Crypto Fundraises | August 13th - August 20th

Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 15 funding rounds, collectively worth $202.1 million.

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:

Infrastructure

Essential is a declarative, intent-centric Layer 2 blockchain on Ethereum, using an optimistic rollup. On August 13th, Essential raised an $11 million Series A round led by Archetype and followed by Spartan, Maven 11, Amber, Mirana Ventures, IOSG Ventures, Bodhi Ventures, Selini Capital, and others.

Chaos Labs provides advanced risk management, analytics, and growth tools for DeFi. On August 15th, Chaos Labs raised a $55 million Series A round led by Haun Ventures and followed by Lightspeed Faction, F-Prime Capital, Wintermute, Galaxy, PayPal Ventures, Slow Ventures, and Spartan.

Rhinestone is a platform that transforms smart accounts into a modular system for onchain innovation. On August 14th, Rhinestone raised a Seed of $5 million led by 1kx and followed by CoinFund, Lattice, Heartcore Capital, Circle Ventures, Alchemy Ventures, Cyber, and zkSync.

AI

Rivalz is building a decentralized platform for AI data processing and storage, powered by a modular AI-app ecosystem. The company raised a Private round of $9 million on August 14th led by Delphi Ventures, D1 Ventures, Gate Ventures, Magnus Capital, and Cogitent Ventures, and followed by many others.

CrunchDAO is a collective intelligence platform that enables machine learning practitioners to monetize their models by connecting them to various use cases. The company raised on August 15th a $3.5 million Seed led by Multicoin Capital and followed by Factor Capital, Elixir Capital, and Fabric VC.

Sahara Labs is a decentralized AI blockchain platform that enables individuals and businesses to retain control over their AI assets. Sahara raised $37M, or, as per their site, a total of $43 million in a Strategic round on August 14th led by Pantera Capital and Polychain Capital, and followed by Binance Labs, Samsung Next, Nomad Capital, Foresight Ventures, Canonical Crypto, and others.

L2

Reddio is a high-performance Layer 2 solution for Ethereum, utilizing parallel zkEVM technology to scale computation while maintaining Ethereum-level security. It supports multi-thread parallel execution and GPU acceleration. The project raised on August 13th a Seed round led by Paradigm and Arena Holdings.

Parfin provides advanced digital asset solutions tailored for institutions, enabling them to offer crypto services to their clients. Their "Crypto as a Service" platform offers secure, quick access and full operational control. On August 14th, Parfin raised a $10 million Series A led by ParaFi Capital and followed by Framework Ventures, L4 Venture Builder, and Nuclea.

DeFi

Goldilocks is a DAO that develops custom DeFi infrastructure for Berachain. Its protocol includes Goldiswap, Goldilend, and Goldivaults. Goldilocks raised a $1.5 million Seed on August 15th led by Hack VC and Shims Capital, and followed by Public Works, Atka, Rana, and Iberia Capital.

Satflow is a platform currently in its Beta phase, where users can join a waitlist to earn Satflow Flux Points. These points are awarded based on trading activity and successful referrals. Users receive invites to share with others. Satflow raised a $7.6 million Preseed round on August 14th.

Payments

Sling is a digital wallet that allows users to send money instantly across 50+ countries. Users can connect their bank account or mobile money to the Sling Wallet. Sling raised a $15 million Series A on August 14th led by Union Square Ventures, Ribbit Capital, and Slow Ventures.

Kem is an app that allows users to send and receive money instantly, without any minimum balance or hidden fees. Users can request money by sending a payment request or by having others scan their QR code. Kem raised on August 13th a $3 million Strategic round led by Tether.

DEX

Orderly Network is a permissionless liquidity layer designed for Web3 trading. It offers a powerful SDK for seamless integration. Orderly raised on August 15th a $5 million Strategic round from OKX Ventures, Nomad Capital, Presto, LTP, Manifold, and Origin Protocol.

Digital Identity

Holonym offers "Human Keys," a digital identity solution designed to ensure privacy and security in zero-trust environments. The company raised on August 16th a $5.5 million Seed led by Finality Capital and Paper Ventures, and followed by Arrington Capital, Draper Dragon, Lightshift, Fusion Fund, and others.

Hardware

Fabric Cryptography is developing a new type of chip designed for hardware-accelerated cryptography. Fabric raised a $33 million Series A round on August 19th led by Blockchain Capital and 1kx, and followed by Offchain Labs, Polygon Ventures, and Matter Labs.