Last week, there were a total of 14 public financing events in the cryptocurrency market, with a cumulative financing amount of approximately 62.95 million USD | Investment and Financing Weekly Report

Organized by: Cookies, RootData

According to incomplete statistics from RootData, during the period from October 9 to October 15, 2023, there were a total of 14 publicly disclosed financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $62.95 million.

From the perspective of track distribution, the projects that received financing were mainly concentrated in the infrastructure track, with popular projects including Layer 1 blockchain Initia receiving investment from Binance Labs, and crypto trading and lending platform Membrane Labs completing a $20 million Series A financing round with participation from Jump Crypto and others. Data analysis platform Parsec completed a $4 million financing round, led by Galaxy Digital.

In addition, there were 3 merger and acquisition events last week. TRM Labs acquired the crypto scam reporting platform Bitcoinabuse, ConsenSys acquired the blockchain development company Special Mechanisms Group, and Web3Auth acquired the global payment solution Poko aimed at Web3 games and creators.

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

I. Infrastructure

1. Bitcoin infrastructure platform OrdinalsBot completes $1 million seed round financing, with participation from Lightning Ventures and others
The infrastructure platform OrdinalsBot, focused on Bitcoin Ordinals, has completed a $1 million seed round financing, with investors including Kestrel 0X1, Lightning Ventures, Bitcoin Magazine Ecosystem Fund, Bitcoin Frontier Fund, Angsana Investments, Deep Ventures, and individual investors such as Sebastien Borget, Howard Morgan, Micah Spruill, Ivan Brightly, and Dillon Healy.

Reportedly, OrdinalsBot has launched an SDK aimed at helping developers integrate Ordinals functionality into their projects. (Source link)

2. Privacy tech startup Beldex receives $3 million investment from Web3 market maker Enflux
Privacy tech startup Beldex has received a $3 million investment from Web3 market maker Enflux, and the two parties have established a partnership.

Enflux will provide Beldex with strategic advice and support needed for DApp development and will integrate EVM into the Beldex chain for network expansion. It is reported that the Beldex ecosystem includes private messaging application BChat, decentralized virtual private network (VPN) BelNet, Web3 browser Beldex, and cross-chain privacy protocol Beldex.

According to data from crypto platform RootData, in February of this year, Beldex completed a $25 million financing round, with market maker DWF Labs investing and establishing a partnership with it. (Source link)

3. Wallet provider Account Labs completes $7.7 million financing, led by Amber Group and others
Singapore wallet provider Account Labs announced the completion of $7.7 million financing, led by Amber Group, MixMarvel DAO Ventures, and Qiming Venture Partners.

Additionally, Account Labs announced the launch of UniPass Wallet, which improves user experience through account abstraction. The UniPass wallet is built on Polygon and is initially available for Android devices, now accessible to all users globally without KYC.

Account Labs was formed in 2023 through the merger of hardware wallet developer Keystone and software wallet manufacturer UniPass. (Source link)

4. Layer 1 blockchain Initia announces investment from Binance Labs
Developers of the Layer 1 network Initia announced today that they have received pre-seed investment from Binance Labs, with specific financing amounts and more details yet to be disclosed. It is reported that Initia is developed using the Cosmos software development kit (SDK), but it will utilize a computing framework called MoveVM based on the Move smart contract language. (Source link)

II. CeFi

1. Web3 and AI equity financing platform CrossFund completes $1.5 million financing at a $47 million valuation, with participation from BXB Capital and others
Web3 and AI equity financing platform CrossFund announced that it has completed a new round of financing of $1.5 million at a valuation of $47 million, with participation from BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and several family offices from the Middle East and North Africa (MENA) and Asia. This is the fourth round of financing the company has completed in the past two years.

Reportedly, the CrossFund equity financing platform has innovatively integrated AI and Web3 technology during the review and fundraising process. So far, approximately 80 projects have successfully raised over $40 million on the platform, attracting 15,000 qualified investors to participate. (Source link)

2. Tokenized environmental asset exchange Neutral completes $3.2 million financing, led by North Island Ventures
Tokenized environmental asset exchange Neutral announced the completion of $3.2 million financing, led by North Island Ventures, with participation from Redalpine, Digital Money Group (DCG), Cerulean Ventures, Factor Capital, Very Early Ventures, and Rarestone Capital.

Neutral plans to use the initial funds to launch a regulated exchange in Europe and aims to expand to other jurisdictions in North America and Asia. Neutral combines tokenized carbon credits, renewable energy credits, and carbon forwards with specialized market infrastructure to enhance the efficiency, transparency, and trust of these markets. (Source link)

III. DeFi

1. Crypto trading and lending platform Membrane Labs completes $20 million Series A financing, with participation from Jump Crypto and others
Crypto trading and lending platform Membrane Labs has completed a $20 million Series A financing round, with participation from Brevan Howard Digital, Point72 Ventures, Jane Street, Flow Traders, QCP Capital, Two Sigma Ventures, Electric Capital, Jump Crypto, QCP Capital, GSR Markets, Belvedere Trading, and Framework Ventures.

The new funds will be used to help establish the mature trading infrastructure needed in the cryptocurrency space to avoid further disasters. It initially established a settlement and clearing engine that allows institutions to choose where and how to custody funds (whether with a custodian or multi-party computation (MPC) wallet), and then decide through the front end where and how to execute trades. (Source link)

2. RWA lending platform Untangled completes $13.5 million financing, with Fasanara Capital as the main investor
Tokenized real-world asset (RWA) lending platform Untangled Finance has completed $13.5 million financing and launched on the Celo network. The main investor in this financing is London-based asset management company Fasanara Capital, which has also opened two credit pools on the platform to handle off-chain business and underwrite loans. Untangled also announced plans to expand to Ethereum and Polygon through the Chainlink cross-chain interoperability protocol.

It is reported that Untangled aims to bring traditional private credit markets onto the blockchain through tokenization, focusing on fintech (such as invoice financing and salary advance-based consumer loans) as well as "green asset" loans. The platform provides infrastructure to host blockchain-based credit pools, where investors deposit funds to lend and earn returns. Depositors receive ERC-20 tokens representing their positions. (Source link)

IV. Tools & Data

1. Data analysis platform Parsec completes $4 million financing, led by Galaxy Digital
Crypto on-chain data analysis platform Parsec announced the completion of a new round of $4 million financing, led by Galaxy Digital, with participation from Uniswap Labs Ventures, Robot Ventures, CMT Digital, and others.

Reportedly, this is a follow-up financing round to a seed round that Parsec concluded earlier this year, with the structure and valuation of this round yet to be disclosed. According to crypto data platform RootData, Parsec announced a $1.25 million financing round in January 2020, led by Polychain, with participation from Robot Ventures and other institutions.

V. Gaming

1. Web3 fantasy sports company Game of Silks completes $5 million financing
Web3 fantasy sports company Game of Silks has completed $5 million financing, bringing its total financing amount to over $10 million, with investors not disclosed.

Reportedly, Game of Silks is an NFT-driven fantasy horse racing startup that has issued NFTs related to thoroughbred horses, allowing owners to earn rewards based on the performance of the corresponding horse in the real world. The company was founded in June 2021 and collaborates with organizations such as the New York Racing Association, Belmont Park, the Jockey Club, and Americas Best Racing under Fox Sports.

Data from OpenSea shows that Game of Silks has issued over 7,000 "Silks Genesis Avatars" NFTs, with a current floor price of 0.088 ETH ($125). (Source link)

VI. Others

1. Web3 content creation platform RepubliK's seed round financing has increased to $6 million
Web3 content creation platform RepubliK announced the completion of a $6 million seed round financing at a valuation of $75 million, with participation from OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management.

REPUBLIK allows content creators to connect with their audience on the platform and utilizes built-in smart contracts to handle the monetization process, enabling content creators to create, connect, and be rewarded. According to RootData, in March of this year, RepubliK completed a $3.7 million seed round financing. (Source link)

2. Fake user identification provider Verisoul announces completion of $3.25 million financing, with participation from HashKey Capital and others
Fake user identification provider Verisoul announced the completion of $3.25 million financing, aimed at identifying fake users and addressing threats from AI, bots, and fraud for businesses. Investors in this financing round include BITKRAFT Ventures, King River Capital, Third Prime, HashKey Capital, and angel investor AcuityMD CEO Mike Monovoukas. (Source link)

3. Entertainment technology company KINO completes over $2 million pre-seed financing, with participation from Sequoia, Slow Ventures, NEAR, and others
Entertainment technology company KINO has completed over $2 million in pre-seed financing, with participation from Sequoia Capital, Slow Ventures, Metaweb Ventures, Genius Ventures, NEAR, and Blockchain Founders Fund.

KINO aims to introduce a community-based economic model into the entertainment industry, providing film and television creators with technical tools to attract fans and interact with them. (Source link)