According to incomplete statistics from Odaily, a total of 17 domestic and overseas blockchain financing events were announced from November 27 to December 3, an increase from last week’s data (13 cases). The total amount of financing disclosed was approximately US$320 million. Thats up sharply from last weeks figure ($93 million).
Last week, the project that received the most investment was Wormhole, a developer platform focusing on inter-blockchain communication (USD 225 million); the Layer 2 project Parallel Finance also attracted a certain amount of attention (USD 30 million) with its eye-catching lineup of investors. .
The following are specific financing events (Note: 1. Sorted according to the announced amount; 2. Excludes fund raising and mergers and acquisitions; 3. *Represents companies in the traditional field where some of the business involves blockchain):
On November 29, Wormhole, a developer platform focusing on inter-blockchain communication, announced the successful completion of a new round of financing of US$225 million, valuing the company at US$2.5 billion. This round of financing attracted participation from investment institutions such as Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, and Arrington Capital. With the injection of funds, Wormhole also announced the establishment of Wormhole Labs, aiming to promote the development and application of cross-chain technology.
Since its founding in 2021, Wormhole has become the core infrastructure for many major blockchains and projects, processing more than $35 billion in cross-chain fund transfers and more than 750 million cross-chain messages.
ParaX announces rebranding as Parallel Finance and has raised over $30 million so far
On November 30, according to official news, Web3 super application ParaX has now rebranded as Parallel Finance. During the transition to Parallel Finance, the application and smart contracts will remain unchanged and users will not need to migrate any assets.
In addition, officials stated that it has raised more than $30 million in financing from institutions such as Sequoia Capital, Polychain, Blockchain Capital, Coinbase Ventures, and Founders Fund.
On November 28, Web3 entertainment company AnotherBall completed a $12.7 million seed round of financing, led by ANRI and Hashed, with participation from Global Brain, Globis Capital Partners, Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote and Crunchyroll founder Kun Gao. . This brings the company’s total funding to $14.8 million.
It is reported that AnotherBall has been actively participating in technology projects such as Ailis and SAI by IZUMO. AnotherBall is currently developing a platform designed to enable global creators to connect with fans and monetize their content. A beta version of the platform is planned for Q1 2024 (January-March), with a full public launch expected later this year.
DeFi revenue platform Coinchange raises US$10 million, led by G 1.VC, Spirit Blockchain and others
On November 29, DeFi revenue platform Coinchange announced a $10 million financing, led by G 1.VC, Spirit Blockchain, Good News Ventures, K 2.CA and Atoia Ventures, with participation from Mintfox. The new financing will be used to expand its business and services while attracting new customers.
On November 30, decentralized physical infrastructure (DePIN) provider Grove (formerly Pocket Network) raised $7.9 million from Fidelity’s Avon Ventures, Placeholder Capital and Druid Ventures. Grove will use the funding to build new partnerships and drive DePIN towards mainstream adoption.
Grove provides Web3 infrastructure for building products and services on its POKT network, which supports over 40 different chains.
On November 29, Mummolin, the parent company of decentralized Bitcoin mining pool OCEAN, announced the completion of a $6.2 million seed round of financing, led by Jack Dorsey, with participation from Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital and Bitcoin Opportunity Fund.
Web3 consumer application Setter completes $5 million in seed round led by a16z
On November 28, Web3 consumer application Setter completed a $5 million seed round of financing, led by Andreessen Horowitz (a16z), with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures and retired tennis superstar Serena Williams. The app plans to help brands innovate ways to promote exclusive products and provide customers with limited-edition products.
It is reported that Setter aims to solve the complexity and unfriendly nature of current wallet technology and provide more users with a more seamless Web3 experience. Setters initial focus is on partnerships with streetwear and sneaker brands with the goal of expanding into the fashion, luxury and consumer collectibles sectors.
Perpetual contract exchange MYX completed a US$5 million seed round of financing, led by HongShan
On November 28, MYX, a decentralized perpetual contract exchange incubated by D 11 Labs, announced the completion of a US$5 million seed round of financing at a valuation of US$50 million. This round of financing was led by HongShan (formerly Sequoia China), with Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti 5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures and others participated in the investment. The funds raised in this round will be used to accelerate MYX’s technological innovation and market expansion, and promote the rapid launch and large-scale development of its mainnet products.
MYX is a decentralized perpetual contract exchange that uses an original MPM mechanism to achieve zero slippage transactions and efficiently matches long and short positions, making capital efficiency up to 125 times. It is committed to breaking through the bottleneck of capital efficiency on the chain.
On November 30, DeFi protocol Term Structure completed a $4.25 million seed round of financing, led by Cumberland DRW, with participation from Decima Fund, HashKey Capital, Longling Capital and MZ Web3 Fund. To date, Term Structure has raised $8 million in total funding. Term Structure Protocol has been launched on the Ethereum Goerli test network.
Accreal completes US$3.85 million in seed round financing, with participation from Alchemy Ventures
On November 29, crypto-financial operating system company Acctual completed a $3.85 million seed round of financing, with participation from Alchemy Ventures, OrangeDAO, Soma Capital, Messari founder Ryan Selkis, Nium founder Prajit Nanu and others. Accreal will provide crypto startups with billing management software to ensure payments are made to the correct vendor or crypto wallet address, monitor and approve invoices, and sync crypto invoices and payments to Quickbooks or Zero to reduce fraud and spam.
On November 28, Wind, a Singaporean remittance company based on the Polygon blockchain, announced the completion of a US$3.8 million Pre-Seed round of financing, led by Global Founders Capital and Spartan Group, with participation from Saison Capital, Alumni Ventures and Tiny VC.
According to reports, Wind is a non-custodial wallet, which means that the company does not hold customer funds and allows users to manage their own assets. It charges less than 0.3% of the value of users’ transactions. Since its inception in 2022, Wind has closed nearly $3 million in transactions. In September, it also received a grant from the XRP Ledger accelerator program launched by Tenity and Ripple.
Polygon-based fan engagement platform MITH raises $3.5 million in funding
On November 28, MITH, a fan engagement platform based on the Polygon blockchain, announced the completion of a US$3.5 million seed round of financing, led by Point 72 Ventures and A+E Networks, and joined by Warner Music Group, CMT Digital, Winklevoss Capital, Synergis Capital, and Near Foundation. , 4 RC and Alpha Praetorian Capital participated in the investment.
On December 1, Web3 Labs, a one-stop portal for Web3 entrepreneurship, announced that it had received more than US$2 million in strategic investment, with participation from Foresight Ventures, VCB Technology, Waterdrip Capital, Cipholio Ventures, NextGen Venture Partners, and Qtum Foundation.
Crypto tax company Waltio completes nearly $2 million in funding
On November 27, crypto tax company Waltio announced the completion of €1.8 million in financing (approximately US$1.97 million), with participation from angel investors such as Crédit Agricole Capital Développement, Stake Capital founder Julien Bouteloup, and Budget Insight co-founder Clément Coeurdeuil.
On December 1, DID developer Gataca completed a $1.41 million (€1.3 million) financing with participation from Signature Ventures and SBXi. The financing will be used for the companys business development.
Web3 video streaming platform Rad completes new round of financing, led by Ayre Ventures
On November 28, Web3 video streaming platform Rad completed a new round of financing, led by Ayre Ventures. The specific financing amount has not yet been disclosed. Rad also announced that it has incorporated the use of the BSV blockchain into its transactional video on demand (TVOD) and open or limited edition NFT video publishing and purchasing processes. Additionally, Rad integrates with mobile and web wallet HandCash, allowing users to connect to apps, games and websites to stream funds directly to help facilitate payments. Users can create and purchase content on Rad without the need for browser plug-ins, and the company can expand to other payment forms.
Currently, Rad supports PlayStation 5, PSVR, Oculus Quest, iOS, Google TV and other devices.
On November 29, Web3 social data protocol Inspect announced the completion of a new round of financing, with participation from Dewhales, BasementDAO, Morningstar Ventures, Kairon Labs, Optic Capital, Rarestone Ventures, Maven Capital, etc. The specific amount has not yet been disclosed.
According to reports, Inspect is transforming dynamic markets into user-friendly platforms equipped with real-time analytics and insights that are accessible to everyone. The official also reminded that there is currently no authorized $INSP contract.
