According to Foresight News, there were 27 investment and financing events in the crypto market from November 26 to December 2, including 8 in tools and infrastructure, 3 in DeFi, 4 in asset management, 5 in blockchain games and NFT, and 7 in Web3. The total amount of investment and financing disclosed was approximately US$216 million.
This week, there were 6 financings of tens of millions of dollars, including the blockchain insurance technology company Igloo's $46 million Series B financing, with Cathay Innovation and others participating; the digital asset fraud detection platform FrankieOne completed approximately $30 million in financing, led by AirTree Ventures and Greycroft; the Web3 developer platform Fleek completed a $25 million Series A financing, led by Polychain Capital; the blockchain creator marketing and collaboration platform Pearpop completed an $18 million Series A financing, etc.
In the investment and financing segments, the popularity of each track has rebounded this week, with Web3, tools and infrastructure being relatively active.
In terms of institutions, active institutions this week include GSR, Binance Labs, Kraken Ventures, Shima Capital, Blockchain Capital and Orange DAOs, which mainly focus on Web3, tools and infrastructure.
Note: Fundraising from investment funds is not included in project financing.
Tools and Infrastructure
Cybersecurity startup Cyvers completes $8 million seed round led by Elron Ventures
Cyvers, an Israel-based cybersecurity startup, has completed an $8 million seed round of financing, led by Elron Ventures, with participation from Crescendo Venture Partners, Differential Ventures, and HDI. Cyvers provides plug-and-play security solutions for a range of Web3 companies by leveraging domain expertise and geometric machine learning technology to achieve real-time detection of security issues. The platform's customers include Bit2C, Solidus Capital, and CoinMama.
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DAO infrastructure XDao completes $2.3 million in financing
XDao, a Singapore-based DAO infrastructure company, has raised $2.3 million in seed funding at a $50 million valuation from investors including Panony, DWF Labs, Telos Foundation, and Grizzly Capital. The funding was raised through a token sale, which will be locked up for 12 months and then released linearly over 36 months. The funding will be used to expand the team and drive product development. XDao provides users with tools to create multi-chain DAOs, deposit assets, and interact with DeFi.
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OAK Network and SubQuery receive investment from EMURGO Ventures
EMURGO Ventures, a subsidiary of EMURGO, the official commercial department of Cardano, announced an investment in OAK Network, a DeFi and automated payment platform in the Polkadot ecosystem, and SubQuery, a data indexing tool. EMURGO Ventures said that the solutions provided by OAK Network can improve the overall operational efficiency of the Cardano blockchain through its interoperability automation infrastructure, while SubQuery can provide APIs for Cardano ecosystem DeFi, NFT, wallets, etc. to support developers.
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Web3 security company Cypherock completes $1 million in financing, Consensys Mesh and others participate
Web3 security company Cypherock has completed a $1 million financing round, with participation from Consensys Mesh, Infinite Capital, Gnosis, OrangeDAO, and angel investors Stefan George (Gnosis), Sandeep Nailwal (Polygon), Mahin Gupta (Zebpay & Liminal), Prasanna Sankar (Rippling), and Furqan Rydhan (Thirdweb & F Inc). Founded in 2019, Cypherock is currently developing a mnemonic-free hardware wallet "X1", which aims to enable users to achieve wallet autonomy and control cryptocurrencies and personal data as safely as saving in a bank.
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AR startup Mirage raises $1.4 million in funding
Mirage, an AR startup that combines NFT technology, announced the completion of a $1.4 million Pre-Seed round of financing, led by Aglaé Ventures and Delphi Digital, with participation from Palm Tree Crew, Cozomo de Medici, G Money, Will Price, Rahilla Zafar, Cooper Turley, Jon Itzler and Chase Chapman. This round of financing will be used to recruit technical talents for further development.
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Finery Markets, an institutional cryptocurrency trading infrastructure, raises $5.5 million
Finery Markets, an institutional cryptocurrency trading infrastructure, has completed a $5.5 million seed round of financing, led by G1 Ventures, gumi Cryptos and Shima Capital, with participation from Communitas Capital, DV Chain, GravityX, Unlimint, Daedalus, oneAlpha, Floating Point Group, etc. Founded in 2019, Finery Markets allows institutional investors to trade digital assets through the platform, and its pre- and post-trade capabilities provide customers with price intelligence, full transaction transparency, settlement flexibility, market and counterparty risk control, and reporting tools.
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Layer2 cross-Rollup bridge Orbiter Finance completed its first round of financing, Vitalik donated 16 ETH to it
Layer2 cross-Rollup bridge Orbiter Finance announced that it has completed its first round of financing, with Tiger Global, Matrixport, A&T Capital, Starkware, Cobo Ventures, imToken, Mask Network, Zonff Partners and others participating in the investment. The amount of financing has not been disclosed. Vitalik Buterin has donated 16 ETH to the project. Orbiter said that it currently supports 14 networks and 4 tokens, and Orbiter Maker will be released on the test network soon. Orbiter will enter the second phase next, investing more energy in the design of algorithm applications and cross-chain expansion solutions, and is committed to building a ZK aggregation middle layer.
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Blockchain insurance technology company Igloo completes $46 million Series B financing, Cathay Innovation and others participate
Blockchain insurance technology startup Igloo has received an additional investment of US$27 million, completing a total of US$46 million in Series B financing. InsuResilience Investment Fund II under German development bank KfW, WAM, Finnfund, La Maison, and Cathay Innovation participated in the investment. The funds will be used for recruitment, infrastructure and M&A opportunities. Igloo was founded in 2016. Its insurance technology products based on blockchain smart contracts can automatically calculate claims expenses and are currently being promoted and applied in the Vietnamese market.
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DeFi
DeFi protocol Ambit Finance receives $4.5 million investment from Binance Labs
Binance Labs announced a $4.5 million strategic investment in DeFi protocol Ambit Finance. Ambit Finance is a DeFi lending and yield protocol based on the Anchor Protocol. In the future, Ambit Finance will provide deposit yields for BUSD and will work with Binance Labs to launch new DeFi applications, increase the utility of BUSD and other assets on the BNB Chain, and collaborate with projects outside the BNB Chain ecosystem.
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Option Agreement Lyra Completes $3 Million Strategic Round of Financing, with Framework Ventures and GSR Participating
The options protocol Lyra announced the completion of a $3 million strategic round of financing, with Framework Ventures and GSR participating. Lyra said that in August 2021, Lyra was launched as one of the first protocols based on Optimism. Since its launch, Lyra's decentralized options trading protocol has exceeded $850 million in notional options trading volume, facilitated more than 15,000 addresses and a total of 90,000 transactions, and supported more than 6 protocols that chose to integrate its liquidity.
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Institutional staking platform Kiln completes €17 million in financing
Institutional staking platform Kiln announced that it had completed 17 million euros (about 17.6 million U.S. dollars) in equity financing in October, led by Blockdaemon and Illuminate Financial, and participated by ConsenSys, GSR Markets, LeadBlock Partners, Sparkle Ventures, Alven, Blue Yard Capital and Kraken's venture capital arm. Kiln said that its advantage is that in addition to being able to use its own validation nodes, it will also support validation nodes established by other entities.
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Asset Management
NFT perpetual contract trading platform nftperp completes $1.7 million seed round of financing
NFT perpetual contract trading platform nftperp announced that it has completed a $1.7 million seed round of financing at a valuation of $17 million. Dialectic, Maven 11, Flow Ventures, DCV Capital, Gagra Ventures, AscendEX Ventures, Perridon Ventures, Caballeros Capital, Cogitent Ventures, Nothing Research, Apollo Capital, Tykhe Block Ventures, OP Crypto and others participated in the investment. nftperp is an NFT perpetual contract trading platform that supports users to go long and short NFT transactions. The Beta test network was launched on November 25.
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Cameroonian fintech company Ejara completes $8 million financing, led by Anthemis and Dragonfly
Cameroonian fintech company Ejara has completed an $8 million Series A financing round, led by Anthemis and Dragonfly, with participation from Mercy Corps Ventures, CoinShares Ventures, Lateral Capital, Circle Ventures, Moonstake, Emurgo, HashKey and BPI France, and individual investors including Jason Yanowitz, co-founder of Blockworks. Ejara provides users in French-speaking African countries with the ability to buy, sell, exchange and store their cryptocurrencies using non-custodial wallets. In addition to cryptocurrencies, it is also tokenizing government bonds and issuing savings products based on them.
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FrankieOne, a digital asset fraud detection platform, has raised approximately $30 million in funding, led by AirTree Ventures and Greycroft
FrankieOne, a digital asset fraud detection and identity verification platform, has received an additional investment of A$23 million (approximately US$15.4 million), bringing its total Series A financing to A$45 million (approximately US$30 million). AirTree Ventures and Greycroft co-led the investment, with participation from Kraken Ventures, Binance Labs, and existing investors Apex Capital, Reinventure, and Tidal Ventures. The funds will be used to expand scale and customer base. FrankieOne connects banks, fintech, cryptocurrency, and gaming companies with hundreds of data sources, and works with 170 financial institutions around the world, providing an API to access identity and fraud prevention providers around the world. The company said the platform's revenue has quadrupled in the past 12 months.
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Fintech risk assessment firm Strategic Risk Associates completes $12 million Series B funding round, focusing on risks associated with digital assets
Fintech risk assessment company Strategic Risk Associates (SRA) announced the completion of a $12 million Series B financing round, led by EJF Silvergate Ventures, JAM FINTOP and FINTOP Capital, with participation from Atlantic Union Bankshares Corporation and other existing investors. Strategic Risk Associates said it has reached cooperation with hundreds of financial institutions in the United States, focusing on (crypto) digital asset-related risks, helping banks and other institutions measure their fintech risk maturity, and providing quarterly risk assessments and other services to support fintech and digital asset risk management.
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NFT and blockchain games
Web3 gaming startup Glip raises $2.5 million in funding led by Hashed Emergent
Indian Web3 gaming startup Glip has completed a $2.5 million Pre-A round of financing, led by Hashed Emergent, with participation from Beenext and Prime Venture Partners. Glip will use the funds to expand its 10-person team, launch new product features, and grow its community globally. As of now, Glip's total financing amount has reached $6 million. Glip provides a live broadcast platform with more than 2 million active users, and its Android app has been downloaded more than 7 million times in India, Southeast Asia, and Brazil. It provides new Web3 games and tutorials for gamers, as well as tournaments and missions.
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Web3 game development company Midnight completes $7.5 million in financing
Web3 game development company Midnight has completed a $7.5 million financing round, led by Shima Capital, with participation from Forte, SnackClub, Overwolf, Woodstock Fund, FJ Labs, Bixin Ventures, and individual investors including the founder of Illuvium. Midnight's team members include former Disney Mobile General Manager Chris Heatherly (Chief Product Officer) and Star Trek: Fleet Command and Game of War: Fire Age designer Geoffrey Hunt (Head of Game Design). Midnight is currently developing games including the MMO game Legion and the fighting game Next Protectors.
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NFT lending protocol UnUniFi Protocol completes $1.5 million seed round of financing, led by gumi Cryptos Capital
UnUniFi Protocol, a Cosmos-based NFT lending protocol, has completed a $1.5 million seed round of financing, led by gumi Cryptos Capital, with participation from Coincheck, Hyperithm, MZ Web3fund, Arriba Studio and gumi group. The funds raised will be used for continued development and further scalability. In addition, in the fourth quarter, it plans to launch NFTFi services with NFT collateral capabilities, and release an inter-chain yield aggregator for automatic DeFi returns, while enabling the Cosmos IBC function.
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Web3 role-playing game Swords of Blood raises $1.6 million
Web3 role-playing game Swords of Blood has raised $1.6 million in funding from Fundamental Labs, Gate.io, Master Ventures, Solana Ventures, NFTb, EnjinStarter, etc. Swords of Blood is the Web3 expansion of the previously successful Web2 game Blade Bound, which has been downloaded over 4 million times on the App Store and Google Play. Swords of Blood will be released on Polygon.
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NFT reward game company Burn Ghost completes $3.1 million in financing, led by Drive by DraftKings and others
Burn Ghost, a casual game startup that rewards players with NFT prizes, has completed a $3.1 million financing round, led by Drive by DraftKings and game-centric fund Bitkraft Ventures, with participation from Pillar VC. Burn Ghost will be open to the public in the first quarter of 2023. Burn Ghost CEO and co-founder Steve Curran said that Burn Ghost will not develop complex games built around NFTs, but will focus on simple, easy-to-play casual games with skill components.
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Web3
Web3 sci-fi brand Wanderers completes $2 million seed round of financing, led by Animoca Brands and GameFi Ventures
Web3 sci-fi brand Wanderers has completed a $2 million seed round of financing, led by Animoca Brands and GameFi Ventures. The funds raised will be used to develop a video game in collaboration with Blowfish Studios, which is expected to be released in 2024. Animoca Brands and GameFi Ventures will serve as its token economic advisors.
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Web3 wearable technology startup Spatial Labs completes $4 million in financing, Marcy Ventures participates
Web3 wearable technology startup Spatial Labs has completed a $4 million pre-seed round of financing, with Jay-Z's Marcy Venture participating in the investment. The company is currently conducting a Series A financing.
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The non-profit organization Web3 Working Group has completed a $2 million financing round, with Arweave and others participating
The Web3 Working Group, a non-profit organization for crypto and DeFi infrastructure education, announced the completion of a $2 million financing round, with participation from Arweave, The Graph, Livepeer, and Akash. The organization's founders, Amy James and Devon James, were the founders of the open source index and file library project Open Index Protocol. The Web3 Working Group plans to launch a series of introductory educational videos to help more people understand the basics of cryptographic concepts, including public key cryptography and blockchain technology, aiming to fill the gap in industry knowledge through educational content.
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Web3 developer platform Fleek completes $25 million Series A financing, led by Polychain Capital
Web3 developer platform Fleek has completed a $25 million Series A financing round, led by Polychain Capital, with participation from Coinbase Ventures, Digital Currency Group, Protocol Labs, Arweave, North Island Ventures, Distributed Global, The LAO and Argonautic Ventures. Fleek aims to build an interface and protocol layer that allows anyone to access the base layer of Web3 services such as storage, hosting and billing, with an initial focus on the content delivery market.
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DAO management tool Catapult completes $5 million financing
DAO management tool Catapult has raised $5 million in funding, led by Blockchain Capital, with participation from Eden Block, Orange DAO and Reverie, and individual investors including Stani Kulechov (Aave) and Ryan Berken (Teller). Catapult helps DAO members coordinate and communicate better by establishing DAO member profile information.
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Web3 reward information aggregation solution Daylight completes $3 million financing
Daylight, a Web3 reward information aggregation solution, has raised $3 million in seed funding, led by Framework Ventures and Chapter One, with participation from 6th Man Ventures, Spice Capital, and OpenSea, and individual investors including Will Papper (Syndicate) and Alex Zhang (Friends With Benefits). Daylight completed this round of funding in May. Its solution allows users to learn about reward information (such as airdrops) from various Web3 projects without having to keep up with the progress of each project.
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Pearpop, a blockchain creator marketing and collaboration platform, completes $18 million in Series A funding
Pearpop, a blockchain creator marketing and collaboration platform, announced the completion of a $18 million Series A financing round, with participation from Hollywood star Ashton Kutcher, Guy Oseary of Sound Ventures, Seven Seven Six, Blockchange Ventures, Avalanche's Blizzard Fund and C2 Ventures. So far, the company's valuation has reached $300 million, with a total financing amount of more than $34 million. Pearpop's two new products are brand interaction service Ovation and blockchain cross-platform engagement service Passport, the latter of which can help brands better understand creators' influence and audience engagement.
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other
Daesung Private Equity, a venture capital firm affiliated with South Korean chaebol Daesung Group, has established a $85 million Metaverse Fund
Daesung Private Equity, a venture capital company affiliated with the South Korean chaebol Daesung Group, has established a 110 billion won (about 85 million U.S. dollars) Metaverse Fund, of which Korea Venture Investment Corp (KVIC) invested 60 billion won, and other LPs include the Industrial and Commercial Bank of China (IBK), Shinhan Capital and several companies under Daesung Group. Daesung Private Equity plans to make large investments in venture capital companies in the field of Metaverse that will use technologies such as artificial intelligence, XR, blockchain and digital twins in the future through this investment fund.
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645 Ventures Closes $347 Million Across Two Funds
Venture capital firm 645 Ventures has raised a total of $347 million for its fourth fund, Fund IV, and the firm’s first opportunity fund, Select I, from investors including endowments, family offices, and high-net-worth individuals. 645 Ventures focuses on investing in vertical and horizontal SaaS, infrastructure software, consumer categories such as online marketplaces, as well as Crypto and Web3.
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Animoca Brands Co-Founder: Plans to launch $2 billion fund Animoca Capital to invest in metaverse business
Animoca Brands co-founder and CEO Yat Siu said in an interview that the company plans to launch a fund of up to $2 billion, Animoca Capital, to invest in metaverse businesses, and expects to make its first investment next year. The fund is targeting $1 billion to $2 billion, but Yat Siu said it has not yet raised the money. Yat Siu and his fund manager partners will oversee the account.
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