Highlights
According to incomplete statistics from PANews, there were 18 financing events in the global blockchain sector last week (12.16-12.22), with a total funding scale exceeding $160 million, significantly reduced compared to the previous week. The overview is as follows:
- DeFi announced 3 financing events, including BVNK successfully raising $50 million in a Series B round of equity financing, led by the cryptocurrency-focused giant fund Haun Ventures;
- AI reported 4 financing events, with Fraction AI completing $6 million in Pre-Seed financing, co-led by Spartan Group and Symbolic Capital;
- The Infrastructure and Tools sector announced 2 financing events, including Layer-1 blockchain Plume completing a new round of financing of $20 million, with participation from Brevan Howard Digital, Haun Ventures, and others;
- Other blockchain/crypto applications reported 5 financing events, including Aave developer Avara raising $31 million for the development of Lens, led by Lightspeed Faction;
- The Centralized Finance sector announced 3 financing events, with Prometheum completing $20 million in financing, sourced from a group of undisclosed individuals and institutions.
DeFi
UK-based stablecoin infrastructure company BVNK successfully raised $50 million in a Series B round of equity financing, led by the cryptocurrency-focused giant fund Haun Ventures, with participation from Coinbase Ventures and existing investor Tiger Global. According to insiders, following this round of financing, BVNK's valuation is approximately $750 million. A BVNK spokesperson declined to comment on the valuation.
It was noted that although BVNK is opening offices in San Francisco and New York and plans to launch services in the U.S. in January, it has been focused on the European and Asian markets. A key component of BVNK's value proposition lies in its licenses and relationships with financial institutions, which facilitate the flow of funds between different fiat currencies. BVNK holds a virtual asset service provider license in Spain, enabling it to establish partnerships with several major European banks, including Barclays, BBVA, Deutsche Bank, and Santander.
DeFi application layer Rujira announces completion of $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 funding through over-the-counter transactions to further support the development of Rujira. The completion of this financing also clears a key hurdle for the RUJI TGE, which is expected to take place in February next year. As always, this timeline is for reference only and may change." It was introduced that Rujira is a DeFi application layer on THORChain, created by the Rujira alliance between Kujira, Levana, and THORChain. It combines Kujira's DeFi tools with THORChain's liquidity and cross-chain capabilities for seamless, bridge-free access to blockchain networks.
UTXO Stack completes new round of financing, valuation reaches $50 million
UTXO Stack announced the completion of a new round of financing led by UTXO Management, PAKA Fund, and CMS Holdings, with a valuation of $50 million. This financing will be used to accelerate liquidity development for the Lightning Network, introduce stablecoins into the Bitcoin ecosystem, and plans to launch a Bitcoin liquidity provider airdrop incentive in early January 2024, while conducting the first token generation event (TGE) on the Lightning Network.
AI
Fraction AI, a decentralized data labeling crypto and AI startup, completed $6 million in Pre-Seed financing, co-led by Spartan Group and Symbolic Capital, with other investors including Borderless Capital, Anagram, Foresight Ventures, and Karatage. Additionally, angel investors such as Polygon co-founder Sandeep Nailwal and NEAR Protocol co-founder Illia Polosukhin also participated and serve as advisors.
Founded in February 2024, Fraction AI aims to reshape the data labeling process through decentralization, employing a hybrid approach that combines human insights with AI agents. Its platform primarily includes three types of participants: stakers who earn rewards by staking ETH or liquid staking tokens (like stETH), developers who create AI agents and participate in challenges, and reviewers who assess results based on specific criteria using the native token FRAC. Fraction AI plans to launch its mainnet and native token FRAC by the end of Q1 or early Q2 2025, having completed closed testing, with public testing expected next month and over 60,000 test users currently. The company is developing on Ethereum and plans to expand to NEAR and multiple Ethereum Layer 2 networks.
Decentralized AI training platform FLock completes $3 million strategic round financing, led by DCG
Decentralized AI training platform FLock announced the completion of $3 million in strategic round financing, bringing total funding to $11 million. This round was led by Digital Currency Group (DCG), the parent company of Grayscale, with Lightspeed Faction participating in a follow-up round, along with strategic partners such as Animoca Brands, Fenbushi Capital, Gnosis VC, GSR Ventures, OKCoin Japan, Bas1s Ventures, and A41. This 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 centralized AI 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.
Decentralized AI agent payment protocol Skynet completes $1.2 million Pre-Seed round financing
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. The 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. Skynet's 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 allows AI agents to complete real-world tasks, including booking flights, managing accommodations, and handling financial portfolios.
Decentralized AI data chain Masa completes new round of financing, led by DCG
Decentralized AI data chain Masa announced the completion of a new round of financing, led by Digital Currency Group (DCG), with participation from FBG Capital, though the specific amount has not been 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 customizable AI frameworks and the expansion of the AI agent ecosystem using real-time data.
DePIN
VanEck invested $2.5 million in the decentralized autonomous wireless network DAWN, sourced from VanEck's Digital Assets Alpha fund and VanEck Ventures. VanEck revealed that this strategic financing marks "the first direct investment by multiple VanEck funds in the same company." Part of the $2.5 million will be used to expand retail participation through hardware, allowing users to create small networks for internet sharing and enabling DAWN to expand internationally. Andrena CEO Neil Chatterjee stated that with the rollout of 5G and Starlink, society is shifting from wired internet to fully wireless internet, and DAWN aims to leverage this "life-changing" transition. Currently, DAWN's user base is primarily concentrated in the U.S. The team's two main goals are to achieve on-chain revenue and household users through their plans. Chatterjee declined to disclose specific figures for these two metrics but noted that the team is working towards "millions" level targets.
Infrastructure & Tools
Plume, a fully modular integrated Layer-1 blockchain focused on Real World Asset Finance (RWAfi), has completed a new round of financing totaling $20 million, with investments from Brevan Howard Digital, Haun Ventures, Lightspeed Faction, Galaxy Ventures, Superscrypt, Hashkey, Laser Digital (a subsidiary of Nomura Group), A Capital, 280 Capital, SV Angel, Reciprocal Ventures, and others, bringing its total funding to $30 million. Plume plans to use the funds raised in this latest round to expand from crypto-native users to traditional financial companies and asset management firms. It is reported that Plume is a fully modular integrated Layer-1 blockchain focused on RWAfi, providing a composable, EVM-compatible environment for accessing and managing various real-world assets. Plume offers an end-to-end tokenization engine and a range of financial infrastructure partners to simplify asset access processes and achieve seamless integration of real-world assets with DeFi.
Crypto and NFT trading analysis platform DexCheck completes new round of financing, with participation from ChainGPT Labs
Crypto and NFT trading analysis platform DexCheck announced on X platform that it has completed a new round of financing, with ChainGPT Labs participating. The specific investment amount and valuation data have not been disclosed. The new funds are intended to enhance its AI capabilities for token analysis, wallet analysis, crypto whale tracking, and to expand tools like InsightsGPT to help traders make informed decisions.
Others
Web3 Social
Aave developer Avara raises $31 million for Lens, led by Lightspeed Faction
Aave protocol developer Avara announced the completion of a $31 million financing round led by Lightspeed Faction. Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures also participated. Additionally, angel investors involved in this round include Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson. With Lens, Avara is building a decentralized protocol that provides infrastructure for social and consumer applications. This financing news comes a few weeks after Lens announced its newly upgraded version, Lens v3. Lens v3 is initially built on the Polygon blockchain, with consumer applications using Lens v2 including NFT creation and sharing app Zora, Twitter-like platform Hey, and community-focused app Orb. With Lens v3, the company is addressing one of the biggest issues in web3 social experiments—transaction costs.
SocialFi project Metya completes strategic financing, led by CGV Capital
AI-driven SocialFi project Metya announced the completion of strategic financing led by investment firm CGV (Cryptogram Venture), with the specific financing amount not disclosed. This round of financing will help Metya deepen its layout in the Web3 social ecosystem, promoting product innovation and user growth. Metya is a SocialFi project that combines AI and blockchain technology, pioneering the DatingFi model, aiming to create a borderless and efficient social experience for users through a decentralized network and cross-language features. Metya has attracted over 8.5 million active users and previously launched the smart hardware device MeAi.
Web3 content monetization platform Promeet completes $3.1 million Pre-Seed financing
Web3 content monetization platform Promeet announced the completion of $3.1 million in Pre-Seed financing, raised through a SAFE (Simple Agreement for Future Equity), but the investors have not been disclosed. With the new funds, Promeet plans to expand its team, enhance platform functionality, and grow its user base. It is reported that Promeet is now live and operational, having attracted thousands of creators, and facilitates transactions on the Polygon network using USDC, ensuring creators can receive payments quickly and securely, with lower fees compared to traditional platforms.
Consumer Applications:
DuckChain completes $5 million financing, with participation from DWF Ventures and others
TON ecosystem consumer layer DuckChain announced the successful completion of $5 million in financing, with investors including DAO5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove VC, Skyland VC, Geek Cartel, Gate.io, Presto Labs, and others. Additionally, angel investors from well-known projects like CamelotDEX and Quantstamp also participated in this round of financing. DuckChain plans to use these funds to unlock the on-chain potential of over 30 million Telegram Star users through TON-based EVM solutions. At the same time, DuckChain has launched the "Yellow Duck Mission" hackathon, with a total prize pool of $1 million, in collaboration with Wallet, Arbitrum, and OnePiece Labs.
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. It is reported that Silencio Network combines decentralized infrastructure with hyper-local data to transform industries such as urban planning, real estate, and hospitality. By providing street noise intelligence, the platform offers actionable insights to governments, businesses, and consumers, shaping a smarter and more sustainable environment.
Centralized Finance
Tokenized securities company Prometheum completes $20 million financing
Tokenized securities company 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. Previous reports indicated that the crypto company Prometheum, which has close ties with the U.S. Securities and Exchange Commission (SEC), is facing new challenges. With Donald Trump elected president and SEC Chairman Gary Gensler announcing his departure early next year, the company's previous business model based on "crypto assets as securities" may need to be repositioned.
Cross-border payment service provider Juicyway completes $3 million Pre-Seed financing
Stablecoin-based cross-border payment service provider Juicyway announced the completion of $3 million in Pre-Seed 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 deposit and withdrawal services with stablecoins as a bridge, promoting instant settlements and reducing reliance on highly volatile currencies.
BitDCA completes $2 million Pre-Seed financing to launch Bitcoin savings app "Littlebit"
Fintech innovation company BitDCA has completed $2 million in Pre-Seed financing to launch a Bitcoin savings application called "Littlebit." The investors have not been disclosed. It is reported that BitDCA, headquartered in the Czech Republic and founded in 2019, aims to simplify long-term Bitcoin investment by launching a user-friendly dollar-cost averaging (DCA) solution. The Littlebit app allows users to automatically save a certain percentage of their daily expenses as Bitcoin. The company's operational plan includes entering the Czech Republic and Poland markets in Q1 2025, followed by expansion into the UK.
Investment Institutions
Big Time Studios announces the establishment of a $150 million Open Loot fund
Big Time Studios has announced the establishment of a $150 million Open Loot fund aimed at promoting game development on the Web3 gaming platform Open Loot. The fund will provide financial support, marketing, and development guidance to game studios, helping them develop high-quality crypto games. The Open Loot platform has 1.5 million registered players and supports developers in minting and distributing digital assets through an SDK, while rewarding players and developers with the $OL token. The platform has achieved nearly $500 million in transaction volume to date.
Blockchain venture capital Verda Ventures partners with Opera to launch a $40 million MiniPay fund
Blockchain venture capital firm Verda Ventures has announced a partnership with web browser company Opera to launch a $40 million MiniPay fund to support blockchain startups in emerging markets. The fund's investors also include Jump Crypto, Borderless Group, and Richard Parsons. Startups benefiting from the MiniPay fund will have access to Opera's MiniPay wallet framework and will build financial products around it, while also integrating relevant infrastructure for development.
Web3 chess game company Immortal Games launches a $2 million investment fund
Web3 chess game company Immortal Games has announced the launch of a $2 million investment fund to attract gaming guilds and Web3 game projects to its on-chain esports tournament platform, Coliseum.
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