Crypto Deal Flow: May 1–6
Let’s research activity of crypto funds, private investors and crypto startups for first week of May. Our Radar system detected 45 deals.
- Bondly | undiscloused sum | OKEx Blockdream Ventures | strategy round
Bondly is now aiming to accelerate its growth with securing an investment from OKEx Blockdream Ventures. This investment will help fast-track growth in the NFT ecosystem and bring support to three key areas: Bondly Launchpad, NFT technology exploration, and IP cooperation via the BondProtect Marketplace.
2. Burnt Finance | $3m | Injective Protocol, Multicoin Capital, Mechanism Capital and others | private round
Burnt Finance has raised $3m from Injective Protocol, Multicoin Capital, Mechanism Capital and others to build a NFT platform on the Solana blockchain. Alameda Research, the prodigious Solana backer helmed by Sam Bankman-Fried, was also involved in the funding round.
3. Showtime | $7.6m | Paradigm and DJ 3LAU | private round
Crypto investment firm Paradigm and DJ 3LAU are involved in a $7.6m funding round for non-fungible token (NFT) social network Showtime.
Hypersign — a simple-to-use authentication solution that secures user data by combining Digital Identity with Blockchain. ExNetwork Capital invests in Hypersign.
5. Exodus Movement | $75m | STO
Exodus Movement, Inc. (Exodus Wallet: EXIT), a Delaware corporation that has developed a leading non-custodial cryptocurrency software platform, closed its offering of Class A common stock under Regulation A on May 5, 2021. Exodus public offering raises $75m.
6. Coin Metrics | $15m | Goldman Sachs, BlockFi, Acrew Ventures and others | series B round
Cryptocurrency analytics firm Coin Metrics has raised $15m in funding led by Goldman Sachs. BlockFi, Acrew Ventures, Morningside Group and Warburg Serres Investments also joined the funding round. While Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency each increased their respective stakes in the company.
7. Lido Finance | $73m | Paradigm, Coinbase Ventures, Three Arrows Capital and others | private round
Ethereum 2.0 (Eth2) staking protocol Lido Finance has raised $73m in fresh funding. The funding was led by crypto venture capital firm Paradigm, which bought $51m worth of LDO tokens from LidoDAO’s treasury by paying the amount in 15,120 ether (ETH). The rest of the amount, i.e., $22m, was contributed by a range of investors, including Coinbase Ventures, Three Arrows Capital, Jump Trading, Alameda Research, Digital Currency Group, and several others.
8. RTFKT | $8m| A16Z crypto,Mike Novogratz’s Galaxy Digital, Ledger and others | seed
RTFKT is born on the blockchain to ensure authenticity, ownership and grant access to new experiences. Project raised $8m in seed funding led by A16Z crypto. Other participants in the round included Mike Novogratz’s Galaxy Digital, Ledger, Dapper Labs CEO Roham Gharegozlou, Hong Kong billionaire Adrian Cheng’s C Ventures, Shrug Capital, NFT artist Fewocious, Genie founder Akash Nigam, Mantis VC and others.
9. Multicoin Capital | $100m | new fund
Crypto venture firm Multicoin Capital has announced a new fund worth $100m. The fund would invest in DeFi, NFT, and other crypto projects.
10. SportsIcon | undiscloused sum | Roham Gharegozlou, Nas, Andrew Bogut and others | private round
SportsIcon aims to deliver value via sports-focused NFTs, with direct collaboration with athletes and lessons from the pros to accompany the one-off digital collectibles. SportsIcon has backing from Roham Gharegozlou, the CEO of Dapper Labs, which was at the very forefront of the NFT craze and which powers NBA Top Shot. It’s also funded by rapper Nas (whose portfolio includes a number of prescient early bets), former NBA player Andrew Bogut, Eniac Ventures’ Partner Nihal Mehta and more.
11. Drops | $1m | Axia8 Ventures, Bitscale Capital, Blocksync and others | private round
Drops, a groundbreaking project that unlocks additional value for nonfungible tokens, closed $1m round from private investors. This funding round was led by Axia8 Ventures, Bitscale Capital, Blocksync, AU21, X21, D64 Ventures, Genblock and Drops Ventures. The successful round of funding builds on Drops’ network of strategic partners, which include Polkastarter, Quantstamp, 0xb1, Kyros Ventures, Zokyo, PetRock Capital and BlockStar Technologies.
12. NFTify | $2.1m | Icetea Labs, Master Ventures, M6 and others | seed, private round
NFTify (N1), an NFT e-commerce marketplace, has closed a $2.1m seed and private financing round led by Icetea Labs with the support of an impressive roster of blockchain investors including Master Ventures, M6, Moonrock Capital, Morningstar Ventures, X21 Digital, AU21 Capital, DFG, Exnetwork Capital, Lotus Capital, Titan Ventures, and Spark Capital, Magnus Capital, DAO Maker, Inclusion Capital, Chain Capital, Vendetta Capital, FomoCraft, Blocksync Ventures, GD10 Ventures, Das Kapital, Catena Venture Capital.
13. Genies | $65m | Mary Meeker’s Bond Capital, Dapper Labs, Polychain and others| series B round
A startup that brings flair to your online persona has raised $65m — with notable participation from some of crypto’s rising stars.The Series B for Genies was led by Mary Meeker’s Bond Capital with participation from Dapper Labs, Polychain, Coinbase Ventures, Hashkey and others.
14. MILC | $4.275m | Master Ventures, X21 Digital, Titans Ventures and others| private round
MILC, video platform with blockchain and AI technologies, has announced the successful closure of MLT private sale round with a total funding of $4.275m backed by Master Ventures, X21 Digital, Titans Ventures, Wings Ventures, Three M Capital, Peech Capital, Sky Ventures, Moonboots Capital, Tenzor Capital, BMW Capital.
15. Mercurial Finance | undiscloused sum | Alameda Research, Solana Ecosystem Fund, OKEx and others| private round
Mercurial Finance is building DeFi’s first dynamic vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets. Project raised funds from Alameda Research, Solana Ecosystem Fund, OKEx, Huobi and private investors.
16. Picknode | $700k | Astronaut Capital, Moonrock Capital, Petrock Capital and others | private round
Picknode, the gateway to Polkadot ecosystem, raised $700k from Astronaut Capital, Moonrock Capital, Petrock Capital, Momentum 6, X21 Digital, Signum Capital, Faculty Capital, Digital Strategies, AU21 Capital, White Palm Ventures, Das Kapital and Eric Wang from Parity Technologies.
17. X World Games | $1.2m | NGC Ventures, PreAngel Fund, FBG Capital and others | private round
X World Games, virtual metaverse with NFTs, raised $1.2m from NGC Ventures,PreAngel Fund, FBG Capital, LongLing Capital, SNZ, Chain Capital, Moonwhale ventures, BTX Capital, CryptoDiffer, Lanlaxy Group, Catcher VC, Kyros Ventures.
18. Fantom | $15m | HyperChain Capital | strategy round
HyperChain Capital, a leading digital assets management company focused on blockchain projects and decentralized protocols, has acquired an additional $15m stake in the Fantom ecosystem through the purchase of FTM, the platform native token.
19. SakePerp.fi | $3m | GBV, CMS, Future Fund and others | strategy round
SakePerp.fi is perpetual contract protocol built on the Binance Smart Chain (BSC) with an automated market-making (AMM) model. Project has successfully closed a $3m fundraising round. Participating investors include GBV, CMS, Future Fund, Longling Capital, MGNR, Digital Renaissance Foundation, and others.
20. Manifold Finance | $2.5m | P2P.org and Marshland Capital, Ascensive Assets and others | private round
Manifold Finance provides multi protocol middleware solutions for trade execution infrastructure and on-chain protocol extensions. Project has secured funding of $2.5m through a strategic investment round. The funding round was led by P2P.org and Marshland Capital. It was also supported by Ascensive Assets, Genesis Block Ventures(GBV), Moonrock Capital, Spark Digital Capital, Magnus Capital, Rarestone Capital, Vendetta and Skynet Trading.
21. PERI Finance | $4.7m | LD Capital, PrivCode, OneBlock and others | seed, private round
PERI Finance, a decentralized cross-chain synthetic asset issuance and derivative exchange protocol, announced its 2nd round of fundraising. Its seed investment, which led by LD Capital, PrivCode, OneBlock, Ruby Capital, Dasheng Capital, Momentum 6, and others, was closed within 2 days from opening. Its added investors and partners are Ramprate, CoinUnited Capital, 18 Ventures, Deep Ventures, CryptoRevolution, Dextforce Ventures, Quiverx, CSP DAO, MoonWhale Ventures, DuckDAO, Gate.io, Blackdragon Capital, Blocksync, HOT Labs, HIM Capital, Avalon ealth Club, Fermion Capital and others. The total amount raised is $4.7m.
Gaming-focused venture capital fund Bitkraft Ventures has partnered with crypto industry research firm Delphi Digital in order to invest in related projects. The collaboration will allow Bitkraft to increase its focus on investments in firms that use blockchain technology in addition to crypto assets and economics.Bitkraft was founded in 2015 and has more than $400m in assets under management with more than 50 investments in companies such as Epic Games, BitFry, and Fuze TV. In August 2020, the company raised $165m to invest in digital gaming and e-sports and it is now betting big on crypto and blockchain.
Inverse Finance’s governance has approved a proposal to buyout Tonic Finance in a $1.6m deal that will bring Tonic under Inverse’s umbrella.
P2P marketplace Cryptolocally has launched the CryptoLocally African Academy after acquiring Finance Bridge Academy, a fast-growing online trading school.
DeFi project Rabbit Finance and crypto exchange BKEX created a special fund to provide a flexible way for users to participate in DeFi projects.
26. Solana | $1m | hackathon
Solana is planning hackathon “Solana Season Hackathon”. Running May 15 — June 7. Up to $1m in prizes/seed funding.
27. Binance Charity | $200k | charity
Binance Charity have so far located 175 oxygen connectors in available stock in Asia, cost roughly $200k. The will help fight India with COVID-19.
28. Phuture | $1.5m | NGC Ventures, SevenX, Moonrock Capital and others | seed, private round
Phuture, a decentralised protocol built for the creation and investment of passive index strategies in a Web3 environment, has completed its private seed round fundraise. The round, led by Ascensive Assets, raised a total of $1.5m. The round included several prominent blockchain investors, including: NGC Ventures, SevenX, Moonrock Capital, Origin Capital, Waterdrip Capital, and D64. Other backers included Genblock Capital, Decentralabs, Synergia, Vendetta Capital, Richard Ma (CEO of QuantStamp), Danish Chaudry (CEO of Bitcoin.com Exchange), and leading liquidity provider Skynet Trading.
29. RegTech | $31.5m | MAS | grant
Monetary Authority of Singapore (MAS) will provide S$42m (about $31.5m) to Regulatory Technology (RegTech) the Digital Acceleration Grant (DAG). Grant could impact the cryptocurrency sector, particularly in the compliance regime, even though the fund is not directly focused on cryptocurrency.
30. INX | $85m | STO
Digital securities and cryptocurrency trading platform INX raised $85m following the IPO of its Ethereum tokens (registered with the SEC). More than 7,200 retail and institutional investors from 75 countries took part in the placement.
31. Qredo | $11m | G1, Gumi Cryptos, Maven 11 and others | seed
Qredo, a new decentralized digital asset management infrastructure & product suite, closed an $11m seed round led by a diverse group of investors including G1, Gumi Cryptos, Maven 11, Spartan Group, 1kx, and Kenetic. The full group of investors includes Amnis Ventures, Artus, Borderless Capital, Celsius, CMS Holdings, Connect.Capital, Deribit, GSR, Kronos, Quantstamp, Q-Stone Partners, SVK Crypto, Tokentus, 3commas, Wintermute, Yellow, and Zhou Holdings.
32. DeSpace | undiscloused sum | Exnetwork | strategy round
DeSpace Protocol is a new breath of the DeFi industry supporting multi-layer tokens and NFT cards, combined Governance (DAO), redesigned Yield Farming and NFT Mining. Exnetwork invested in DeSpace.
33. Bitski | $19m | a16z | series A round
Bitski lets creators, brands, and platforms easily create, sell, and purchase NFTs — no crypto deep dive required. a16z crypto is leading Bitski’s $19m Series A.
34. Lossless | $1m | Dao Maker and others | private round
Lossless is world’s first crypto hack mitigation tool for trusted and safe DeFi. Project raised $1m during a funding round led by Dao Maker, other known VCs and high exposure KOLs in the space.
35. Formation FI | $3.3m | Bancor, Synthetix, Polygon and others | strategy round
Formation FI platform for decentralized financial protocols completes “strategic sale” round with $3.3m raised. The round was fueled by DeFi “blue chips” teams Bancor (BNT), Synthetix (SNX) and Polygon (ex-Matic Network). It also involves top-notch blockchain-focused VC funds, including Kenetic, Kosmos, Spark Digital Capital, AU21, X21 Digital, Momentum 6, GenBlock, GBV Capital, Shima Capital and Brilliance ventures.
Blockchain powered content delivery 1World Online acquired BA SalesManager, a global IT software development company focused on deep tech and emerging.
37. Safello | $59m | IPO
Swedish crypto broker Safello announced that its initial public offering (IPO) has been oversubscribed by 1,240%.Safello had 40.5 million Swedish kronor (around $4.8m) worth of new shares on the offer through the IPO, but it received bids for 502 million kronor ($59m) worth of shares. The listing is now expected on May 12 under the ticker SFL.
38. BitGo | $1.2b | Galaxy Digital | acquisition
Galaxy Digital is a financial services and investment manager in the blockchain and cryptocurrency space led by Mike Novogratz. BitGo, a stalwart of the cryptocurrency industry, is an independent digital assets infrastructure provider. Galaxy Digital Holdings Ltd. has signed a deal to acquire BitGo for $1.2b in cash and stock. BitGo shareholders will receive 33.8 million shares of Galaxy Digital in addition to $265 million in cash.
39. pNetwork | undiscloused sum | Algorand Foundation| grant
pNetwork has received a grant from the Algorand Foundation for creating a pNetwork-powered bridge for Algorand to be connected with external assets and ecosystems.
40. Vesper Finance | Blockforce | new fund
Vesper Finance joins forces with Blockforce to create DeFi Fund.
41. Plutus | $5m | Alphabit | strategy round
Plutus is the bank on crypto.The team announced that Alphabit, a prominent digital asset fund, has inked a deal to acquire a further stake in the Pluton (PLU) token, with a combined holding that will surpass $5m worth of PLU.
42. Streami | undiscloused sum | Digital Currency Group | strategy round
Digital Currency Group, the venture capital firm behind some of the biggest companies in blockchain, has become the second-largest shareholder of Streami, a leading cryptocurrency exchange operator in South Korea.
43. Moma | $2.25m | Fundamental Labs, SevenX Ventures and others | private round
Defi startup Moma Protocol has completed a private funding round to create a decentralized liquidity solution that aggregates multiple markets. Fundamental Labs and SevenX Ventures led the $2.25m private round. AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, Consensus Investment, DFG Capital, FBG Capital, Finlink Capital, Lotus Capital, Magnus Capital, Moonrock Capital, and many more investment firms also took part.
44. VanEck | ETF
VanEck has released the first exchange-traded fund in the EU that offers exposure to companies working with blockchain and crypto. The company now offers its customers to bet on its new product, the VanEck Vectors Digital Assets Equity UCITS ETF (DAPP). It has been listed on the London Stock Exchange and Deutsche Boerse.
45. KnitFinance | $1m |DAO Maker, AU21 Capital, LD Capital and others | private round
KnitFinance, the first Polkadot-based cross-chain asset wrapping protocol has successfully raised $1m from DAO Maker, AU21 Capital, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6, Bitcoin.com, pSquare Capital, Chronos Ventures.
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