Crypto venture capital is struggling to recover from the bear market in 2023, with a $125 million Blockstream financing, a $60 million QuickNode allocation, and $150 million and $50 million ecosystem funding from Injective and SSV in January. Below are seven more minor venture agreements for the current VC Roundup.
=nil; Foundation closes $22M fundraise.
=nil; Foundation, an Ethereum development startup focused on zero-knowledge (ZK) proofs, raised $22 million from Polygon Capital in January. Foundation raised $220 million to grow its ZK proofs marketplace. The company’s Proof Market data accessibility protocol lets layer-1 and layer-2 blockchains create ZK proofs on demand without centralised intermediaries. Konstantin Lomashuk, the Foundation co-founder, says Proof Market secures data transit between Ethereum and public protocols.
Web3 startup Nillion raises $20 million.
Web3 infrastructure platform Nillion raised $20 million to promote decentralisation without blockchain technology. Big Brain Holdings, GSR, Hashkey, Chapter One, and SALT Fund were among 150 investors. Nillion advocates decentralisation without blockchains but offers a multi-chain wallet compatible with blockchains.
Web3 firm Blocknative raises $15M.
Web3 infrastructure firm Blocknative raised $15 million to promote its Ethereum and public blockchain expansion. The startup, which helps validators improve staking rewards with real-time transaction monitoring, is presenting itself as a post-Merge Ethereum block builder. The funding round involved Foundry Group, Hack VC, Blockchain Capital, Fenbushi Capital, and IOSG Ventures. Blocknative has raised $34 million to date.
#Web3 took center stage in 2022, with 616 individual deals, by far the most.#CeFi, the least popular sector, only closed 201 deals.
Despite this, CeFi received the same amount of VC funding as Web3, with roughly three times the investment per deal! 🤯https://t.co/fYTCURUvaX pic.twitter.com/WfNsrsVz1A
— Cointelegraph Research (@CointelegraphCS) January 27, 2023
Hack VC leads $4.9M seed round.
Hack VC, Uncorrelated Venture, Psalion, Truffle Ventures, and others funded Archimedes’ $4.9 million seed round in February. Leverage takers receive a stablecoin-based NFT in Archimedes’ marketplace. The platform offers 10 times leverage on collateral.
Hyper Oracle closes pre-seed funding.
Sequoia China and Dao5 led a $3 million pre-seed fundraising round for ZK-focused Hyper Oracle. Hyper Oracle claims its blockchain indexing and automation protocols for ZK-proof systems will speed up and secure middleware. Hyper Oracle will increase research and hiring with the funds.
Ethos Wallet gets venture backing.
Boldstart Ventures and Cryptos Capital led Ethos Wallet’s $4.2 million seed round in January. Ethos is a Chrome extension-based crypto and NFT wallet that can access Mysten Labs’ Sui blockchain’s decentralised apps. Mysten Labs secured $300 million for Sui in 2022 from Coinbase Ventures, Jump Crypto, Andreessen Horowitz, and the now-defunct FTX Ventures.
The #crypto Venture Capital database available on the #ResearchTerminal has not only the amounts and dates of each individual deal but also detailed data about investment funds such as their #AUM, founders, and portfolios: https://t.co/78pvKoz2rg
Updated weekly! @Cointelegraph pic.twitter.com/t4mPqNurox
— Cointelegraph Research (@CointelegraphCS) June 6, 2022
VitaDAO raises $4.1M.
There have been more new use cases for DAOs in the industry. VitaDAO secured $4.1 million from Pfizer Ventures, L1 Digital, Shine Capital, and Web3-natives Beaker DAO and Spaceship DAO in January. VitaDAO claimed the financial raising would finance lifespan research and launch a biotechnology firm later this quarter. VitaDAO’s IP-NFT assets, which include therapeutic research project intellectual property and patents, will be commercialised and licensed using the funds.