Highlights of this Issue
According to PANews incomplete statistics, there were 16 blockchain investment and financing events globally last week (9.25-10.1), with a total fund size exceeding $95 million. An overview is as follows:
- DeFi announced 5 investment and financing events, including the oracle and VRF service provider Supra announcing that it has completed over $24 million in financing to date, with investors including Animoca Brands, BCW, Coinbase Ventures, etc.
- No investment and financing events were announced in the NFT and Metaverse field.
- Blockchain Games announced 1 investment and financing event: Fableborne, a blockchain game developed by Web3 game studio Pixion Games, has raised $7.8 million this year, with investors including Mechanism Capital, etc.
- Infrastructure and Tools announced 5 financing events, including the Ethereum network browser Rated announcing the completion of a $12.89 million Series A financing, led by Archetype.
- Other Web3/Crypto-related projects announced 4 financing events, including Web3 startup IYK completing a $16.8 million seed round, led by a16z Crypto.
- In the field of Centralized Finance, one financing event was announced: Bitcoin custody and insurance platform AnchorWatch announced the completion of a $3 million financing, led by Ten31.
DeFi
On-chain leverage trading platform Avantis Labs completed a $4 million seed round financing, led by Pantera Capital, with participation from Founders Fund, Coinbase's Base Ecosystem Fund, and Modular Capital. The new funds will be used to develop its flagship product Avantis, a perpetual contract trading and market-making protocol. Avantis aims to provide leverage trading of cryptocurrencies and RWA assets for institutional and retail investors. Its underlying trading engine is supported by Pyth and Chainlink oracles, and the platform is being developed on the Optimism Superchain. It has already launched a private testnet on the Base blockchain and plans to launch on the mainnet in the first quarter of 2024. After the mainnet launch, Avantis will support Bitcoin and Ethereum, as well as three forex currency pairs: GBP, JPY, and EUR, with plans to add more cryptocurrencies, forex, and commodities such as gold, silver, and oil. Avantis also plans to start developing an options engine in mid-2023.
DeFi startup Bril Finance completes $3 million seed round financing
DeFi portfolio management startup Bril Finance completed a $3 million seed round financing, with participation from FalconX, Kosmos Ventures, and the Algorand Foundation. Bril Finance is a decentralized portfolio management platform that uses algorithms and automatic token deployment to adjust user positions. Bril Finance is currently being deployed on Sei and aims to collaborate with leading blockchains, including Ethereum, Base, Avalanche, Polygon, and Arbitrum.
On-chain leverage trading platform LeverFi receives $2 million investment from DWF Labs
On-chain leverage trading platform LeverFi announced a $2 million investment from DWF Labs on the X platform, with a lock-up and staged release period of two years. In addition, LeverFi also received an additional $2 million commitment for over-the-counter trading, which can be executed at any time within two years if needed. The new funds will be used for protocol innovation, marketing activities, and user acquisition. Furthermore, DWF Labs and LeverFi have reached a market-making arrangement, with DWF Labs providing liquidity for the LEVER trading pairs on relevant exchanges. DWF Labs will also assist LeverFi in growth and strategic business development activities. LeverFi is an Ethereum-based permissionless on-chain leverage trading platform that offers up to 10x leverage.
Liquidity restaking platform Restake completes $500,000 seed round financing, with participation from DCD, AlfaDAO, Yields and More, Moni, etc.
Decentralized stablecoin yield protocol Zunami Protocol completes angel round financing, with participation from Cream Finance, individual investors including Michael Egorov, founder of Curve, Mr. Block, C2tP on Twitter, Winthorpe from Convex, Hubirb on Twitter, and other Stake DAO contributors, as well as core contributors from AladdinDAO. This round of financing will be used to develop Zunami V2 and undergo auditing, with Zunami V2 planned for launch in November.
Blockchain Games
Blockchain game Fableborne announces a total financing of $7.8 million to date
Fableborne, a blockchain game developed by Web3 game studio Pixion Games, announced on the X platform that with the new funds injected this year, it has raised a total of $7.8 million, with investors including Mechanism Capital, VGC, Merit Circle, Eldridge, GSR, Zee Prime Capital, Big Brain Holdings, Builder Capital, Blizzard Fund of Avalanche Foundation, Shima Capital, and ReadyPlayerDAO, among others. Fableborne is an isometric free multiplayer game that combines action RPG and base-building mechanics, incorporating unique elements. The game enhances player and creator experiences using blockchain technology and redefines competition with a fast-paced rhythm. Fableborne has now opened closed ALPHA testing and plans to be publicly released next year. In June of this year, Pixion Games announced the completion of a $5.5 million seed round financing.
Infrastructure & Tools
Oracle and VRF service provider Supra announced that it has completed over $24 million in financing to date, with investors including Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Ventures, No Limit Holdings, Prosus Ventures, Razer.com, Republic Crypto, Shima Capital, etc. Supra is developing an innovative cross-chain oracle and "bridgeless" communication network aimed at achieving sub-2-second finality, with security guarantees expected to be more than 10 times higher than the security of existing bridges using its custom consensus algorithm "Moonshot Consensus." Additionally, Supra recently announced an opportunity for community members to participate in a Learn-to-Earn airdrop to further distribute SUPRA to a wide range of stakeholders.
Ethereum network browser Rated completes $12.89 million Series A financing, led by Archetype
Ethereum network browser Rated announced the completion of a $12.89 million Series A financing, led by Archetype, with seed investors Placeholder, 1confirmation, Cherry and Semantic, as well as new supporters Robot Ventures, Chorus One, Factor, and Maelstrom participating. Archetype founder and general partner Ash Egan has joined the Rated board. Rated co-founder and CEO Elias Simos stated that the Series A financing began in February of this year and concluded in May, and it was a "pure equity" financing round. Rated Labs currently provides the Ethereum network browser, data API, and oracles, and plans to expand its products to multiple Layer 1 blockchain networks next year, including Polygon, Solana, Cosmos, and Polkadot.
Blockchain project Fhenix completes $7 million seed round financing, led by Multicoin Capital
Blockchain project Fhenix announced the completion of a $7 million seed round financing, led by Multicoin Capital and Collider Ventures, with participation from Node Capital, Bankless, HackVC, TaneLabs, and Metaplanet, among others. Other individual investors include Tarun Chitra and Robert Leshner from Robot Ventures. Fhenix is the first blockchain supported by fully homomorphic encryption, and by using fhEVM, Fhenix enables Ethereum developers to seamlessly build encrypted smart contracts and perform data encryption calculations, while using Solidity and other familiar and easy-to-use tools. FHE provides developers with a technology to protect private data and perform encrypted calculations. Fhenix's modular design facilitates seamless integration of FHE/encrypted computing in all blockchain data layers, as well as easy deployment of confidential smart contracts on public blockchains.
Blockchain project Pimlico completes $1.6 million Pre-Seed round financing, led by 1confirmation
Blockchain project Pimlico completed a $1.6 million Pre-Seed round financing, led by 1confirmation, with institutional investors Safe and ConsenSys, as well as over a dozen angel investors participating. Pimlico is dedicated to providing an infrastructure layer to drive Ethereum's transition to ERC-4337 smart accounts, offering features such as ERC-20 token gas payments, multi-signature schemes, social recovery, and spending limits. These smart accounts provide customizable logic, introducing features such as gas sponsorship, ERC-20 token gas payments, multi-signature schemes, social recovery, and spending limits.
Web3 "super app" ParaX announced the completion of a strategic round financing, with Hong Kong digital asset wealth management company Metalfa participating, with the specific amount not disclosed. The ParaX ecosystem is built on the existing ParaSpace and Parallel products, covering account abstraction, meta user interface, zkVM, and cross-domain intent-based LLM. ParaX aims to simplify user interaction with Web3 applications by introducing an automated smart execution layer.
Others
Web3 startup IYK completes $16.8 million seed round financing, led by a16z Crypto
Web3 startup IYK has completed a $16.8 million seed round financing, led by a16z Crypto, with participation from 1kx, Collab Currency, Lattice Capital, gmoney, among others. IYK helps brands, musicians, and creators create digital physical experiences, reward customers and fans, and stay connected with their communities. Since its founding in 2021, IYK has recruited over 100 creators from industries such as fashion, music, and art.
AIOPs platform Senser completes $9.5 million seed round financing, led by Eclipse
The AI Operations (AIOPs) platform Senser, which provides data analysis support for Web3 infrastructure, announced the completion of a $9.5 million seed round financing, led by Eclipse, with participation from Amdocs, among others. Senser provides real-time intelligent, instrument-free analysis services using eBPF technology to enterprise production environments, and supports cross-distributed systems; the product is currently deployed at blockchain company ConsenSys.
London-based cloud-based SaaS platform Cygnetise secured £2.5 million in pre-Series A financing. The project was led by the UK investment group Adjuvo (backer of Zen Educate and Q-BOT), with participation from US VC Massive, as well as existing venture capital and angel investors. The oversubscribed round will be used to further expand the company's sales and technical teams, promoting the accelerated growth of collaborative digital signature management solutions. Cygnetise was founded by Steve Pomfret in London in 2016 and applies blockchain technology to change the process of authorized signatory management (ASM).
Token-based enterprise financing platform Tokenize.it completes €2 million seed round financing, with participation from w3fund, among others
Tokenize.it, a token-based enterprise financing and employee participation platform, announced the completion of a €2 million seed round financing, with participation from High-Tech Gründerfonds (HTGF), w3fund, Seed+Speed, and a group of commercial angel investors. Tokenize.it provides compliant and standardized financing procedures for corporate investment transactions by mapping profit participation rights onto tokens, and ensures automated execution of financing transactions based on blockchain smart contract technology, bringing greater trust and transparency.
Decentralized Finance
Bitcoin custody and insurance platform AnchorWatch completes $3 million financing
Bitcoin custody and insurance platform AnchorWatch announced the completion of a $3 million financing, led by Ten31, with participation from Axiom BTC, Timechain, Bitcoin Opportunity Fund, UTXO Management, and others. AnchorWatch's Trident Vault software provides protocol-native custody solutions for Bitcoin holders, supported by regulated insurance. With this latest investment, AnchorWatch will be able to meet all regulatory and capital requirements to provide Trident Vault to customers and begin selling policies.
Venture Capital Firms
Fifth fund under Mercury Fund completes $160 million fundraising
Venture capital firm Mercury Fund announced that its fifth fund, Mercury Fund V, has completed a $160 million fundraising, making it the largest round of financing the firm has completed to date. Mercury Fund stated that the fund will continue its existing investment strategy and has already invested in Brassica Technologies, which provides transfer services for Web3 emerging innovative institutions. Launched in January 2022, the limited partners of the fund include institutional investors such as Galaxy Digital and Digital Currency Group, as well as individual investors such as Marc Andreessen, co-founder of a16z, and Chris Dixon, partner at a16z.
European crypto fund Eureka Partners completes $40 million financing
European-based native crypto fund Eureka Partners completed a $40 million financing from Nordic Venture Innovations AB, a Nordic family office. This round of financing will accelerate its development in the blockchain and cryptocurrency fields.
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