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Web3 Funding Weekly Report (6/24-6/30): 29 Public Fundraising Events, Islamic Coin Raises $200M, DWF Labs Invests Another $18M in Conflux

Cointime Official

By Cointime Lu Tian

According to Cointime's preliminary statistics, there were 29 investment and financing events in the global blockchain space during the week of June 24-30. A summary is provided below:

  • DeFi recorded 6 fundraising events. Notably, Superstate, a crypto finance company founded by Compound Labs founder Robert Leshner, completed a $4 million equity financing round;
  • Web3 Gaming announced 3 fundraising events, with Web3 game studio Mythical Games raising $37 million in a Series C1 round;
  • NFT reported 2 fundraising events, including NFT startup Tegro securing a seed funding round at a $100 million valuation, with Polygon Ventures participating in the investment;
  • Infrastructure disclosed 4 fundraising events, featuring DWF Labs investing an additional $18 million in the public chain project Conflux;
  • Centralized Finance had 1 fundraising event, as Bitpanda Pro raised €30 million.
  • Other Web3/crypto-related projects announced 13 financing events, with the Islamic crypto project Islamic Coin completing a new funding round of $200 million.

A detailed breakdown of the data is provided below:

🪄 DeFi 

  • Superstate Raises $4M in Equity Financing for Crypto Bond Fund

Superstate, a crypto finance company founded by Compound Labs founder Robert Leshner, has completed a $4 million equity financing round. Investors in this round include ParaFi Capital, 1kx, Cumberland Ventures, Coinfund, and Distributed Global. Superstate plans to launch its first product, a short-term government bond fund that can be held in a crypto wallet or with a crypto custodian, allowing shareholders to record their ownership of the government bond funds on the Ethereum blockchain.

  • Brahma Expands Seed Round with $2.5M

Brahma, a decentralized revenue protocol, has secured $2.5 million to manage interactions and risks with multiple chains, dApps, and tools transparently and composablely. This allows users to efficiently earn yield, hedge, and deploy capital, with unrestricted access to a vault of advanced, risk-managed strategies, reducing the complexity of generating yield on numerous cross-chain DeFi primitives.

  • Shutter Network Raises $2.36M for MEV Open Source Protocol

Shutter Network has raised $2.36 million in funding from investors, including Alphemy Capital, coinIX, Equilibrium, Fish DAO, Factor (Gnosis Chain Strategic Venture Fund), JDAC Capital, JLH Ventures, OKX, OWL Ventures, Own Fund, and Timothy Lowe.

  • DeFi Mortgage Protocol PWN Secures $2M in Funding

DeFi mortgage protocol PWN has successfully raised over $2 million in funding from investors, including StarkWare, DFG, Gnosis Safe, Jsquare, Patricio Worthalter, Christoph Jentzsch, Zhou Zhiqiang, Alex Van de Sande, Lefteris Karapetsas, Tim Beiko, Danny Ryan, Luis Cuende, Anthony Sassano, Eric Conner, Dialectic, Next Web Capital, Nethermind, and F. actor.

  • AlloyX Completes $2M Financing Round for DeFi Protocol, Led by Hack VC

AlloyX, a DeFi protocol, has completed a $2 million Pre-Seed financing round led by Hack VC, with participation from Circle Ventures, Digital Currency Group, Stratos, Lecca Ventures, MH Ventures, Very Early Ventures, Archblock, dao5, and Credix Finance. Additionally, AlloyX has partnered with Credix Finance to create a real-world asset vault.

  • Binance Labs Invests in DeFi Infrastructure Provider Maverick Protocol

Binance Labs, the venture capital and incubation arm of Binance, has made a strategic investment in Maverick Protocol, a DeFi infrastructure provider focused on improving the efficiency of the DeFi market. This investment continues Binance Labs' support for growth in the DeFi space.

🎨 NFTs

  • Hook Protocol Completes $3M Financing for NFT Native Call Option Protocol

Hook has announced the completion of a $3 million financing round, led by Collab + Currency and Lattice, with participation from institutions and individuals such as Slow, Sfermion, Maven11, and Contrary. The platform aims to establish an NFT native option protocol, providing holders with new income and hedging opportunities, while enabling traders to use options for price prediction and secure leverage operations.

  • NFT Trading Platform Tegro's Seed Round Values at $100M

NFT startup Tegro has completed a seed round of financing at a $100 million valuation, with participation from Polygon Ventures and other private investment institutions. The specific financing amount has not been disclosed.

Tegro, co-founded by Siddharth Menon, former co-founder of crypto exchange WazirX, and Ashish Rawat, founder of fitness startup OGA Fit, is an NFT-20 exchange that enables users to conduct batch transactions of NFTs on Ethereum, Polygon, and other EVM-compatible chains while providing trading tools and technical services. The company plans to announce "large partnerships" and community-focused airdrop campaigns in the coming months.

🎮 Gaming

  • Web3 Game Studio Mythical Games Raises $37M in Series C1 Funding

Mythical Games, a Web3 game studio, has secured $37 million in Series C1 financing and anticipates an additional $20-30 million worth of financing later this year. The extended C1 round, led by Scytale Digital, included new investors such as ARK Invest, Animoca Brands, MoonPay, Proof, and Stanford Athletics.

  • Pixion Games Secures $5.5M Seed Round for Web3 Gaming

Web3 game studio Pixion Games has raised $5.5 million in seed funding to develop its flagship game, Fableborne. Prominent investors in this round include the Avalanche Foundation's Blizzard Fund, investment firm Shima Capital, and game decentralized autonomous organization ReadyPlayerDAO, among others.

  • Metaverse Gaming Platform AvatarLife Completes $1.5M Seed Round

Metaverse gaming platform AvatarLife has closed a $1.5 million seed round led by Info Edge Ventures. The funding will be used for product development, community building, and expanding its global team. This marks Info Edge Ventures' third investment in the gaming sector, following fantasy esports platform Fanclash and VR-based toy maker Mirana.

🎢 Infrastructure 

  • DWF Labs Invests $18M in Public Chain Project Conflux

DWF Labs has recently purchased $18 million in CFX tokens, strengthening its long-standing relationship with Conflux. Previously, DWF Labs had purchased $10 million worth of CFX tokens in March 2023.

  • Web3 Infrastructure Startale Labs Receives $3.5M Investment from Sony

Singapore-based Web3 company Startale Labs has secured a $3.5 million investment from Sony Network Communications. In February, Startale Labs announced its collaboration with Sony Network Communications to jointly host the Web3 incubation program powered by Sony Network Communications and Astar, which ran from mid-March to mid-June this year, and began accepting applications on February 17.

  • Zero-Knowledge Authentication Solution Outdid Raises $2.5M in Seed Funding

London-based Outdid, a provider of end-to-end private identity verification solutions using zero-knowledge proof technology, has raised $2.5 million in seed funding. The round was led by Jump Crypto, with participation from Superscrypt and over 15 angel investors, including Matias Woloski, Martin Varsavski, Gaston Frydlewski, Santiago Siri, Pia Mancini, Emanuele Francioni, Simeon Simeonov, Pressian Karakostov, Luis Cuende, Stefan George, Can Kisagun, Harsh Rajat, Alexi Ned, Bogdan Stanciu, EO Hao, and Questbook Investments.

  • Blockchain Startup SPYCE.5 Secures €1M Financing

Finnish entrepreneur Kimmo Nurmisto's startup, SPYCE.5, has received €1 million in funding, welcoming David Sønstebø as an angel investor. SPYCE.5 offers sustainable blockchain and Web3 infrastructure, data, and digital identity services.

🪙 CeFi

  • Bitpanda Pro Rebrands as One Trading, Raises €30M

Following a €30 million Series A funding round, Bitpanda Pro will be rebranded as One Trading. Bitpanda will retain a small stake in the new entity but will continue to operate independently. The round was led by Peter Thiel's Valar Ventures, with participation from MiddleGame Ventures, Speedinvest, Keyrock, and Wintermute Ventures.

🔮 Web 3

  • Velo Labs Raises $10M to Develop "Web3+" Financial Ecosystem

Fintech company Velo Labs has announced the completion of $10 million in financing, with participation from DWF Labs. Velo Labs primarily uses blockchain technology to create a compliant financial ecosystem. The funds will be used to develop its "Web3+" financial ecosystem and promote the global flow of assets in a trustless, formless, borderless, and unlimited manner.

  • ShelterZoom Secures $5M Funding for Web3 Document Management SaaS

Web3 document management software-as-a-service (SaaS) provider ShelterZoom has raised $5 million from undisclosed investors, bringing its total funding to over $17.5 million. ShelterZoom supports the tokenization of document content to protect the ownership of original records, enabling enterprises to track or revoke access to sensitive data. Its Android app is currently available on Google Play.

  • Mind Network Receives $2.5M Series A Funding 

Innovative platform Mind Network, a leader in data security and privacy within the Web3 ecosystem, has raised $2.5 million from investors including Binance Labs, Comma3 Ventures, SevenX Ventures, Hashkey Capital, Big Brain Holdings, Arweave SCP Ventures, and Mandala Capital.

  • Web3 Telecom Services Company Readiitel Raises $2M

Readiitel's funding round was led by 1 in 100 Ventures, co-founded by Rob Lederer, Jason Serda, Kenny Wong, and Trevor Folsom.

  • Adaverse Invests in AI-Powered Web3 Smart Contract Generator Mazzuma

Mazzuma, a Web3 smart contract generator based on artificial intelligence technology, has announced the completion of a new funding round, with participation from Cardano ecosystem investment firm Adaverse. The specific funding amount has not been disclosed yet. The new funds will be used to promote the launch of its new product, MazzumaGPT.

  • Polygon Makes Strategic Investment in Web3 Game Project Delysium

According to Delysium's official Twitter, Polygon has made a strategic investment in the project.

🎉 Others

  • Islamic Coin Secures $200 Million in Latest Funding Round

Islamic Coin, a cryptocurrency project, has announced a $200 million investment from digital asset investment firm ABO Digital. This latest round brings the total funding received by the project to $400 million. Islamic Coin is built on its proprietary Haqq blockchain and is designed to strictly adhere to Islamic financial rules and traditions.

  • Celestial AI Raises $100 Million in Series B Funding

US-based artificial intelligence accelerator product provider, Celestial AI, has completed a $100 million Series B financing round. The round was led by IAG Capital Partners, Koch Disruptive Technologies, and Temasek Xora Innovation Fund.

  • Hong Kong Insurtech OneDegree Secures $27 Million in Funding

OneDegree, one of the first insurtech startups in Hong Kong to obtain a virtual insurance license, has completed a $27 million funding round. Participants include Gobi Venture Partners, Sun Hung Kai, and Bitrock. With this latest round, OneDegree's total financing has exceeded $97 million. The company launched cryptocurrency insurance for the first time in November 2021.

  • CryptoQuant Developer Team Blackbird Raises $6.47 Million in Series A Financing

Team Blackbird, the developer of on-chain data analysis platform CryptoQuant, has announced the completion of an approximately $6.5 million Series A financing round. The round was co-led by Union Square Ventures (USV), Shine Capital, and Multicoin Capital, bringing the team's cumulative financing to 12 billion won.

  • Thai Real Estate Firm Avantis Closes $2.83 Million Series A Funding Round

Thai real estate investment company Avantis has completed a 100 million baht (approximately $2.83 million) Series A financing round, led by J Ventures Company Limited (JVC) and Rende Development Company Limited. Avantis plans to use the new funds to launch a digital asset tokenization platform called "SANGA," which aims to convert land ownership digital contracts into virtual land parcels or NFTs. The company also plans to expand into digital banking, with an expected launch within the next 1-2 years.

  • Blockchain Logistics Startup RENATUS ROBOTICS Raises $2 Million

RENATUS ROBOTICS, a blockchain logistics startup, has announced the completion of a $2 million seed funding round. Participants include Dawn Capital and e-LogiT, an e-commerce logistics company. RENATUS ROBOTICS is developing logistics automation systems such as the RENATUS automated robot warehousing system. The first commercial RENATUS system is currently being installed and is expected to begin operations in the second quarter of 2024. The company is seeking an additional $2 million in a follow-on Pre-A funding round.

  • Blockchain Data Sharing Platform Smarter Contracts Secures $1.095 Million

The investment will enable Smarter Contracts to develop Pulse®, a blockchain-based consent and permissions management platform. The funds will also be used to expand the company's team and establish strategic partnerships.

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