Last week, there were a total of 25 public financing events in the cryptocurrency market, with a significant increase in financing rounds and total amounts | Investment and Financing Weekly Report

Organizer: Cookies, RootData

According to incomplete statistics from RootData, during the period from September 11 to September 17, 2023, there were a total of 25 publicly disclosed financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $101.6 million, showing a significant increase in both the number of financing rounds and total amounts.

From the perspective of track distribution, the projects that received financing were mainly concentrated in the infrastructure and DeFi tracks, completing 8 and 6 financing rounds respectively. The infrastructure category focused on sub-sectors such as stablecoins (Mountain Protocol), payment platforms (Parallax, Fipto), and modular networks (Layer N, Movement Labs).

Perhaps stimulated by the Token2049 conference in Singapore, on September 11, a total of 10 cryptocurrency projects disclosed new financing, including the hybrid on-chain exchange Gravity (GRVT), wallet security infrastructure 0xPass, and the NFT project Mocaverse under Animoca Brands, among others.

Cryptocurrency-native venture capital firms ABCDE Capital and dao5 were more active, with ABCDE Capital consecutively publishing papers titled “Why We Invested in Gravity?” and “Why We Invested in GasZero?”. dao5 co-led the seed round for the modular L2 protocol Layer N and also participated in the Move modular blockchain network Movement Labs.

*（List of some projects that completed financing last week, data source: * Rootdata）

I. Infrastructure

1. Financial group Flashwire Group completes $10 million Series A financing, with participation from Legend Trading and others
Financial group Flashwire Group has completed a $10 million Series A financing, with investors including Legend Trading, Cobo, Gate.io, VeChain, CyberX, SuperChain Capital, and others.

Flashwire Group aims to connect traditional finance with the Web3 industry, offering products such as a crypto-friendly digital bank (Flashwire.com), a cryptocurrency debit card Stella Pay (stellapay.io), and a cryptocurrency lending platform Anxin Finance (Anxin.finance).

2. Wallet security infrastructure 0xPass completes $1.8 million Pre-Seed financing, with participation from AllianceDAO and others
0xPass has completed $1.8 million in Pre-Seed financing. Investors include AllianceDAO, Soma Capital, Alchemy Ventures, Blockchain Builders Fund, Formulate Ventures, Kommune, Hashed EM, Signum Capital/UOB, Nonce Classic, and angel investors Balaji Srinivasan (former CTO of Coinbase) and Cory Levy.

0xPass aims to bring a Web 2.0-like user experience to dApps, allowing mainstream users to enjoy modern UX advantages in a wallet-agnostic manner, enabling developers to integrate multiple authentication methods into non-custodial wallets. (Source link)

3. USD stablecoin USDM issuer Mountain Protocol completes seed round financing, led by Nic Carter
USD stablecoin USDM issuer Mountain Protocol announced the completion of its seed round financing, led by Nic Carter, co-founder of Castle Island Ventures, with participation from Coinbase Ventures, Nansen CEO Alex Svanevik, New Form Capital, Daedalus, OpenZeppelin CEO Demi Brener, and others.

It is reported that Mountain Protocol has launched a yield-generating stablecoin called USDM, which received a digital asset issuance license from the Bermuda Monetary Authority on July 27. (Source link)

4. Cross-border payment platform Parallax completes $4.5 million seed round financing, led by Dragonfly
Cross-border payment platform Parallax announced the completion of $4.5 million in seed round financing, led by Dragonfly, with participation from Circle Ventures (USDC issuer), General Catalyst, gumi Cryptos Capital, Palm Drive Capital, Comma Capital, Firsthand Alliance, and angel investors Balaji, Zach Abrams, among others. The new funds will be used to continue expanding the team and business scale.

Parallax's initial product allows users outside the U.S. to open virtual dollar accounts and receive dollars using just their passports, while the team is building and expanding stablecoin cross-border payment capabilities. (Source link)

5. Web3 cross-chain community operating system Club3 announces $3 million seed round financing, led by LinkVC
Web3 cross-chain community operating system Club3 announced the completion of $3 million in seed round financing, led by LinkVC, with participation from Yuanwang Capital, BCH Foundation, Digifinex, and others.

Club3, as a one-stop Web3 cross-chain community operating system, provides project parties with precise user traffic, loyalty management, and other no-code SaaS tools based on user on-chain data, helping project parties achieve their Go To Community (GTC) strategy. (Source link)

6. Modular L2 protocol Layer N completes $5 million seed round financing, led by Founders Fund and dao5
Modular L2 protocol Layer N announced the completion of $5 million in seed round financing, led by Founders Fund and dao5, with participation from Kraken Ventures, Spencer Noon, and others. It is reported that Founders Fund invested $1.8 million in this round. Layer N focuses on increasing transaction throughput and reducing latency to replicate the speed of traditional financial markets in the blockchain space.

Previously, Layer N planned to build its blockchain on Solana and announced funding from FTX Ventures before the collapse of FTX in November 2022, but those funds were not realized in time. Layer N plans to launch its testnet within one to two months, but the company has not yet decided whether to issue tokens like other Layer 2s such as Optimism and Arbitrum due to regulatory uncertainties and unresolved issues regarding whether tokens will add value for users. (Source link)

7. Modular blockchain network Movement Labs completes $3.4 million Pre-Seed financing, led by Varys Capital and dao5
The modular blockchain network Movement Labs, based on the Move language, announced the completion of $3.4 million in Pre-Seed financing, led by Varys Capital, dao5, Blizzard The Avalanche Fund, Borderless Capital, and its cross-chain fund focused on the Wormhole ecosystem, with participation from Colony, Interop Ventures, Elixir Capital, BENQI, and individual investors including George Lampeth from dao5, Calvin Liu from Eigenlayer, Smokey The Bera from Berachain, Anurag Arjun from Avail, CoinFlipCanada from GMX, and co-founders from Ankr.

Movement Labs also announced the launch of Movement SDK, which provides a secure and high-performance Move environment for the blockchain ecosystem. (Source link)

8. Cross-border payment platform Fipto completes €15 million seed round financing, led by Serena Capital and Motier Ventures
Cross-border payment platform Fipto has completed €15 million in seed round financing, led by Serena Capital and Motier Ventures. Fipto plans to use this round of financing to further develop its platform, providing integrated payment and financial solutions that enable businesses to leverage the advantages of blockchain to exchange and send any currency. (Source link)

II. CeFi

1. New venture capital firm Modular Labs completes Pre-Seed financing, led by Hashed and K300
New venture capital firm Modular Labs has completed Pre-Seed financing, led by Hashed and K300, with participation from GuildFi and GBV. The amount of financing has not been disclosed. Modular Labs will provide support and resources for developers utilizing modular blockchain, aiming to become a leading venture capital firm in Asia to accelerate the mass adoption of Web3 in the region. (Source link)

2. Cryptocurrency startup Immix completes $2.7 million seed round financing, led by MassMutual Ventures
London-based cryptocurrency startup Immix has completed $2.7 million in seed round financing, led by MassMutual Ventures, with participation from Ripple.

It is reported that this round of financing will be used to develop Immix's trading platform and enhance its execution capabilities for market-making products. Immix was initially a cryptocurrency hedge fund and has now shifted to a non-custodial trading system for institutional investors. (Source link)

III. DeFi

1. Hybrid on-chain exchange Gravity completes seed round financing, led by Matrix Partners
Hybrid on-chain exchange Gravity has completed seed round financing, led by Matrix Partners, with participation from ABCDE Capital, Hack VC, Delphi Digital, C² Ventures, CatcherVC, and others. Gravity plans to launch its testnet in Q4 2023 and its mainnet in Q1 2024.

It is reported that GRVT (Gravity) is a hybrid on-chain exchange that combines the user experience of Cex with the fund security of Dex. Gravity aims to become the primary derivatives trading protocol on zkSync, competing with GMX on Arbitrum and Dydx on Starkex. (Source link)

2. On-chain certification platform Okapi completes Pre-Seed financing, led by Mirana Ventures and Mask Network
On-chain certification platform Okapi has completed Pre-Seed financing, led by Mirana Ventures and Mask Network, with participation from GoPlus Security. It is reported that Okapi is a certification platform that combines content with reputation. (Source link)

3. On-chain asset management platform Range Protocol completes $3.75 million seed round financing, led by HashKey Capital and others
On-chain asset management platform Range Protocol has completed $3.75 million in seed round financing, co-led by HashKey Capital and Nomad Capital, with participation from Spark Digital Capital, Mirana Ventures, Symbolic Capital, Asymm Ventures, and Comma3 Ventures. The funds from this round will be used to continue building Range Protocol's integrated on-chain asset management platform and further expand the team and community.

According to the cryptocurrency data platform RootData, Range Protocol is an on-chain asset management platform designed to provide a fair competitive environment between retail investors and professional digital asset managers. The platform is currently deployed on Ethereum, BSC, Mantle, Polygon, and Arbitrum. (Source link)

4. DeFi yield aggregator Portals completes $500,000 seed round extension financing, with participation from DCG and others
DeFi yield aggregator Portals has completed $500,000 in seed round extension financing, with participation from Bankless Ventures, Digital Currency Group (DCG), and Founderheads. This round of financing is an extension of the previous seed round financing.

Previous news reported that DeFi yield aggregator Portals completed $2 million in seed round financing, led by Lightshift Capital. (Source link)

5. DeFi data analysis platform Octav completes $2.65 million seed round financing, with participation from Polymorphic Capital and others
DeFi data analysis and tax reconciliation platform Octav announced the completion of $2.65 million in seed round financing, with investors including Nascent, Polymorphic Capital, Parallel Studio, Spaceship DAO, Investmeows, Possible Ventures, Speedinvest, ACET Capital, and others, as well as individual investors such as Markc Zeller, strategic head of Aave, and former Sushiswap CEO 0xMaki.

It is reported that Octav is a free and editable data analysis platform that helps decode DeFi investment activities. Octav is currently in the testing phase, with thousands of users, having integrated 7 chains, and indexed over 100 million transactions. (Source link)

6. On-chain derivatives protocol ProsperEx receives investment from Magnus Capital

The on-chain RWA derivatives protocol ProsperEx has now received strategic investment from the well-known cryptocurrency investment firm Magnus Capital, with the investment amount undisclosed. Meanwhile, both parties have also reached a long-term strategic partnership, with Magnus Capital providing industry resources to accelerate the development of ProsperEx's ecosystem. Previously, ProsperEx had received strategic investments from ADA fund EMURGO Ventures, Central Research, AC Capital, and others.

IV. Gaming

1. Gaming startup Pahdo Labs completes $15 million Series A financing, led by a16z
Gaming startup Pahdo Labs announced the completion of $15 million in Series A financing, led by a16z, with participation from Pear VC, BoxGroup, Long Journey Ventures, Neo, and Global Founders Capital.

Founded in 2021, Pahdo Labs is developing an action role-playing game called "Halcyon Zero." (Source link)

2. Web3 strategy game Age of Dino developer completes $8 million seed round financing, with participation from Xterio and others
Web3 strategy game Age of Dino developer GamePhilos has completed $8 million in seed round financing, led by Xterio, Animoca Ventures, SevenX Ventures, and Chain Hill Capital, with follow-on investments from Hashkey Capital, Sanctor Capital, Game7, Bas1s, GSR, and GSG Ventures.

Age of Dino (AOD) is the next generation of massively multiplayer online (MMO) strategy games, developed on the Xterio platform. AOD offers an engaging journey set in a captivating metaverse, incorporating elements of SLG (simulation games) and RPG (role-playing games). (Source link)

3. Web2.5 gaming service platform Salvo Games completes $1.5 million angel round financing
Web2.5 gaming service platform Salvo Games completed $1.5 million in angel round financing on September 10, led by a renowned producer from a publicly listed gaming company in Asia, who launched a blockbuster 17 years ago that still has countless fans and enjoys high recognition in the traditional gaming industry.

V. Social

1. Web3 collaborative entertainment protocol Mythic Protocol completes $6.5 million financing, led by Shima Capital and Alpha JWC
Web3 collaborative entertainment protocol Mythic Protocol announced the completion of $6.5 million in seed round financing, led by Shima Capital and Alpha JWC, with participation from Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM, and several angel investors. The funds will be used to develop and launch the initial core product.

It is reported that Mythic Protocol's services can help gamers, investors, and creators around the world collaborate on decentralized blockchains to build entertainment collaborative products. (Source link)

VI. NFT

1. Animoca Brands' NFT project Mocaverse receives $20 million financing commitment, led by CMCC Global
According to official news, Animoca Brands announced a new round of binding financing commitments to accelerate the development of its NFT project Mocaverse. Animoca Brands raised $20 million by issuing new ordinary shares at a price of A$4.50 per share. As part of this financing, the company issued free additional utility token warrants to investors based on a 1:1 dollar ratio. This financing was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Yat Siu (executive chairman and co-founder of Animoca Brands), Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), and institutional investors from Koda Capital. (Source link)

2. NFT sports gaming analytics platform Podium completes €2 million financing, led by Fabric Ventures
NFT sports gaming analytics platform Podium (formerly known as SorareData) has completed €2 million in financing, led by Fabric Ventures, with participation from Sfermion and Seedcamp. Podium stated that its data analysis product SorareData has over 12,000 paid subscribers, and this round of financing will also support the launch of a customized data analysis tool for DraftKings Reignmakers called ReignMetrics. (Source link)

VII. Others

1. Web3 open-source software developer platform ONLY Dust completes $3 million financing, led by Fabric Ventures
Web3 open-source software developer platform ONLY Dust has completed $3 million in financing, led by Fabric Ventures, with participation from Frst, Ergodic (LambdaClass), and Stake Capital.

It is reported that ONLY Dust supports permissionless innovation on an open platform, helping to build "trustless" peer-to-peer networks and token-driven incentive and governance systems. ONLY Dust provides support in areas such as ZK Rollups, privacy, and decentralized finance to 500 developers from 17 countries. Starkware, Starknet Foundation, OP Foundation, Nethermind, Aptos, Zama, and the Ethereum Foundation all use ONLY Dust to coordinate cash and token rewards for contributors. (Source link)