Crypto Fundraises October 26th - November 1st

Welcome to the Coinfeeds Weekly Fundraising Report!

In the week of October 24th, we found 16 rounds totaling $89.8 million, excluding those with undisclosed amounts.

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

DeFi

Ekubo Protocol is a startup building an automated market maker (AMM) on StarkNet with unmatched capital efficiency. The protocol is also extensible with new types of orders, strategy automation, orcale integration, and many other third-party systems. AMM has low fees, which is achieved through Ekubo's optimization of StarkNet-based smart contracts. Moreover, market participants using Ekubo can set price ranges to concentrate their positions. Ekubo raised on October 30th a Private round of $12 million that was led by Uniswap.

Surf Protocol, a permissionless derivative exchange allowing for the trading and listing of over 10,000+ assets, sourced from centralized exchanges or Uniswap. Distinguishing itself from traditional perpetual DEXes, Surf Protocol provides individual liquidity pools for each asset, fostering risk segregation and enhanced liquidity bootstrapping opportunities. Through a unique fee system, liquidity providers compete to offer traders a diverse range of assets at competitive fees. They announced on October 30th that they had raised a $3 million seed round led by ABCDE, and followed by OP Crypto and C2 Ventures.

Anboto Labs, research and trading platform specializing in algorithmic execution tools seamlessly integrated across both CeFi and DeFi ecosystems. Catering to crypto traders, they offer advanced trading features like TWAP, VWAP, and Iceberg orders, smart order routing, and pre/post-trade analysis. With Anboto's platform, traders can execute trades across multiple exchanges, networks, and applications, optimizing for price impact and order execution quality. They announced on October 26th That they had raised a $3 million Seed round at a $35 million valuation from investors including Kronos Ventures, Cherry Crypto, XBTO Ventures, Mechanism Capital, and Matrixport.

De.fi, a platform that allows users to seamlessly connect their wallets, monitor balances across various blockchains, and ensure the safety of their investments. The platform provides detailed insights into token holdings, staked assets, and lending markets, while also offering advanced security features such as smart contract scanning and databases for audit reports and past DeFi exploits. They announced on October 26th That they had raised an undisclosed Private round.

Data

Rymedi is a blockchain-powered healthcare data platform that helps organizations expand labs, increase revenue, reduce costs, and operate in a risk mitigation-driven environment with a competitive edge. Additionally, Rymedi prioritizes patient information privacy, its real-world data is compliant with multiple standards, and the data audit trails are immutable. Their system is based on a double-helix - an architecture made up of two private blockchains and one public key. The company raised on October 25th a $9 million Series A round led by RW3 Ventures and White Star Capital, and followed by Blockchange Ventures and Blizzard Fund.

Decentralized Social

CyberConnect is one of the first and now biggest decentralized social networks that has its own native token called CYBER. The company is developer-friendly and welcomes new builds and contributions from the community, offers different types of community rewards for engagement, and puts censorship resistance, account abstraction, and viable digital identity first. Over 2500 projects and ecosystems already use CyberConnect to power their social and governance operations. CyberConnect raised on October 25th a Private round that Binance Labs led.

Privacy

Nocturne is a web3 privacy protocol previously featured in the weekly Coinfeeds Genesis newsletter. Nocturne brings usable Ethereum-based on-chain privacy through infrastructure that enables private accounts, built-in asset privacy, stealth addresses, and soon, ZKP-powered arbitrary or confidential transactions with ownership proofs. The project raised a Seed round of $6 million on October 25th that was led by Bain Capital Crypto and Polychain, and followed by Vitalik Buterin, Bankless Ventures, and Hack VC.

Governance

Aera - a governance tooling platform whose features achieve risk-aware treasury management in DAOs, making it a safeguard for insolvency and reducer of hedge risks in volatile markets. Their systems are data-driven, heavily automated, transparent, and decentralized, and they help lower the cost of borrowing while increasing capital efficiency. On October 26th, Aera raised a Seed round of $8 million that was led by Bain Capital Crypto and joined by Jump Trading.

Gaming

Moonveil Entertainment - the blockchain gaming company behind AstrArk, an immersive tower defense strategy game that takes place in space and is driven by concepts in sci-fi technology. The game has a strong lore, a variety of "schools" for players to join and characters to play - characters based on a soon-to-launch dynamic NFT ecosystem of in-game items. The company will also soon be launching a loyalty program for its customers. On October 27th, Moonveil raised a $5.4 million Seed round led by gumi Cryptos Capital and Arcane Group, and joined by Longhash Ventures, IOSG, and Infinity Ventures Crypto.

Hytopia, a collaborative video game and developer platform inspired by Minecraft's gameplay. Founded by seasoned members of the Minecraft modding community, HYTOPIA seeks to address Minecraft's creative limitations and offer an enhanced, modernized player experience. The platform is free-to-play, available on both web and desktop. They announced on October 24th That they had raised a $3 million Seed round led by Delphi Ventures.

Shrapnel, a Seattle-based game studio that's creating a first-person shooter game centered around blockchain technology. The game emphasizes user-generated content, allowing players to craft their own in-game items and mint them as NFTs on Shrapnel’s Avalanche subnet. Shrapnel combines traditional gaming with blockchain elements, offering assets like weapon parts, weapons, and cosmetics as NFTs. They announced on October 25th That they had raised a $20 million Series A round led by Polychain and followed by Griffin Gaming Partners, Brevan Howard Digital, IOSG Ventures, and Tess Ventures.

Payments

Access Protocol - a web3 B2B solution for handling different types of subscriptions for multiple platforms in one place. This enables people to build paywalled communities on Discord and Telegram, publish written content like newsletters and blog posts, and mint NFTs. The platform is already being used by dozens of companies like The Block, CoinGecko, and CryptoSlate, as well as individual creators. The project raised on October 27th a Seed round of $1.2 million from DV Ventures, CMS Holdings, Sora Ventures, and Double Peak.

Infrastructure

smlXL - a blockchain infrastructure company focused on building systems that help bring more blockchain accessibility to the public by simplifying the functions involved and developing more user-friendly tooling. The company's working products include EVM.Storage, a block explorer with complete visibility of transaction execution across EVM chains, and EVM.Codes, an interactive guide for EVM opcodes. Soon, they will launch a blockchain querying solution with natural language, and a self-serve-accessible off-chain computation engine iEVM. smlXL raised on October 24th a $13.4 million Seed round led by a16z crypto and Greylock, and followed by Silicon Valley VC, Naval Ravikant, Robert Leshner, and Elad Gil.

Noble, a leading asset issuance chain within the Cosmos ecosystem, designed to provide platforms like dYdX with native access to blue chip assets such as USDC. Addressing challenges like security, liquidity, and compliance, Noble aims to be the primary gateway for digital assets entering the Cosmos ecosystem in a secure and compliant fashion. They announced on October 24th That they had raised a $3.3 million Seed round led by Polychain and followed by Wintermute Ventures, Circle Ventures, Hustler Fund, Interop Ventures.

CeFi

Rulematch, based in Zürich, Switzerland, specializes in providing a digital asset trading solution exclusively tailored for financial institutions. As the digital asset landscape evolves, RULEMATCH remains committed to accelerating trading in this domain, ensuring that it meets the specialized requirements of its institutional participants. They announced on October 25th That they had raised an undisclosed pre-Series A round from investors including ConsenSys Mesh, FiveT Fintech, and Flow Traders.

Identity

The Network State Company, a company aiming to build a prosperous society by aiding individuals in achieving sovereignty. They offer pioneering projects such as 'Baseflow', which provides an avenue to new citizenships. With a profound dedication to sovereignty and governance, their team is driven by the vision of maximizing personal freedoms and creating thriving countries. They announced on October 27th That they had raised a $2.5 million round from investors including Tim Draper, Balaji Srinivasan, Aragon DAO, Sandeep Nailwal, and more.