Crypto startups continue to raise funds despite tight liquidity and adverse macroeconomic conditions. September saw major developments in the space, such as Farmville co-founder Amitt Mahajan raising $33 million to create Web3 games and Animoca Brands revealing $20 million in funding to fuel the development of its Mocaverse platform.

In another related development, Blockchain Capital closed two new funds in September, with $580 million set to go to crypto gaming and decentralized finance projects in the coming months. Cointelegraph’s venture capital roundup showcases the latest projects to raise funds despite the market’s prolonged downtrend.

Bubblemaps raises $3.2M for data visualization

Data visualization startup Bubblemaps has raised €3 million ($3.2 million) in a seed round led by INCE Capital. According to the startup, the funds will be used to grow its team, recruit more developers, and expand its social media marketing initiatives. Stake Capital, Momentum 6, Lbank, V3ntures, Ledger’s Nicolas Bacca, Hacken’s Dyma Budorin, and French entrepreneur Owen ‘Hasheur’ Simonin also contributed to the funding. The company has an ambitious goal to become the Google Analytics of Web3. Partnerships have reportedly been established with Arbitrum, Polygon, Avalanche, and BNB Chain.

We are excited to share the closing of two new funds - our sixth early-stage fund and first opportunity fund. With a total investment of $580 million, they help strengthen our commitment to leading the global transition to decentralized, blockchain-based systems.↓https://t.co/Vr2uYnGlF7

— Blockchain Capital (@blockchaincap) September 18, 2023

Blockchain analysis firm CoinScan raises $6.3 million

Crypto analytics platform CoinScan raised $6.3 million in September to provide security checks, holder and airdrop analysis, and social sentiment analysis to the entire crypto community. CoinScan is the first product from CryptoHub, a Web3 company focused on the blockchain economy and backed by DraftKings’ largest individual shareholder and billionaire Shalom MecKenzie, as well as investors in Playtech and iAngels. “Cryptocurrency, like sports betting, should provide people with the tools and data to make their own assessments of risk and reward,” MecKenzie said in a statement, claiming that CoinScan will provide data pulled from multiple sources to provide chart insights.

Shinkar Protocol receives $4.1 million to enhance privacy in DeFi transactions

Privacy protocol Hincal has raised $4.1 million in pre-seed funding led by Draper Associates. According to a statement, the protocol aims to provide an advanced privacy layer where transactions and assets of various decentralized finance (DeFi) protocols are shielded from public visibility. Psalion Hedge Fund, NGC Ventures, NoLimit Holdings, Draper Dragon, Peer VC, Orange DAO, Web3.com Ventures, and others also participated in the round. Draper Associates has invested in a range of technology companies, including Hotmail, Skype, Baidu, Tesla, SpaceX, Twitch, Cruise, Carta, Webflow, Robinhood, and Coinbase.

Mythic Protocol raises $6.5M seed round for collaborative entertainment

Mythic Protocol has completed a $6.5 million seed round led by Shima Capital’s Yida Gao, along with investors including Alpha JWC, Saison Capital, GDP Ventures, and Planetarium Labs. The team behind the project is working on a collaborative entertainment ecosystem that leverages a gaming-first strategy to acquire, retain, and expand users. The funds will be deployed in the coming months to develop and launch the initial core product, with a focus on gamers, creators, and investors. “Since 2009, the founding team has launched over 250 games from one of Southeast Asia’s largest gaming studios, and we have no doubt that they will bring their track record of success into the next gaming cycle,” said Yida Gao, founder of Shima Capital, in a statement.

Before You Go: ConsenSys Launches Pre-Accelerator Program for Web3 Founders

Technology company ConsenSys has announced the launch of its pre-accelerator program, the ConsenSys Fellowship, to support early-stage Web3 startups. The goal of the fellowship is to help early-stage startups bridge the gap between an idea with potential and a functional business, product, or tool. The 12-week program will provide mentoring workshops, weekly classes, coaching, and access to ConsenSys' network to accelerate up to 15 startups. Fellowship teams will be eligible for follow-on investments from the $1.5 million fund.

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