution Socket announced the completion of a $20 million Series A financing round, led by a16z. Other investors include Abstract Ventures, Wndrco, Unusual Ventures, as well as several angel investors including Box co-founder Aaron Levie, Figma co-founder Dylan Field, Okta co-founder Frederic Kerrest, Vercel CEO Guillermo Rauch, and Eventbrite co-founders Julia and Kevin Hartz.
Socket CEO Feross Aboukhadijeh stated that with the previous $4.6 million seed round, Socket's total financing reached $24.6 million. The new financing will be used to expand the Socket team and support the integration of more programming languages.
The company's clients include Brave, Figma, and Vercel (the co-founders of the latter two companies have also invested in Socket). Aboukhadijeh expects that if the company maintains its current trajectory, its size will double in the coming months, particularly in terms of the number of employees. The current focus is on developing Socket's engineering, security, operations, sales, and marketing teams.
Unlike traditional static analysis tools, Socket's open-source code security vulnerability detection service provides actionable feedback related to dependency risks, rather than hundreds of meaningless alerts. Specifically, Socket identifies advanced danger signals in software, such as malware, spelling errors (domains typically misspelled for malicious purposes), misleading packages and unmaintained code, as well as unknown maintainers and excessive permissions. The platform provides a search function that allows users to delve into code repositories to track changes in dependencies, as well as a free web browser extension that attempts to determine if an open-source package is secure and reliable.
In addition, Socket recently launched a ChatGPT connector that can summarize potential issues in software packages, identifying "uncommon" code patterns.
Blockchain mining as a service platform Xgminer completes $20 million financing
On August 3, the U.S. blockchain "mining as a service" ecosystem platform Xgminer announced a new round of financing of $20 million, without disclosing specific investor information.
Currently, the Xgminer platform supports cloud mining services for multiple algorithms and currencies. The new financing will be used to expand fixed investments in equipment, personnel, and other areas, as well as to further enhance mining machine computing power.
On August 3, the Web3 Mahjong chain game platform Mahjong Meta announced the completion of a $12 million financing round, led by Dragonfly and Folius Ventures, with participation from Meteorite Labs, Find Satoshi Lab, Parallel Ventures, Emoote, and others.
The funds from this round of financing will drive the development of Mahjong Meta's products and the expansion of the Web3 gaming ecosystem, further enhancing players' gaming experience and expanding its global influence. Additionally, Mahjong Meta is scheduled to officially launch on August 7, 2023. The Beta test version of Mahjong Meta was launched on May 12 and has attracted over 15,000 players participating in over 490,000 matches.
Blockchain payment platform Orbital completes £5 million financing, led by Golden Record Ventures
On August 3, the UK blockchain payment platform Orbital completed a £5 million financing round, led by Golden Record Ventures, with participation from New Form Capital, GSRV, Psalion, Luminous Futures, and others. The funds from this round of financing will enable Orbital to continue rapid growth, obtain more licenses in new jurisdictions, and further develop its products.
Blockchain cloud company Common Computer completes ₩800 million Series B bridge financing
On July 31, the blockchain cloud company Common Computer completed ₩8 billion Series B bridge financing (approximately $6.3 million).
Common Computer announced that it has attracted strategic investments of ₩5 billion from healthcare company InBody and existing investors such as HB Investment. Through this investment cooperation, the two companies plan to advance AI chatbots to provide a natural language experience for over 10 million InBody users, validate the potential of giant models, and create service cases.
Diversified digital asset fund platform Solv Protocol completes $6 million financing
On August 1, the all-in-one, diversified digital asset fund platform Solv Protocol announced the completion of a $6 million financing round. Institutional investors such as Laser Digital under the Japanese banking giant Nomura Securities, UOB Venture Management, Mirana Ventures, Emirates Consortium, Weixing China, Bing Ventures, Apollo Capital, HashCIB, Geek Cartel, and Bytetrade Labs participated in the investment. Solv V3 is committed to introducing billion-dollar revenue assets to the industry through the fund platform. Solv has raised a total of $14 million, with previous support from institutions such as Blockchain Capital and Binance Labs.
Since the launch of the Solv V3 platform, cumulative asset sales have exceeded $150 million, and the first low-risk yield open product based on GMX has been launched.
Network security company Hushmesh completes $5.2 million financing, led by Paladin Capital Group
On August 3, the network security company Hushmesh completed a $5.2 million financing round, led by Paladin Capital Group, with participation from Akamai Technologies. Hushmesh will use this financing to develop the key management program Mesh, a global information space with built-in automated security features that allows individuals and organizations to operate online without worrying about malicious attacks or data leaks. Mesh will automate encryption key management, providing an unlimited number of keys to protect an unlimited amount of personal or entity data for each individual and non-individual entity.
CBDC infrastructure provider Emtech completes $4 million financing, led by Matrix Partners India
On August 3, African central bank infrastructure provider Emtech announced the completion of a $4 million seed financing round, led by Matrix Partners India, with participation from BTN, Vested, Equity Alliance, LoftyInc Capital, and others. Emtech plans to further develop its CBDC stack and regulatory technology solutions. Emtech's previous investors include Noemis Ventures, Octerra Capital, and 500 Global, among others. To date, Emtech's total financing amount has reached $10 million.
Web3 startup Naval completes $4 million seed financing, led by BlockTower
On August 2, Web3 startup Naval completed a $4 million seed financing round in July, led by BlockTower.
Naval, led by the University of Cincinnati, Kroger, GE, and Matt Schoch, is building a Web3 wallet usage platform that allows organizations to securely use digital assets such as NFTs in the Web3 domain.
On August 6, Web3 equity aggregation platform VIP3 announced the completion of a $2 million seed financing round, with investors including IOBC Capital, Ankr, PAKA Capital, and other institutions. This round of financing will be used for VIP3 product development and user expansion.
As a Web3 membership equity aggregation platform, VIP3 uses SBT (Soulbound Token) as an on-chain membership card, allowing users to access various rights and benefits from multiple Web3 projects on the VIP3 platform by holding their SBT. Currently, VIP3 has established equity partnerships with over 30 platforms including Binance, HashKey Exchange, OKX, TP Wallet, Ankr, and Mahjong. VIP3 will provide users with various benefits such as trading fee discounts, gas subsidies, airdrops, whitelist access, and more. VIP3 will launch a limited-time free card casting event on its official website vip3.io on August 8.
On August 3, zkPass completed a $2.5 million seed financing round, with participation from Binance Labs, Sequoia China, OKX Ventures, dao5, Susquehanna International Group, Cypher Capital, Leland Ventures, Blockchain Founders Fund, and others. zkPass combines technologies such as zero-knowledge proofs, multi-party computation, and three-party transport layer security, allowing users to disclose personal data on any website without revealing personal documents. This technology can be used in privacy-based healthcare data markets and DeFi protocols that use off-chain data for credit applications.
On August 2, decentralized user data infrastructure service provider Terminal 3, based in Hong Kong, announced the completion of an oversubscribed Pre-Seed financing round, with participation from 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, Mozaik Capital, and others. The specific financing amount has not been disclosed. Terminal 3 aims to replace centralized data storage models, using decentralized storage and zero-knowledge proofs to help enterprises address compliance and security issues with user data, allowing for the free combination of user data while maintaining complete privacy and security.
On August 2, Web3 game participation platform developer Conductive.ai completed a seed financing round, with Animoca Brands leading the investment, and participation from Kraken Ventures, Bixin Ventures, Sound Ventures, Rubik Ventures, Sfermion, Oyster Ventures, Blue Lion Global, Axia8 Ventures, Unanimous Capital, and Everest Ventures, among others. The financing amount has not been disclosed.
Conductive.ai is addressing the issue of stagnant game revenue growth with its proprietary platform, which increases player engagement and provides developers with additional tools such as player reward allocation systems and analytics suites, in order to jointly develop strategies to encourage player retention.
Conductive.ai's vision is to address the biggest issues in the current gaming industry by increasing user acquisition efficiency and enhancing player engagement, allowing mainstream users worldwide to access Web3 technology without needing to be familiar with Web3 wallets or technical processes.
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