According to incomplete statistics from Odaily Planet Daily, there were 25 blockchain financing events announced at home and abroad from October 28 to November 3, an increase from last weeks data (22 events). The total amount of financing disclosed was approximately US$175 million, an increase from last weeks data (US$100 million).
Last week, the project that received the most investment was blockchain solar energy company Glow ($30 million); followed by privacy-focused computing network Nillion ($25 million).
The following are specific financing events (Note: 1. Sort by the amount of money announced; 2. Excludes fund raising and MA events; 3. * indicates a traditional company whose business involves blockchain):
On October 31, blockchain solar energy company Glow completed a $30 million financing led by Framework and Union Square Ventures. The company currently operates a DePIN network consisting of solar power plants in the United States and India. It plans to use this funding to expand the company from 5 megawatts of power to 600 megawatts and expand to new countries in the next 18 months.
On October 30, the privacy-focused computing network Nillion announced the completion of a new round of financing of $25 million, led by Hack VC, with participation from Arbitrum, Worldcoin, Sei, and a group of venture capitalists and angel investors. So far, its total financing has exceeded $50 million. At this stage, Nillion has reached cooperation with many well-known blockchain projects in the crypto industry, including NEAR, Aptos, Arbitrum, Mantle, IO.net, Ritual, etc., and has more than 40 ecosystem builders in the ecosystem.
Ellipsis Labs Completes $20 Million in New Funding, Haun Ventures Joins
On November 1, Ellipsis Labs announced the completion of a new round of financing of $20 million, with participation from Haun Ventures, aiming to accelerate the launch of Atlas, a second-layer blockchain focused on verifiable finance. Haun Ventures said that this round of financing is a fast follow-up to Ellipsis Labs $20 million Series A financing in April.
Bitcoin Rollup Project Citrea Completes $14 Million Series A Funding, Led by Founders Fund
On October 31, Bitcoin Rollup project Citrea announced the completion of a $14 million Series A financing round, led by Peter Thiels Founders Fund, with participation from angel investors such as Erik Voorhees and Balaji Srinivasan. Citrea aims to use zero-knowledge (ZK) technology to transform Bitcoin into a programmable asset, introducing smart contract functions similar to Ethereum. It is reported that Citrea uses the BitVM computing model to make it compatible with the Ethereum Virtual Machine (EVM), allowing applications on Ethereum to be deployed on Citrea without modification.
Smart contract automation network Gelato completes $11 million Series A+ financing, led by Hack VC
On October 28, Gelato, which focuses on smart contract automation networks, announced the completion of a $11 million Series A+ round of financing, led by Hack VC, with participation from Animoca Brands, IOSG Ventures and Bloccelerate VC. The new financing brings Gelatos total financing to $23 million.
AI data collection company Sapien completes $10.5 million seed round led by Variant
On October 30, AI data collection company Sapien completed a $10.5 million seed round of financing, led by Variant, with participation from Primitive Ventures, Animoca, Yield Game Guild and HF 0. Sapien uses USDC stablecoin or reward points system to incentivize data providers. It is reported that angel investors such as YGG founder Gabby Dizon and SoftBank Vision Fund alumnus Kevin Jiang also participated in this seed round of financing.
On October 28, according to official news, the Bitcoin native stablecoin project bitSmiley announced the completion of a second round of financing of US$10 million. This round of financing attracted a number of well-known investment institutions including MH Ventures and Skyland Ventures, which will provide strong support for bitSmiley to expand the liquidity and application scenarios of Bitcoin in decentralized applications.
On October 29, Bitcoin liquidity staking platform PumpBTC announced the completion of a $10 million seed round of financing, led by SevenX Ventures and Mirana Ventures, with participation from well-known institutions such as UTXO and Mantle Ecosystem Fund, and attracted many industry partners such as Quantstamp and Veda.
Spire Labs Completes $7 Million Seed Round Led by Maven 11 Capital and Anagram
On October 31, Spire Labs, an Ethereum expansion infrastructure startup, completed a $7 million seed round of financing, led by Maven 11 Capital and Anagram, with participation from a16z Crypto Startup Accelerator, Digital Currency Group, Bankless Ventures, Volt Capital, and Finality Capital. Kaito Yanai, co-founder of Spire Labs, said the company started raising funds for the seed round in June and completed the financing earlier this month.
Alliance Games Completes $5 Million Series A Funding, Led by Animoca Brands and Asymm Ventures
On October 31, according to official news, Alliance Games completed a US$5 million Series A financing round. This round of financing was led by Animoca Brands and Asymm Ventures, and participated by The Spartan Group, Dialectic, Kyros Ventures, Coin 98 Ventures and investors Loi Luu (co-founder of Kyber Network) and Sebastien (co-founder of The Sandbox). Together with its previous seed round of financing, Alliance Games total financing amount reached US$8 million.
On October 31, Web3 game studio 81 Ravens completed a $4.5 million financing, led by Gree Ventures and Digital Hearts Holdings. 81 Ravens is located in Singapore and is the developer of the Solana chain 3v3 arena shooter game Paravox, which is currently in the global public Alpha testing phase.
On November 1, OpenOrigins, a blockchain software company that combats deep fakes, announced that it had completed a $4.5 million financing round led by Galaxy Interactive. The new funds will be used to expand its business team and recruit in the United States.
On November 1, security protocol Phylax Systems completed a $4.5 million seed round of financing. This round of financing was led by Nascent and Figment Capital, and other investors included: Robot Ventures, Hash 3, Bankless Ventures, Breed VC, Public Works, Banteg, Hari Mulackal, Laurence Day, Ryan Lackey, Nic Carter, Nader Dabit, Eric Wall, etc.
Solana Scaling Infrastructure Developer Nitro Labs Completes $4 Million Seed Round Led by Lemniscap
On October 31, Nitro Labs, the team behind Solana’s scaling infrastructure platform Termina, announced the completion of a $4 million seed round of financing led by Lemniscap, with participation from Animoca Ventures, Borderless Capital, Finality Capital, Race Capital, No Limit Holdings, Solana Foundation, Jump Crypto and Spartan as well as several angel investors.
Hana Network completes $4 million in financing, Orange DAO and others participate
On October 28, Hana Network, the company behind Hypercasual Finance, announced the completion of a new round of financing of US$4 million, with participation from Sushiswap, Alliance and Orange DAO. The valuation of this round of financing has not yet been disclosed. It is reported that Hana Network aims to become a gateway for novices to enter cryptocurrency by combining blockchains P2P transactions and communications with existing social network effects.
On October 31, Magma, the liquidity pledge protocol of the Monad ecosystem, announced the completion of a US$3.9 million seed round of financing. Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise 3 Ventures, Stake Capital, Relayer Capital and others participated in the investment. It is reported that Magma is building MEV-based liquid pledge on Monad.
Crypto insurance broker Native receives $2.6 million in seed funding led by Nexus Mutual
On October 29, crypto insurance brokerage Native received $2.6 million in seed funding led by Nexus Mutual. Native will provide $20 million in on-chain insurance and operate a capital pool on Nexus Mutual. Nexus Mutuals insurance alternative is also available through a product called Base DeFi Pass through many major protocols on the Coinbase Layer 2 network.
On October 31, the verifiable autonomous agent network Axal announced the completion of a $2.5 million Pre-Seed round of financing, led by CMT Digital, with participation from a16z Crypto Startup School, Escape Velocity, IDG Vietnam, Artichoke Capital, Trident Digital, Blockchain Builders Fund, Blockhunters Group, Echo and Mentat Group, as well as angel investors such as Rushi Manche, Darius Rugys and Comfy Capital. As part of the Movement Labs Move Collective accelerator program, Axal plans to be deployed on the Movement main chain at launch and will support Movement DeFi applications such as Meridian and Echelon through verifiable agents.
Web3 gaming social platform LOScoin completes $2 million in financing, led by Solana Foundation
On October 28, LOScoin, a Telegram Bot Web3 gaming social platform based on Solana chain, announced that it had successfully completed a $2 million financing. This round of financing was led by the Solana Foundation, and well-known institutions such as CMS Holdings, Impossible Finance, Yield Guild Games (YGG) and Monad participated in the investment. LOScoin project token LOS will be issued on Solana chains innovative protocol launch platform AI_MINT, and has received strong support from AI_MINT CEO Keone Hon.
On October 29, the stablecoin project CAP Labs announced on X that it had completed a $1.9 million Pre-Seed round of financing, with participation from Kraken Ventures, Robot Ventures, ANAGRAM, ABCDE Labs, SCB Limited and others.
CAP Labs is building a scalable crypto-native stablecoin that provides users with a variety of crypto-native returns, including MEV, arbitrage, and other types of returns. Its mainnet is scheduled to go live in the first quarter of 2025.
On October 29, Web3 open software library KRNL Labs completed a $1.7 million Pre-Seed round of financing, with participation from TRGC, Superscrypt, Ryze Labs, Builder Capital, Blockchain Founders Fund, WAGMi Ventures, STIX, YAP Capital and several strategic angel investors.
On November 2, Tharawat Green Exchange, a Web3 provider based in Saudi Arabia, completed a $450,000 financing round, with participation from Web3 and blockchain investment fund Adaverse. The project is committed to using blockchain technology to achieve environmental sustainability in line with Saudi Vision 2030. The new funds will be used to support infrastructure and blockchain development, strengthen sales and marketing, and help its carbon credits obtain Vera certification.
Solana Ecosystem Project Streamflow Completes a New Round of Strategic Financing, Led by John Lilic
On October 28, Solana ecosystem project Streamflow completed a new round of strategic financing, led by John Lilic, with participation from Jump Crypto, Solana Ventures, IVC, GBV, Genblock, Hypersphere, Amber, VentureDAO, T3E, Huobi and Primeblock, as well as a group of angel investors. Streamflow is a comprehensive digital asset management infrastructure company dedicated to promoting the development of token-based economies on the chain.
On October 29, community-oriented Web3 content platform Libraro announced the completion of its seed round of financing (Phase I), led by Ayre Ventures. The specific amount of financing and valuation information have not been disclosed. The new funds will be used to expand its Web 3 loyalty program and on-chain author identity functions, prevent copyright infringement, and increase transparency of content ownership and distribution rights.
On November 1, on-chain game developer Delabs Games announced the completion of a new round of strategic financing, with TON Ventures participating. The specific amount of financing and valuation information have not been disclosed yet. The new funds will be used for the growth of Delabs Games and to deploy its game projects on the TON blockchain.
