Praxis and Blockstream made headlines this week, each raising six-figure funding rounds, according to the latest data.
Cryptocurrency VC funding has seen a notable spike in the past seven days compared to last week, when Ithaca led the way with $20 million raised. However, this week, as Bitcoin (BTC) regained the $68,000 level, crypto.news analyzed and collected data from October 13th to October 19th.
According to Crypto Fundraising, the companies that topped the list are:
Praxis, $525 million
Praxis is the first network nation building an online community of like-minded people. The company raised $525 million, making it the top crypto VC funding this week. Key investors in the funding include Gem Digital, Arch, Manifold, and more.
Blockstream, $210 million
Blockstream is building a crypto financial infrastructure based on Bitcoin. The company has raised $210 million from lead investor Fulgur Ventures. Blockstream’s crypto VC funding totals $621 million.
Blockstream has completed a $210 million convertible note financing round led by: @FulgurVenturesfurthering our mission to bring Bitcoin into global finance.
This capital will accelerate Layer 2 development, expand mining ahead of the next Bitcoin cycle, and grow one of the largest Bitcoins in the world. pic.twitter.com/gi1ov0LCYU
— Blockstream (@Blockstream) October 15, 2024
Azura Games, $42.7 million
Azra Games is a game studio focused on creating immersive role-playing games. In a Series A led by Pantera, the company raised $42.7 million.
Yellow Card Financial, $33 million
Yellow Card Financial is a pan-African cryptocurrency exchange. The exchange has raised $33 million in Series C led by Blockchain Capital. Yellow Card Financial has raised a total of $89.5 million to date.
Big news with yellow card!🎉
Raised $33 million in Series C funding. @blockchaincapwith a total capital of $85 million. This transformative investment will accelerate our growth across Africa, enhance our API and widget products, and enable seamless international payments. pic.twitter.com/w42CSo23aG
— Yellow Card App (@yellowcard_app) October 16, 2024
Towns, $25.5 million
Towns is a Web3 group chat protocol that allows communities to build blockchain-based gatherings. The company has raised $25.5 million in Series A funding from a16z Crypto, Benchmark, and Framework.
Bitnominal, $25 million
Bitnomial is a US-based cryptocurrency exchange that offers cryptocurrency futures and options trading. The exchange has raised $25 million from Ripple through a Series C funding round. Bitnomial has raised $36.6 million to date.
Bitnomial announces the upcoming launch of perpetual futures on the CFTC-regulated Bitnomial Exchange. As part of this, @Botanicala platform for all investors to trade perpetual futures, traditional futures, and options.
Learn more here:… pic.twitter.com/oagZNhIAxh
— Bitnomial (@Bitnomial) October 15, 2024
ZkPass, $12.5 million
The identity verification solution has raised $12.5 million in Series A funding, giving the company a round valuation of $100 million. ZkPass has raised $15 million to date.
We are pleased to announce that zkPass has secured $12.5 million in a Series A funding round. This brings total funding to $15 million and will accelerate zkTLS development across the Web3 ecosystem.
Delivery is more important than storytelling.
🧵 1/10 pic.twitter.com/RHeYeyxJIx
— zkPass (@zkPass) October 17, 2024
Opaque Network, $12 million
Opacity Network is a zero-knowledge proof protocol that enables verification without disclosing details. The company has raised $12 million in a seed funding round.
Solv Protocol, $11 million
Solv Protocol provides investors access to crypto investments through a trustless fund infrastructure. The company raised $11 million in a strategic round, giving the round a valuation of $200 million.
Announced $25 million in funding to pave the way for mass adoption of Bitcoin staking leveraging the recently launched Staking Abstraction Layer (SAL).
— Solv Protocol (@SolvProtocol) October 14, 2024
Mento Lab, $10 million
Mento Labs is a platform for creating and managing multi-currency stable assets. The company raised $10 million on October 16th.
📣 @MentoLabs We are proud to announce that we have raised $10 million! 🎉
Amid growth and milestones, we announce our stablecoin roadmap to introduce new decentralized local currency stablecoins to Africa, Asia, and Latin America. pic.twitter.com/CvMGLeMseA
— MentoLabs (@MentoLabs) October 16, 2024
Cryptocurrency VC funding round < $10 million
Predicate: Decentralized network raised $7 million. ZeroBase: ZK proof generation platform has raised $5 million from investors including Binance Labs, Lightspeed Action, and more. Drop Protocol: Drop Protocol has raised $4 million in a seed funding round. Plasma: Zero-fee payments platform raises $3.5 million. Pell Network: Pell Network has raised $3 million in a pre-seed round. Blockcast: Content distribution network raises $2.85 million in seed funding round. The Arena: The Arena has raised $2 million in a pre-seed round. Hyve DA: Data Availability Network raises $1.85 million in pre-seed round. Surge: Surge has raised $1.8 million in pre-seed funding from investors including Gerstenbrot Capital and CoinGecko. Hermetica: DeFi platform raises $1.7 million in seed round. Mr. Lombard: Mr. Lombard raised $1 million from Binance Labs. This week, World of Dypians, CCData, Bracket Labs, and Marketnode raised an undisclosed amount.
Check out last week’s column here.
