Crypto Fundraises May 30th - June 7th

In the week of May 30th, we found 7 rounds totaling $109.85 million, excluding those with undisclosed amounts.

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

Music

Spinamp, a Winamp-inspired cross-platform music player infused with web3 features, as well as the common functionality found in music platforms like recommendations, trends, activity tracking, and more, raised on June 1st a Seed round of $1.25 million that was led by Palm Tree Crew Crypto, and followed by Coop Records, Archetype, NoiseDAO, Fire Eyes DAO, 1kx, and a series of angels.

Developer Tools

Magic Labs, a company building an SDK suitable for the creation of non-custodial, hyper scaled web3 wallets infused with multiple onboarding features like NFT checkout, fiat on-ramps, galleries, Google One Tap, and even enterprise-grade white label wallet solutions with 10+ auth methods, raised on May 31st a Strategic round of $52 million that was led by PayPal Ventures, and followed by Cherubic Ventures, Synchrony, Northzone, Volt Capital, and Kx Technology Fund.