Highlights
According to incomplete statistics from PANews, there were 28 investment and financing events in the global blockchain sector last week (11.11-11.17), with a total funding scale exceeding $190 million, significantly increasing compared to the previous week. The overview is as follows:
- DeFi announced 4 investment and financing events, including the full-chain liquidity asset protocol StakeStone, which completed a $22 million financing round led by Polychain Capital;
- Web3 gaming announced 6 investment and financing events, with chain game developer Ambrus Studio raising a total of $10 million, with participation from Sui Network and others;
- AI announced 3 investment and financing events, including 0G Labs, which completed a $40 million seed round, with participation from OKX Ventures and others;
- Infrastructure and tools announced 9 financing events, including the crypto anti-money laundering company Notabene, which completed a $14.5 million Series B financing round led by DRW Venture Capital;
- Other blockchain/crypto applications announced 5 financing events, including the Web3 education platform Academic Labs, which announced the completion of a new round of financing of $3.2 million, with participation from UOB Ventures;
- Centralized finance announced 1 investment and financing event, with digital asset trading infrastructure provider Wyden completing a $16.4 million Series B financing round.
DeFi
Full-chain liquidity asset protocol StakeStone announced the completion of a $22 million financing round, led by Polychain Capital, with strategic investments from Binance Labs and OKX Ventures, and the seed round led by SevenX. Other participants include Nomad Capital, HashKey Capital, Amber Group, and others. StakeStone aims to build a liquidity ETH/BTC asset standard based on a highly scalable staking network, launching liquidity index BTC (SBTC) and yield-bearing liquidity BTC (STONEBTC) to enhance the application of native BTC in the EVM ecosystem and other blockchain networks. StakeStone plans to provide efficient liquidity support for ecological partners and DeFi protocols such as Berachain and AAVE DAO, promoting practical application.
Water resource RWA project LAKE announces completion of $12.4 million financing
Water resource RWA project LAKE announced it has completed $12.4 million in financing, including $3 million in private placement and $9.4 million in ongoing second-round financing. Investors include Artaize Invest, EMB Venture Capital, Michel Audeban-Business Angel, and MSM family office. The new funds are intended to promote the construction of an innovative Web3 ecosystem to facilitate global fair and decentralized access to water resources and explore the launch of the LAK3 token. Since the end of August, LAKE's second round of financing has raised $9.4 million, exceeding the soft cap of $6.5 million and moving towards a hard cap of $12 million. LAKE is an RWA project that uses blockchain technology to promote global fair and decentralized access to water resources. It plans to change the way users interact with water, from purchasing, selling, acquiring, donating, to even becoming shareholders of water resources.
Blockchain embedded asset financing platform Tranched completes $3.4 million Pre-Seed financing
London-based blockchain embedded asset financing platform Tranched announced the completion of $3.4 million in Pre-Seed financing, led by Speedinvest, with participation from Andressen Horowitz's crypto startup accelerator (CSX), Blockwall, Kima, and OVNI Capital. Specific valuation information has not been disclosed. Tranched aims to simplify the asset financing process through blockchain technology, eliminating the structural complexity and high costs associated with securitization. The new funds will support its business expansion from Europe to lenders, credit funds, asset management companies, and banks.
Cross-chain DeFi platform Folks Finance completes $3.2 million Series A financing
Cross-chain decentralized finance (DeFi) platform Folks Finance raised $3.2 million in Series A financing, achieving a valuation of $75 million. Borderless Capital led this round of financing, with participation from Algorand Ventures, Mapleblock Capital, Sovo Ventures, and others. The first $2 million of this round was raised in February of this year, with the remaining $1.2 million raised recently. After completing Series A financing, Folks Finance's total financing amount reached $6.2 million.
Web3 Gaming
Chain game developer Ambrus Studio raises a total of $10 million, with participation from Sui Network and others
MOBA game E4C: Final Salvation developer Ambrus Studio announced it has completed a total of $10 million in financing, with participation from Sui Network, Spartan, IVC, Red Building, 6th Man Ventures, CVP NOLIMIT, Good Water, and M13. Previously, chain game developer Ambrus Studio completed several million dollars in financing in September this year, led by The Spartan Group.
BetHog, built on the Solana blockchain, completes $6 million seed round financing
The crypto betting platform BetHog, launched by the founder of FanDuel, has officially launched and secured $6 million in seed round financing, led by 6MV, with participation from Will Ventures, Bullpen Capital, and others. BetHog was co-founded by FanDuel co-founders Nigel Eccles and Rob Jones, and the platform is built on the Solana blockchain, with SOL as the supporting token for PvP games. Additionally, BetHog supports betting with Bitcoin, Ethereum, and USDT. BetHog includes original games such as HODL (a crash game for memecoins) and Thermonuclear Boars (a mines game), as well as innovative PvP gameplay, allowing users to play with well-known streamers.
Sports metaverse platform Bitball announces completion of $5 million Series A financing
Sports metaverse platform Bitball announced the completion of $5 million in Series A financing, co-led by IntelligentCricket and Neon Eight Group, bringing the total financing amount to $7 million. This funding will be used to expand its AI-driven sports gaming ecosystem and develop a 3D cricket game based on real-time sports data, expected to launch in the second quarter of 2025. Since its launch in December 2023, Bitball has attracted over 5 million users and plans to hold a BALL token generation event (TGE) in the fourth quarter of 2024.
Web3 gaming company Monster League Studios raises over €3.7 million in financing
Barcelona-based Web3 gaming company Monster League Studios successfully raised over €3.7 million to expand its gaming ecosystem for Mokens League, covering in-game purchases, player rewards, and the application of the $MOKA utility token. Monster League Studios currently has over 50,000 monthly active users and is committed to creating an interconnected gaming experience where assets can be transferred across games. The flagship product currently offered on the platform is a football game, with plans to add new games such as tennis and racing in the future to expand the functionality of $MOKA. This year, the company also received support from Google’s incubation program, optimizing game metrics and enhancing industry competitiveness.
iGaming platform Betski completes $345,000 Pre-Seed financing
iGaming platform Betski announced the completion of $345,000 in Pre-Seed financing, reportedly completed through a combination of 2% equity and 2.25% token supply, from early supporters in Panama and global participants, though specific investor information has not been disclosed. The new funds are intended to support the platform's ability to expand its marketing strategy, enhance its product offerings, and scale quickly.
Social competitive platform MiniTon completes seed round financing, with participation from Waterdrip Capital and others
Social Competitive Platform
The social competitive platform MiniTon announced the completion of its seed round financing. This round of financing was participated in by multiple parties, including Waterdrip Capital, Alchemy Pay, CGV, Web3Port Foundation, PangDAO Head Ricky, and OGBC Innovation Hub Founder Jayden Wei. MiniTon is a project initiated with the support of the TON Foundation. MiniTon helps casual games build their commercialization capabilities after entering Web3 by providing developers with an on-chain profit solution called "Tournaments as a Service (TaaS)." At the same time, MiniTon reconstructs the supply relationship of liquidity in games to address the sustainability issues of the GameFi business model, allowing investors to connect with players by predicting the outcomes of events based on a Bonding Curve pricing model.
AI
0G Labs completes $40 million seed round financing, with participation from OKX Ventures and others
Crypto-AI startup 0G Labs announced it has secured $290 million in new financing, including $40 million in seed round financing and a $250 million token purchase commitment. The project aims to build a decentralized AI operating system (dAIOS) to support the development of on-chain AI applications. Investors in 0G Labs include Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Animoca Brands and its co-founder Yat Siu, Polygon and its co-founder Sandeep Nailwal, Stanford Blockchain Fund, Abstract VC, Alchemy, Blockdaemon, Foresight Ventures, and others. Michael Heinrich, co-founder and CEO of 0G Labs, stated that this token commitment will be used for the ecological development of the 0G protocol, with the token expected to be listed on exchanges next year. The total amount of financing has now reached $325 million, and the new funds will support the team’s expansion to 80 people, promoting ecological projects such as developer incentives, hackathons, and community building.
Web3 AI company Eidon AI completes $3.5 million seed round financing, led by Framework Ventures
Web3 artificial intelligence company Eidon AI has completed $3.5 million in seed round financing, led by Framework Ventures, with participation from Cayman Islands venture capital firm cyber.Fund. This is Eidon’s total financing to date. Eidon encourages users to provide data for training AI models through incentive mechanisms, aiming to build a decentralized AI network. Users can submit new data, including fine hand movements or object interactions, and other users can verify the authenticity of the data through an upcoming blockchain. This round of financing will be used for team expansion and network infrastructure development.
Decentralized AI as a Service cloud project Heurist has completed $2 million in Pre-Seed financing, with participation from Amber Group, Contango Digital Assets, Manifold, Selini Capital, Sharding Capital, X Ventures, Zephyrus Capital, Mozaik Capital, Steroids Capital, and several angel investors. Heurist is addressing critical AI infrastructure challenges based on a ZK stack, making it as accessible as the internet, with serverless deployment, elastic resource scaling, and a community-owned computing network.
Infrastructure & Tools
Crypto anti-money laundering (AML) startup Notabene has completed $14.5 million in Series B financing, led by DRW Venture Capital, with participation from Apollo, Nextblock, ParaFi Capital, and Wintermute. Notabene aims to help cryptocurrency trading companies comply with AML regulations and provide a SWIFT-like crypto transaction information network for virtual asset service providers (VASPs), with 165 companies, including Copper, OKX, and Ramp, already using its platform. As Europe incorporates updated funds transfer regulations (TFR) into crypto trading, Notabene CEO Pelle Braendgaard expects platform transaction volumes to increase significantly, currently processing about $2 billion in transactions daily. He noted that compliance requirements in Europe will push the global crypto industry into a stricter regulatory framework. Braendgaard predicts that under a future Trump administration, the U.S. may follow Europe’s TFR and MiCA policies to attract crypto trading back to the U.S.
Animoca Brands announced it has raised an additional $10 million for its Web3 project Mocaverse, having previously announced a total investment of $31.88 million last year. This investment comes with a free additional warrant for the MOCA Coin utility token, with an implied fully diluted value (FDV) of $1 billion, structured similarly to the previously announced two-part investment. Participants in this round of financing include OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital, and others.
The company will use the new funds to advance its goal of accelerating the mass adoption and interoperability of Web3, specifically by continuing to expand and build Mocaverse, which serves as an interoperable infrastructure layer for consumer cryptocurrency adoption, including account, identity, and reputation systems. This includes the Realm SDK, an interoperable software development kit (SDK) that allows partners to create their own reputation-based ecosystems and provide corresponding application experiences that can interoperate with all ecosystems built on the Moca network.
Blockchain crypto signature solution provider Ennoventure completes $8.9 million Series A financing
AI-based blockchain crypto signature solution provider Ennoventure announced it has completed $8.9 million in Series A financing, led by Tanglin Venture Partners, with participation from Fenice Investment Group and other SAFE investors. Specific valuation information has not been disclosed. Ennoventure's platform uses technologies such as AI and blockchain to track product packaging through application scanning for product authentication and supply chain management, with its patented invisible signature technology extending to industries such as fast-moving consumer goods, automotive, and industrial components.
ZK co-processor Brevis Network has completed $7.5 million in seed round financing, co-led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey, and several undisclosed angel investors. Brevis began raising funds for this round in June and completed it in September; this round of financing was conducted through a token issuance, but the post-financing valuation has not been disclosed. Brevis is a ZK co-processor or computing network designed to enhance blockchain scalability using ZK proofs. By performing complex tasks (such as data processing) off-chain and sending only verified proofs back to the blockchain, Brevis aims to reduce the blockchain's workload, increase speed, and lower costs. Brevis's ZK co-processor is currently in the Beta mainnet phase; Brevis's "SpaZK Verifiable AI" product is still under active development and will be released in future phases.
TAC completes $6.5 million financing to provide EVM application access for TON and Telegram users
The TON network expansion project TAC has completed $6.5 million in seed round financing, led by Hack VC and Symbolic Capital, with participation from Primitive, Paper Ventures, Karatage, Animoca Ventures, and others. TAC will provide seamless access to Solidity applications for TON and Telegram users and plans to launch a testnet this week, with the mainnet expected to launch in the first quarter of 2025. TAC aims to connect Ethereum developers with the TON blockchain ecosystem, simplifying the development process on TON. This financing will be used for marketing, developer relations, and technical research and development.
Filecoin L2 project Akave completes $3.45 million financing and launches Yucca testnet
Decentralized data storage project Akave successfully completed $3.45 million in financing, with participation from Protocol Labs, Blockchange VC, Lightshift, and Blockchain Builders Fund. This financing will be used to accelerate Akave's development in on-chain data management. Akave has launched the Yucca testnet, open to early testers, to explore on-chain data storage and programmability. As a Layer 2 solution for Filecoin's hot storage, Akave provides tools for enterprises, AI companies, and DePIN developers to move beyond traditional cloud storage, build on-chain data lakes, and promote the development of data ownership and new data monetization models. Additionally, the Filecoin L2 project Storacha also announced the launch of its Alpha version network for the Filecoin ecosystem, focusing on high-performance hot storage, primarily targeting high-demand application scenarios such as gaming, AI, and DePIN. Storacha was founded by core developers of IPFS and Filecoin, dedicated to providing a distributed storage experience comparable to traditional S3.
OKX Ventures announces investment in the Ethereum Layer 2 network Corn created for BTCfi
OKX Ventures announced its investment in Corn, marking an important step in introducing Bitcoin applications into the Ethereum ecosystem. Corn is based on Arbitrum and integrates support from Coinbase, enabling BTC holders to access the Ethereum DeFi ecosystem. Through a unique, secure, and sustainable approach, Corn maximizes the potential of Bitcoin and has achieved several significant milestones, such as becoming the first Ethereum L2 network to use hybrid tokenized Bitcoin (BTCN) as gas fees, and also the first network to implement Bitcoin security guarantees through Babylon, supporting BTC LST liquidity. The core innovation of Corn is BTCN, a hybrid tokenized Bitcoin supported 1:1 by native BTC. This unique model allows BTC holders to use BTC to pay gas fees within the Ethereum DeFi ecosystem while maintaining the core value of Bitcoin.
Web3 infrastructure platform Caldera acquires the Hook team
Web3 infrastructure platform Caldera, supported by Founders Fund, has acquired the Hook team to jointly build the Ethereum Rollup infrastructure platform Metalayer. The acquisition amount has not been disclosed, following Caldera's completion of a $15 million Series A financing in July. The Hook team originally developed the Hook Odyssey protocol, focusing on perpetual futures markets for meme coins and NFTs, built on the Arbitrum Orbit framework, but the protocol has been discontinued to allow the team to focus on the development of Metalayer. Caldera is a Rollup-as-a-Service platform that has assisted over 50 projects in creating application-specific chains, including Manta Pacific, Injective, and ApeChain. The Metalayer platform aims to optimize the development experience of multiple Rollup applications and enhance the synergy between Optimistic and ZK Rollup frameworks to unify Ethereum's scaling ecosystem.
Zerion completes a new round of financing and launches the gas-free Layer 2 network ZERO Network
Zerion has launched the "free" Ethereum Layer 2 network ZERO Network, which allows Zerion Wallet users to transact, mint, swap, and bridge without paying gas fees, using native account abstraction with smart accounts and payers to provide free transactions for Zerion wallet users. Zerion also announced that it has received undisclosed financing support from angel investors.
Others
Web3 education platform Academic Labs completes $3.2 million financing
Web3 education platform Academic Labs announced the completion of a new round of financing totaling $3.2 million, with participation from UOB Ventures Management, Signum Capital, HTX Ventures, Web Master, WIDUS Partners, DWF Ventures, Blockchain for Good Alliance, Citystate Group, and others. Academic Labs is described as an EduFi ecosystem that enhances the personalization and ownership of knowledge and skills sharing. The team revealed that information about new products, token airdrops, and token listings will be released in the coming weeks.
❜mbd completes $3 million pre-seed round financing, led by Mask Network and Polymorphic Capital
Web3 social application intelligent recommendation system developer ❜mbd has completed $3 million in pre-seed round financing. This round was co-led by Mask Network and Polymorphic Capital, with participation from a16z crypto, CSX, Forward Research, Social Graph Ventures, and WAGMI. ❜mbd aims to enhance content personalization and interactivity in Web3 social applications through an AI-driven recommendation system and has integrated AWS and Google Cloud AI startup support programs. ❜mbd focuses on developing decentralized content recommendation and review protocols, providing low-latency, real-time updated machine learning APIs to offer Web3 developers a personalized experience similar to Web2 social platforms.
Web3 health tech startup Pulse completes $1.8 million Pre-Seed round financing
Web3 health tech startup Pulse announced the completion of $1.8 million in Pre-Seed round financing, co-led by Collab+Currency and Lemniscap, with participation from Delphi Digital, Lattice Fund, Solana co-founder Anatoly Yakovenko, and Santiago R Santos. Pulse's platform aims to address the healthcare trifecta of balancing privacy, personalization, and prevention while allowing users full control over their data. Pulse's digital twin technology consolidates data from wearables, electronic health records, and diagnostic data into a comprehensive, unified health profile. The Pulse wearables integrated with the platform can track key health metrics such as heart rate variability, sleep patterns, and blood oxygen levels across more than 50 activities.
Maritime asset tokenization fintech platform Shipfinex completes $1.5 million seed round financing, led by Best Oasis Limited and others
Maritime asset tokenization fintech platform Shipfinex announced the completion of $1.5 million in seed round financing, led by Best Oasis Limited and Mr. Gaurav Mehta, Chairman of SPM Shipping DMCC, with participation from Mr. Vivek Seth, Senior Vice President of ADNOC Logistics & Services, and Mr. Yasovardhan Chinn, founder of Nanlian Ship Management LLC. Specific valuation information has not been disclosed. The new funds will support its goal of achieving partial ownership of maritime assets through blockchain, democratizing maritime finance, and collaborating with the Dubai Virtual Assets Regulatory Authority (VARA) to develop a secure and compliant maritime asset token (MAT) market.
Brazilian blockchain startup Multiledgers completes $1 million financing, led by Indicator Capital and others
Brazilian blockchain startup Multiledgers announced the completion of a new round of financing totaling $1 million, led by Oxygea Ventures and Indicator Capital (each investing $475,000), with Koyamaki Ventures participating (investing about $50,000). The company plans to use the new funds to help enterprises create, manage, and integrate networks to manage and authenticate information and assets, with its primary use case being on-chain management of environmental certificates to ensure compliance.
Centralized Finance
Digital asset trading infrastructure provider Wyden completes $16.4 million Series B financing
Digital asset trading infrastructure provider Wyden announced the completion of $16.4 million (14.5 million Swiss francs) in Series B financing, led by French fintech investment firm Truffle Capital, with new investors such as Postfinance, SBI-Sygnum-Azimut Digital Asset Opportunities Fund, and Fivet Fintech also participating. Existing investor C3 Venture Capital also took part in this financing.
Wyden stated that it plans to use this investment to accelerate the expansion of sell-side services for banks, brokers, and exchanges. It also plans to enter markets that regulate digital asset operations like traditional financial services. In addition to integrating another 20 banks, brokers, and exchanges, Wyden plans to strengthen its functions and development center in Poland. Wyden has been expanding its customer base, particularly among regulated banks and brokers in Europe. It is actively seeking partnerships with more banks and brokers to obtain crypto licenses across various European countries.
Investment Institutions
Portal Ventures' second fund completes $90 million oversubscription
The early-stage cryptocurrency investment fund Portal Ventures is nearing completion of its second fundraise, reaching $75 million, oversubscribed to $90 million. Chris Dixon and Marc Andreessen from a16z, Henry Kravis from KKR, and several managing directors from Insight Partners participated in the investment. The fund was founded by Evan Fisher and focuses on first-round investments in cryptocurrency startups. Its first fund of $40 million was completed in early 2022, with major investments made during the 2023 bear market, and it is fully deployed, with returns expected to be distributed next year.
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