Crypto Fundraises | February 20th to February 27th

Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 19 funding rounds.

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

Infrastructure

Clave is a company revolutionizing on-chain finance by offering a seamless and secure wallet experience. Utilizing account abstraction technology, it simplifies crypto transactions, allowing users to pay gas fees with any token and share assets via links. Clave provides hardware-level security through Passkeys and biometric authentication, making global money transfers simple with user-friendly features like usernames and social recovery. Clave raised on February 22nd a Pre-Seed round of $1.6 million led by Matter Labs and followed by LambdaClass, Safe Ecosystem Fund, Mirana Ventures, Sandy Peng, Kofi, Raj Parekh, Kristof Gazso, Turan Sert, and other individuals.

Startale Labs is a web3 infrastructure project dedicated to public goods, focusing on dApps and infrastructure development, research & development in Web3 technologies and token economics, and incubating Web3 startups to foster innovation and ecosystem synergy. Their mission is to enable an open, decentralized, and trust-free society through technologies like the Astar Network and Swanky Suite, tools aimed at enhancing the capabilities of multi-chain smart contracts and providing comprehensive solutions for WASM smart contract developers. Startale raised on February 22nd a Seed+ round of $3.5 million from UOB Venture Management and Samsung Next Ventures.

Citrea is a startup pioneering rollup utilizing zero-knowledge technology to extend Bitcoin's capabilities, allowing the construction of complex applications directly on Bitcoin without altering its consensus rules. As a Type 2 zkEVM, Citrea enhances batch processing with succinct zero-knowledge proofs for efficient verification and integrates with the Bitcoin network via BitVM for optimistic proof verification. On February 21st, Citrea raised a $2.7 million Seed round that was led by Galaxy and joined by Delphi Ventures, Eric Wall, Anurang Arjun, Igor Barinov, VelvetMilkman, James Parillo, and BatuX.

EigenLayer is an established platform enhancing Ethereum's scalability and security through shared security models. It enables ETH staking across multiple protocols for crypto-economic security beyond Ethereum, benefiting from protocol fees and rewards. The company raised on February 22nd a $100 million Private round led by a16z crypto.

Avail is a blockchain infrastructure layer focused on accelerating the unification of Web3. It provides modular execution layers to scale and interoperate in a trust-minimized way. Avail DA serves as the foundational layer for next-generation trust-minimized applications. Nexus is a permissionless verification hub aiming to unify rollups and chains, while Fusion Security ensures unified economic security. Avail raised a $27 million Seed round on February 26th that was led by Founders Fund and Dragonfly, and followed by Nomad Capital, SevenX Ventures, Figment Capital, Balaji Srinivasan, Sunny Aggarwal, Mudit Gupta, Amrit Kumar, and Aschwin R.

Inco is a modular confidential computing network and the universal confidentiality layer of Web3. It uses Fully Homomorphic Encryption (FHE) and Ethereum to enable developers to create decentralized applications (dApps) with confidentiality. Users can store encrypted data directly on-chain, perform operations on encrypted data without decryption, and generate on-chain randomness. On February 21st, Inco raised a Seed round of $4.5 million led by 1kx and followed by Circle Ventures, GSR Ventures, Polygon Ventures, Robot Ventures, Alliance DAO, Matter Labs, Portal Ventures, Daedalus, Big Brain Holdings, Symbolic Capital Partners, and others.

Singularity is an institutional-grade DeFi access layer that enables on-chain transactions with commercial confidentiality. It is a KYB/KYC permissioned platform providing access to popular protocols for on-chain participants to transact with obfuscated wallet addresses. Singularity supports a range of non-custodial wallets like Metamask, Fireblocks, and Gnosis Safe, using advanced zero-knowledge technology developed with Noir. Powered by the Keyring Network, Singularity's zero-knowledge compliance oracle allows users to verify their wallets without linking their identity, maintaining anonymity while becoming compliant. Singularity raised on February 23rd a $2.2 million Private round led by Gumi Cryptos Capital and followed by Nomura Laser Digital, Eureka Partners, Apollo Crypto, DACM, and Gandel Invest.

Data

Helika is a Web3 gaming analytics platform providing solutions for game studios to build, grow, and optimize their games. It offers comprehensive analytics across UA, marketing, game management, on-chain data, and social media, enabling studios to make data-driven decisions, optimize ad spend, and enhance player lifetime value (LTV) through deep insights into game performance and player behavior across multiple blockchains. The company raised an $8 million Series A round on February 20th that was led by Pantera Capital and followed by Sparkle Ventures, Diagram Ventures, Sfermion, Spencer Tucker, Damon Gura, and Marc Alloul.

DeFi

Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer, designed to simplify the process of securing Actively Validated Services (AVSs) and earning higher yields than traditional ETH staking. It acts as a user-friendly interface to the EigenLayer ecosystem, abstracting complexities for end-users and facilitating collaboration between them and EigenLayer node operators. The project raised on February 22nd a Private round that was led by Binance Labs.

INIT Capital is the company behind the Liquidity Hook Money Market, a platform where users can lend, borrow, and access yield strategies effectively. Utilizing Liquidity Hooks, allows for generating yield on holding assets, bootstrapping liquidity, and managing positions through an all-in-one dashboard. This innovative approach offers a range of yield strategies, including looping, margin long/short, and leverage farming with varying APYs, designed to leverage INIT's user base for exponential growth. INIT raised on February 21st a Seed round of $3.1 million led by Electric Capital and Mirana Ventures, and followed by Maelstrom, Robot Ventures, Nomad Ventures, Tangent, Bankless Ventures, Selini Capital, Faction, Julian Koh, David Choi, and other individuals.

ZeroLend is a leading lending market on Layer 2 solutions, offering a user-friendly and frictionless lending experience to onboard the masses into DeFi. It provides metrics based on zkSync, boasting a market size of $104M, a total value locked of $59.9M, and 279.6K unique active addresses. ZeroLend raised on February 21st a $3 million Seed round from Momentum 6, Blockchain Founders Fund, Morningstar Ventures, Banter Capital, Newman Capital, dVdT, Transform Capital, Cypher Capital, Bison Fund, Ozaru Ventures, iAngels, and others.

Developer Tools

Delphinus Lab is a project that specializes in bridging Web2 and Web3 by offering solutions for trustless computation and application SDK based on the ZKWasm virtual machine. They focus on creating a Web Assembly virtual machine that supports ZK-SNARK proofs, allowing execution results to synchronize with layer1 blockchains. Additionally, Delphinus Lab develops ZK-Relayer and ZK-WASM-SDK to facilitate trustless message communication and support generic programming. Delphinus Lab raised on February 26th a Pre-Series A round from OKX Ventures, Hashkey Capital, SevenX Ventures, Generative Ventures, and Bas1s Ventures.

Helius is a leading RPC and API platform for Solana, offering high-performance, reliable infrastructure for developers. It includes a suite of tools such as Solana RPC Infrastructure, APIs, Webhooks & WebSockets, and more, to empower wallet infrastructure, DeFi, payments, and NFT projects. Helius raised on February 22nd a Series A round of $9.5 million led by Foundation Capital and followed by Reciprocal Ventures, 6th Man Ventures, Chapter One, and Propel VC.

AI/ML

Talus is an upcoming AI Smart Agent Hub aiming to democratize access to artificial intelligence by leveraging blockchain technology. It focuses on creating a free marketplace for exchanging data, model rights, and computational resources, fostering a decentralized AI ecosystem. On February 26th, Talus raised a $3 million Seed round led by Polychain Capital and followed by Dao5, Hash3, TRGC, WAGMI Ventures, and Inception.

Governance

Superfluid is a groundbreaking asset streaming protocol that facilitates real-time financial transactions like subscriptions, salaries, vesting, and rewards for DAOs and crypto-native businesses. It enables continuous, second-by-second payment streams, transforming the way assets are transferred and managed in the digital economy, ensuring a seamless flow of tokens directly into wallets. On February 22nd, Superfluid raised a Strategic round of $5.1 million led by Fabric Ventures and followed by Multicoin Capital, Circle Ventures, Safe Ecosystem Foundation, The Lao, and Taavet+Sten.

Payments

Meso is a native web3 payment network designed to streamline and secure transactions within the digital economy. It focuses on providing a robust infrastructure for seamless payments, leveraging the benefits of blockchain technology to offer efficient, transparent, and accessible financial services. Meso raised on February 20th a $9.5 million Seed round led by Solana Ventures and Ribbit Capital and followed by Canonical Crypto, 6th Man Ventures, Chris Kalani, Bill Ready, and Archie Puri.

Wallets

Nest Wallet is a wallet designed for traders, offering on-chain trading tools for both beginners and professionals. Built by traders for traders, it provides a hot trading window integrated with DexScreener & Birdeye, P&L tracking for token positions, and support for limit orders on any Dex/Token. Security is a top priority, with features like built-in simulation on messages, in-app support for Safe{Wallet}, passkey, and biometric signing on mobile. On February 20th, Nest Wallet raised a Seed round of $3.6 million from Inception, Ascensive Assets, SNACKCLUB, Orange DAO, gumi Cryptos, INCE Capital, Steve Chen, Kevin Lin, Gabby Dizon, Sebastien Borget, Kun Gao, Patrick Lee, naniXBT, and Jamie Lin.

Betting

Shuffle.com is a crypto casino and VIP betting platform offering a wide range of gambling options including casino games, sports betting, and live casino experiences. It emphasizes provably fair gaming, ensuring transparency and fairness in all its offerings. With a variety of games from slots to table games and game shows, Shuffle caters to a diverse audience of online gamblers. The platform is regulated by the Government of Curaçao. The company raised a $2.5 million Seed round on February 23rd from Karatage, Cypher Capital, Sunforge, ODA Capital, Wizards Capital, Upside, Parc Capital, Baboon VC, CL207, Andrew Kang, Tristan Ver, and several other individuals.

Gaming

Crystal Fun is a decentralized gaming mega-ecosystem and studio focused on integrating high-quality games within a sustainable economic framework for Web3. It features games like OUTER, an AAA sci-fi MMO; Endless War, a full on-chain sci-fi strategy game; STARFALL2312, a sci-fi card-based RTS; and Survivor, a roguelike shooting game, each contributing to a diverse and immersive gaming experience. On February 20th, Crystal Fun raised a $5 million Seed round from KuCoin Venture Management, Waterdrip Capital, Comma3 Ventures, Stratified Capital, Cypher9 Ventures, Aelf, W Labs, and Masverse.