Chainlabs Investment Research Weekly Report | 16 public financing events occurred in the encryption market

ChainlabsJan 22, 2024
Chainlabs Investment Research Weekly Report | 16 public financing events occurred in the encryption market

According to incomplete statistics from CoinVoice, there were more than 16 project financing cases in the blockchain field announced this week (1.15-1.19), including 4 in the infrastructure field, 3 in the CeFi field, 3 in the DeFi field, and 3 in the Web3 field. With three tens of millions of US dollars in financing, HashKey Group, a digital asset financial services group, completed nearly US$100 million in Series A financing at a pre-money valuation of more than US$1.2 billion, which was also the largest financing event this week. From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and Web3 tracks. The following is an overview of this week’s financing events.


Web3 infrastructure platform zbyte completes $5 million in financing from Cartography Capital

Web3 infrastructure platform zbyte has received $5 million in investment, with participation from Cartography Capital, Businessline reports.

This financing transaction includes an investment commitment of US$1 million. The zbyte mainnet provides low-code, no-code modular services that allow Web2 developers to easily create decentralized applications.

Web3 payment platform Fetchch completes US$1.5 million in Pre-Seed round of financing, Hashkey Capital, etc.

Web3 payment platform Fetch announced the completion of a $1.5 million Pre-Seed round of financing, led by Hashkey Capital and AppWorks Venture, with participation from LD Capital, Compute Ventures, M6 and GravityX Capital. Fetchch provides infrastructure for the digital payments and rewards platform of the Web3 payments ecosystem, with a focus on cross-chain payments. It has been integrated with more than 23 wallets, with an average daily transaction volume of US$35,000. According to reports, the new financing will be used to expand the engineering and research teams and accelerate the development of cutting-edge payment solutions to enable individuals and businesses to conduct seamless and secure transactions on the blockchain. (Economic Times)

Decentralized vehicle data network Digital Infrastructure completes $11.5 million in Series A financing

Digital Infrastructure, a startup focusing on decentralized physical infrastructure networks, recently completed an $11.5 million Series A round of financing, led by cryptocurrency investment company CoinFund, Slow Ventures, ConsenSys Mesh, Borderless Capital, and Bill Ackman’s Table Management and former General Motors CEO G. Rick Wagoner Jr. participated in the investment. Digital Infrastructure is developing the DIMO Network, a decentralized vehicle data protocol that allows drivers to collect and view their own car data and earn DIMO token incentives.

Mozaic, the yield strategy platform powered by LayerZero, announces funding from Arbitrum Foundation

Mozaic, a yield strategy powered by LayerZero, announces funding from the Arbitrum Foundation, a grant that will be earmarked for audit costs and incentives for the upcoming Theseus Vault, which is scheduled to launch to an exclusive group of testers next week , and then open to the wider public.

According to crypto data platform RootData, Mozaic is an AI-optimized yield and liquidity strategy powered by LayerZero.


French crypto market maker Flowdesk completed $50 million in Series B financing, led by Cathay Innovation

French cryptocurrency market maker Flowdesk has completed a $50 million Series B financing. This round of financing was led by Cathay Innovation, with participation from Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Ripple, and Bpifrance (French state-owned investment bank). Flowdesk co-founder and CEO Guilhem Chaumont said in an interview that this is a pure equity financing round. According to people familiar with the matter, the new round of financing will increase Flowdesk’s valuation from US$100 million in Series A financing to more than US$250 million.

Institutional staking platform Kiln raised US$17 million, led by 1kx and participated by IOSG Ventures and others

Institutional staking platform Kiln announced the completion of US$17 million in financing, led by 1kx, with participation from IOSG Ventures,, Wintermute Ventures, KXVC, LBank and existing investors. The new financing will be used to fund Kiln’s global expansion, including growing the regional unit by opening its Asia Pacific (APAC) headquarters in Singapore in the first quarter of 2024, and by expanding its platform to include various reward mechanisms within DeFi to further develop the product. Kiln’s white-label staking technology platform brings together stakers, node operators and integrators with multiple applications and has grown steadily over the past 12 months. Rated data shows that Kiln is now the largest operator of Ethereum validator nodes since its launch. In the last year alone, Kiln has increased the size of the staking it manages by more than 5x and integrated with multiple operators and integrators, including leading custodial solutions, wallets, and exchanges. HashKey Group completed nearly US$100 million in Series A financing, with a pre-money valuation of more than US$1.2 billion

According to official news, digital asset financial services group HashKey Group announced the completion of nearly US$100 million in Series A financing at a pre-money valuation of more than US$1.2 billion. In addition to the active subscription and support from existing shareholders, new investors in this round of financing include large institutional investors, leading Web3 institutions and strategic partners. This round of financing will be used to deepen HashKey’s ecological layout in the virtual asset industry, accelerate the diversification of licensed business products in Hong Kong, and promote the group’s global compliance and innovation development.


WOO X completed strategic financing of US$9 million, with participation from Wintermute, Selini Capital and others

Cryptocurrency exchange WOO X announced the completion of US$9 million in strategic financing, all from WOO Efficient Frontier, Amber and Riverside Hedge. The main purpose of this strategic financing is to further strengthen the cooperation between market makers and WOO X and improve its liquidity. WOO co-founder Jack Tan said the new financing will be mainly used for global market expansion, reinvesting in improving its product suite, obtaining regulatory licenses in key markets, and aggressive marketing to increase its market share in CeFi. He emphasized that the main purpose of the plan is to coordinate the interests of liquidity providers rather than to raise funds, since the total amount is less than a quarter of the Series A financing. He also noted that the only participants in the round will be market makers, who will help increase WOO X’s liquidity rather than acting as a traditional venture capital fund.

Canza Finance completes US$2.3 million in strategic financing, led by Polychain

Blockchain finance company Canza Finance announced the completion of US$2.3 million in strategic financing, with Polychain leading the investment, Protocol Labs, Ava Labs, 99 Capital, Bitscale Capital, Stratified Capital, Contango Digital Assets, Kairon Labs, Mapleblock Capital and others participating. Canza Finance will use the funding to further develop its tools and services, aiming to reduce the cost of doing business on the African continent. According to news in March 2022, Canza Finance announced the completion of a US$3.27 million seed round of financing, led by Fenbushi Capital, with participation from the founders of Dominance Ventures, Bixin Ventures, ConsenSys Mesh, Protocol Labs, Emurgo Ventures, MEXC Global, NGC Ventures, XanPool, HashKey, and Celo. cast.

Renzo, the re-pledge agreement, completed a US$3.2 million seed round of financing, led by Maven11, SevenX Ventures, etc.

EigenLayer ecological liquidity re-pledge agreement Renzo announced the completion of a US$3.2 million seed round of financing, led by Maven11, with participation from SevenX Ventures, IOSG Ventures, Figment Capital, Bodhi Ventures, OKX Ventures, Mantle Ecosystem, Robot Ventures, Paper Ventures, etc. According to reports, the core of Renzo is the liquid re-pledge token ezETH, which users can mint by depositing Ethereum or LST into Renzo. ezETH can be further used in other DeFi protocols to earn compound interest returns. Renzo abstracts all the complexity for end users, allowing them to participate in re-staking of the EigenLayer ecosystem with a low threshold. (The Block)


Web3 gaming company AOFverse completed a $3 million private placement round led by Animoca Ventures

Web3 mobile gaming company AOFverse announced the completion of a $3 million private placement round led by Animoca Ventures, with participation from Liquid X Ventures, Chainridge VC, Ticker Capital, Flying Falcon and BSCN Gaming Ventures. AOFverse previously received grant support from the Arbitrum Foundation. It is reported that AOF is headquartered in London and is expected to launch its flagship game Army Of Fortune later this year. (Decrypt)


Data tracking platform Safari completes US$2.4 million in financing, led by Lemniscap

Web3 data tracking platform Safari announced the completion of US$2.4 million in pre-seed financing. The round was led by Lemniscap, with participation from Arca, SevenX, Big Brain Holdings, Saison Capital, Diaspora Ventures and 20 web3 angel investors, 14 of whom are Safari members of the community. Safari aims to be a Web3 alternative to Google Analytics, replacing traditional tracking systems without relying on cookies. Visitors, wallets can be tracked directly in the dashboard. (prnewswire)

Web3 advertising platform Linkko completes strategic financing, led by W3M Ventures

Web3 advertising platform Linkko has completed strategic financing, with Web3 Media (W3M) Ventures leading the investment. The specific financing amount has not yet been disclosed. The new funding will be used to develop features, expand partnerships and grow its user base. Linkko was founded in 2023 and is headquartered in Singapore. It aims to use on-chain analysis to provide advertisers with "accurate" targeting. Target users can watch ads and receive rewards (rewards range from a few cents to a few dollars).

Web3 data analysis company 0xScope completes US$5 million in financing, led by HashKey Capital

According to official news, Web3 data analysis company 0xScope completed a $5 million Pre-Series Series A round of financing. This round of financing was led by HashKey Capital, Redpoint China, OKX Ventures, GSR Markets, Amber Group, Antalpha and DHVC, as well as existing shareholders Mask Network , Hash Global and XIN Family also participated in the investment.


This article is for informational purposes only. It is not offered or intended to be used as investment or other advice.

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