Crypto Deal Flow: May 27-June 10
Let’s research activity of crypto funds, private investors and crypto startups for last week. Our Radar system detected 67 deals.
- Snickerdoodle | $2.3m | Kenetic, Blockchain Capital, Struck Ventures and others | seed
Snickerdoodle aims to use non-fungible token (NFT) technology to build a platform that protects user privacy and data, was co-founded by PayPal’s former head of blockchain strategy Jonathan Padilla. Team raised $2.3m from lead investor Kenetic with participation from venture capital funds Blockchain Capital, Struck Ventures, Zilliqa Capital, FTX, Sam Bankman-Fried, Tribe Capital, and Zinal Growth.
2. DeFi11 | $3.5m | NonceBlox, Kyros Ventures, Ex Network and others | seed, private rounds
DeFi11, a leading DeFi gaming ecosystem, is proud to announce a successful $3.5m fundraise from NonceBlox, Kyros Ventures, Ex Networks, AU21 Capital, Fomocraft, Alphabit, Launchpool, TDeFi, Biconomy, MintedLab, Defied Bank, Magnus Capital, Dadventures, LVT Capital, Zokyo, Phoenix Crypto VC, Zero2Launch, BBS Finance, Trustdao Capital, ExNetwork, Synergia Capital, Propeller, Protocol Ventures, Block Chain Capital, Titans Ventures, O1ex, Empire Global Partners, GD10 Ventures, Global Block Ventures Capital, x21 and A195 Capital.
3. Pontem Network | $4.5m | Kenetic, Mechanism Capital, Delphi Ventures and others | seed
Pontem Network, a decentralized application that seeks to connect Facebook’s Diem to public blockchains like Ethereum, has raised $4.5m from over 30 notable investors, including Kenetic, Mechanism Capital, Delphi Ventures and Alameda Ventures.
4. Impossible Finance | $7m | True Ventures, CMS Holdings, Alameda Research and others | seed, private rounds
Impossible Finance is building out comprehensive DeFi incubator, launchpad and swap platform. Project raised over $7m from over 125 institutional and angel investors to redefine “launching” with the Impossible Decentralized Incubator Access (IDIA) token. The round was co-led by True Ventures, CMS Holdings, Alameda Research, and Hashed. Community of investors and supporters include Sino Global Capital, IOSG, Divergence, GBV, mgnr.io, Lemniscap, Primitive, Incuba Alpha, BR Capital, Coin98, Ternary Capital, The LAO, Maple Leaf Capital, Longhash, Bitscale, and others.
5. Sherlock | $1.5m | DEO CoLab Ventures, A.Capital Ventures, Scalar Capital and DeFi Alliance | preseed
Sherlock, a risk-analysis system for decentralized finance (DeFi), raised $1.5m in a pre-seed funding round. The fundraising was led by IDEO CoLab Ventures, with participation from A.Capital Ventures, Scalar Capital and DeFi Alliance.
6. Endaoment | $2.5m | Framework Ventures, Distributed Global, Station 13. DeFi Alliance and others | seed
Endaoment raised $2.5m in commitments as both charitable donations and equity investments from leading venture capital funds and angel investors. The round was led by Framework Ventures, with major support from Distributed Global and Station 13. DeFi Alliance, Chapter One, and several other prominent funds and angels.
7. Octane | $1.7m | 4SV, DuckDao, SkyBridge 20 Ventures and others | seed, private rounds
Octane is a fully decentralized rewarding limit order platform driven by network of executors built on Binance Smart Chain(BSC). Team raised $1.7m from 4SV, DuckDao, SkyBridge 20 Ventures, T3E, Legion Ventures, DCI, Caballeros Capital, OIG, Insignius Capital, X21 and Shinchan Group.
8. Sigmadex | $4.2m | LD Capital, Genesis Block Ventures, Moon Inc and others | private round
Sigmadex is decentralized perpetual liquidity protocol infused with game theory built on Substrate. Team raised $4.2m from LD Capital, Genesis Block Ventures, Moon Inc, PNYX Ventures, NGC Ventures, Rarestone Capital, SkyVision Partners, 3Commas, Spark Digital Capital, Marshland Group, Hillrise Capital, Deep Ventures, GD10 Ventures, DAO Maker, Shima Capital, One Block Capital, Signal Ventures, Exnetwork Capital, Kyros Ventures, AU21 Capital, Tenzor Capital, Lancer Capital, Titan Ventures, and many more.
9. Pandora Protocol | $2.4m | Genesis Block, Spark Digital Assets, AU21 and others | seed, private rounds
Pandora Protocol is a hybrid open finance solution for both traditional finance, and decentralized finance. By creating a bridge between real-world and on-chain assets, this protocol allows for the tokenization of illiquid assets — meaning they can be found, traded, and owned in a secure, decentralized way. Team raised $2.4m from Genesis Block, Spark Digital Assets, AU21, x21, NGC, Zokyo Ventures, Exnetwork, A195, Protocol Ventures, Genblock, Magnus Capital, Chain Asset Capital, Amesten, Crypto Dorm Fund, and Master Ventures, and accredited individual investors like Danish Chaudhari (Bitcoin.com) and others.
10. Hxro | $15m | Commonwealth Asset Management | strategic round
Crypto derivatives firm Hxro (built on Solana) has raised $15m in a token sale from hedge fund manager Commonwealth Asset Management.
11. ARCx | $1.2m | Dragonfly Capital, Scalar Capital and LedgerPrime | private round
ARCx develops DeFi Passports powered by your on-chain identity. Team raised $1.2m from Dragonfly Capital, Scalar Capital and LedgerPrime.
12. Balancer Labs | $24.25m | Balancer Protocol, Alameda Capital, Pantera Capital and others | strategic round
Balancer Labs has further partnered with some of the most respected investors in the cryptocurrency space who have shown their support of Balancer Protocol by extending $24.25m of capital to Balancer Labs. This new round of investors joins the likes of Alameda Capital and Pantera Capital, among others, to purchase BAL tokens directly from the Balancer Labs treasury. Additional backers are Blockchain Capital, Fintech Collective, LongHash Ventures, Fenbushi Capital, Continue Capital and angels.
13. Lithium Finance | $5m | Pantera Capital, Hashed and others | seed
Lithium Finance completed a $5m seed round led by Pantera Capital and venture capital firm Hashed to fund the creation of a collective-intelligence pricing oracle for publicly unavailable assets. Alameda Research, Huobi Ventures Blockchain Fund and OKEx’s Blockdream Ventures also participated in the round, as did NGC Ventures, LongHash Ventures and Genesis Block Ventures.
14. Composable Finance | $7m | Advanced Blockchain AG, Rarestone Capital, Divergence Ventures and others | strategic round
Composable Finance is a hyper liquidity infrastructure layer for DeFi assets powered by Layer 2 Ethereum and Polkadot. Team raised $7m from lead investors Advanced Blockchain AG and Rarestone Capital with participation from Divergence Ventures, New Form Capital, DFG, Maven 11, 4SV, Hypersphere Ventures, Blockchain Capital, PNYX Ventures, CMS Holdings, Alameda Research, SOSV, Spartan Group, LedgerPrime, LongHash Ventures, Cluster, Dlab and Pluto Digital Assets.
15. Automata Network | $2.4m | KR1, IOSG Ventures and Jump Trading | strategic round
Automata Network is a decentralised service protocol that provides privacy middleware for Web3 dApps to achieve traceless privacy, high assurance and frictionless computation. Team has raised $2.4m in strategic funding! The roster of investors participating in the round includes KR1, IOSG Ventures and Jump Trading.
16. Set Labs | $14m | 1kx, Hashed, Mechanism Capital and others| series A round
Set Labs, an upstart platform for creating structured decentralized finance (DeFi) investment products on Ethereum, has raised $14m. Early-stage token fund 1kx and crypto venture capital firm Hashed led the round. Mechanism Capital, Defiance, Spartan, ParaFi, Coinbase Ventures, Craft and Threshold Ventures also joined the round.
17. Circle | $440m | Fidelity Management, Research Company, Marshall Wace and others | strategic round
The crypto-native financial services firm behind the USDC stablecoin has raised a massive funding round. Circle has raised $440m from a roster of major backers: Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC and others.
18. Blocto | $8m | undiscloused investors| private round
Crypto app Blocto raised $8m during private token sale.
19. Polytrade | $1.2m | Sandeep Nailwal (Polygon), Master Ventures, David (Huobi) and others | private round
Polytrade, the blockchain-based protocol for trade finance, raised $1.2m from Sandeep Nailwal (Polygon), Master Ventures, David (Huobi), Orion Protocol, AU21 Capital, Spark Digital Capital, LD Capital Limited, Icetea Labs, Momentum 6, Krypital Group, ROK Capital, Ramani Ramachandran (Router), Amesten Capital, Axia Ventures, Shima Capital, and DaSheng Capital.
20. Talos | $40m | a16z, PayPal Ventures, Fidelity Investments and others | series A round
Crypto trading engineering firm Talos raised $40m in Series A funding led by Andreessen Horowitz (a16z), with PayPal Ventures, Fidelity Investments and others also taking part. The New York-based firm, founded in 2018, provides technology that supports digital asset trading to financial institutions.
21. Mintlayer | $5.2m | Alphabit, Moonwhale, 4SV and others | seed
Decentralized Finance protocol Mintlayer has secured $5.2m via seed funding round. Mintlayer is already working closely with several prominent VCs that focus specifically on the blockchain space, with this new round seeing Alphabit, Moonwhale, 4SV, X21, Iconomy Partners and AU21 joining as advisors to the Mintlayer project. Mintlayer has also secured funds from many other top global crypto-based VC firms.
22. QuickNode | $5.3m | Seven Seven Six, Softbank’s Opportunity Fund, Arrington XRP Capital and others | seed
Blockchain development platform QuickNode has raised $5.3m in a seed funding round led by Seven Seven Six, a VC firm created by Reddit co-founder Alexis Ohanian. Softbank’s Opportunity Fund, Arrington XRP Capital, Crossbeam, Anthony Pompliano are among those who participated.
23. Meme.com | $5m | Outlier Ventures, Digital Finance Group, Morningstar and others | private round
Meme.com sets out to unite meme markets and trends with “memetic tokens,” NFTs and digital art. Meme has raised $5m from blockchain-focused venture capital funds including Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital and other investors.
25. MicroStrategy | BTC purchase
MicroStrategy plans to raise from $400m to $500m to buy more bitcoins.
26. Omni AI | undiscloused sum | Exnetwork Capital | private round
Omni AI is rewards-sharing app to change the universe of social media and tech forever. Exnetwork Capital imvested in project.
27. Dusk Network | $5m | project support
Dusk Network has opened Grants Program. The program was revealed on April 9th during DuskCon, the first-ever Dusk Network Conference. It is the first of its size in The Netherlands: $5m offered by a privately held company focusing on blockchain technology.
28. Reach | $12m | strategic round
Reach, a development platform enabling any developer to build decentralized applications, announced they’ve raised $12m in funding at a $48m valuation. Reach’s focus on accessibility and safety, when combined with the powerful Algorand Virtual Machine (AVM), provides the safest, easiest, fastest, and cheapest smart contract platform available.
29. Robonomics Network | dev support
Robonomics Network launches its first Grant Program to support academic research in the field of networked cyber-physical systems. The maximum funding amount: 50 000 DAI in cryptocurrency. Funding is provided in Robonomics (XRT) or Dai Stablecoin (DAI) or Ethereum (ETH) tokens at the price at the time of approval of the proposal.
30. RippleX | dev support
RippleX has announced the launch of a community grants program for projects building on the XRP ledger. The Grants Program will focus on NFTs, Core infrastructure, developer tooling, Developer UX and security.
31. DeFi Alliance | dev support
DeFi Alliance launched Defigrants: a free resource for developers to learn and apply for DeFi Grant programs.
32. ChainSafe | undiscloused sum | Chainlink | grant
ChainSafe, a leading blockchain protocol and infrastructure development firm, has been awarded a Chainlink community grant to perform a native integration of Chainlink into the Cosmos-SDK.
33. Unchained Capital Inc | $25m | New York Digital Investment Group LLC | strategic round
Unchained Capital Inc. — a company that delves in crypto custody services and lending — has managed to garner a whopping $25m in funding, bringing its overall valuation to an impressive $125m. The funding round was led by New York Digital Investment Group LLC, a provider of Bitcoin-related financial services. NYDIG’s investment increases its minority stake in the business and includes an additional $100 million commitment to back loans issued by Unchained.
34. The Future of Life Institute | $25m | Vitalik Buterin and the Shiba Inu community | charity
The Future of Life Institute is delighted to announce a $25m multi-year grant program aimed at tipping the balance toward flourishing, away from extinction. This is made possible by the generosity of cryptocurrency pioneer Vitalik Buterin and the Shiba Inu community.
35. SatoshiPay | undiscloused sum | Stellar Development Foundation | grant
SatoshiPay, a blockchain-powered payment solution built on Stellar, received a research and development grant from the Stellar Development Foundation to start the development of the Pendulum network — a new second-layer blockchain that connects Stellar to the wider DeFi ecosystem by adding smart contract support and bridges to Ethereum and Polkadot.
36. Uniswap | $25m | new fund
An initiative by Uniswap token holders to create a $25m “political defense” fund for DeFi protocols is two steps closer to becoming a reality. The fund was proposed by the Harvard Law Blockchain & FinTech Initiative (HarvardLawBFI), who want 1 million UNI tokens (about $25m) from the community treasury to prop up a 501(c)(4) nonprofit that would “defend the protocol and DeFi from legal and regulatory threats.”
37. 21shares | ETP
Switzerland-based 21shares announced it’s going to offer its crypto exchange-traded product (ETP) to institutional investors in Britain. The 21shares bitcoin ETP (ABTC) will be made available through a partnership with GHCO, a leading market maker and liquidity provider that specializes in exchange-traded funds (ETFs). It will be listed on Aquis Exchange, a multilateral trading platform based in London and Paris. The exchange facilitates stock trading across 15 European markets.
38. Cudos | undiscloused sum | Animoca Brands | strategic round
Animoca Brands, a company specializing in digital entertainment, blockchain, and gamification, has invested in and partnered with Cudos, a decentralized cloud computing network. In particular, the partnership will enhance Animoca Brands’ ecosystem with a low-cost layer-1 blockchain and layer-2 computation and oracle network for multi-chain strategy blockchain gaming and NFT projects.
39. a16z | $2B | new fund
Andreessen Horowitz’s third crypto fund could garner $2B if all goes according to plan, sources told venture capital writer Eric Newcomer for his newsletter.
40. pNetwork | undiscloused sum | Algorand Foundation | grant
pNetwork has received a grant from the Algorand Foundation to expand the Algorand system by creating pTokens crosschain connections.
41. DBS | $11.3m | bonds
Multinational Singapore-based bank DBS has issued a S$15 million (US$11.3m) digital bond via its Digital Exchange (DDEx) in its first security token offering (STO).
42. Cambrian Asset Management | $10.89m | new fund
A small-ish hedge fund specializing in quantitative investment for digital assets, Cambrian Asset Management, has announced in a filing with the Securities and Exchanges Commission they raised $10,894,480 for what they called Cambrian Core Blockchain Fund LP.
43. CoinEx | $10m | new fund
CoinEx, a cryptocurrency exchange company founded in December 2017, announced its native CoinEx Smart Chain (CSC) testnet has been successfully deployed, after two weeks of stable internal operation. To facilitate the synergy between the CeFi and DeFi ecosystem of CoinEx; the CSC Foundation is setting up a $10m seed fund to attract more developers to build applications on CSC.
44. Calvin Kim | $100k | BitMEX | grant
Crypto exchange BitMEX has renewed a $100k grant for Bitcoin researcher Calvin Kim for another year. Kim also received additional funding worth $50k from the Human Rights Foundation.
45. PolkaWar | $400k | ChinaPolka, BMW Capital and PolkaBridge | private round
PolkaWar, an upcoming NFT-based fighting game, announces that the company has secured $400k in funding from the strategic partners at ChinaPolka, BMW Capital and PolkaBridge in an exclusive private-sale round, which was conducted earlier.
46. Panther Protocol | $8m | DeepVentures, Alphabit Fund, MarketAcross and others | private round
Panther Protocol protects individual freedoms with interoperable zero knowledge assets. Panther Protocol team has attracted attention from over 140 venture capitalists and participants. Noteworthy contributors include DeepVentures, Alphabit Fund, MarketAcross, Protocol Ventures, A195 Capital, AU21, Defiants, etc. The Panther Protocol team has raised $8m to bring its privacy-oriented solution to the DeFi ecosystem by completing the private rounds successfully.
47. Guggenheim Partners | $350B| new fund
Guggenheim Partners, an asset manager of over $350B, has registered a fund with the option of investing in bitcoin. The fund will be managed by a subsidiary of Guggenheim Funds Investment Advisors. Another subsidiary, Guggenheim Partners Investment Management, will be in charge of the portfolio. The Guggenheim Active Allocation Fund is slated to begin trading on the New York Stock Exchange under the ticker GUG.
48. EmiSwap | $1.38m | Carl Moon, Box Mining, Edna and others | private round
EmiSwap — a community-governed decentralized exchange (DEX) — has raised $1.38m from a large number of investors. Backers of the exchange, which runs as a decentralized autonomous organization, include Carl Moon, Box Mining, Edna, TMM Holdings’ Jason D, Hodl.global, ExNetwork Fund, and Inclusion Crypto Fund.
49. Reef Finance | $20m | dev support
The Reef Finance team is tasked with building the DeFi-oriented blockchain Reef Chain on the Substrate framework. Recently, its Canary mainnet began operations and now Reef Finance introduces a large-scale $20m grant program for developers.
50. Master Ventures | $30m | new fund
Asia-based private venture capital firm Master Ventures has launched a $30m venture capital fund to support projects trying to integrate with Polkadot as well as other early-stage ventures building on the protocol.
51. Borderless Capital | $25m | new fund
Borderless Capital’s support for Algorand-based development has taken another incremental turn with the venture capital firm launching a new $25m fund in Miami.
52. Polygon Ecosystem Fund | $21m | AU21 Capital | new fund
Polygon ecosystem is getting a major funding boost thanks to a new joint venture fund with blockchain venture capitalist AU21 Capital, setting the stage for wider adoption of the Ethereum-compatible infrastructure platform. The $21m Polygon Ecosystem Fund is designed to provide direct funding support for promising projects building on top of Polygon
53. Amasa | undiscloused sum | Animoca Brands | strategic round
Animoca Brands, a company specializing in digital entertainment, blockchain, gamification, and artificial intelligence, announced that it has led a seed round of funding for Amasa, a micro income streaming platform.
54. Coordinape, APY Vision, Cryptokek, Millennial Finance, Mushroom, SpookySwap, SpiritSwap and Hyperjump | undiscloused sum| Fantom Foundation | dev support
Fantom Foundation, the organization working closely with partners to support the adoption of the Fantom blockchain network, has announced a new grant offering to a group of projects it believes will accelerate growth on the network: Coordinape, APY Vision, Cryptokek, Millennial Finance, Mushroom, SpookySwap, SpiritSwap and Hyperjump.
55. Cryptology Asset Group | $100m | new fund
Cryptology Asset Group, a Malta-based investment outfit co-founded by serial entrepreneurs Mike Novogratz and Christian Angermayer, is set to offer support for crypto VC firms. The European holding company announced plans to float a $100m investment into first-time crypto funds.
ROK Capital, a leading blockchain accelerator group based in Korea, has partnered with Solana Foundation to launch a $20m fund aimed at developing the Solana blockchain ecosystem.
Flow is collaborating with AppWorks Accelerator in the launch of their 23rd batch (AW#23). AppWorks’ dedicated team of over 80 mentors, and an extensive alumni network of over 1,300 founders and 395 startups, are an incredible resource for the entire community. AppWorks is a powerful accelerator and VC firm, with over $200m in investable assets currently under management.
58. BullPerks | $1.8m| X21, GD10, Shima Capital and others | private round
BullPerks has successfully completed its private funding round raising $1.8m. Bullperks is an outstanding Decentralized VC and multi-chain launchpad solution. Investors include X21, GD10, Shima Capital, AU21, Alphabit, Genblock, Skynet Trading, Blocksync, Darkpool, Moonwhale, Sora Ventures, Faculty Capital, ThreeM Capital and more.
59. dLocal | $617m | IPO
Payments startup dLocal from Uruguay that uses RippleNet had successfully raked in more than $617m during its US initial public offering. The company had started trading on the Nasdaq.
60. RMRK | $6m | D1 Ventures, YBB, PAKA and others | private round
RMRK, an advanced NFT protocol project, raised $6m to build the standard cross-chain NFT infrastructure in the Polkadot and Kusama ecosystem. Investors such as D1 Ventures, YBB, PAKA, DFG, and others are all betting on NFTs 2.0 as presented by RMRK.
61. Flare Network | $11.3m | LD Capital, cFund, Wave Financial and others | private round
Smart contracts platform Flare Network has raised $11.3m in a funding round led by Kenetic Capital, with firms including Coinfund and Grayscale parent company Digital Currency Group participating. Other firms participating in the funding round include LD Capital, cFund, Wave Financial, Borderless Capital, and Backend Capital, while individuals taking part included Litecoin founder Charlie Lee and Terra co-founder Do Kwan.
62. Blockdaemon | $28m | Coinfund, CoinShares, BlockFi and others | series A round
Blockdaemon, a provider of blockchain staking infrastructure, raised $28m in Series A funding, including participation from investment-banking powerhouse Goldman Sachs. The fundraising round was led by Greenspring Associates and also included Coinfund, CoinShares, BlockFi, Uphold and Voyager Digital.
63. Ledger | $380m | 10T Holdings, Cathay Innovation, Draper Esprit and others | series C round
Ledger, the leading secure gateway for digital assets, announced a $380m Series C round, led by 10T Holdings, with strong support from existing investors including Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital and other newcomers including Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies. The Series C fundraising means that Ledger has an implied valuation of more than $1.5B, marking its rapid and accelerating growth.
64. Hummingbot | $8m | Initialized Capital, Slow Ventures, Arrington XRP Capital and others | series A round
Hummingbot, an open-source, crypto trading bot platform, has raised $8m in a Series A round led by venture capital firm Initialized Capital. Other traditional VCs participated, including Slow Ventures, Arrington XRP Capital, as did strategic partners from across the cryptocurrency industry: Borderless Capital, DeFiance Capital, Terraform Labs (Luna), AscendEX (BitMax), Ava Labs, NEM Trading, and Altonomy.
65. Divergence | undiscloused sum | Mechanism Capital, KR1, Nothing Research and others | seed, private rounds
Divergence, the decentralized platform for volatility-based derivatives, closed seed and private funding led by Mechanism Capital and KR1, with participation from Nothing Research, Focus Labs, Arrington Capital, P2P Capital, Orthogonal Trading, Taureon, HashKey Capital, Youbi Capital, Digital Finance Group, and others. Angel investors include Do Kwon from Terra Labs, Diane Dai from DoDo, Sandeep Nailwal from Polygon, Igor Barinov from xDai, and others.
66. Solana Labs | $314.15m | a16z, Polychain Capital, Alameda Research and others | private round
Solana Labs, the developer of the Solana blockchain, has raised $314.15m in a private token sale round led by Andreessen Horowitz (a16z) and Polychain Capital. Other participants in the round included Alameda Research, CMS Holdings, CoinShares, Jump Trading, Multicoin Capital, Sino Global Capital, and many others.
67. Red Date Technology | $30m | Kenetic Capital, Prosperity7, Pictet Group and others | series A round
Beijing-based Red Date Technology, the developer behind China’s Blockchain-based Service Network (BSN), has closed a Series A round raising $30m. The round was led by Kenetic Capital and Prosperity7. Other participating investors include Swiss financial services giant Pictet Group, and Bangkok Bank, one of the largest banks in Thailand.
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