This week, 27 blockchain startups raised $213.5 million, with the largest funding being a $4.25 million grant from the Optimism Foundation to Kraken.
Largest Funding Round This Week
Kraken
Kraken raised $42.5 million in a grant funding round from the Optimism Foundation.
Kraken is a cryptocurrency exchange founded in 2011. It provides a secure platform for spot and futures trading, supporting Bitcoin, Ethereum, and over 40 other digital assets. Kraken is focused on accessibility, aiming to enable users to invest in their financial independence. In 2020, Kraken became the first US exchange to receive a crypto bank charter, further expanding its digital finance services and capabilities.
Seed and Pre-Seed Investments
Spire Labs raised $7 million in a seed round led by Maven 11 Capital, Anagram, a16z Crypto Startup Accelerator (CSX), Bankless Ventures, Volt Capital, L2 Iterative Ventures (L2IV), Finality Capital, Digital Currency Group (DCG), and individual investors Collin Myers, Nick White, Anthony Sassano, Andy, and Amrit Kumar.
Spire is a customizable application chain framework built on the Ethereum OP Stack, optimized for sub-second transaction confirmations and enhanced modularity. It allows developers to deploy application chains with custom configurations, leveraging Ethereum's liquidity and security. Using serialization-based technology and composable infrastructure, Spire provides a highly scalable and decentralized environment for advanced Web3 applications.
Axal raised $2.5 million in a Pre-seed round from CMT Digital, a16z Crypto Startup School (CSS), Escape Velocity, Artichoke Capital, Trident Digital, Blockchain Builders Fund (BBF), IDG Capital, BlockHunters Group, and Mentat Group.
Axal is a decentralized network that provides support for Web3 applications through autonomous, verifiable proxies that execute tasks based on user-defined intents. It simplifies on-chain processes like transactions through its "Autopilot" feature, enabling optimized and risk-free execution. Axal focuses on the proxy market, ensuring transparency and eliminating counterparty risk, providing a streamlined approach to automation tasks in the Web3 space.
Phylax Systems raised $4.5 million in a Pre-seed round from Figment Capital, Nascent, Robot Ventures, Hash3, Bankless Ventures, Breed VC, Public Works, and individual investors Sandeep Nailwal, Keone Hon, Collin Myers, John Adler, Nic Carter, Eric Wall, Banteg, and Dean Eigenmann.
Phylax introduces a "Trust Layer", an embedded security framework in the blockchain base layer. Designed for dApp developers, it enforces verifiable on-chain security assertions to prevent hacks and vulnerabilities. Phylax's system includes a "Proof of Provenance" (PoP) mechanism for preventative vulnerability verification, and an assertion registry for managing and monetizing security rules. This infrastructure provides a transparent and decentralized approach to blockchain security, enabling developers to easily and robustly define and enforce security protocols.
Sapien AI raised $10.5 million in a seed round from Variant Fund, Primitive, Animoca Brands, Yield Guild Games (YGG), and HF0.
Sapien is a gamified Web3 platform where users can play, earn, and train AI by completing data annotation challenges. The platform rewards participants for accurate data labeling, helping to train AI models, while providing cash rewards and leaderboard prizes. Sapien's mission is to create a global "AI Data Heroes" network, combining gaming and data tasks to make AI training fun and economically rewarding.
MagmaDAO raised $3.9 million in a seed round from Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil, Builder Capital, Infinity Ventures Crypto (IVC), RockTree Capital, Wise3 Ventures, Stake Capital, Relayer Capital, and individual investors Meltem Demirors, Kartik Talwar, and Ben Lakoff.
Magma is a liquid staking protocol built on Monad, allowing users to stake MONAD tokens and receive gMONAD in return, which can be used in DeFi. The platform distributes staking rewards through block space auctions and additional APY generated from MEV (Maximum Extractable Value) rewards. Magma emphasizes community governance in the Monad ecosystem, allowing members to participate in decision-making and protocol direction.
Nitro Labs (Termina) raised $4 million in a seed round from Lemniscap, Animoca Ventures, Borderless Capital, Finality Capital, Race Capital, and No Limit Holdings (NLH).
Nitro Labs is a Solana scaling infrastructure developer. Its project Termina is a decentralized infrastructure platform built on the Solana Virtual Machine (SVM), aiming to enhance the scalability, interoperability, and execution efficiency of dApps. It uses the SVM to rapidly deploy custom blockchains, providing dedicated block space, modular customization, and scalable computing resources. Termina's abstraction layer extends the application scope of Solana, providing high-performance and reliability for developers seeking to leverage the Solana ecosystem.
81Ravens (Paravox) raised $4.5 million in a seed round from Digital Hearts Holdings and GREE Inc.
81Ravens is a platform focused on decentralized autonomous organizations (DAOs) and blockchain technology, providing tools and infrastructure for collaborative project management and governance. Its project Paravox is a new type of competitive esports shooting game that incorporates Web3 elements.
Native raised $2.6 million in a seed round from Nexus Mutual.
Native is a crypto insurance brokerage that combines traditional insurance with on-chain capital. It provides risk coverage of up to $20 million for digital assets, allowing clients to pay or receive claims in cryptocurrency. Additionally, Native operates a capital pool on Nexus Mutual as a managing general agent (MGA) to support its underwriting business. Its mission is to expand insurance capacity and address the insurance gap in the digital asset space.
PumpBTC raised $10 million in a seed round from SevenX Ventures, Mirana Ventures, UTXO Management, Mantle Network, Seven Seas Capital, Istari Ventures, Arcane Group, Coinsummer Labs, Sharding Capital, and 10K Ventures.
PumpBTC is a liquidity staking platform that allows BTC holders to maximize their yields through Babylon's shared security mechanism. It enables users to stake BTC derivatives (e.g., WBTC) to earn pumpBTC, which accrues yield. Users can earn rewards through staking options, Layer 2 integrations, and protocol activities.
KRNL Labs raised $1.7 million in a Pre-seed round from TRGC, Superscrypt, Ryze Labs, Blockchain Founders Fund (BFF), Builder Capital, Stix, WAGMi Venture, and YAP Capital.
KRNL is a decentralized infrastructure protocol that redefines dApp execution by integrating permissionless modular "kernels" (execution sharding) across multiple blockchains to optimize scalability, security, and interoperability. With its execution sharding and unique computation engine, KRNL accelerates dApp deployment and improves efficiency. It includes features like Proof of Provenance (PoP) for verification and a decentralized registry for kernel monetization, providing a flexible platform that shortens the time-to-market for advanced Web3 applications.
Cap Labs raised $1.9 million in a Pre-seed round from Kraken Ventures, Robot Ventures, Anagram, ABCDE Capital, SCB Limited, Kain Warwick, and Fernando Martinelli.
CAP Labs is a DeFi protocol that provides a stablecoin mechanism aimed at generating high and sustainable yields. CAP Labs focuses on optimizing capital efficiency, aiming to offer decentralized yield options that traditional finance cannot achieve. The platform combines advanced DeFi strategies to maximize the profitability and accessibility of stablecoins.
Libraro raised an undisclosed amount in a seed round from Ayre Ventures.
Libraro is a Web3-based platform aimed at providing a space for authors, readers, and publishers to connect, discover, and share stories. It offers a decentralized space where writers can retain control over their works, readers can explore diverse genres, and publishers can discover new talents. Utilizing blockchain for copyright protection, Libraro enables authors to interact with community-driven audiences and provides secure, collaborative opportunities for digital publishing.
Other Funding Rounds
Delabs Games raised an undisclosed amount in a funding round with participation from TON Ventures.
Delabs Games is a blockchain game developer that has created the PC game "Rumble Racing Star" (the "Mario Kart" for NFT enthusiasts), the space survival game "Space Frontier", and the cartoon-style post-apocalyptic survival game "Meta Bolts". These games are built on the Polygon network and have received strong support from the renowned Korean game developer 4:33 Creative Lab.
Triangle raised an undisclosed amount in an acquisition financing round with participation from Bridge.
Triangle is a multi-chain Web3 infrastructure platform that provides powerful APIs for wallet, payment, DeFi, Non-Fungible Token (NFT), and game integration. It simplifies the complexity of blockchains by providing a unified interface to support various use cases and achieves built-in security through multi-party computation (MPC). Triangle supports chains such as Ethereum, Solana, and Polygon, allowing developers to seamlessly embed blockchain functionalities across different ecosystem applications.
Llama raised an undisclosed amount in an acquisition financing round with participation from River.
Llama is a blockchain platform designed for on-chain governance and access control of smart contracts. It allows the creation of fine-grained roles and permissions to execute transactions, precisely controlling operations such as fund transfers or changes to protocol parameters. Llama aims to improve the effectiveness of blockchain protocol governance by providing granular access control and security features.
Alliance Games raised $5 million in a Series A funding round with participation from Animoca Brands, Asymm Ventures, The Spartan Group, Dialectic, Kyros Ventures, Arche Fund (Coin98 Ventures), Sebastien Borget, and Loi Luu.
Alliance Games is a decentralized Web3 gaming infrastructure that provides permissionless server hosting and data storage for blockchain-based games. It supports community-owned nodes, offering a secure, chain-agnostic, and easy-to-deploy environment, similar to AWS. The platform provides AI-driven game development tools, a decentralized data network, and a new game launchpad.
Chainway Labs (Citrea) raised $14 million in a Series A funding round with participation from Founders fund, Maven 11 Capital, Mirana Ventures, dao5 (daofive), Zero Knowledge Validator (ZKV), Axiom, Balaji Srinivasan, Nikil Viswanathan, Joe Lau, Nathan McCauley, Mustafa Al-Bassam, Nick White, Shumo Chu, Spencer Noon, Batuhan Dasgin, Dogan, DiscusFish, Sunny Aggarwal, and Jill Gunter.
Chainway Labs is a blockchain infrastructure company focused on Bitcoin, Ethereum, and zero-knowledge technologies. Chainway Labs has developed Citrea, the first zk Rollup for Bitcoin. Citrea is the first rollup that leverages zero-knowledge technology to enhance Bitcoin block space, allowing the development of various applications on the Bitcoin network without modifying its consensus rules. As a Type 2 zkEVM, Citrea processes zkEVM transaction batches, providing succinct zero-knowledge proofs for easy verification on Bitcoin, supporting light nodes, and featuring a generalized minimized-trust two-way anchoring mechanism.
Glow Labs raised $30 million in a funding round with participation from Framework Ventures and Union Square Ventures (USV).
Glow Labs is a community-driven platform focused on driving the global adoption of solar energy. By allowing users to fund solar farms, they can earn Impact Points and Glow Carbon Credits (GCC), which represent verifiable CO₂ reductions. Glow emphasizes transparency, using third-party data to validate environmental impact. The platform supports a community-driven approach to addressing climate change through accessible and incentivized solar projects.
Ellipsis Labs raised $20 million in a funding round with participation from HAUN Ventures.
Ellipsis Labs builds sustainable and efficient DeFi protocols on high-throughput decentralized infrastructure. Ellipsis Labs' flagship protocol is Phoenix, a fully on-chain, decentralized limit order book on Solana. Ellipsis Labs' contributions to the Solana ecosystem also include Solana Verified Builds, a tool for verifying the on-chain source code of Solana programs.
Roolz raised $1 million in a public sale funding round, with the investors not disclosed.
Roolz is a platform that combines anime, mobile applications, and digital collectibles, supported by the $GODL token. As the first intellectual property (IP) of RoOLZ Studio Inc., it adopts a community-driven entertainment approach. Users can participate in quests, interact with mobile anime content, and collect Non-Fungible Tokens (NFTs). The anime series and games are developed by artists who have worked on titles like "Demon Slayer" and "Attack on Titan". Built on the Telegram/TON ecosystem, Roolz combines blockchain technology with anime to provide a unique experience for an anime-based interactive digital entertainment world.
Gunzilla Games raised an undisclosed amount in a funding round led by VanEck.
Gunzilla Games is a game development studio known for its innovations in the multiplayer gaming space. They are developing "Off The Grid", a cyberpunk-style battle royale 2.0 game set in a dystopian future. Gunzilla Games empowers players through its GunZ platform, allowing them to own in-game items and facilitate in-game item transactions using blockchain technology.
Nillion raised $25 million in a funding round with investments from Hack VC, Distributed Global, SALT fund, Manifold, Animoca Brands, Presto Labs, Jordi Alexander, DCF God, Ansem, DCBuilder, and DefiSquared.
Nillion is a Web3 startup aiming to build a non-blockchain decentralized network for secure data storage and computation.
GEODNET raised an undisclosed amount in a funding round led by Animoca Brands.
GEODNET is a decentralized network that combines real-world earth observation with blockchain technology, aiming to collect geospatial data from global atmospheric stations and provide secure and reliable data products. Participants can contribute to the network by installing geodetic-grade Global Navigation Satellite System (GNSS) antennas on their rooftops and earn GEOD tokens as a reward.
Gelato Network raised $11 million in a Series A funding round with investments from Hack VC, Animoca Brands, IOSG Ventures, and Bloccelerate.
Gelato is the decentralized backend for Web3, empowering developers to create automated and efficient smart contracts across various Ethereum Virtual Machine (EVM)-compatible blockchains. Through services like Web3 Functions, Automate, Relay, and Gasless Wallet, Gelato simplifies transaction execution and provides a seamless user experience, trusted by leading Web3 projects, including decentralized finance (DeFi) platforms like MakerDAO and PancakeSwap, as well as scaling solutions like Optimism.
BitSmiley raised $10 million in a funding round with investments from NxGen, IBC Group, Ca Capital, Pragma Ventures, Zephyrus Capital, MH Ventures, Veris Ventures, Side Door Ventures, KuCoin Ventures, NewTribe Capital, Kinetic Kollective (formerly CSP DAO), GuildQB, DCI capital (Dutch crypto investors), Aegis Ventures, Skyland Ventures, Cypher Capital, and TPC Ventures.
BitSmiley is a protocol within the Bitcoin blockchain, including a decentralized stablecoin, a trustless lending platform, and a derivatives protocol under the Fintegra framework. Its flagship product, bitUSD, is a Bitcoin-backed over-collateralized stablecoin that can facilitate value stability and transparency on the Bitcoin blockchain, while the broader BitSmiley ecosystem also includes bitLending for peer-to-peer lending and a credit default swap (CDS) department to redefine financial derivatives in the Bitcoin DeFi space.
Streamflow raised $1.9 million in a funding round led by John Lilic, Jump Crypto, Solana Ventures, Infinity Ventures Crypto (IVC), Genesis Block Ventures Capital (GBV), Genblock Capital, Hypersphere, Amber Group, T3E, HTX Ventures (formerly Huobi Ventures), and PrimeBlock Ventures.
Streamflow is a token distribution platform that provides solutions for token unlocking, airdrops, staking, token locking, and payroll management. The platform is built for Web3 projects, offering customizable and automated tools to help teams manage on-chain finance across ecosystems including Solana, Aptos, and Sui.
