Crypto Fundraises | May 7th - May 14th
Welcome to the Coinfeeds Weekly Fundraising Report! We’re back at it this week, having found 18 funding rounds, collectively worth $177.3 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
LavaNet is a multi-chain RPC network designed to facilitate fast, reliable, and decentralized access to blockchain data. It enables developers to connect to various blockchains without the need for managing individual node infrastructures, using a modular system that scales dynamically. Lava Foundation raised on May 7th a $11 million Strategic round from Animoca Brands, Gate Ventures, Coingecko Ventures, Sandeep Nailwal, CryptoLark, and others.
ZKM is a platform utilizing zkMIPS technology for Verifiable Computing, supporting multiple blockchain applications. It offers the Entangled Rollup Network, enabling blockchains to interoperate and share assets seamlessly without additional security assumptions. ZKM raised on May 7th a pre-Series A round of $5 million led by OKX Ventures and followed by Metis Foundation, Amber, Leland Ventures, Waterdrip Capital, Jsquare, and others.
Glacis Labs provides a multi-chain RPC solution, simplifying and securing cross-chain communications. It offers a plug-and-play system that manages routing, access control, and failover processes to ensure secure, efficient transactions across different blockchain bridges. Glacis raised on May 9th a $2.1 million Seed round led by Arrington Capital and Paper Ventures, and followed by Protagonist, Bitscale Capital, and Edessa Capital.
Arch Network is a Bitcoin-native application platform that leverages Solana’s design principles to enable Turing-complete smart contract execution directly on Bitcoin. It supports innovative contract standards, promoting decentralized applications and token development on Bitcoin's foundational layer. The company raised on May 9th a Seed round of $7 million led by Multicoin Capital, and followed by Portal Ventures, Big Brain Holdings, OKX Ventures, CMS, Tangent, and others.
Arcium is a confidential computing network designed to offer encrypted, parallelized computational capabilities for blockchain applications. It integrates technologies like Multiparty Computation, Homomorphic Encryption, and Zero-Knowledge Proofs to support secure data processing. Arcium raised a Strategic $5.5 million round on May 9th led by Greenfield Capital and followed by Coinbase Ventures, Heartcore web3, Longhash Ventures, L2 Iterative Ventures, Staking Facilities, SMAPE Capital, and others.
Sophon is a modular blockchain that integrates zkSync and Celestia technologies to enhance scalability and security. This platform is designed to enable efficient transaction processing and data availability while maintaining decentralized security. The project raised on May 8th an undisclosed $60 million round.
Lagrange is a platform that enhances blockchain data computations with its ZK Coprocessor, offering hyper-parallel processing and scalable querying capabilities. It allows smart contracts to make SQL queries over a Verifiable Database, supporting dynamic proving and updates. Lagrange raised on May 8th a Seed round of $13.2 million led by Founders Fund and followed by Archetype, 1kx, Maven 11 Capital, Fenbushi Capital, Volt Capital, CMT Digital, and Mantle Ecosystem.
Zeal is a DeFi wallet offering free, instant transfers between wallets and bank accounts, supporting currencies like USDC, GBP, EUR, and NGN. It provides real-time portfolio tracking across all Ethereum-based networks, easy swaps and bridges at the best rates, and integrates seamlessly with MetaMask. Zeal raised on May 9th a Strategic $2 million round led by Gnosis.
AI
Inference Labs is focused on developing AI technologies and applications across various domains. The company specializes in creating machine learning solutions tailored to enhance operational efficiency and drive innovation in sectors like healthcare, finance, and retail. Inference Labs raised on May 8th a $2.3 million Pre-Seed round led by Mechanism Capital, DACM, and Delphi Ventures, and followed by Skynet Trading, Big Brain Holdings, Bitscale, Stateless Ventures, and others.
ChainML is an AI research and development company focused on enhancing AI agent capabilities. It offers Council Analytics, a platform that integrates conversational analytics into software applications via API, and Council, an open-source framework for building reliable and scalable AI agents. ChainML raised on May 13th a Seed+ round of $6.2 million led by Hack VC and followed by Foresight Ventures, Inception Capital, HTX Ventures, Figment Capital, and others.
L2
Telos is a high-performance blockchain network featuring a native Ethereum Virtual Machine (EVM) and Telos's Zero network, both designed for scalability and interoperability. It supports hyper-speed transactions, low gas fees, and offers a robust environment for developing and deploying dApps. On May 8th, Telos raised a $1 million Strategic round led by Presto Labs.
Botanix Labs is a Layer 2 protocol called Spiderchain that enhances Bitcoin by introducing a decentralized EVM-equivalent layer. Spiderchain enables Proof-of-Stake on Bitcoin, offers native yield from decentralized applications, and maintains high security with decentralized multisigs and forward security measures. On May 7th, the company raised an $8.5 million Seed round from Polychain Capital, Valor Capital Group, ABCDE, Placeholder Capital, Andrew Kang, and others.
Social Platform
UXLink is a Web3 social infrastructure platform that enhances real-time interactions and relationships on the blockchain. It offers tools like MPC-AA Wallets for social recovery, SBT for Web3 identity, and group-specific assets through GGraph and Group Wallets. UXLINK raised on May 13th a Seed+ round of $5 million led by SevenX Ventures, Ince Capital, and HashKey Capital.
Trading
Arbelos Markets is a financial services provider specializing in crypto trading and advisory. The platform offers exchange liquidity for spot, options, and futures contracts, along with OTC trading for various financial instruments. Arbelos Markets raised on May 8th a $28 million Private round led by Dragonfly Capital and followed by Selini Capital, Breed VC, Room40 Ventures, FalconX, Circle Ventures, Paxos, and others.
NFT
Galaxis is a platform that enables users to create, manage, and engage with dynamic NFTs and blockchain-based projects. It provides tools for building customizable NFTs that can evolve over time, interact with external data, and unlock new content and capabilities based. The company raised a Private round of $10 million on May 7th from Chainlink, Taisu Ventures, Moonrock Capital, Rarestone Ventures, and Nick Johnson.
DeFi
Zest Protocol is an on-chain lending protocol built for Bitcoin, allowing users to earn or borrow against their BTC through smart contracts that operate on the Stacks blockchain. The platform supports the Bitcoin economy by facilitating credit and leveraging idle capital. The project raised on May 13th a $3.5 million Seed round led by Draper Associates and followed by Binance Labs, Flow Traders, Trust Machines, Asymmetric, Gravity Fund, DeSpread, and others.
Perpetuals
Ambient Finance is a DeFi platform focusing on asset management and optimized yield generation. It uses advanced strategies and algorithms to manage portfolios, enhance returns, and reduce risks for investors. On May 7th, Ambient raised a $2 million Seed round led by Borderless Capital and followed by Solana Ventures, Parami Investors, Sonic Boom Ventures, and Primal Capital.
RWA
AgriDex is a blockchain-based marketplace designed to reshape the global agricultural industry. It utilizes Solana's blockchain to provide a platform for real-world agricultural assets, focusing on reduced transaction costs, near-instant settlement times, and enhanced fraud prevention. On May 9th, AgriDex raised a Pre-Seed round of $5 million led by Endeavour Ventures and followed by African Crops Limited, Oldenburg Vineyards, and Hank Oberoi.