Crypto Fundraises | August 27th - September 3rd

Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 14 funding rounds, collectively worth $142.1 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:

Gaming

Legend of Arcadia is a blockchain-based casual strategy card game offering diverse game modes, including PvE adventures, PvP tournaments, and daily missions. The company raised on Aug 30 a $4M Seed from Animoca Brands, Selini Capital, OKX Ventures, and Arche Fund.

Echelon Prime powers blockchain-enabled games, starting with Parallel TCG, utilizing the PRIME token to enhance gaming experiences. Echelon raised on Aug 27 a $3.5M Seed led by Amber Group and followed by Laser Digital, Saison Capital, Interop Ventures, 280 Capital, Cypher Capital, SeraFund, Selini Capital, DCF God, LayerZero, and others.

Gameplay Galaxy is a Web3-based extreme sports gaming ecosystem that integrates NFTs. On Aug 27, they raised an $11M Seed+ led by Blockchain Capital and Merit Circle.

Data

Space and Time is a data platform that combines blockchain indexing, data warehousing, and API services, secured by a sub-second ZK coprocessor optimized for SQL. On Aug 27, they raised a $20M Series A led by Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind, and followed by M12 Microsoft Venture Fund, DCG, F Prime, OKX, Circle, and Alumni Ventures.

Adot is a decentralized AI search tool designed for Web3 discovery, offering a fast and comprehensive search experience. Adot raised on Aug 30 a Strategic round led by Aptos.

NFT

Time.fun is a tokenization platform focused on transforming files into digital tokens. They raised on Aug 29 a $3M Seed led by Brevan Howard Digital and followed by Coinbase Ventures, Zee Prime Capital, Advancit Capital, Breed VC, Palm Tree Crypto, and several individuals.

AI

Edge Matrix Chain offers a distributed computing infra using GPUs for AI applications and supports DeAI app development through its EMC Hub. On Aug 29, they raised a $20M Private round led by P2 Ventures and Amber Group, and followed by One Comma, Cyberrock Venture Fund, and Kapley Judge and Associated Corporations.

L1

Quai Network is a PoW L1 designed for scalability and programmability. It introduces an energy-based stablecoin tied to energy costs. Quai raised a Strategic $5M round on Aug 29 from MH Ventures, Cogitent Ventures, Giga Chad Ventures, TPC Ventures, and DexCheck Ventures.

Developer Tools

Bridge offers stablecoin orchestration and issuance services, providing developers with a simple API to convert between fiat and various stablecoin formats like USDC or USDP. They raised on Aug 29 a Private $58M round from Sequoia, Ribbit Capital, Index Ventures, and Haun Ventures.

Infrastructure

Soon is a high-performance rollup stack using the decoupled SVM built on the OP Stack. It supports over 600k TPS, has a 400 ms block time and under $0.01 fees. SoonSVM raised a Strategic round on Aug 27 from many individual investors.

Web3

Legion is a platform designed to provide equal access to early investment opportunities in promising crypto projects. It connects network participants with compliant, incentive-aligned investments before and during token launches. They raised on Aug 27 a $2M Seed led by Cyber Fund and followed by CoinGecko, Delphi Labs, AllianceDAO, and several individuals.

DeFi

Odos is a decentralized smart order routing solution that connects with over 900 liquidity sources across multiple blockchains to find the best rates for token swaps. On Aug 30, they raised a Series A from Uniswap Labs Ventures, Curved Ventures, Orbs, Mantle, PAKA, and CE Innovation Capital.

Stablecoin

Level is behind lvlUSD - a dollar-pegged stablecoin powered by restaked USDC, allowing users to earn multiple yields simultaneously, including rewards from protocols like Aave. Level raised on Aug 29 a $3.6M Private round led by Polychain and Dragonfly, and followed by Robot Ventures, Pier Two, EIV, Global Coin, GCR, Balaji, and others.

Liquid Restaking

Solayer is a restaking network on Solana that allows users to secure the Solana blockchain and dApps while earning multiple streams of yield. At an $80M valuation, Solayer raised a $12M Seed led by Polychain and Hack VC, and followed by Maelstrom, Big Brain Holdings, Nomad Capital, ABCDE, Finality Capital Partners, and others.