Tensor, which brands itself as "the Blur of Solana," raised $3 million in a seed funding round.

Placeholder VC led the round, with Solana Ventures, Alliance DAO, Big Brain Holdings, Solana co-founders Anatoly Yakovenko and Raj Gokal, and others participating, Tensor said Tuesday.

Tensor was founded last year and started raising for the seed round in November when FTX collapsed and crypto prices plunged. "Needless to say, our initial investor calls were tough, to say the least," Tensor co-founder Ilja Moisejevs told The Block. But the startup closed the round within a few months, which is an equity-plus-token-warrants round, according to Moisejevs.

(By Yogita Khatri)