Crypto Fundraises | April 2nd - April 9th

Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 21 funding round.

Here is the complete, newly published database featuring all of the fundraised companies we’ve found since the launch of this newsletter:

Crypto Startup Fundraises

Below is a breakdown of the number of companies that fundraised by sector:

Missed Last Week

Rails is a ZKP-driven self-custody crypto perpetuals exchange with a state-of-the-art trading engine, simple user interface, a set of advanced trading tools, and a goal to fill the void left by FTX in a proper fashion. The platform also offers high-speed matching for its crypto derivatives and has audited contracts. On March 21st, Rails raised a $6.2 million round from led by Slow Ventures, CMCC Capital, Quantstamp, and Round13 Capital.

Web3

IoTeX is a modular platform designed to support the development and operation of decentralized personal Internet nodes (DePINs), enhancing connectivity and smart device integration across its blockchain network. It focuses on delivering a secure and scalable infrastructure for the Internet of Things (IoT), aiming to bridge physical and digital worlds securely. IoTeX raised on April 2nd a $50 million round from Borderless Capital, Amber Group, Foresight Ventures, Future Money Group, SNZ Capital, Token Metric Ventures, EV3, and Waterdrip Capital.

Legitimate is an NFT tech company specializing in bridging physical products with digital experiences using NFC-powered LGT Tags. These tags ensure product authenticity, prevent counterfeiting, and provide a gateway to unique digital interactions. Legitimate raised on April 3rd a Seed round of $4.3 million led by Lemniscap and followed by Draper Associates, Sfermion, Jeff Miyahara, and Factor Capital.

RootData is a platform designed to provide a visual and structured database of crypto projects. It offers real-time on-chain tracking of entities and comprehensive insights into project and organizational development, including investments and team dynamics. RootData raised on April 5th a $1.25 million Seed round led by NLVC and followed by Boyaa Interactive, Bonfire Union Ventures, Sending Labs, GoPlus Security, Basics Capital, and others.

Moongate offers a modular Web3 engagement layer designed for real-world activations, integrating features like ticketing and membership management. It serves as a platform that bridges digital interactions with physical experiences, streamlining event management and enhancing user engagement. Moongate raised on April 2nd a $2.7 million Seed round led by Titan Fund and followed by Token Bay Capital, Penrose Ventures, RNR Capital, Cogitent Centures, GBV Capital, PHD Capital, wildwood, Felix Xy, Bobby Ong, and other individuals.

L2

Bitlayer is a pioneering security-equivalent Layer 2 solution for Bitcoin, built on the BitVM platform. It is designed to enhance Bitcoin’s infrastructure by introducing key solutions for the ecosystem’s future. Bitlayer supports a variety of community and development activities, including significant airdrops and collaborative opportunities, aimed at advancing the Bitcoin network. On April 3rd, Bitlayer raised a $5 million Seed round led by Framework Ventures and ABCDE, and followed by StarkWare, OKX Ventures, Alliance DAO, UTXO, Asymmetric, KESTREL 0x1, Kenetic, Gate Labs, Web3Port Foundation, Pivot Global, GCR, Quotient, Kronos Ventures, Comma Ventures, and others.

Camp Network is a modular Layer 2 and data layer solution for digital assets across media and entertainment. It features unique data privacy through zk-SNARKs and account abstraction, supporting on-chain data portability. Camp Network promotes ecosystem growth via dApp referrals and supports creators with its ecosystem fund. The project raised on April 2nd a $4 million Seed round led by Maven 11 and followed by OKX Ventures, Protagonist, Inception Capital, HTX, Paper Ventures, Moonrock Capital, Eterna Capital, Selini Capital, and Sreeram Kannan.

LightLink is an Ethereum Layer 2 blockchain that enhances dApps and enterprises by offering instant, gasless transactions. It features Enterprise Mode, enabling gas-free operations through a subscription model that supports a wide array of transactions. Designed for high scalability, LightLink integrates with various technologies and platforms, promoting zero-fee transactions across a vast network. Lightlink raised a Seed+ round of $6.2 million on April 4th from MH Ventures, NxGen, ANBESSA, Eric Cryptoman, Lady of Crypto, SatoshiStacker, That Martini Guy, and Zoran Kole.

UTXO Stack is a development framework by CELL Studio, designed to enhance Bitcoin's Layer1 and Layer2 interoperability through the Nervos BTCKB initiative. It utilizes a "PoW+UTXO" model to facilitate the integration of smart contract capabilities and support diverse asset types, aiming to advance the functionality and connectivity within the Bitcoin and Nervos ecosystems. The company raised on April 4th a Seed round led by ABCDE Capital and SNZ Capital, and followed by CKB Eco Fund, OKX Ventures, Waterdrip Capital, Matrixport, y2z Ventures, DRK Lab, and UTXO Management.

Infrastructure

Sanctum is a platform on Solana that facilitates the trading of LSTs (Liquidity Staking Tokens) with zero slippage, supporting a large volume of trades and numerous LSTs. It offers features like instant unstaking and earning yields through token deposits, aiming to serve as a comprehensive liquidity hub for DeFi. On April 3rd, Sanctum raised a Seed+ round of $6.1 million led by Dragonfly and followed by BOOGLE, davijlu, deni_ersht, kelxyz, Michael Laine, Retired Chad Dev, and mrgnalt.

Zeus Network is a transformative cross-chain communication layer that seamlessly integrates Bitcoin and Solana, facilitating rapid and scalable transactions. It uses a four-step process involving chain-agnostic transaction proposals, programmable signatures, and secure broadcasting to target blockchains. Zeus raised a Seed round of $8 million on April 3rd led by Mechanism Capital and followed by OKX Ventures, Animoca Ventures, Big Brain Holdings, Lemniscap, The Spartan Group, UTXO, Anagram, Portal Ventures, and others.

Lumoz is the first modular prover network for launching zk-rollups, offering cloud infrastructure optimized for ZKP computation across various rollup frameworks. It supports efficient, parallel computation and improved ZKP algorithms, enhancing performance and reducing costs. The company raised on April 8th a $6 million Pre-Series A round from OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Sandeep Nailwal.

AI

Raiinmaker is a platform that harnesses decentralized AI and blockchain to enhance digital identity verification and transaction security within a scalable Web3 infrastructure. It focuses on mobile decentralized personal Internet nodes (DePINs) and aims to revolutionize how users engage with digital and financial services in a secure environment. On April 3rd, Raiinmaker raised a $7.5 million Seed round led by Jump Capital and Cypher Capital, and followed by Gate Labs, MEXC Global, Krypital Group, Alphabit Fund, Launchpool, New Tribe Capital, Axia 8 Ventures, and others.

Ritual is developing a solution that brings AI to the blockchain, enabling protocols, applications, and smart contracts to integrate AI models with minimal coding. It simplifies the incorporation of AI functionalities into decentralized networks, facilitating broader, more versatile usage of AI in blockchain applications. Ritual raised a Strategic round on April 8th led by Polychain.

AgentFi is a platform designed to automate earnings on the Blast network using AI agents. It streamlines the process of optimizing and managing cryptocurrency investments by utilizing advanced AI technology to enhance decision-making and operational efficiency in DeFi applications. The project raised an undisclosed round that was led by Generative Ventures.

DEX

QuantAMM is a Blockchain Traded Funds (BTFs) platform, enabling decentralized asset management similar to ETFs but optimized for crypto assets. These BTFs rebalance automatically, allowing for cost-effective and tailored investment strategies that adapt to volatile market conditions. QuantAMM raised a Pre-Seed round of $1.85 million on April 6th from 8VC, Mako, Marshland Capital, and 369 Capital.

Gasp is a pioneering cross-chain swap platform that facilitates native asset swaps across Ethereum rollups without gas fees and with protection against maximal extractable value (MEV). It ensures security and liquidity through the innovative use of rollup escape hatches and EigenLayer's crypto-economic mechanisms, offering a secure and efficient trading environment. Gasp raised on April 3rd a $5 million Seed round from Polychain Capital, CMS Holdings, Master Ventures, Token Metrics, and Cluster Capital.

DeFi

SatoshiSync is a decentralized platform that creates an open market for Runes and Inscriptions, empowering users to deploy, mint, and manage BRC20 tokens across various blockchains. It offers a no-code, zero-knowledge, and permissionless environment for users to bridge, add liquidity, and capture cross-chain fees. The platform is anchored by its native $SSNC token. SatoshiSync raised on April 3rd a Seed & Private round from Candaq Fintech, MH Ventures, Maven Capital, Covey, ZBS Capital, Ape Terminal, Seedify, Chainlink, and many others.

Ellipsis Labs is building Phoenix - a decentralized limit order book built on Solana, enhancing market operations for spot assets. It offers instant settlement without needing an asynchronous crank, unlike other Solana-based order books. Phoenix supports active liquidity provisioning by market makers due to Solana's high throughput and low fees. Ellipsis raised a Series A round of $20 million on April 4th that was led by Paradigm and followed by Electric Capital, Sreeram Kannan, Justin Drake, Mike Neuder, Ansem, 0xMert, Cobie, and other individuals.

Social Platform

MadFi is a platform that revolutionizes onchain community coordination with crypto subscriptions, rewards, and revenue-sharing. It enables users to create money clubs, offer exclusive content, and generate recurring revenue through crypto subscriptions and content sponsorships. MadFi also supports the trading of Club Chips to earn from transaction fees and yield shares. On April 5th, MadFi raised a $1 million Seed round led by Palm Tree Crew Crypto, Avara, and Social Graph Ventures, and followed by Robert Leshner, Orb.Club, FWBtweets, Fire Eyes DAO, Refraction, Boys Club, Spencer Nood, Sandeep Nailwal, and others.

Payments

Agora is the company behind AUSD, a digital dollar designed to be fully collateralized and freely tradable, aimed at creating a more secure and inclusive financial system. It serves as an instant, low-cost gateway to the global economy, focusing on financial inclusivity and empowering partners such as Dapps, DAOs, and fintechs to expand and create new financial opportunities worldwide. Agora raised on April 2nd a $12 million Seed round led by Dragonfly and followed by Hack VC, General Catalyst, Kraken Ventures, Wintermute, Galaxy, Robot Ventures, Rubik Ventures, Mantle Ecosystem, Foresight Ventures, ConsenSys, Flow Desk, and Breed VC.

Gaming

Today The Game is a digital platform that revolves around a gamified exploration of daily routines, challenging players to navigate through a variety of scenarios reflecting real-life decisions and consequences. The company raised on April 5th a $5 million Seed round led by Sfermion and Big Brain Holdings, and followed by GSR, Collab+Currency, Lingfeng Innovation Fund, Compute Ventures, Builder Capital, Metafest Capital, 32 Bit Ventures, Grail, and others.