Crypto Fundraises | May 21st - May 28th

Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 13 funding rounds, collectively worth $219.55 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

Stripchain is an interoperability protocol focused on making chain abstraction achievable. It supports hyper-interoperable applications, aiming to streamline how different blockchain networks communicate and integrate with each other. On May 22nd, Stripchain raised a Private round of $10.1 million led by Sora Ventures and followed by SantiagoR Santos, Ryan Selkis, Shima Capital, Hypersphere Ventures, Mechanism Capital, and others.

Dora Factory is a decentralized infrastructure platform that supports the global hacker movement by providing tools, protocols, and public good infrastructures. It focuses on empowering open-source communities and technology builders through decentralized governance mechanisms like grant DAOs, fostering innovation and community-driven project funding. The project raised on May 14th a Strategic $10 million round from Nomad Capital, No Limit Holdings, Sky9 Capital, Signum Blockchain Fund, Interop Ventures, and LongLing Capital.

NodeOps is a suite of tools and services designed to manage and optimize blockchain nodes efficiently. It provides an intuitive platform for both individual blockchain enthusiasts and larger organizations to monitor, automate, and enhance the performance of their nodes. On May 27th, NodeOps raised a $5 million Seed round led by L1D and followed by Blockchain Founders Fund, Finality Capital Partners, Oak Grove Ventures, Double Peak Group, Skyland Ventures, Momentum 6, and others.

WeatherXM is a decentralized weather network that combines Internet of Things (IoT) with blockchain technology to deliver accurate, hyper-local weather data. It enables weather station owners to earn rewards through the ERC20 token $WXM while providing detailed weather services to various industries like agriculture and energy. On May 22nd, WeatherXM raised a Series A round of $7.7 million that was led by Lightspeed Faction and followed by Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, and others.

DEX

Aevo is a trading platform that specializes in options, perpetual futures, and various other structured products. Built on a custom Layer-2 solution based on the OP stack, Aevo offers decentralized trading with centralized exchange-like performance. Aevo raised on May 21st a Private round led that was led by Binance Labs.

ELFi is a decentralized exchange protocol that offers ultra portfolio margin trading, supporting a variety of assets like BTC, ETH, and SOL. It features both isolated and cross-margin models, enhancing trading flexibility and capital efficiency. ELFI raised on May 21st a Strategic $5 million round led by IDG Capital and KuCoin Ventures.

L1

MANTRA is a Layer 1 blockchain built to handle real-world assets (RWAs) with a security-first approach. It provides an ecosystem that supports decentralized applications with regulatory compliance, facilitating the tokenization of various assets. Mantra raised on May 23rd a Strategic round led by Laser Digital.

Fantom is a high-performance smart contract platform designed for scalability and efficiency, supporting various decentralized applications. Recently, the Fantom Foundation introduced Sonic Foundation Labs to foster the development of the new Sonic Chain. Fantom raised on May 23rd a Strategic round of $10 million as part of its new initative Sonic Foundation with the Sonic chain.

RWA

Plume Network is a specialized Layer-2 blockchain designed for real-world assets (RWAs). It simplifies the on-chain deployment of assets and fosters a composable ecosystem through DeFi applications. Plume offers built-in integrations for easy project and capital deployment on-chain, and its testnet is currently live. The project raised on May 23rd a Seed round of $10 million led by Haun Ventures and followed by Galaxy, Superscrypt, Selini Capital, Reciprocal Ventures, Portal Ventures, SVA, a_capital, and others.

Social Platform

Farcaster is a decentralized social network/protocol that provides a platform for users to interact securely and transparently across iOS and Android devices. It offers a development-friendly environment with extensive documentation and support for creators looking to build on its network. Farcaster raised on May 21st a $150 million round led by Paradigm and followed by a16z crypto, Haun Ventures, USV, Variant, and Standard Crypto.

DAO Tooling

MetaLeX is a platform designed to provide legal, governance, and operational solutions for the crypto community, especially DAOs. It integrates onchain protocols with offchain legal frameworks to create cybernetic organizations that are agile, effective, and legally compliant. On May 24th, the project raised a Seed round of $2.75 million that was led by Cyber Fund.

Liquid Restaking

KelpDAO is a decentralized organization focused on enhancing liquidity across multiple financial ecosystems. It utilizes innovative strategies and community governance to manage liquidity pools effectively, providing stability and efficient capital deployment for various tokens and assets. The DAO raised a Private $9 million round on May 22nd led by SCB Limited and Laser Digital, and followed by Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, Arkstream, and many others.

L2

LayerEdge is a programmable infrastructure built on Bitcoin, aiming to combine Bitcoin's security with the flexibility of Ethereum's smart contracts. It features near-zero gas fees and high throughput, supporting up to 2000 transactions per second using an optimistic rollup consensus. LayerEdge raised on May 24th a Pre-Seed round from Blockchain Founders Fund, Founderheads, BreakOrbit Ventures, Normie Capital, Paul Taylor, and Saushank.eth.