- The leader in terms of the amount of funding received was the HashKey Group project.
- The funds' attention was focused on the Web3 and blockchain services development sectors.
- Three projects did not disclose the amount of investment.
Between January 13 and January 20, 19 projects attracted investments totaling $271.4 million.
In particular, during the week the following received funding:
- $100 million – HashKey Group. The cryptocurrency exchange operator raised funds in a Series A funding round. The firm did not disclose details of the process or publish a list of investors. Representatives of HashKey Group noted that the company was valued at $1.2 billion. The new funds will be used to expand the holding’s cryptocurrency ecosystem, diversify business products in Hong Kong and innovative development of companies under its control.
- $50 million – Map Protocol. Bitcoin-based L2 protocol received strategic investments from the Bitrise Capital fund. The solution is designed to allow users of other blockchains to interact with the Bitcoin ecosystem.
- $50 million – Flowdesk. The French market maker reported the completion of a Series B funding round, as a result of which its valuation increased to $250 million. New capital was provided to the startup by Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Ripple Labs and Bpifrance. The company intends to use the funds received to hire staff, expand OTC services and obtain licenses in Singapore and the USA.
- $17 million – Klin. The Ethereum staking platform has attracted investments. The funding round was led by the 1kx fund with participation from IOSG, Crypto.com, Wintermute Ventures, KXVC and LBank. The team plans to use the funds to expand its presence in the Asia-Pacific region. The firm will also open a new office in Singapore in the first quarter of 2024.
- $11.2 million – Digital Infrastructure Inc. The company, which is building a decentralized automotive data protocol, announced the closing of a Series A investment round led by CoinFund. Also investing in the firm are Slow Ventures, ConsenSys Mesh, Borderless Capital, Bill Ackman's Table Management and private investors.
- $10 million – Root. The digital identity project Root Protocol has attracted investments estimated at $100 million. The investment round was led by the Hong Kong company Animoca Brands. Shima Capital, CMS Holdings, Digital Strategies, Genblock Capital, Signum Capital, Ankr and other counterparties also took part in the round. The team intends to use the funds to further develop digital identity in Web3.
- $9 million – WOO X. The cryptocurrency exchange has attracted investments. Participating in the funding round were Wintermute, Selini Capital, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber and Riverside Hedge. The team intends to use the funds raised to expand its global market and obtain regulatory licenses.
- $5 million – zbyte. Web3 platform received funding for “blockchain innovation.” The project team also announced the launch of its main network in order to bridge the gap between Web2 and Web3. Cartography Capital became the sole investor.
- $5 million – 0xScope. The project has completed a funding round led by HashKey Capital with participation from Redpoint China, OKX Ventures, GSR Markets, Amber Group, Antalpha, Main Quad Capital, Mask Network, Hash Global and XIN Family. The team intends to use the funds to further develop the ecosystem.
- $3.2 million – Renzo. Ethereum restaking protocol based on EigenLayer has attracted investments. The seed round was led by Maven11 Capital with participation from Figment Capital, SevenX Ventures, IOSG Ventures and others. Renzo plans to conduct additional audits of its protocol, increase rewards under the bug bounty program on the Immunefi platform, and integrate with other DeFi protocols. In addition, the startup plans to increase the size of its team to approximately ten people.
- $3 million – AOFverse. Web3 mobile games studio completed private funding round led by Animoca Brands with participation from Liquid X Ventures, Chainridge VC, Ticker Capital, Flying Falcon and BSCN Gaming Ventures. The company is committed to implementing its mobile gaming initiatives on Web3.
- $2.4 million H Safari. Web3 alternative to Google Analytics announced on the successful completion of the previous funding round, led by Lemniscap with participation from Arca, SevenX, Big Brain Holdings, Saison Capital, Diaspora Ventures and private investors. The new capital will be used to strengthen Safari's team and accelerate the development of its “marketing attribution platform.”
- $2.3 million – Canza Finance. Blockchain company targeting the South African market announced on the completion of a strategic financing round led by Polychain Capital. Other investors included ProtocolLabs, AvaLabs, 99 Capital, BitscaleCapital, StratifiedCap and ContangoDigital. The funds will be used to further develop Canza Finance's tools and services to reduce the cost of doing business on the African continent.
- $1.5 million – Fetcch. Web3 payment platform received investment from a previous funding round co-led by AppWorks Venture and Hashkey Capital, with participation from LD Capital, Compute Ventures, M6 and GravityX Capital. The company said the funding will be used to develop products in Web3 and “exploit Web2.5.”
- $1 million – Wield. Startup closed previous seed funding round led by Lemniscap fund with participation from private investors. Wield is part of the Farcaster ecosystem, which aims to provide innovative solutions in the blockchain and cryptocurrency space. The new capital will be used to further develop the project and expand offerings.
- $500,000 – Four Pillars. Blockchain startup received investments from Kakao Ventures, Hashed and Bass Investment. The company helps enterprises effectively implement blockchain technology into their solutions.
A number of other projects have attracted funding, but have not reported the amount of investment.
Portal Ventures Fund invested to the Rome Protocol.
Market maker DWFLabs did strategic investment in Web3 messaging platform Beoble. The team uses the received capital to develop the project.
InTax startup, providing tax advice to Web3 companies, closed a financing round in which only angel investors took part. The InTax team consists of specialists who have experience in the field of tax compliance in relation to crypto assets.
Top 5 funds by number of investments in the period from January 13 to 20, according to data CryptoRank:
During the week, projects in the following segments attracted funding: Web3, blockchain services, blockchain infrastructure, GameFi, DeFi, CeFi, and others.
Let us remind you that since the beginning of 2024, 34 projects have attracted $108.7 million in investments.
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