Chainlabs Investment Research Weekly Report | 23 public financing events occurred in the crypto market

ChainlabsFeb 05, 2024
Chainlabs Investment Research Weekly Report | 23 public financing events occurred in the crypto market

According to incomplete statistics from CoinVoice, there were more than 23 project financing cases in the blockchain field announced this week (1.29-2.2). Cube.Exchange, a hybrid cryptocurrency trading platform, announced the completion of a $12 million Series A round of financing, led by 6th Man Ventures. It is also the largest financing event this week. In the segmented fields, the investment and financing amount this week is concentrated in the direction of DeFi and Web3. The following is an overview of this week’s financing events.

DeFi

Hybrid crypto trading platform Cube.Exchange completed $12 million in Series A financing at a $100 million valuation

Cube.Exchange, a hybrid cryptocurrency trading platform, announced the completion of a $12 million Series A round of financing, led by 6th Man Ventures, with participation from GSR Markets, ParaFi Digital, Susquehanna Private Equity Investments, Everstake Capital, and others. The valuation of this round of financing reached $100 million. Dollar. It is reported that Cube uses a hybrid model of off-chain order matching and on-chain settlement to allow users to maintain asset ownership without having to transfer assets to exchange custody accounts. (The Block)

Nibiru Chain completed strategic round of financing, Oddiyana Ventures participated in the investment

DeFi project Nibiru Chain announced the completion of a strategic round of financing, with Oddiyana Ventures participating in the investment. The specific investment amount has not yet been disclosed. It is reported that Nibiru Chain completed an $8.5 million seed round last year at a valuation of $100 million, with Tribe Capital, Republic Capital, NGC Ventures and Original Capital jointly leading the investment.

Ethereum liquidity protocol Puffer Finance completes a new round of financing, with Binance Labs participating in the investment

Binance Labs announced that it has invested in Puffer Finance, an Ethereum liquidity re-hypothecation protocol built on EigenLayer. Brevan Howard Digital, Jump Crypto and Lightspeed Faction participated in the investment. The specific amount has not yet been disclosed. Puffer will use the funds to develop its Layer 2 network. The network will run as an EigenLayer active authentication service.

Decentralized derivatives trading platform BBO Exchange completes US$2.7 million in Pre-Seed round of financing

The decentralized derivatives trading platform BBO Exchange (BBOX) completed a $2.7 million Pre-Seed round of financing, co-led by Hashed and Arrington Capital, with participation from Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, Laser Digital (Nomura Group ), Arcane Group, Draper Dragon, Vessel Capital, Aulis Venture, Formless Capital, Press Start Capital, One Piece Labs, etc. participated in the investment, and individual investors also included Keone Hon and Honbo Tang. BBOX is committed to becoming the ultimate derivatives trading platform for DeFi. The platform solves the problem of oracle quotation delays through its innovative auction mechanism. BBOX AMM introduces multi-asset support and a dynamic management system based on market signals to provide on-chain traders and liquidity providers with higher capital utilization efficiency and income. BBOX is also one of the 6th phase projects of Binance Labs incubator. BBOX has now opened test network registration. Users can apply for registration through BBOX Twitter or the official website.

Composable options protocol Ithaca Finance completes US$2.5 million in Pre-Seed financing

Composable options protocol Ithaca Finance announced that it has completed a $2.5 million Pre-Seed round of financing, co-led by Cumberland and Wintermute Ventures, with Room40 Ventures, Ghaf Capital Partners, and DARMA Capital co-founders Andrew Keys, Stan Miroshnik, and Axelar co-founder Georgios Vlachos Waiting for angel investors to participate. Ithaca Finance is reported to be online on the Arbitrum testnet, and only invitees will be invited to launch the mainnet before the full launch later this quarter.

Decentralized perpetual contract protocol Zeepr Labs completes new round of financing

A decentralized perpetual contract agreement, Zeepr Labs, announced on the It is reported that Zeepr is a decentralized perpetual contract protocol that supports both currency-based and U-standard, and aims to provide an on-chain perpetual contract trading experience with no slippage and no funding fees.

Ordiswap, the Bitcoin ecological DeFi project, completed a strategic round of financing, with DWF Labs participating in the investment

Bitcoin ecological DeFi project Ordiswap announced on the X platform that it has completed a strategic round of financing. DWF Labs participated in the investment and reached a partnership with it. The new funds will be used by Ordiswap to develop DeFi infrastructure and ecosystem for Bitcoin.

NFT/chain game

NFT game project Pixelmon completed $8 million in seed round financing, with Animoca Brands participating in the investment

NFT project Pixelmon completed a $8 million seed round of financing, with participation from Animoca Brands, Delphi Ventures and Foresight Ventures, as well as Amber Group, 9GAG founder Ray Chan and Immutable co-founder Robbie Ferguson. Pixelmon is a decentralized gaming brand based on the mythical creature of the same name. It is owned by Pixelation Labs, a subsidiary of Singapore-based Web3 venture LiquidX Studios. Pixelmon CEO and LiquidX co-founder Giulio Xiloyannis said Pixelmon is currently developing four games, including "PixelPals," which will be released this month. Pixelmon said the team plans to use the new funding to advance the development of casual and mid-core games.

Chain gaming platform Yooldo completed US$1.5 million in financing, with participation from Manta Network and others

According to official news, chain gaming platform Yooldo announced the completion of US$1.5 million in financing at a valuation of US$13 million, with participation from Bedrock Ventures, Double jump.tokyo, Edimus, Hyperithm, Klaytn Foundation, Manta Network, Neopin, Planetarium, Presto Labs, and Vista Labs. . In addition, grant sponsors include Aptos Foundation, BNB Chain, Immutable X, and Oasys. The new financing will be used to improve the technology, bring more games to the platform, and grow its community. It is reported that Yooldo has been included in the Consensys Scale Program and Google for Startups Program.

Web3 social game Forgotten Playland completes US$7 million in seed round financing

According to official news, Web3 social game Forgotten Playland announced the completion of a $7 million seed round of financing, with participation from Merit Circle, Spartan Group, C2 Ventures, Paper Ventures and others. Forgotten Playland is scheduled to be released in the first quarter of 2024 and will include a series of mini-games, with Bump-A-Ball and Jungle Rumble already confirmed, with more in development. Forgotten Playland is understood to have more than 25 employees.

Web3

Web3 codeless DApp ecosystem protocol Forward Protocol raises $1.25 million

Web3 codeless DApp ecological protocol Forward Protocol announced the completion of US$1.25 million in financing, including US$500,000 in seed round financing and US$700,000 in private placement round financing. CVVC, AU21, X21 and GDA Capital, Polygon, Bitcoin.com, and Utopian Capital, Marathon Capital, Cuan Ventures, Ardura Capital, MEXC, Stakez Capital, Magnus Capital, MarketAcross, Basics Capital, CRT Capital, Polygon Studios, Master Ventures, BlackDragon, Tokenova, Lotus Capital, NFT Technologies, Darkpool Capital, Octopus Capital, ZBS Capital, IBC Group, Polygon Syndicate and Oracles Investment Group also participated in the investment. Karnika E. Yashwant, co-founder of Forward Protocol, said the new funding will help Forward make blockchain technology simple for non-technical people. Forward Protocol aims to enable mass adoption of blockchain by creating an open source Web3 toolkit for a value-driven economy.

DePIN infrastructure provider Hivello completed a new round of financing of US$1.5 million, with participation from IDG and others

Hivello, a decentralized DePIN infrastructure service provider, announced the completion of a new round of financing of 1.5 million, with participation from Blockchange, Cypher Capital, MH Ventures, Primal Capital, Contango Digital Assets, Candaq, NGC, Blockchain Founders Fund, IDG, etc., plus 2023 The company raised US$1 million in financing in December, bringing the company's total financing to US$2.5 million to date. The company intends to use the new financing to expand its technology capabilities, accelerate product development, and strengthen its market position in the DePIN space. (Finsmes) In December last year, Hivello announced the completion of a $1 million Pre-Seed round of financing, with participation from NGC, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block and NxGen. cast.

RWA ecosystem TProtocol completed angel round financing, with participation from Spark Digital Capital and others

CoinVoice recently learned that according to official news, the RWA ecosystem TProtocol announced the completion of angel round financing, with participation from Summer Capital, Matrixport Venture, Spark Digital Capital, etc. The specific financing amount has not yet been disclosed. The new financing will be used to drive TProtocol’s development into a comprehensive blockchain RWA aggregator. It is reported that TProtocol aims to authorize RWA issuers to achieve on-chain, cross-chain and asset listing within the TProtocol platform.

Web3 distributed AI training network PublicAI completes US$2 million in seed round financing

According to The Block, Web3 distributed AI training network PublicAI completed a US$2 million seed round of financing, led by IOBC Capital, with participation from Foresight Ventures, Solana Foundation, Everstate Capital and a number of well-known academicians and professors in the field of artificial intelligence. The funds raised will be used to accelerate the launch and marketization of its training network.

It is reported that PublicAI is committed to using blockchain technology to produce massive amounts of high-quality training data on a large scale to solve all the problems faced by artificial intelligence so far, allowing all mankind to participate in the joint construction of artificial intelligence and share its benefits.

Web3 base layer KIP Protocol focusing on AI completes strategic round of financing

KIP Protocol, the Web3 base layer focusing on AI, announced the completion of a strategic round of financing, led by Animoca Ventures, B.Army (Vietnam), CSP DAO (Europe, Middle East and Africa), MQdao, Spicy Capital (Latin America), Skyvision Capital (Hong Kong) ) and Purechain Capital (UK) participated in the investment. KIP Protocol protects the digital property rights of artificial intelligence value creators through Web3 and aims to promote the common goal of decentralized artificial intelligence.

CeFi

Crypto transfer and payments company Mesh receives $6.5 million investment from PayPal

According to Fortune magazine, crypto transfer and payment service startup Mesh received $5 million in PYUSD stablecoin investment from PayPal. In addition to PYUSD, PayPal Ventures also added $1.5 million in cash investment.

According to RootData market data, encrypted transfer and payment service startup Mesh (formerly known as Front Finance) completed a $22 million Series A round of financing in September last year, led by Money Forward, Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC and multiple angel investors participated.

Cryptocurrency trading service company Velar completes $3.5 million in new round of financing

Cryptocurrency trading service startup Velar announced that it has completed a new round of financing of US$3.5 million. The specific investment institution information has not yet been disclosed. Verlar, which primarily builds tools for the Bitcoin DeFi scene, plans to use its latest funding to launch a perpetual swaps exchange that supports the Bitcoin network, CEO Mithil Thakore said. (CoinDesk)

Web3 gaming company Saltwater completes $5.5 million in seed round financing

Web3 gaming company Saltwater announced the completion of a US$5.5 million seed round of financing, jointly led by crypto investment institutions Deus X and Fourth Revolution Capital (4RC). The new funds will be used to increase the number of employees, invest in new technologies, and expand the business into new areas. .

infrastructure

Liquidity proof protocol Infrared completes $2.5 million in seed round financing

Berachain ecological liquidity proof infrastructure Infrared Finance announced the completion of a US$2.5 million seed round of financing, led by Synergis, NGC Ventures, Tribe Capital, CitizenX, Shima Capital, Dao5, Signum Capital, Ouroboros Capital, Decima, OakGrove Ventures, DoraHacks, TenzorCapital, Alex Shin, Albert Chon, Charles Lu, Mr. Block, Chris Spadafora, DCF God and others participated in the investment. Infrared aims to support liquidity staking in the Berachain ecosystem in the context of Proof-of-Liquidity (PoL). The funds will be used to advance its infrastructure, including its validator network, PoL vaults, and its native liquidity staking token (LST), iBGT.

Liquidity aggregation investment strategy protocol Doubler completes seed round financing

Liquidity aggregation investment strategy protocol Doubler announced the completion of a seed round of financing, led by Youbi Capital, Bixin Ventures, Mask Network, Comma3 Ventures, Pivot Labs, Continue Capital, Sanyuan Capital, Waterdrip Capital, DWF Ventures, Gate Labs, Formless Capital, MT Capital and CatcherVC and other institutions participated in the investment. The specific financing amount has not been disclosed yet. Doubler is an open DeFi protocol that uses a Martingale strategy to aggregate market liquidity, combining the need for zero-loss hedging with the profit needs of speculators.

Cross-link routing service provider Squid completed a strategic round of financing of US$4 million, led by Polychain Capital

Cross-chain routing service provider Squid announced the completion of a US$4 million strategic round of financing, led by Polychain Capital, with participation from Nomad Capital, North Island Ventures, Maelstrom and Chorus One, The Department of XYZ, Breed, Binary Builders and Typhon Ventures. At the same time Squid also received additional investment from Distributed Global, Fabric Ventures, Node Capital and Chapter One. Squid currently supports thousands of assets on more than 60 chains, and this financing enables the team to continue to expand the EVM and Cosmos ecosystem, and will also build deeper integrations with more decentralized applications (dApps). (Prnewswire)

Blockchain privacy protection solution Blokid completes US$1.25 million in seed round financing, led by AppWorks

Blockchain-driven privacy protection solution Blokid announced the completion of a US$1.25 million seed round of financing, jointly led by AppWorks and Ascend Vietnam Ventures. The company was established in July 2023 and is currently focusing on tailoring blockchain time for the digital advertising industry. Stamp-driven security service that helps brands and institutions verify their assets using advanced technology. (Asiatechdaily)

Bitcoin L2 stablecoin protocol Bmaker has completed $1.2 million in pre-seed financing

Bmaker, the over-collateralized stablecoin protocol for Bitcoin Layer 2, has completed its pre-seed financing of US$1.2 million, led by C3u Capital and Tangle Capital; several other capitals, including Waterdrop Capital, have confirmed their intention to invest in the seed round.

The Bmaker team developed the first Bitcoin second-layer over-collateralized stablecoin protocol, benchmarking Ethereum leader MakerDao, hoping to provide more liquidity for the BTC ecosystem. The project will conduct the first issuance of multi-chain IDO on February 2 to enhance The number of early currency holders.

Delegate Labs completes US$9 million in seed round financing, with participation from Electric Capital and others

Delegate Labs, the team behind the security protocol Delegate, announced the completion of a US$9 million seed round of financing, with participation from Electric Capital, Arca, Variant and Arrington Capital. This round of financing will be used to fund the Web3 domain name protocol Clusters, which aims to solve address fragmentation, wallet Issues such as management complexity and domain name preemption. (Fortune)