Between March 16 and March 23, 2024, 42 projects attracted investments totaling $262.8 million.
In particular, during the week the following received funding:
- $60 million – Figure Technologies. The company closed a Series A funding round co-led by Jump Crypto, Pantera Capital and Lightspeed Faction, with participation from Distributed Global, Ribbit Capital and CMT Digital. The funds received will be used to launch the Figure Markets platform, which will operate on the Provenance blockchain. On the site it will be possible to trade cryptocurrencies, stocks and “alternative investments”.
- $55 million - Succinct. The zero-knowledge proofs startup has raised a Seed and Series A round led by Paradigm. Other investors included Robot Ventures, Bankless Ventures, Geometry, ZK Validator, Polygon co-founders Sandeep Nailwal and Daniel Lyubarov, and EigenLayer founder Sriram Kannan.
- $28 million - Espresso. The company has attracted investments from Andreessen Horowitz and Polygon Labs. It is known that the Series B financing round ended in February 2024. The capital will be used to continue developing Espresso products and expanding the team.
- $20 million - Morph. The developers of the second-tier network announced the completion of a seed round of investment, which was led by the Dragonfly Capital fund with the participation of Pantera Capital, Symbolic Capital, Spartan Group, MEXC Ventures, Public Works and other funds. The team plans to use the capital to expand staffing and marketing, as well as improve technical infrastructure.
- $18 million – Mystiko Network. The Web3 protocol team has completed a seed round of funding led by venture capital firm Peak XV Partners (formerly Sequoia Capital India/SEA). Other investors included Samsung Next, Hashkey, Mirana, Signum, Coinlist, Tribe Capital, Morningstar Ventures, Naval Ravikant, Sandeep Nailwal and Gokul Rajaram.
- $11.5 million – Tokenize Xchange. The Singapore cryptocurrency exchange has received investments from venture capital firm Trive and private investors. New funds are used to expand the team. The firm plans to increase its workforce in Singapore fivefold over the next 18 months.
- $11 million - MANTRA. The startup, which aims to create a “tokenization-adapted real-world asset (RWA) network” based on the Cosmos blockchain, has raised funding. The funding round was led by Shorooq Partners with participation from Three Point Capital, Forte Securities, Virtuzone, Hex Trust and GameFi Ventures.
- $9 million - Ten. The Ethereum-based L2 network has received investments from R3, Republic Crypto, KuCoin Labs, Big Brain Holdings, Magnus Capital and DWF Labs. The developers position TEN as a universal, privacy-focused layer 2 solution for Ethereum. It aims to provide fast and inexpensive transactions while maintaining privacy and security.
- $8.5 million - Zone. The African payments company has announced the completion of a seed round of funding led by venture capital firms Flourish Ventures and TLcom Capital. The startup is building a decentralized, blockchain-based payment infrastructure for financial service providers on the continent and beyond. The new funding is used to develop the network within the country and attract more companies. A “significant portion” of the funds received will be used to conduct a comprehensive pilot program to test cross-border payments, planned for 2025.
- $6.2 million - Rails. The decentralized cryptocurrency exchange has raised funding in a seed funding round led by Slow Ventures with participation from CMCC Global, Round13 Capital and Quantstamp. The capital is being used to grow its engineering team and expand its licensing and regulatory strategy.
- $6 million – Keyring Network. The London-based company, which aims to “help institutional investors interact with DeFi platforms,” has closed a seed round of funding. The investors were: Gumi Cryptos Capital, Greenfield Capital, Motier Ventures, Kima Ventures and others.
- $6 million – Moondance Labs. The startup has closed a strategic funding round co-led by KR1, SNZ Capital and Scytale Digital, with participation from Arrington Capital, Borderless Capital, Cross-Chain Fund Wormholecrypto, Hypersphere and Blockchain Founders Fund, as well as angel investors. The funds raised will be used to grow the team and develop the Tanssi infrastructure protocol.
- $3 million - CoinMart. The cryptocurrency platform has raised funding from IDG Capital. The company aims to use the new capital to expand its presence and improve services throughout Europe.
- $3 million - Bi.social. The decentralized social trading protocol announced the completion of a funding round, which included participation from Web3Vision, WAGMi Ventures and QF Capital. The funds will be used for the development of the project.
- $3 million - Tensorplex Labs. The artificial intelligence (AI)-powered Web3 startup has completed a seed round of funding co-led by Canonical Crypto and Collab+Currency with participation from 18 other investors. The company will use the funds to develop a decentralized artificial intelligence infrastructure.
- $2.2 million - GRVT. The hybrid cryptocurrency exchange has raised investments as part of a strategic funding round. The investors were: QCP Capital, Selini Capital and Pulsar Trading.
- $2 million - GAM3S.GG. The Web3 gaming platform has attracted investments from Merit Circle, WWVentures, Cogitent Ventures, P2 Ventures, Cypher Capital, Acheron, Basics Capital, OIG Capital, BreederDAO, Hercules and angel investors. After receiving funding, the company will begin developing its own G3 token.
- $2 million - Umoja. The decentralized protocol has completed its initial round of funding. The project managed to attract funds from venture funds Coinbase Ventures, Blockchain Founders Fund, 500 Global. In addition, the protocol was supported by organizations such as Quantstamp, Orange DAO, Hyperithm Psalion and Avalanche's Blizzard Fund. The capital raised will be used to expand access to the smart money protocol, which offers automated investment strategies.
- $1.5 million - EarlyFans. A SocialFi app built on the Blast ecosystem has received investment in a seed round of funding. The investors were: GBV Capital, Alchemy, Alliance DAO and 9 other counterparties, including private ones.
- $1.5 million – Savage. Web3 company raised funds as part of a seed round of financing. The investors were: Faculty Group, Polygon Ventures, Morningstar Ventures, Ash Crypto, Terranova Ventures, Banter Capital, Vendetta Capital, VBC Ventures, Top7ICO and others.
- $1 million – Juice Finance. A DeFi project built on the Blast ecosystem has attracted funding from Arthur Hayes, DWF Labs, Delphi Digital and others. The startup's goal is to provide innovative solutions in the DeFi sector by leveraging the capabilities of the Blast ecosystem.
- $1 million - Ooga Booga. An aggregator of decentralized exchanges based on Berachain closed a funding round at a valuation of $10 million. The investment was led by the Kenetic Capital fund with the participation of PANONY, CitizenX Crypto Ventures, Cypher Capital Group, Sneaky Ventures and 14 other counterparties.
- $1 million – Castle Of Blackwater. The Web3 game team announced the completion of a strategic round of funding. Investments for the startup were provided by Metrics Ventures, 3Commas Capital and Faculty Group.
- $1 million - Trex20. The GameFi platform, built on Bitcoin, has raised funds from Moonrock Capital, Marshland Capital, NxGen, x21 Digital, Oddiyana Ventures, Triple Gem Capital, Nabais Capital.
- $900,000 - Dolomite. The Arbitrum-based protocol announced the completion of a strategic funding round. Investors included: Polygon co-founder Sandeep Nailwal, DCF GO, Pentoshi, Polygon Labs CEO Marc Boiron and DeFi Dad.
- $500,000 – Bitbrand. The blockchain platform where luxury goods can be purchased digitally has raised funding from Hustle Fund, Side Door Ventures, GFR Fund and others.
A number of other projects have attracted funding, but have not reported the amount of investment.
Rollie Finance, an artificial intelligence trading platform, has received funding from Animoca Ventures, M77 Ventures and private investors.
The OpenStamp platform, built on the STAMP protocol, has raised capital at a valuation of about $50 million. The seed round was led by Animoca Ventures with participation from KuCoin Ventures, MH Ventures, VitalTao Capital, Lotus Capital, Brotherhood Ventures, Blue Node Capital, D64 Ventures, Luminescent Capital, Spicy Capital, Halvings Capital, SPEC Capital and YM Capital. The company will use the new capital to expand and improve its platform.
Blast-based lending protocol Pac Finance has received investment from Manifold.
Entangle announced it has received investment from Consensys.
The startup ZKasino closed a strategic round of financing, in which MEXC, Big Brain Holdings, Pentoshi, 0xSisyphus took part. The company's valuation is $350 million.
The team of the Gull Network L3 solution, built on the Manta blockchain, announced the closing of a strategic round of financing. Investors included GBV Capital, Magnus Capital, x21 Digital, Maven Capital, Basics Capital and others. The funds are used to implement the mission of innovation and business expansion.
Cardano tokenization platform NMKR, which aims to make Web3 accessible, has raised funding from EMURGO Ventures. The new capital will be used to expand NMKR's reach in the Asian NFT and RWA tokenization market.
L1-blockchain XPLA has closed a strategic round of financing, in which the venture capital fund Builder Capital took part.
Eesee, a platform that offers “gamified digital asset trading,” has attracted strategic investment from Animoca Brands.
Online crypto game store HyperPlay has received funding from Square Enix. The company intends to use the funds received to further expand its gaming store.
Venture capital firm Alpha Token Capital has invested in Web3 company Carrieverse, which is creating a metaverse.
Asterix Labs has closed a strategic round of financing. The investors were: 20 Hashed Fund, Everest Ventures, Momentum 6, Arcane Group, DeFi Capital, LiquidX and three other counterparties.
KiloEX is a decentralized exchange built on the BNB Smart Chain and has attracted strategic investments from Foresight Ventures, Poolz Ventures, Manta Network, 7UpDAO and GTS Ventures.
Web3 gaming company Nebula Revelation has completed a new round of funding, with participation from DWF Labs, Waterdrip Capital, Central Research, Stratified Capital and CapsuleX Labs.
The Bitcoin-based L2 solution team, AIL2, announced that it has received strategic investments from Waterdrip Capital, Satoshi Lab, Foundinals Lab, Monday Capital, AlNN Labs, Bitrise Capital, Genblock Capital and others.
The Flash Protocol platform has received funding from DWF Labs, Signum Capital, Rarestone Capital, Cogitent Ventures, Portico Ventures and 4 other counterparties.
Top 5 funds by number of investments in the period from March 16 to March 23, according to CryptoRank data:
During the week, projects in the following segments attracted funding: Web3, blockchain services, blockchain infrastructure, GameFi, DeFi, CeFi, NFT and others.
Let us remind you that in the period from March 9 to March 16, 38 projects attracted investments totaling $258.7 million.