Compilation: Biscuit, RootData

According to incomplete statistics from RootData, from February 19 to February 25, 2024, a total of 31 public financing events occurred in the blockchain and crypto industry, with a total financing of approximately 238 million US dollars.

In terms of track distribution, the projects that received financing are mainly distributed in the infrastructure and DeFi tracks, with 10 and 11 financings completed respectively. The liquidity re-staking track remains hot, with EigenLayer receiving a $100 million financing from a16z; Binance Labs announced an investment in Renzo. Other popular projects include the execution layer system AltLayer, communication infrastructure Beoble, metaverse Matr1x, Web3 streaming payment protocol Superfluid, and more.

In addition, according to incomplete statistics from ChainCatcher, in the past three months from the end of October 2023 to the end of January 2024, at least over 11 Bitcoin mining companies announced financing, raising over 700 million US dollars. Furthermore, some mining companies are actively raising funds, with Marathon Digital submitting an S-3 form to the SEC, planning to raise up to 750 million US dollars through a mixed equity offering. The planned financing in the past three months exceeds 1.5 billion US dollars, providing new ammunition for the upcoming Bitcoin halving preparation. Bitcoin Mining Enterprises

(List of projects with financing exceeding 5 million US dollars last week, data source: Rootdata)

I. Infrastructure

1. L1 blockchain Flare completes a $35 million private placement financing, with participation from Kenetic and others

L1 blockchain Flare completed a $35 million private placement financing, with participation from Kenetic, Aves Lair, and others. It is reported that Flare supports the creation of smart contract protocols and focuses on price oracles, transmitting asset prices to various decentralized finance (DeFi) applications.

Early investors in the project voluntarily agreed to extend the token distribution time from 2024 to the first quarter of 2026. In addition, a 0.5% daily trading volume sell limit was implemented to reduce selling pressure in the market. (Source link)

2. Rollup-as-a-Service protocol AltLayer completes a $14.4 million strategic round of financing, jointly led by Polychain Capital and Hack VC

Rollup-as-a-Service protocol AltLayer completed a $14.4 million strategic round of financing, jointly led by Polychain Capital and Hack VC. OKX Ventures, HashKey Capital, Bankless Ventures, Primitive Ventures, SevenX, Mask Network, IOSG, and TRGC participated in the financing round, which concluded in September 2023. The statement claimed that the new funds will be used to expand the AltLayer team and further develop its Rollup infrastructure, with AltLayer not disclosing its valuation. (Source link)

3. Crypto payment platform Meso completes a $9.5 million financing, led by Solana Ventures and Ribbit Capital

Crypto payment platform Meso completed a $9.5 million seed round financing, jointly led by Solana Ventures and Ribbit Capital, with participation from Canonical Crypto, 6th Man Ventures, and angel investors including Chris Kalani, co-founder of Phantom, Bill Ready, CEO of Pinterest, and Archie Puri of Bodhi Labs.

Meso is dedicated to connecting crypto wallets with bank accounts. Meso co-founder and CEO Ben Mills previously worked at PayPal, Braintree, and Venmo. (Source link)

4. Crypto wallet Nest Wallet announces a $3.6 million financing, with participation from Inception Capital, OrangeDAO, and others

Crypto wallet Nest Wallet announced a $3.6 million financing, with participation from Inception Capital, OrangeDAO, Ascensive Assets, gumi Cryptos Capital, INCE Capital, SnackClub, Kevin Lin, Gabby Dizon, Sébastien Dessimoz, Kun Gao, and others. (Source link)

5. Modular blockchain developer Inco completes a $4.5 million financing, led by 1kx

• Privacy-focused modular blockchain developer Inco announced the completion of a $4.5 million seed round financing and launched its first testnet, Gentry. The round was led by 1kx, with participation from Circle Ventures, GSR, Polygon Ventures, Robot Ventures, Alliance DAO, and zkSync developer Matter Labs. (Source link)

6. Bitcoin ZK Rollup protocol Citrea completes a $2.7 million seed round financing, led by Galaxy Ventures

The Bitcoin ZK Rollup protocol Citrea completed a $2.7 million seed round financing, led by Galaxy Ventures, with participation from Delphi Ventures, Taproot Wizards co-founder Eric Wall, and Avail co-founder Anurag Arjun. Citrea plans to use zero-knowledge encryption technology to help develop the DeFi and NFT ecosystems within Bitcoin.

Citrea's ZK Rollup will be based on the Ethereum Virtual Machine (EVM), allowing developers to migrate applications they have built for Ethereum and other compatible networks. Citrea has not been launched yet, but the team plans to release a test network in the next quarter. (Source link)

7. Decentralized cloud service provider NodeShift completes a $3.2 million seed round financing, led by Inovo.vc

Decentralized cloud service provider NodeShift completed a $3.2 million seed round financing, led by Inovo.vc, with participation from Notion Capital, 10x Founders, Epic Games, and Kestrel0x1. The funds raised will be used to strengthen supply and market promotion efforts.

NodeShift provides a single API for accessing surplus computing, storage, and graphics accelerators from independent data center operators, and connects to low-cost decentralized network services such as Akash and Filecoin. (Source link)

8. Solana infrastructure company Helius completes a $9.5 million Series A financing, led by Foundation Capital

Solana infrastructure company Helius announced the completion of a $9.5 million Series A financing, led by Foundation Capital, with participation from Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel.

Helius is a vertically integrated developer platform that helps build crypto applications on Solana. The company was founded in 2022 by former software engineers from Coinbase and Amazon Web Services. The platform provides a set of tools that enable developers to quickly and easily build applications on Solana. (Source link)

9. Smart contract wallet Clave completes a $1.6 million Pre-Seed round financing, led by Matter Labs

Smart contract wallet Clave completed a $1.6 million Pre-Seed round financing, led by Matter Labs, with participation from Safe, Lambda Class, Mirana Ventures, angel investors Sandy Peng of Scroll, Raj Parekh of Portal, and Anurag Arjun of Avail.

Clave, originating from Opclave, which appeared at the 2023 Ethereum Global Scaling Ethereum Hackathon, aims to provide a simpler blockchain experience for everyone. (Source link)

10. Cryptocurrency infrastructure provider Januar ApS completes a €1.5 million seed round financing, with participation from CMT Digital

Cryptocurrency infrastructure provider Januar ApS completed a €1.5 million seed round financing, with participation from CMT Digital, Skyfall Ventures, Third Prime, and Chainalysis co-founder and CEO Michael Grønager. The total amount raised in its seed round financing has now reached €7.5 million. The funds will be used to launch new products and expand market services. Januar ApS was founded in 2021 with the aim of bridging the gap between the traditional financial system and the decentralized future financial market. (Source link)

II. DeFi

1. Liquidity re-staking protocol EigenLayer receives $100 million financing from a16z

According to Bloomberg, crypto venture capital firm a16z has invested $100 million in the liquidity re-staking protocol EigenLayer. EigenLayer, founded by Sreeram Kannan, supports tokens being deposited or "restaked" on the network to support transaction verification on the blockchain, helping new projects built on Ethereum to utilize the security of the blockchain to protect their networks. (Source link)

2. Binance Labs announces investment in Ethereum liquidity re-staking protocol Renzo

Binance Labs has invested in the Ethereum liquidity re-staking protocol Renzo, based on EigenLayer, with the investment amount undisclosed. Binance Labs' investment structure is the same as the seed round financing, with a 1:1 ratio of equity to token warrants.

According to reports, Renzo plans to launch native ETH re-staking on the BNB Chain in collaboration with cross-chain protocol Connext. BNB Chain users will be able to directly re-stake their ETH as Renzo LRT token ezETH, without the need for cross-chain transactions, and will receive EigenLayer points and Renzo's ezpoints rewards. Renzo will also accept wBETH, stETH, and native ETH for re-staking. (Source link)

3. Ethereum money streaming protocol Superfluid completes $5.1 million strategic financing, led by Fabric Ventures

Ethereum money streaming protocol Superfluid announced the completion of a $5.1 million strategic financing, led by Fabric Ventures, with participation from Multicoin Capital, IOSG Ventures, Circle Ventures, Safe Foundation, The LAO, Taavet+Sten, and other companies. The financing structure is similar to the company's seed round financing, with equity accompanied by token warrants. (Source link)

4. Perpetual contract trading platform OX.FUN completes $4 million new round of financing

Decentralized perpetual contract trading platform OX.FUN, initiated by Zhu Su (@zhusu), completed a new round of financing totaling $4 million. The financing was led by Double Peak Group, EmChain, Genblock Capital, and other institutions. The funds raised will be used for product iteration, team building, and market expansion. (Source link)

5. Centralized lending protocol ZeroLend announces $3 million seed round financing, with participation from Momentum 6 and Blockchain Founders Fund

The zkSync ecosystem decentralized lending protocol ZeroLend announced a $3 million seed round financing at a valuation of $25 million, with investors including Momentum 6, Blockchain Founders Fund, Morning Star Ventures, Banter Capital, Newman Capital, dVdT, Transform Capital, Cypher Capital, Bison Fund, Ozaru Ventures, iAngels, Krypital, Genblock, viaBTC, GBV, Asteroid Capital, as well as angel investors from Curve Finance, MrBlock, Pranav Sharma of Woodstock, and Boxmining. Additionally, ZeroLend stated that it will launch its native governance token ZERO in the first quarter of 2024. (Source link)

6. Mantle ecosystem DeFi protocol INIT Capital completes $3.1 million seed round financing, led by Electric and Mirana

Mantle ecosystem liquidity-linked currency market INIT Capital announced the completion of a $3.1 million seed round financing, led by Electric Capital and Mirana Ventures, with participation from BitMEX founder Arthur Hayes and his family office Maelstrom, Robot Ventures, Nomad Capital, Tangent Ventures, Bankless Ventures, Selini Capital, and Faction, among others.

This round of financing will be used to enhance INIT's technical capabilities and market strategy. INIT will also launch a new product called "Looping Hook" on February 28th. (Source link)

7. BRC-20 project Bitcoin Dogs, based on the Ordinals protocol, completes $3.1 million financing

Bitcoin Dogs, a BRC-20 project based on the Ordinals protocol, announced the completion of a $3.1 million presale financing, with investor information not yet disclosed. The project will launch a play-to-earn game based on a pet simulator. (Source link)

8. ERC404 improvement protocol project LoongCity completes $2 million seed round financing, led by MAZARINE SEA

ERC404 improvement protocol project LoongCity announced the completion of a $2 million seed round financing, led by MAZARINE SEA. LoongCity will launch the ERC1321 protocol, an improvement on the ERC404 protocol, to address the issue of determining the rarity of NFTs by introducing on-chain oracles. (Source link)

9. Berachain ecosystem project Honeypot Finance completes Pre-Seed round financing, led by AC Capital and DEXT Force Ventures

Berachain ecosystem DeFi Hub project Honeypot Finance announced the completion of Pre-Seed round financing, led by AC Capital and DEXT Force Ventures, with the specific amount undisclosed. (Source link)

10. Privacy DeFi access layer Singularity completes $2.2 million financing, led by gumi Cryptos Capital

11. Privacy DeFi access layer Singularity completes $2.2 million financing, led by Silicon Valley venture capital firm gumi Cryptos Capital, with participation from Nomura Securities' digital asset subsidiary Laser Digital, Eureka Partners, and previous investors Apollo Crypto, Digital Asset Capital Management, and Gandel Invest. The funds raised will be used to support protocol development and promote compliant access to DeFi for institutional users. In addition, the Singularity protocol will be officially launched in the coming months.

According to reports, Singularity is a compliant institutional-grade DeFi privacy layer designed to provide access to DeFi protocols for institutional on-chain participants while safeguarding trade secrets. (Source link)

1. Ethereum money streaming protocol Superfluid completes $5.1 million strategic financing, led by Fabric Ventures

Ethereum money streaming protocol Superfluid announced the completion of a $5.1 million strategic financing, led by Fabric Ventures, with participation from Multicoin Capital, IOSG Ventures, Circle Ventures, Safe Foundation, The LAO, Taavet+Sten, and other companies. The financing structure is similar to the company's seed round financing, with equity accompanied by token warrants. (Source link)

Three, Gaming

1. Blockchain gaming studio Crystal Fun completes $5 million seed round financing

Decentralized blockchain gaming ecosystem platform and studio Crystal Fun announced the completion of a $5 million seed round financing. This round of investment was participated in by Kucoin Ventures, Actoz Soft, Waterdrip Capital, Comma3 Ventures, Stratified Capital, Cypher9 Ventures, Aelf Ventures, W Labs, and Masverse. (Source link)

2. Crypto fantasy sports platform Monkey Tilt completes $21 million financing, with participation from Hack VC and others

Crypto fantasy sports platform Monkey Tilt announced the completion of a $21 million financing, with participation from Polychain Capital, Hack VC, Poker Go, Accomplice, Paper Ventures, and Folius Ventures, among others.

Monkey Tilt also announced the upcoming launch of the fantasy game platform MTFantasy in over 20 states in the United States, with a test version set to be released soon. (Source link)

Four, Others

1. Web3 education platform HackQuest announces completion of $1.1 million Pre-seed financing, with participation from STEPN, Gitcoin, and others

Web3 education platform HackQuest announced the completion of a $1.1 million Pre-seed financing, with participation from Find Satoshi Lab, the parent company of StepN, HashKey Capital, ByteTrade Lab, Outlier Ventures, Hash Global, OnePiece Labs, Gitcoin co-founder Scott Moore, Signum Capital partner YY, and support from Open Campus OCX.

Currently, HackQuest has established official developer education or ecosystem development partnerships with over 10 leading public chains such as Mantle Network, Solana, and Arbitrum, and plans to collaborate on courses with universities such as Nanyang Technological University. HackQuest stated that it will use this funding to launch more diverse courses and support more Web3 builders in launching their own projects. (Source link)

2. Silencio Network, focused on combating noise pollution, completes $1 million Pre-Seed round financing

Silencio Network, a decentralized data coverage solution provider based in Munich, Germany, focused on combating noise pollution, has successfully raised $1 million in Pre-Seed round financing. This round of financing 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 measure noise pollution with their phones and receive rewards. (Source link)

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