Chainlabs Investment Research Weekly Report | There were 15 public financing events in the crypto market,

ChainlabsJun 11, 2024
Chainlabs Investment Research Weekly Report | There were 15 public financing events in the crypto market,

According to incomplete statistics from CoinVoice, more than 15 blockchain project financing cases were announced this week (June 3-June 7). The stablecoin protocol M^0 completed a $35 million Series A financing, led by Bain Capital, which was the largest financing event this week. Other popular projects include the data-centric blockchain network Glacier Network, MarketingFi and AI data layer Cookie3, modular blockchain project Nubit, etc. Compared with last week, the number of financings in the cryptocurrency investment and financing market this week has dropped significantly1. In the sub-sectors, the investment and financing amounts this week are concentrated in the infrastructure field and AI direction. The following is a list of financing events this week.

Modular blockchain project Nubit completes $8 million seed round of financing, led by Polychain Capital

Nubit, a modular blockchain project, announced on X that it has successfully raised $8 million in seed round financing, led by Polychain Capital. Other institutional investors include Nomad Capital, Spartan Group, L2IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca and Mask Network. So far, Nubit's total financing has reached $12 million.

NDUS Interactive, a developer of Sui ecological blockchain games, completes $7.5 million Series A financing, led by Hashed and others

NDUS Interactive, the developer of Sui ecosystem blockchain game Xociety, announced the completion of a US$7.5 million Series A financing round, led by Hashed and Sui Foundation, with participation from Spartan, Neoclassic, Big Brain Holdings and PUBG game publisher Krafton.

Sandbox Completes $20 Million in Financing, Led by Kingsway Capital

The Sandbox, a user-generated content metaverse platform, has raised $20 million in convertible debt, led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures, at a valuation of $1 billion. The noteholders can convert it into equity in Bacasable Global Limited on the same terms as existing preferred shares.

Mountain Protocol, the issuer of yield-based stablecoins, completes $8 million Series A financing

Mountain Protocol, the issuer of yield-based stablecoins, announced the completion of an $8 million Series A financing round, led by Multicoin Capital, with participation from Castle Island Ventures, Coinbase Ventures and other investors. Mountain Protocol is the issuer of USDM, a yield-based stablecoin "fully backed by U.S. Treasuries." (Theblock)

AI and blockchain B2B payment solution SmartLoC completes 180 euro financing, led by HTGF

SmartLoC, a blockchain and AI-based B2B payment solution, announced the completion of a €180 million financing round, led by High-Tech Gründerfonds (HTGF), with participation from Loggerhead Ventures, MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH and several angel investors. SmartLoC focuses on optimizing the way companies conduct financial transactions globally using technologies such as the Internet of Things, blockchain and artificial intelligence, and the new funds will accelerate its go-to-market strategy.

Glacier Network Completes $8 Million Financing with a $100 Million Valuation, Mask Network and Others Participate

Glacier Network, a data-centric blockchain network, announced that it has completed $8 million in angel and seed rounds of financing with a valuation of $100 million. ForesightX, UOB Venture Management, Laser Digital, Kucoin Ventures, Signum Capital, Cogitent Ventures, Gate Labs, Candaq Fintech Group, Open Digital Infrastructure Group, Mask Network, Dewhales Captial, DCI Capital, Polkastarter, Founderheads VC, Contribution Capital and Aza ventures participated in the investment.

NFT platform Stashh Labs completes $3.3 million in financing, with Shima Capital and others participating

NFT platform Stashh Labs announced the completion of a $3.3 million funding round, with participation from investors including Animoca, 6th Man Ventures, and Shima Capital. Stashh Labs will use the funds to further build an NFT platform for creators and collectors in various decentralized ecosystems, while also supporting the development of Stashh 2.0, expanding support for more blockchain ecosystems, onboarding more creators, and launching more messaging, games, and other social features on its platform.

Ethereum L2 Fhenix Completes $15 Million Series A Funding, Led by Hack VC

Ethereum L2 Fhenix announced the completion of a US$15 million Series A financing round, led by Hack VC, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures and Stake Capital. As of now, the company’s total financing has reached US$22 million. It is reported that Fhenix announced the launch of its open test network, named Helium (originally planned to be named Renaissance), allowing developers to deploy "confidential" smart contracts on the Fhenix Layer 2 network.

Fintech company Nium completes $50 million financing and plans IPO in the next 18 months

Fintech startup Nium said it has raised $50 million in new funding and plans to IPO in the next 18 months. The round was led by an undisclosed Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital and Tribe Capital. Nium's valuation was set at $1.4 billion in this round of financing, 30% lower than its $2 billion valuation when it raised funds in 2022.

Cookie3 Completes $5.5 Million Funding and Will Launch COOKIE Token on June 13

According to official news, MarketingFi and AI data layer Cookie3 announced the completion of $5.5 million in financing, including $3.3 million in seed and strategic rounds. Cookie3 raised $500,000 and $2.8 million in seed and strategic rounds, respectively. Investors in the seed round of COOKIE tokens include The Spartan Group, Baboon VC, GSR, Hartmann Capital and Poolside. Its $2.5 million strategic financing was led by Animoca Brands, and other strategic investors include Mapleblock Capital, Castrum Capital, Founderheads, Unreal Capital, Oddiyana Ventures, ChainGPT Labs, SkyVision Capital (SVC), New Tribe Capital, Undefined Capital and Kangaroo Capital. In addition, COOKIE tokens are Cookie ecosystem governance and utility tokens, which will be launched at 18:00 Beijing time on June 13.

Web3 network security company GoPlus raises $10 million from investors including OKX Ventures

Web3 network security company GoPlus has completed a $10 million private financing, with participation from OKX Ventures, HashKey Capital and Animoca Brands. GoPlus is building a permissionless, modular Web 3 security layer designed to integrate with any blockchain network to help architects improve user security and protect against network threats. To supplement the growth of its security layer, GoPlus also plans to launch a token that will be used primarily to pay for gas fees and incentivize developers to use GoPlus services.

Stablecoin protocol M^0 completes $35 million Series A financing, led by Bain Capital

Stablecoin protocol M^0 has completed a $35 million Series A financing round led by Bain Capital, with participation from Galaxy Ventures, Wintermute Ventures and GSR.

Digital coupon platform Mezzofy completes $2 million Pre-A round of financing, led by Isola Capital

Hong Kong digital coupon platform Mezzofy announced the completion of a US$2 million Pre-A round of financing, led by IPVF VII, a fund under Isola Capital, and participated by Ooosh Tech Lab and the Hong Kong government-backed Innovation and Technology Ventures Fund (ITVF). The company said it will use the funds to support its accelerated launch of Web3 products and plans to use big data, artificial intelligence and blockchain technology to make each digital coupon serialized and traceable.

AI and blockchain solution Play AI completes $4.3 million financing, with participation from P2 Ventures and others

Play AI, an artificial intelligence and blockchain solutions provider, announced the completion of its first round of financing of US$4.3 million, with participation from P2 Ventures, Jump Crypto, Alphage Ventures and MH Ventures. The investment aims to promote the application of artificial intelligence and blockchain in games and virtual reality. The new funds will be used to develop its AI decentralized technology, while using the blockchain decentralized network to improve transparency and encourage gamers to share data to train AI models.

Decentralized energy network Starpower completes $2 million Pre-Seed round of financing

According to TechFlow, the decentralized energy network Starpower has completed a $2 million Pre-Seed round of financing. Investors include Alliance, Arweave, IoTeX, Bas1s Ventures, etc. Angel investors include Max Jungreis, head of digital asset investment at Plug and Play, Shen Bo, founder of Fenbushi Capital, and Sal Gala, founder of Escape Velocity.

It is reported that Starpower uses the DePIN model to link energy and power equipment including air conditioners, batteries, electric vehicles, etc. to establish a dispatchable energy management network to improve electricity efficiency and reduce grid fluctuations, accelerating global energy transformation.

Everclear Completes $5 Million Funding by Selling NEXT Tokens to Pantera Capital

Connext, a blockchain interoperability platform, has announced that it is undergoing a strategic transformation, rebranding to Everclear, while also completing a $5 million funding round through the sale of NEXT tokens to Pantera Capital. In addition to the rebrand, the project is also developing a "clearing layer" for intent-based cross-chain bridges, solving challenges related to the rebalancing and settlement of intents. Everclear will serve as the new foundation of the modular stack, leveraging an open network of intent solvers and the Everclear Chain, an optimistic Rollup. The so-called clearing layer will serve as its own blockchain, acting as a backend liquidity platform to provide order matching services for intent-based cross-chain bridges.



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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