Compilation: Jinse Finance
The Largest Financing Round This Week
Avalanche (Ava Labs)
Avalanche (Ava Labs) successfully raised $250 million in a financing round from investors including Galaxy Digital, Dragonfly Capital, ParaFi Capital*, SkyBridge Capital, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital (formerly Republic Labs), Morgan Creek Capital, FinTech Collective, CMCC Global, Superscrypt, Cadenza, Chorus One and Tane.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments within the same ecosystem.
Seed and Pre-seed Financing Situation
Uranium Digital raised $1.7 million in a Pre-seed round from investors including Portal Ventures*, Framework Ventures, Karatage, Santiago R. Santos, Jason Yanowitz, Marc Weinstein, Alex Svanevik.
Uranium Digital is a startup focused on the uranium market, aiming to tokenize it. The platform represents uranium ore (or yellowcake) with blockchain tokens, enabling seamless transactions in an industry that is traditionally underfunded and heavily regulated. The tokens simplify the transaction process, while the underlying uranium is securely stored and only accessible to permitted buyers for physical settlement. This approach bridges the gap between accessibility and compliance, providing a transparent, decentralized market for uranium trading.
Fantasy top raised $4.3 million in a Seed round from Dragonfly Capital*, Manifold and others.
Fantasy top is a SocialFi trading card game (TCG) where players can earn ETH, BLAST and FAN points by leveraging the performance of their favorite crypto influencers on Twitter. The game showcases crypto Twitter influencers through tradable cards, allowing players to participate in online games and monetize their social capital and research expertise within the crypto community.
Perena raised an undisclosed amount of funding in a Pre-seed round from Borderless Capital*, Binance Labs Fund, Primitive, Anagram, Maelstrom, Breed VC, Temporal, ABCDE Capital, SevenX Ventures, Pivot Global, Miton, Graph Ventures and others.
Perena is a decentralized finance (DeFi) platform aimed at enhancing the usability, liquidity and rewards of stablecoins within the ecosystem. It provides a suite of tools designed to facilitate the seamless exchange of on-chain assets and maximize the yield generation of idle stablecoin liquidity. By aggregating liquidity into a central asset, Perena enables new stablecoins to access existing liquidity pools and underlying assets at a lower cost, reducing the barriers to entry. The platform also addresses the issues of liquidity pool fragmentation and shallowness by unifying liquidity and promoting efficient asset allocation.
Spicenet raised $3.4 million in a Seed round from Hack VC, Magnus Capital, TPC Ventures, Public Works, WAGMI Ventures, DoraHacks, P-OPS Team, The Rollup Ventures, Tekin Salimi, George Lambeth, Nick White, John Adler, Zaki Manian, Smokey The Bera and others.
SpiceNet is an app rollup customized for fast, reliable and capital-efficient trading. It runs as a sovereign rollup on Celestia, using ZK fraud proofs from the Sovereign SDK to shorten the challenge period to hours, enhancing its anti-fraud capabilities. SpiceNet provides sub-millisecond transaction processing, fee-less transactions and scalability through asynchronous execution and sharding. Its modular toolkit includes a shared order book and integrated exchange infrastructure, enabling developers to create high-performance trading applications with shared liquidity.
Neptune Protocol raised $3.9 million in a Seed round from Animoca Ventures, CMS Holdings, Bloccelerate, Maelstrom, Infinity Ventures Crypto (IVC), Builder Capital, RockTree Capital, Wise3 Ventures, Veil, Optic Capital, Relayer Capital, Stake Capital, WAGMI Ventures, NxGen, Zephyrus Capital, Global Coin Research (GCR), Revelo Intel, Cogitent Ventures, MH Ventures, Meltem Demirors, Ben Lakoff, Kartik Talwar and others.
Neptune Protocol is the native decentralized lending platform in the Eclipse ecosystem, supported by the Solana Virtual Machine (SVM). Its flagship product USDN is an over-collateralized stablecoin pegged to the US dollar, allowing users to obtain zero-interest loans while retaining their collateral. Neptune enhances the capital efficiency of ETH, SOL, TIA and other asset holders in the Eclipse, Ethereum, Solana and Celestia ecosystems.
Exabits raised $15 million in a Seed round from Hack VC*.
xaBITS is a decentralized infrastructure built for AI and compute-intensive applications, aiming to foster a fair, accessible and user-friendly AI ecosystem. Users can contribute to the exaBITS infrastructure, train unique AI models, and provide distributed GPU services, data storage or expertise to the AI community without a central authority, using Web3 identities for interaction.
ProvLabs (formerly Provenance Blockchain) raised an undisclosed amount of funding in a Seed round from Animoca Brands, Blockchange Ventures, CMT Digital, GateCap Ventures, Medalist Partners, Morgan Creek Capital, Provenance Blockchain Foundation, Serengeti Asset Management, The Operating Group, Thirdstream Partners, Walden Bridge Capital and others.
ProvLabs (Provenance Blockchain Labs, Inc.) provides blockchain infrastructure solutions for large-scale digitization of real-world assets. It is built for the public Layer 1 network Provenance Blockchain, offering enterprise-grade APIs, SaaS tools and professional services to help financial institutions deploy decentralized applications (dApps). Its services include integration with public Mainnet and private Zones, ensuring the security and scalability of asset digitization while preparing for the future of finance.
Kast raised $10 million in a Seed round from Peak XV Partners (formerly Sequoia India & South East Asia), HongShan (formerly Sequoia China), DST Global, Goodwater Capital and others.
KAST is a stablecoin-backed financial platform that provides virtual and physical crypto cards for global spending. Designed for on-chain savings, yields and transactions, the platform supports stablecoins like USDT, USDC and USDe. Its cards are compatible with Apple Pay and Google Pay, enabling seamless shopping at over 100 million merchants worldwide. Users benefit from real-time spending tracking, budgeting tools and reward programs. Prioritizing privacy and security, KAST leverages advanced crypto technology and multi-factor authentication for managing and spending digital assets.
Mandala Chain raised $1 million in a Pre-seed round from Harbour Industrial Capital*, NLS Ventures, O-DE Capital Partners and others.
Mandala Chain is a hybrid Layer 1 blockchain aimed at integrating government, enterprise and retail applications, starting from Indonesia. Built on Substrate, it ensures data security, supports decentralized identity, and achieves cross-chain interoperability. Its native token Kepeng Coin ($KPG) powers governance and transactions, driving Web3 adoption in emerging markets.
SmarDex raised $4.5 million in a Seed round (note: the original text did not provide the complete information on the investors).
SmarDex is a decentralized exchange (DEX) that leverages innovative automated market maker (AMM) algorithms to address the impermanent loss problem and potentially turn it into impermanent gains. SmarDex operates across multiple blockchain networks including Ethereum, Binance Smart Chain, Polygon, Arbitrum and Base, providing users with efficient token swaps, liquidity through volatility insurance vaults, and investment opportunities.
Other Financing Rounds
Glacier Labs raised $3.4 million in a public fundraising round.
Glacier Network is a Layer-2 Rollup network aimed at facilitating the development and interaction of decentralized applications (DApps). It provides a comprehensive ecosystem with data configuration for granular control, full data ownership, and seamless integration of decentralized databases (DDB), through its own smart contract ecosystem. Glacier Network empowers users to manage data usage for economic benefits, positioning it as a promising platform for building and scaling Web3 applications with programmable data composite solutions.
MegaLabs (MegaETH) raised $10 million in a public fundraising round.
MegaLabs is the developer of MegaETH, a blockchain aimed at achieving 100,000 transactions per second (TPS) while being fully compatible with Ethereum. MegaETH uses a heterogeneous blockchain architecture and highly optimized EVM execution environment to achieve real-time processing and high transaction throughput. This architecture allows network nodes to specialize and minimizes the hardware requirements for full nodes, ensuring the blockchain is fast, secure, and efficient.
Privasea raised an undisclosed amount of funding in a round led by Lunar Labs Capital.
Privasea AI Network is a solution to address data privacy challenges in the field of artificial intelligence. By combining fully homomorphic encryption with blockchain-based incentive mechanisms, it fundamentally transforms machine learning inference, enhancing privacy, facilitating collaborative AI computing, while ensuring users a secure and private AI computing experience.
Superform Labs raised $3 million in a strategic fundraising round led by VanEck*, Polychain Capital, CMT Digital, Amber Group, Node Capital, BlockTower Capital, Heartcore Capital, Maven 11 Capital, and UpTop.
Superform is a permissionless cross-chain yield market designed for DeFi protocols, allowing them to list their own vaults or asset pools. Users can deposit funds into these vaults and earn yields, while Superform simplifies the process by abstracting away the swapping and bridging, providing a single yield management interface.
Waterfall Protocol (BlueWave) raised $11.6 million in a funding round with participation from Bolt, Alpha Token Capital, and Enflux.
Waterfall Protocol is a highly scalable and fully decentralized Layer 1 smart contract platform developed by software company BlueWave based on Directed Acyclic Graph (DAG) technology and Fast Finality Proof-of-Stake (PoS) consensus mechanism. It aims to provide a scalable, secure, and truly decentralized governance platform for decentralized application (Dapp) development, while being Ethereum Virtual Machine (EVM) compatible and having low hardware requirements for validators.
AgriDex raised $4 million in a strategic fundraising round with participation from Portal Ventures*, Sycamore Gap Management Ltd., Endeavour Ventures, Hawkwood Capital, and HU Investments.
AgriDex is a Solana-backed RWA market that is revolutionizing the global agriculture industry by providing a transparent and integrated platform and its own internal economy. Utilizing on-chain fiat, smart contracts, and participant auditing, AgriDex offers a compliant and streamlined solution for agricultural supply chain management, enabling efficient and transparent transactions for participants in the agricultural sector.
Remora Markets raised an undisclosed amount of funding in an M&A fundraising round with participation from Step Finance.
Remora Markets is bringing tokenized securities to the Solana blockchain, allowing global users to access traditional stocks. Global users can seamlessly purchase whole shares or fractional shares of stocks on-chain, represented as SPL tokens. These tokenized assets are fully composable and interoperable with Solana's DeFi ecosystem, allowing for immediate integration with major platforms. Remora Markets bridges traditional finance and decentralized finance, providing a smooth, borderless, and easily accessible trading experience.
Wild Forest raised $100,000 in a public fundraising round.
Wild Forest is a free-to-play real-time strategy (RTS) game based on the Ronin blockchain, featuring fast-paced player-versus-player (PvP) combat and card collection elements. Players build bases, manage resources, and control units for dynamic battles, with the goal of destroying the opponent's castle. The game features multiple maps with unique themes and layouts, enhancing strategic depth. Players can collect and upgrade NFT unit cards to enhance their decks, with higher-tier cards providing greater value and power in battles. Wild Forest is playable on Android, iOS, PC, and Mac.
Zodia Custody raised an undisclosed amount of funding in a round led by Emirates NBD.
Zodia Custody is a digital asset custodian providing secure and compliant custody services for institutional investors. The company was co-founded by Standard Chartered and Northern Trust, combining the expertise of traditional banking with innovative digital asset solutions. Zodia Custody operates under the approval of regulators such as the UK Financial Conduct Authority and the Central Bank of Ireland, ensuring strict compliance standards. The company's services include cold wallet storage, staking, and seamless transactions from cold wallets, aiming to meet the complex needs of institutional clients in the evolving digital asset landscape.
Commonware raised $9 million in a round led by HAUN Ventures*, Dragonfly Capital, Nick White, Viktor Bunin, Sreeram Kannan, Dan Romero, Scott Sunarto, Smokey The Bera, and Zaki Manian.
Commonware is an open-source Rust-based blockchain framework aimed at providing specialized high-performance on-chain applications. It provides modular base components for consensus, cryptography, peer-to-peer communication, runtime execution, storage, and stream processing, allowing developers to customize blockchain components based on specific application needs. By decoupling traditional blockchain layers, Commonware aims to achieve ultra-high throughput and facilitate seamless interoperability, empowering developers to build customized and efficient blockchain solutions.
Sphere Labs raised $5 million in a strategic funding round led by Coinbase Ventures, Kraken Ventures, Anagram, Temporal, Anza, Pyth Network, BOOGLE, Nom, Echo, Shoe on Ventures, and Joe McCann.
Sphere Labs is a stablecoin operating system aimed at providing cost-effective, secure, and near-instant cross-border payment solutions for merchants in emerging markets. As the fundamental interface between end-users and stablecoins, Sphere coordinates blockchain, custodial infrastructure, and financial service providers through an intuitive graphical user interface, making stablecoin payments accessible.
Nano Labs raised $36.3 million in a private fundraising round.
Nano Labs Ltd is a leading fabless IC design company in China, focusing on high-throughput computing (HTC) and high-performance computing (HPC) solutions. Its innovative product lines include the Cuckoo and Darkbird series, which are among the first near-memory HTC chips optimized for bandwidth-intensive applications. Nano Labs is also a pioneer in distributed computing, storage solutions, smart network cards, visual computing chips, and rendering technologies. Leveraging its proprietary Floating-Point Unit (FPU) architecture, Nano Labs combines the characteristics of HTC and HPC to meet the demands of cutting-edge computing.
GEODNET raised an undisclosed amount of funding in a round led by ParaFi Capital.
GEODNET is a decentralized network that combines real-world Earth observation with blockchain technology, aiming to collect geospatial data from global terrestrial weather stations and provide secure and reliable data products. Participants contribute to the network by installing geodetic-grade Global Navigation Satellite System (GNSS) antennas on their rooftops and are rewarded with GEOD tokens for their contributions.
Soarchain raised $4.5 million in a funding round led by Taisu Ventures, BlockBuilders, Hyperithm, Plug and Play Ventures, Chorus One, Cogitent Ventures, and Elevate Ventures.
Soarchain is a sovereign application chain aimed at creating a token-incentivized data and connectivity infrastructure for vehicles. It enables cars to collect and share real-time data about their surrounding environment, improving the safety, efficiency, and autonomy of cities. Developers and data consumers can access these vehicle-generated data on a secure, open platform to build applications and services. The system reduces the cost of providing improved services, fostering smarter and more connected urban development.
Hyperbolic raised $12 million in Series A funding from Variant Fund, Polychain Capital, Chapter One, Lightspeed Faction, Bankless Ventures, GSR Markets LTD, IOSG Ventures, Vertex Ventures, Blockchain Builders Fund (BBF), Wintermute, Alumni Ventures (AVG), and Ambush Capital.
Hyperbolic is an AI cloud platform that aggregates global computing resources to provide accessible, economical, and scalable GPU resources and AI services. The platform offers high-throughput and low-latency AI inference services, scalable GPU access (with a pay-as-you-go model), and options to monetize idle GPUs. Hyperbolic supports multiple GPUs and ensures high availability, scalability, security, and fair compensation for contributors. The platform caters to researchers, companies, data centers, and individuals, aiming to drive AI adoption by making computing resources more accessible and economical.
Klickl raised $25 million in Series A funding from Web3Port Labs, Aptos Labs, Summer Ventures, Heritage Horizon Capital, Alpha Square Group, Heng Feng Group, and The Bond Group.
Klickl is a regulated open banking and virtual asset platform in the Middle East and North Africa (MENA) region, providing comprehensive crypto-friendly financial services. Its offerings include the Klickl 4U app for managing digital and fiat currencies, regulated custody solutions, payment gateways, and brokerage services. Klickl focuses on security and compliance, operating under decentralized licensing, and aims to provide inclusive financial services globally.
BounceBit received undisclosed funding from Boyaa Interactive.
BounceBit is a sister company of Bounce Finance, and is a Bitcoin re-staking protocol and native BTC re-staking chain. It employs a dual-token staking system secured by Bitcoin and BounceBit tokens, introducing a unique combination of DeFi and CeFi yield mechanisms that allow BTC holders to earn yields through native validator staking, the DeFi ecosystem, and CeFi mirroring mechanisms.
Orion Principals received undisclosed acquisition funding from Crypto.com Capital.
Orion Principals Limited is a brokerage firm headquartered in Abu Dhabi, regulated by the Abu Dhabi Global Market (ADGM). The company provides comprehensive financial services, including securities trading, futures, options, contracts for difference (CFDs), and foreign exchange (Forex) trading across major global markets. The company serves high-net-worth individuals, active traders, and institutional investors, providing access to over 40,000 financial instruments through its proprietary platform Orion Trader and a 24/5 active trading desk.
Relai raised $12 million in Series A funding from Ego Death Capital*, Plan B Bitcoin Fund, Timechain, and Solit Group.
Relai is a Bitcoin-only platform that allows small and medium-sized businesses to add Bitcoin to their balance sheets. The platform is designed to be simple, intuitive, and secure, making it easy for anyone in Europe to save and invest in Bitcoin.
Skip received undisclosed acquisition funding from the Interchain Foundation.
Skip provides blockchain infrastructure tools for cross-chain connectivity and data accessibility. Its solutions include the Skip:Go API for seamless multi-chain interaction, the Skip:Go Widget for cross-chain user onboarding, and the native oracle system Skip:Connect for real-time data streams. These tools provide efficient interoperability and sovereignty for decentralized applications.
TLX received undisclosed acquisition funding from Synthetix.
TLX is a decentralized leveraged token protocol on the Optimism network, allowing users to mint and trade tokens for up to 50+ assets with up to 20x leverage. TLX is powered by Synthetix's Perps V2 engine, providing deep liquidity, composability, and ERC-20 compliant tokens for seamless DeFi integration.
Astra DAO received undisclosed acquisition funding from Token Metrics.
Astra DAO is a decentralized, non-custodial automated crypto asset allocator and Launchpad platform, initially established on Ethereum and now running on Arbitrum. It provides users with various crypto-oriented investment strategies through index and participation unit markets. The platform's native utility token ASTRA facilitates governance, staking, and reward distribution. Astra DAO's Launchpad supports new blockchain projects, providing a comprehensive and secure environment for token sales.
SettleMint received undisclosed funding from The Hashgraph Association (THA).
SettleMint is a low-code blockchain platform that allows developers with little blockchain knowledge to build Web3 applications. The platform includes a suite of ready-to-use tools, frameworks, templates, and APIs for development teams.
Dtravel received undisclosed funding from Modular Capital.
Dtravel is a decentralized travel ecosystem that uses blockchain to solve issues of trust, reputation, and connectivity in the industry. Its protocol creates a single source of truth for travel data, enabling better connectivity and direct bookings, while Dtravel Direct allows short-term rental operators to build their own brands and develop direct booking businesses. The ecosystem also includes Dtravel Meridian, a composable travel NFT profile that holds travel history, reputation, and data, facilitating a trustless system for direct bookings.
Lava raised $10 million in Series A funding from Khosla Ventures, Founders Fund, Peter Thiel, and Joey Krug.
Lava is a financial platform that enables users to save in Bitcoin and spend in US dollars. It provides a Bitcoin-backed debit card, allowing users to seamlessly make everyday purchases. By combining Bitcoin savings with traditional consumption, Lava bridges the gap between cryptocurrency holders and traditional finance.
Terrace raised $2.5 million in a public fundraising round.
Terrace is a platform that combines a non-custodial cryptocurrency trading terminal and a portfolio management system, integrating over 40 centralized and decentralized exchanges across more than 13 blockchain networks. It provides trading tools for spot and derivatives markets, including smart order routing, limit orders, time-weighted average price (TWAP), and real-time order books. The platform's Pathfinder feature enables optimal path execution between any token-chain combination, while multi-wallet support allows users to seamlessly manage portfolios across various wallets and chains. Terrace serves institutional investors and retail traders, providing a comprehensive solution for efficient and secure cryptocurrency trading.
ChainAware.ai raised an undisclosed amount in a funding round led by ChainGPT Labs* and CoinIX Capital.
ChainAware.ai is an AI-based platform that enhances the security and user engagement of Web3 by customizing proprietary AI models for blockchain complexity. It provides tools such as wallet auditors, fraud detectors, and rug pull detectors, offering predictive analytics for fraud detection and wallet behavior assessment on Ethereum, Polygon, BNB Smart Chain, and TON Network. Additionally, ChainAware.ai offers Web3 marketing solutions, including user profile-based targeting and user analytics, to optimize marketing strategies and improve user conversion rates.
Bounty Bay raised an undisclosed amount in a funding round led by Animoca Brands.
BountyBay is a Web3 social commerce platform integrated into Telegram, leveraging The Open Network (TON) blockchain to connect brands, creators, and Telegram's vast user base. It facilitates a seamless social shopping experience, allowing users to earn rewards through social recommendations and group purchases.
ApeScreener raised an undisclosed amount in a funding round led by Messier.
Apescreener is an AI-based portfolio advisor and tracker aimed at helping users build, grow, and liquidate their cryptocurrency investments. By leveraging advanced AI solutions, it identifies investment opportunities and guides users in determining the optimal investment amounts, enabling them to make informed decisions in the cryptocurrency industry.
