- Worldcoin raised the most money at $115 million
- Four of the projects did not disclose the amount of investment
- The most active funds this week were Polygon Fund, OrangeDAO, gmjp
- All of them participated in two rounds of funding
Here is the weekly roundup of the 16 projects that raised money from various funds last week. Here are details about each of these projects:
– The Sort platform, which is designed for developers and facilitates embedding smart contracts into Web3 applications, has raised $3.5 million in seed round funding.
It was co-led by Lemniscap and The General Partnership. Other investors include Alliance DAO, OrangeDAO, Blizzard Fund, gmjp, Punk Ventures.
The startup seeks to use the new capital to expand its product offering, expand its Sort team and accelerate the launch of Sort Applications.
– Moondance Labs, which develops the Tanssi application infrastructure protocol, has raised $3 million in seed round funding.
It was led by Arrington Capital, with participation from well-known investors Borderless Capital, HashKey Capital, D1 Ventures, Hypersphere, C² Ventures and Jsquare.
Funds will be used to support the development of the Tanssi network, an application chain infrastructure protocol.
In addition, the Tanssi protocol gets the added benefit of shared security and built-in interoperability from the Polkadot relay chain.
– The Openfort platform, which helps game developers connect their players to the full range of web3 features, announced the closing of a $3 million seed round of funding.
The round was led by Gumi Cryptos Capital and Maven 11, with participation of NGC Ventures and Newman Capital.
Openfort creates infrastructure for game developers and aims to reduce gamers’ interaction with blockchain.
The company wants to offer video game studios what it calls “frictionless wallet technology.”
– Decentralized open-ended exchange Narwhal Finance, has closed a strategic funding round for an undetermined amount.
It is known that after receiving the investment, the valuation of the company reached the mark of $25 million.
The investors were Animoca Ventures, Hailstone Ventures, and private investors.
Narwhal Finance will use the funds raised to further improve the social trading experience on the platform and provide an exceptional leveraged decentralized trading experience available to all.
– BoomLand, a blockchain-based gaming platform that removes the Web3 entry barrier, was able to raise $1 million in investment.
Polygon, Game7, Magic Eden, Hyperithm, and a number of private investors participated in the previous seed round of funding.
The funds will help the company launch its Hunters On-Chain game, due out as early as the end of May.
– RedStone, a company that provides frequently updated, reliable and diverse data for dApps and smart contracts, has announced the closing of an angel funding round.
It was attended by private investors such as Stani Kulechov, Sandeep Nailwal, Alex Gluchowski, Emin Gun Sirer, Jacob Blish, coinflipcanada, Marco Cora, Patrick Dai, Richard Ma, Justin Reyes.
New capital is being used to develop the ecosystem and update products.
– Startup Syntropy successfully completes a $4 million funding round.
Investors included leading venture capital firms such as Alpha Transform Group, Alphemy Capital, Denali Digital, Saxon Ventures and FirstBlock Capital, as well as private investors.
The company said in a statement that it will use the investment raised to push Syntropy to new heights, and develop the Web3 ecosystem.
– Decentralized funding protocol Num Finance raised $1.5 million in a previous seed funding round.
The company plans to expand its stabelcoin offerings in Latin America. Namely in the Brazilian real, Colombian peso, Mexican peso, and Bahraini dinar.
Ripio, VC3 DAO, Reserve protocol, H2O Scouter Fund, Matias Woloski participated in the funding round.
– LabDAO, a decentralized, open source drug discovery organization, has raised $3.6 million in a funding round co-led by Inflection.xyz and Village Global.
Other round participants included North Island Ventures, Seed Club Ventures, ID Theory, Road Capital, Curve Labs, gmjp.lol , Molecule, Gnosis DAO, The LAO, Orange DAO, Beaker DAO, Spaceship DAO and former Coinbase employee Balaji Srinivasan, among others.
– FastLane Labs, a maximum extractable value (MEV) protocol project for Polygon, is raising $2.3 million in seed round funding.
Multicoin Capital was the lead investor, and Polygon Ventures, Shima Capital, Delphi Ventures and Everstake Ventures, a41 Ventures and Symbolic Capital also participated in the round.
– Cryptocurrency exchange Bitfinex announced an investment in Chilean crypto exchange OrionX. The amount of funding was not disclosed.
Thus the company wants to expand its presence in Latin America. Bitfinex made its investment more than a month after it received an operating license in El Salvador from the National Commission on Digital Assets.
This license allows secondary assets to be issued and traded through a platform that complies with local regulations.
– Cryptocurrency project Worldcoin has completed a $115 million Series C funding round led by Blockchain Capital.
The round was led by Blockchain Capital, with a16z crypto, Bain Capital Crypto and Distributed Global also participating.
Tools for Humanity, the lead developer of the Worldcoin project, said the new capital is being used to further develop the recently launched World App, a wallet designed for the Worldcoin ecosystem.
– Coin98 is making a strategic investment in the highly scalable and secure blockchain network TomoChain. The amount of funding was not disclosed.
TomoChain support is Coin98’s next step in its mission to bring the Web3 industry.
The partnership with Coin98 will allow the startup to continue to expand the team, attract more builders to the network and encourage millions of users to join.
– Social Web-3 startup PoP Planet has completed a $4 million angel funding round. The company’s valuation has now reached the $40 million mark.
The sole investor was Foresight Ventures, with the participation of other private investors.
Funds will be used to support product development and iteration, as well as incentives for creators after the PoPP launch.
The latter product will soon launch on the App Store for global public beta testing.
– Singapore-based communications company GoodGang Labs announced that it has raised $2 million in seed round funding from Kakao Investment.
The funds raised will strategically focus on the expansion and development of kiki town, their long-awaited flagship product that is set to revolutionize virtual interactions.
– Venture capital fund Vega Ventures led a strategic investment round in Burgercities, with SANYUAN Labs and Bitfly Capital also participating in the funding round.
Overall, the startup managed to raise $4 million.
They plan to use the new capital to accelerate the development of BurgerCities, which aims to create a blockchain-based gaming environment where MetaFi and GameFi coexist and give new concepts to digital gaming.
The top 20 funds by number of investments from May 22 to 28:
Number of private funding rounds by category:
There were 16 rounds during the week. Which category invested the most:
Blockchain infrastructure – 1;
Blockchain service – 6;
CeFi – 1;
DeFi – 4;
GameFi – 1;
Social – 3;
In the past week, 20 projects attracted $214.35 million in investments. Read more about them in our story.