According to Foresight News, there were 29 investment and financing events in the crypto market from February 25 to March 3, including 7 in tools and infrastructure, 7 in DeFi, 3 in asset management, 8 in blockchain games and NFT, and 4 in Web3. The total amount of investment and financing disclosed was approximately US$227 million, of which the amount of financing for many transactions was not disclosed.
This week, there was one financing of over 100 million US dollars, and the hedge fund competition platform Numerai raised 100 million US dollars. There were 6 financings of tens of millions of US dollars, including the decentralized mobile network service provider REALLY completed 18 million US dollars in seed round financing, led by Polychain; the metaverse game platform Avalon completed 13 million US dollars in financing; the decentralized digital asset exchange DigiFT completed 10.5 million US dollars in Pre-A round financing, led by Shanda Group, etc.
In the investment and financing segments, DeFi, NFT and blockchain gaming sectors were hot this week, while Web3 was relatively low.
In terms of institutions, active institutions this week include Foresight Ventures, Shanda Group, Coinbase Ventures and HashKey Capital, which mainly focus on asset management, tools and infrastructure.
Note: Fundraising from investment funds is not included in project financing.
Tools and Infrastructure
Crypto security and wallet provider ZenGo plans to raise $10 million Series A extension at $100 million valuation
ZenGo, a crypto security and wallet provider, plans to raise $10 million in Series A extension financing through convertible bonds at a valuation of $100 million, the same valuation as ZenGo's Series A financing two years ago, and hopes to conduct Series B financing later this year. Previously, ZenGo completed a $20 million Series A financing in April 2021, led by Insight Partners, and participated by crypto funds Distributed Global, Austin Rief Ventures, Benson Oak, Samsung Next, Elron, Collider Ventures, FJ Labs, etc.
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Web3 wallet infrastructure company Portal completes $5.3 million in financing, with Haun Ventures participating
Web3 wallet infrastructure startup Portal has raised $5.3 million in funding, with participation from Slow Ventures, Haun Ventures, a venture capital firm founded by Andreessen Horowitz alumnus Kaite Haun, Acrew Capital, Chapter One, and angel investors William Hockey (co-founder of fintech company Plaid), Henrique Dubagras (co-founder of corporate credit company Brex), and Diogo Monica (founder of institutional crypto platform Anchorage Digital). Portal was co-founded by Raj Parekh, former head of Visa's global crypto product department, and its chief technology officer David Scrobonia worked at Web2 consumer data platform Segment. Brex alum Parsa Attari and Rami Shahtit worked at fintech Blend.
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Web3 gaming and NFT analytics platform Helika completes $4 million in funding
Web3 gaming and NFT analytics platform Helika has completed a $4 million seed round of financing, led by Diagram Ventures, with participation from Sfermion, Sparkle Ventures, Big Brain Holdings, Fenbushi Capital, and Builder Capital. This round of financing will be used for platform development and business expansion. Helika focuses on comprehensive analysis of in-game, on-chain, and social media data, helping brands understand their communities, increase user volume and engagement, and drive overall growth through data.
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Axelar Network Launches Axelar Virtual Machine and Will Launch $5 Million Developer Grant Program Universal interoperability platform Axelar Network launches Axelar Virtual Machine (VM), which allows developers to build DApps once and run them on all chains. Axelar Virtual Machine includes two products: Interchain Amplifier, which can be connected to any chain at will; Interchain Maestro, which automates complex tasks by orchestrating multi-chain dApp management. In addition, Axelar will launch a $5 million developer grant program to advance the use of Axelar Virtual Machine and expand cross-chain.
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DID solution provider Lifeform completes Series A financing at a valuation of US$100 million, led by GeekCartel
Lifeform, a decentralized digital identity solution provider, has completed its Series A financing with a valuation of $100 million. The specific amount has not been disclosed, and the financing share is 5%. GeekCartel led the investment, and KuCoin Labs, DHVC, SevenX Ventures, Foresight Ventures, K24 Ventures and South Korean metaverse platform Another World participated in the investment. Last August, Lifeform completed a multi-million dollar seed round of financing, led by Binance Labs, and the Pre-Seed round was exclusively invested by GeekCartel. The PC version of Lifeform's UE5 virtual human editor was launched in November 2022. The total number of Lifeform Avatars and related costumes cast exceeded 400,000. The Unity mobile version was launched on February 17, 2023. As of now, the total number of Lifeform Cartoon Avatars cast has exceeded 800,000, and the Avatar model will be connected to the incubated blockchain game HALOWORLD in March.
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Communication layer project Redeem completes $2.5 million in financing
Communication layer project Redeem has completed a $2.5 million financing led by Kenetic, with participation from VC3 DAO, CMT Digital and Flyover Capital. The company was founded by Toby Rush, a former Alibaba executive and founder of biometric startup EyeVerify, and aims to support enterprises to send or receive NFTs or Web3 rewards using familiar services such as Whatsapp or iMessage through Redeem's communication layer. Its current models include B2B and B2C.
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Decentralized cloud platform Impossible Cloud completes $7 million in financing
Decentralized cloud platform Impossible Cloud has completed a $7 million seed round of financing, led by HV Capital and 1kx, with participation from Protocol Labs, TS Ventures, and Very Early Ventures. Impossible Cloud's founding team includes Wawrzinek, founder of game studio Goodgame Studios, Kaul, former Airbnb executive, and Daniel Baker, co-founder and CTO of former open source platform D2iQ. Impossible Cloud aims to provide decentralized cloud services for B-side users of Web3.
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Ownera, a securities tokenization infrastructure company, receives investment from U.S. Bancorp
Ownera, a securities tokenization infrastructure company, announced that U.S. Bank participated in its Series A financing. Ownera is developed based on the open source FinP2P protocol. The services provided by Ownera to regulated financial institutions are designed to connect all public chains, consortium chains, and any type of asset tokenization platform on non-chain. Ownera announced the completion of a $20 million Series A financing in September 2022, with investors including JPMorgan Chase.
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Conflux receives $10 million investment from DWF Labs
DWF Labs invested $10 million in Conflux by purchasing CFX tokens from the project team and foundation reserves. This round of financing will be used for technology research and development and expanding the user base. Conflux plans to further expand its ecosystem around Hong Kong’s new Web3 policy through this round of financing.
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DeFi
Options trading platform Greeks.live has reached an agreement with the main investor in the Pre-A round
Greeks.live, a cryptocurrency options trading platform, said on Twitter that it has reached an agreement with major investors in the Pre-A round, including Deribit, BIT, NGC Ventures, Conomico, etc. This round of financing will be used for product development and platform expansion.
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DeFi Strategy Protocol Ammalgam Announces Completion of $750,000 Pre-Seed Financing
DeFi strategy protocol Ammalgam announced the completion of $750,000 in Pre-Seed financing, with Synthetic founder Kain Warwick, 1inch founders Anton, Sergej and Mikhail participating in the investment. Currently, Ammalgam has been experimentally demonstrated on the test network and will soon launch the mainnet. Ammalgam is a DeFi strategy protocol that unlocks more DeFi by merging lending and trading into one protocol, improving capital efficiency and unlocking unlimited strategies for market makers.
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DEX protocol Mangrove DAO receives $7.4 million in Series A funding, led by Cumberland and Greenfield Capital
DEX protocol Mangrove DAO has completed a $7.4 million Series A financing, led by Cumberland and Greenfield Capital, with participation from CMT and gumi Cryptos Capital. Mangrove completed its seed round in July 2021, with investors including Wintermute Ventures, QCP Soteria Node, Monday Capital, Noia Capital, Zeeprime, Atka Capital, and Stake Capital. Mangrove is an order book-based DEX that allows liquidity providers to publish any smart contract as a quote. Liquidity can be shared, borrowed, and lent, and is displayed in Mangrove's order book.
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Decentralized digital asset exchange DigiFT completes $10.5 million Pre-A round of financing, led by Shanda Group
Decentralized digital asset exchange DigiFT has completed a $10.5 million Pre-A round of financing, led by Shanda Group, with participation from HashKey Capital, Hash Global, Xin Enterprise, North Beta Capital, etc. The funds raised will be used to support the growth of the exchange and recruit more new employees. Foresight News previously reported that DigiFT launched a decentralized security token exchange in August last year and completed the first listing of security tokens.
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Liquidity staking platform Ether.Fi completes $5.3 million in financing and will launch on March 4
Ether.Fi, a non-custodial liquidity staking platform, has raised $5.3 million in funding, led by North Island Ventures, Chapter One, and Node Capital, with participation from BitMex founder Arthur Hayes. Ether.Fi allows users to maintain control of their keys while delegating Ethereum validator operations to node operators. The protocol is scheduled to launch during ETHDenver on March 4.
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Decentralized asset management platform Hashnote receives $5 million in funding from Cumberland Labs
Decentralized asset management platform Hashnote has received $5 million in investment support from Web3 incubator Cumberland Labs. Chicago-based Cumberland will become the first market maker on Hashnote. Cumberland Labs is an independent entity based in Singapore and is not a subsidiary of Cumberland, but works closely with companies such as DRW.
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DeFi fixed-rate project Term Labs completes $2.5 million in financing, led by Electric Capital
DeFi fixed-rate project Term Labs has completed a $2.5 million financing led by Electric Capital, with participation from Circle Ventures, MEXC Ventures, Coinbase Ventures, etc. The new funds will be used to build the Term Finance protocol.
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Asset Management
Crypto trading platform Aurox seeks to raise around $1 million at $75 million valuation
Crypto trading platform Aurox is seeking to raise about $1 million at a $75 million valuation on tokenized securities venue tZERO, with a minimum investment of $252 for retail investors. The target date for this round of financing is March 15, and according to documents submitted to the U.S. Securities and Exchange Commission (SEC), the company will set the price per share at $6 and sell 169,000 shares. Foresight News previously reported that Aurox completed a $5 million seed round of financing at a valuation of $25 million in 2022.
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Crypto payment startup FLUUS completes $600,000 Pre-Seed round of financing
Crypto payment startup FLUUS announced the completion of a $600,000 Pre-Seed round of financing, with participation from FHS Capital, Encryptus.io and some angel investors. The funds will be used to further develop FLUUS Pay and FLUUS Auth and launch crypto-fiat payment services. FLUUS said it will soon launch a Beta version and has already reached a partnership with the Dua.com and GD10 Ventures ecosystems.
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Arbitrum-based on-chain asset management platform Factor completes approximately $7.6 million in token financing
Factor, an Arbitrum-based on-chain asset management platform, raised approximately $7.6 million from more than 4,000 wallets in a token issuance from February 20 to February 24. Users will be able to claim their purchased FCTR tokens at 2:00 am Beijing time on February 26, and the tokens will also begin trading on the decentralized exchange Camelot at the same time. Previously, FactorDAO had announced that the initial circulation supply would be reduced by 18%, from the initial 32.5 million to 18 million. Factor does not require users to learn programming knowledge to create customized asset management strategies, and aims to provide middleware infrastructure for the DeFi space by aggregating various markets on its platform.
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Hedge fund competition platform Numerai raises $100 million in funding
Numerai, a hedge fund competition platform, announced that it has raised $100 million in new funds for its artificial intelligence hedge fund. Its founder Richard Craib said that Numerai has been supported by former Renaissance Technologies executive Howard Morgan. After receiving a donation fund and new grants from several managers in the United States, the company now manages nearly $300 million. The company also recently raised $10 million from investors such as Union Square Ventures. Numerai invests according to the wisdom of the crowd by collecting trading ideas from data experts, engineers, scientists, etc., and then they will receive their native cryptocurrency as a reward. Users can submit their investment ideas to the crowdsourcing fund simply by betting with tokens issued by Numerai. Previously, in April 2021, Numerai raised $5 million in financing through the sale of NMR tokens, led by Pantera.
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NFT and blockchain games
NFT certification protocol Wakweli completes $1.1 million seed round of financing, Summit and others participate
NFT certification protocol Wakweli announced the completion of a $1.1 million seed round of financing, with participation from blockchain investment companies Summit, Funfair Ventures, and a group of angel investors. Wakweli uses its "Proof-of-Democracy" consensus algorithm to detect the authenticity of NFTs and issue certificates. Certificate requests on the Wakweli network can be initiated by WAKU holders. According to its roadmap, it is planned to launch the Wakweli Chrome plug-in in the second quarter of this year and the main network in the second quarter.
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NFT trading platform NeoSwap AI completes $2 million Pre-Seed round of financing with a valuation of $15 million
NFT trading platform NeoSwap AI completed a $2 million Pre-Seed round of financing with a valuation of $15 million, led by DACM and AngelHub, with participation from Gossamer Capital, Cavalry Asset Management, Stacks Ventures, Dhuna Ventures and several angel investors. In addition, NeoSwap AI plans to conduct a seed round of financing later this year.
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Metaverse gaming platform Avalon completes $13 million in financing
Metaverse gaming platform Avalon Corp has completed a $13 million financing round, led by Bitkraft Ventures, Hashed, Delphi Digital and Mechanism Capital, with participation from Coinbase Ventures, Yield Guild Games, Merit Circle, Avocado Guild and Morning Star Ventures. Avalon Corp, headquartered in Florida, will build an interoperable digital world through game engines and blockchain technology, including solving problems such as real-time interaction and scalability.
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GameFi social interaction platform BEBO LAB completes $2.3 million in financing
GameFi social interaction platform BEBO LAB announced the completion of a $2.3 million financing round with participation from Hash9 Fund and ACF Fund. This round of financing will be used to launch the BEBO NFT project and develop the BEBO Social+GameFi platform. BEBO NFT Mint is expected to be open for public minting on March 17, and the total supply and minting price are to be determined. BEBO LAB aims to build BEBO social and GameFi services, with the community social token BCoin. The core team members are from Tencent, Apple and Riot Inc.
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NEAR Ecosystem NFT Marketplace Few and Far Completes $10.5 Million in Financing
NEAR ecosystem NFT market Few and Far has completed a $10.5 million financing, led by Pantera Capital, with participation from Cypher Capital, Huobi Ventures, Hypersphere, Metaweb, Mantis Partners, K5 Global, etc. This round of financing will be used to expand the platform, improve user experience and increase the number of Web3 developers.
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NFT financial protocol Insrt completes $2.2 million in financing, led by Hashkey Capital and Infinite Capital
Insrt Labs, the developer of the NFT financial protocol Insrt Finance, has completed a $2.2 million Pre-Seed round of financing, led by Hashkey Capital and Infinite Capital, with participation from Sky9 Capital, Hamzah Khan, head of DeFi at Polygon, and others. Lauris Zvirbulis, co-founder and CEO of Insrt Labs, said the funding was achieved through a simple agreement for future tokens (SAFT). Insrt Finance is currently built on Ethereum and plans to support other blockchains in the future. Insrt plans to launch omnichain ShardVaults in the next two months and hopes to work with Polygon. The Insrt token is expected to be launched in the third quarter of this year.
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Web3 shooting game Lowlife Forms completes $3 million Pre-Peed round of financing
Game production company VitalXP announced that its Web3 shooting game Lowlife Forms has completed a $3 million Pre-Peed round of financing, led by Streamlined Ventures and Marbruck Investments. The game's assets will be minted as NFTs and stored on the Solana blockchain. Lowlife Forms plans to launch the first batch of playable characters on Magic Eden on March 9, each priced at 4.4 SOL ($100), and will subsequently launch more collectibles every quarter, and then plans to go online on Ethereum and other blockchains.
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Metaverse Project Platform Honio's Parent Company Mapxus Completes $5 Million Series B Financing
Mapxus, the parent company of the Metaverse project platform Honio, has completed a $5 million Series B financing round, led by Kawasaki Heavy Industries. Mapxus is a Hong Kong-based indoor map system R&D company that has partnered with NOIZChain to launch the GameFi Metaverse platform "Honio" based on indoor positioning. Honio aims to connect the virtual world and the physical world through a mobile application, rewarding users for the time they spend in physical stores. It is expected to be launched in Japan by 2023 and in other Southeast Asian markets by 2024.
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Web3
Web3 content creation platform REPUBLIK completes $3.7 million seed round of financing
Web3 content creation platform REPUBLIK has completed a $3.7 million seed round of financing, with a valuation of $75 million. The participating institutions are unknown. REPUBLIK allows content creators to connect with their audiences on the platform and uses built-in smart contracts to handle the monetization process, enabling content creators to create, connect and get rewards. REPUBLIK was launched in November 2022, and currently has more than 85,000 registered users in the alpha version.
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Decentralized mobile network service provider REALLY completes $18 million seed round of financing, led by Polychain
Decentralized mobile network service provider REALLY announced the completion of an $18 million seed round of financing, led by Polychain and participated by Floodgate founding partner Mike Maples Jr. and others. REALLY also launched a mobile phone plan comparison tool that allows individuals to compare 56 operators and 379 plans and switch to the service that suits them. Founded in 2022 by Adam Lyons, founder and CEO of the US insurance comparison website TheZebra.com, REALLY will create a blockchain-driven telecommunications community and focus on 5G network privacy, accessibility, and true anonymity.
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Arbitrum Ecosystem Health App Gosleep Completes $2 Million in Financing, Led by Foresight Ventures
Gosleep, a healthy lifestyle app based on Arbitrum, announced the completion of a $2 million financing round, led by Foresight Ventures, with participation from CCC Capital, Amber Group, SevenX Ventures, KuCoin Ventures and Gate Labs. Gosleep aims to inspire players to pursue a healthy lifestyle and help them gradually develop healthy sleeping habits through personalized sleep recommendations based on their sleep patterns.
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Web3 fashion startup DE Star completes $700,000 in seed round financing
Web3 fashion startup DE Star has raised $700,000 in seed funding to bridge the gap between customers and brands by leveraging Web3 technology. DE Star is about to airdrop NFTs, giving holders access to future airdrops, airdrop benefits, voting rights, and phygital exclusive events.
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Inflection AI plans to raise up to $675 million, according to people familiar with the matter
According to the Financial Times, citing people familiar with the matter, Inflection AI, an AI startup founded by DeepMind co-founder Mustafa Suleyman and LinkedIn founder Reid Hoffman, plans to raise up to $675 million. People familiar with the matter said that Inflection AI has not yet released a product and is currently discussing a financing scale of two to three times the $225 million in its first round of financing last year. Inflection plans to develop an AI personal assistant and has hired AI experts from several competitors including OpenAI, DeepMind and Google.
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other
Provenance Blockchain Foundation Launches $50 Million Developer Grant Program
The Provenance Blockchain Foundation, a blockchain technology platform, announced the launch of a $50 million grant program for developers, which will award $50 million in HASH (HASH is the native token on the Provenance blockchain) to support developers in building core services and experiences. The Provenance Blockchain Foundation evaluates applicants based on factors including security, compliance, wallets, identity, developer tools, and the ability to contribute to new financial asset use cases. In addition, all funded projects must undergo KYC screening.
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Bain Capital Ventures Raises $1.9 Billion Across Two Funds
Bain Capital Ventures announced that it has raised a total of $1.9 billion in excess across two funds to support technology founders from seed to development and beyond. Bain Capital Ventures will use the funds to discover and invest in the most groundbreaking companies in the fintech, infrastructure, applications and business sectors. Bain Capital Ventures launched a $560 million fund last year specifically for cryptocurrency-related companies. BlocBlockchain Founders Fund announced that its BFF II fund has completed $75 million in fundraising and has closed fundraising, with investors including Polygon, Ripple, Octava, NEO Global Capital (NGC), Appworks, GSR, LD Capital, Metavest Capital, and Sebastien Borget, COO of The Sandbox. The BFF II fund aims to support Web3 and blockchain startups with high growth potential at the Pre-Seed and Seed rounds. Blockchain Founders Fund announced the First Close of the BFF II fund in January 2022 (the end of the phased fundraising, but the amount of funds raised may not have reached the hard cap). Kchain Founders Fund's BFF II Fund Completes $75 Million Fundraising
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