【3/30~4/5】web3 Fundraising NEWS
Impression of more and more L2 solutions for mass adoption
Good morning.
This is mitsui from web3researcher.
Today's edition of "Weekly Web3 Fundraising News" is a compilation of projects that have been funded in the past week. Please take a look!
Top 5 projects in terms of 💥proceeds
1,IoTeX
Summary: DePIN-specific L1 blockchain. Provides a modular infrastructure connecting smart devices and blockchain Dapps.
Category: Blockchain, DePIN
Amount raised:$50 million
Investment round: TBD
Investors: SNZ Holding, Foresight Ventures, Borderless Capital, Hex Trust, etc...
2,Burnt (Xion)
Abstract: The first L1 blockchain built for consumer adoption. It is intended for mainstream adoption through generalized abstraction. XION uses $USDC as the primary transaction currency, eliminating bridge risk and price volatility, ensuring security, stability, and familiarity in the ecosystem.
Category: Blockchain, AA
Amount raised:$25 million
Investment round: SeriesA
Investors: Animoca Brands, Multicoin Capital, Golden Tree, The Spartan Group, etc.
3,Phoenix
Summary: Introduces itself as the fastest on-chain order book in the DeFi space, promising unprecedented speed, efficiency, and transparency with respect to limit orders. It boasts an impressive average block time of 0.5 seconds on Solana and ultra-low protocol and network fees. Enhancing the trading experience with instant trade confirmation and settlement, it is designed to give traders complete control over their assets in a trustless, unsecured environment.
Category: DeFi
Amount raised:$20 million
Investment round: Series A
Investors: ★Paradigm, Electric Capital
4,Agora
Summary: A financial solutions provider that provides stability by locking in value to assets such as cash, government bonds, and dollars backed by repurchase agreements. Agora Finance specializes in supplier financing for small and medium-sized businesses in emerging markets, providing fast and flexible financing options to free up working capital and promote economic development.
Category: Stable Coin
Amount raised:$12 million
Investment round: Seed
Investors: *Dragonfly Capital, General Catalyst, Robot Ventures
5,Gomble Games
Summary: Strategic casual game studio focused on creating immersive and enjoyable gaming experiences through the "GX" concept, which emphasizes dynamic gameplay elements and simplicity. Aims to deliver engaging and entertaining games that prioritize core enjoyment over financial gain.
Category: GameFi
Amount raised:$10 million
Investment round: TBD
Investors: The Spartan Group, Hashed, IOSG Ventures, Foresight Ventures, etc.
17 👀funded projects
Zeus Network[$8M/TBD]: a permissionless communications layer that seamlessly integrates Solana and Bitcoin, leveraging Solana's speed and scalability with Bitcoin's security and liquidity.
Raiinmaker[$7.5M/seed]: DePIN for distributed AI, offering users rewards for generating and training AI content. Provides an underlying network and an application that enables AI training.
Sanctum[$6.1M/seed]: Solana's protocol for unlimited liquid staking, providing an integrated liquidity layer for users staking SOL natively or with LST.
Gasp[$5 million/private]: a cross-chain rollup protocol designed to allow seamless transfers between ethereum scaling networks such as Arbitrum and Optimism.
Lockchain ai[$4.6M/seed]: risk management platform for blockchain assets that uses generative AI for real-time portfolio risk analysis andmonitoring.
Legitimate[$4.3 million/seed]: provides LGT protocols and LGT tags that connect physical products to the blockchain. Customers will be able to verify authenticity and access exclusive digital content.
Arrow Markets[$4M/SeriesA]: Hybrid web3 options platform designed for optimal UX. Integrates RFQ system and democratizes the entire options trading process from market making to settlement.
Camp Network[$4M/Seed]: a modular, Layer 2 solution tailored for the entertainment, media, music, and gaming industries that leverages off-chain data from Web2 streaming and social platforms to enable on-chain value Enabling Creation.
Zulu Network[$3M/PreSeed]: offers two tiers of BTC L2 ZuluPrime, which is EVM compatible and primarily used for DeFi, and BTC L3 ZuluNexus, which supports both UTXO and account types.
Moongate[$2.7M/seed]: An integrated platform that allows brands and event organizers to enhance community engagement and offer exclusive experiences and benefits through NFT tickets and memberships. Features include ticketing, membership programs, rewards campaigns, and customer analytics.
AutoLayer[$2.5M/Seed]: Arbitrum's primary LRTfi hub, providing access to various assets, liquidity pools, farms, and vaults/strategies; integrated into EigenLayer to optimize LRT, LST, AVS, operators, and incentives and and serves as a gateway to LRTfi to develop optimal strategies.
BonusBlock[$2.3M/TBD]: web3 on-chain engagement protocol. Provides a dedicated white label solution, enabling the ecosystem to attract, onboard and evolve users.
Merkle Trade[$2.1M/seed]: the first gamified permanent decentralized exchange (PERP DEX) offering cryptocurrency, forex and commodities trading with up to 1,000x leverage. It has a unique level-up system, root box, and NFT rewards.
XRADERS[$2.1M/seed]: a platform dedicated to providing users with trusted insight and guidance in the cryptocurrency market. Helps both novice and experienced traders make informed decisions through carefully selected expert advice and interactive features.
LightLink[$1.7M/seed]: ETH L2 to facilitate instant gasless transactions for dApps and enterprises, offering a fixed fee subscription model through enterprise mode, allowing users to experience high throughput transactions for free and enable sophisticated DeFi and compute-intensive dApps.
SatoshiSync[TBD/Seed]: a chain-independent interoperability protocol designed for BTCFi, providing the first permissionless solution for deployment and bridging of subscriptions in Bitcoin L2.
Privasea[TBD/TBD]: addressing the data privacy challenges of AI. Integrates fully quasi-isomorphic encryption and blockchain-based incentives to revolutionize machine learning inference, enhance privacy, and facilitate collaborative AI computation while ensuring a secure and private AI computing experience for users.
These are just 22 projects.
Once again, I have the impression that L2 solutions for mass adoption are increasing. Unlike existing L2, more and more chains are equipped with gasless and AA functions at the chain level, and although they are public chains, many of them are secured and expanded by the content and sales force of the Dapps and operating companies that they attract, so a slightly different L2 war is starting now This may be the beginning of a slightly different L2 war.
So that's it for this week's Fundraising NEWS. We will do this every week, so please look forward to next week's edition!
Good morning.
This is mitsui from web3researcher.
Today's edition of "Weekly Web3 Fundraising News" is a compilation of projects that have been funded in the past week. Please take a look!
Top 5 projects in terms of 💥proceeds
1,IoTeX
Summary: DePIN-specific L1 blockchain. Provides a modular infrastructure connecting smart devices and blockchain Dapps.
Category: Blockchain, DePIN
Amount raised:$50 million
Investment round: TBD
Investors: SNZ Holding, Foresight Ventures, Borderless Capital, Hex Trust, etc...
2,Burnt (Xion)
Abstract: The first L1 blockchain built for consumer adoption. It is intended for mainstream adoption through generalized abstraction. XION uses $USDC as the primary transaction currency, eliminating bridge risk and price volatility, ensuring security, stability, and familiarity in the ecosystem.
Category: Blockchain, AA
Amount raised:$25 million
Investment round: SeriesA
Investors: Animoca Brands, Multicoin Capital, Golden Tree, The Spartan Group, etc.
3,Phoenix
Summary: Introduces itself as the fastest on-chain order book in the DeFi space, promising unprecedented speed, efficiency, and transparency with respect to limit orders. It boasts an impressive average block time of 0.5 seconds on Solana and ultra-low protocol and network fees. Enhancing the trading experience with instant trade confirmation and settlement, it is designed to give traders complete control over their assets in a trustless, unsecured environment.
Category: DeFi
Amount raised:$20 million
Investment round: Series A
Investors: ★Paradigm, Electric Capital
4,Agora
Summary: A financial solutions provider that provides stability by locking in value to assets such as cash, government bonds, and dollars backed by repurchase agreements. Agora Finance specializes in supplier financing for small and medium-sized businesses in emerging markets, providing fast and flexible financing options to free up working capital and promote economic development.
Category: Stable Coin
Amount raised:$12 million
Investment round: Seed
Investors: *Dragonfly Capital, General Catalyst, Robot Ventures
5,Gomble Games
Summary: Strategic casual game studio focused on creating immersive and enjoyable gaming experiences through the "GX" concept, which emphasizes dynamic gameplay elements and simplicity. Aims to deliver engaging and entertaining games that prioritize core enjoyment over financial gain.
Category: GameFi
Amount raised:$10 million
Investment round: TBD
Investors: The Spartan Group, Hashed, IOSG Ventures, Foresight Ventures, etc.
17 👀funded projects
Zeus Network[$8M/TBD]: a permissionless communications layer that seamlessly integrates Solana and Bitcoin, leveraging Solana's speed and scalability with Bitcoin's security and liquidity.
Raiinmaker[$7.5M/seed]: DePIN for distributed AI, offering users rewards for generating and training AI content. Provides an underlying network and an application that enables AI training.
Sanctum[$6.1M/seed]: Solana's protocol for unlimited liquid staking, providing an integrated liquidity layer for users staking SOL natively or with LST.
Gasp[$5 million/private]: a cross-chain rollup protocol designed to allow seamless transfers between ethereum scaling networks such as Arbitrum and Optimism.
Lockchain ai[$4.6M/seed]: risk management platform for blockchain assets that uses generative AI for real-time portfolio risk analysis andmonitoring.
Legitimate[$4.3 million/seed]: provides LGT protocols and LGT tags that connect physical products to the blockchain. Customers will be able to verify authenticity and access exclusive digital content.
Arrow Markets[$4M/SeriesA]: Hybrid web3 options platform designed for optimal UX. Integrates RFQ system and democratizes the entire options trading process from market making to settlement.
Camp Network[$4M/Seed]: a modular, Layer 2 solution tailored for the entertainment, media, music, and gaming industries that leverages off-chain data from Web2 streaming and social platforms to enable on-chain value Enabling Creation.
Zulu Network[$3M/PreSeed]: offers two tiers of BTC L2 ZuluPrime, which is EVM compatible and primarily used for DeFi, and BTC L3 ZuluNexus, which supports both UTXO and account types.
Moongate[$2.7M/seed]: An integrated platform that allows brands and event organizers to enhance community engagement and offer exclusive experiences and benefits through NFT tickets and memberships. Features include ticketing, membership programs, rewards campaigns, and customer analytics.
AutoLayer[$2.5M/Seed]: Arbitrum's primary LRTfi hub, providing access to various assets, liquidity pools, farms, and vaults/strategies; integrated into EigenLayer to optimize LRT, LST, AVS, operators, and incentives and and serves as a gateway to LRTfi to develop optimal strategies.
BonusBlock[$2.3M/TBD]: web3 on-chain engagement protocol. Provides a dedicated white label solution, enabling the ecosystem to attract, onboard and evolve users.
Merkle Trade[$2.1M/seed]: the first gamified permanent decentralized exchange (PERP DEX) offering cryptocurrency, forex and commodities trading with up to 1,000x leverage. It has a unique level-up system, root box, and NFT rewards.
XRADERS[$2.1M/seed]: a platform dedicated to providing users with trusted insight and guidance in the cryptocurrency market. Helps both novice and experienced traders make informed decisions through carefully selected expert advice and interactive features.
LightLink[$1.7M/seed]: ETH L2 to facilitate instant gasless transactions for dApps and enterprises, offering a fixed fee subscription model through enterprise mode, allowing users to experience high throughput transactions for free and enable sophisticated DeFi and compute-intensive dApps.
SatoshiSync[TBD/Seed]: a chain-independent interoperability protocol designed for BTCFi, providing the first permissionless solution for deployment and bridging of subscriptions in Bitcoin L2.
Privasea[TBD/TBD]: addressing the data privacy challenges of AI. Integrates fully quasi-isomorphic encryption and blockchain-based incentives to revolutionize machine learning inference, enhance privacy, and facilitate collaborative AI computation while ensuring a secure and private AI computing experience for users.
These are just 22 projects.
Once again, I have the impression that L2 solutions for mass adoption are increasing. Unlike existing L2, more and more chains are equipped with gasless and AA functions at the chain level, and although they are public chains, many of them are secured and expanded by the content and sales force of the Dapps and operating companies that they attract, so a slightly different L2 war is starting now This may be the beginning of a slightly different L2 war.
So that's it for this week's Fundraising NEWS. We will do this every week, so please look forward to next week's edition!
Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.
About us
A web3 newsletter delivered in five languages around the world. We deliver various articles about web3, including project explanations, news and trend analysis, and industry reports, every day. You can subscribe for $8 per month ($80 per year) and receive research articles that took 100 hours to complete every day.
Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.
Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:
Telegram：@mitsui0x
*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.