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Financing Selection | a16z leads investment in Web3 startup IYK; Pantera Capital leads investment in DeFi derivatives trading platform Avantis Labs.
Summarized by AI
According to BlockBeats statistics, there were a total of 15 financing deals last week, which is consistent with the previous week. The total amount raised was approximately 285.21 million US dollars, with an average financing amount of 19.014 million US dollars. The digital asset management/payment sector was the main focus, followed by infrastructure, and an increase in the metaverse/GameFi sector. The DeFi sector had fewer deals, while there were no financing deals in the NFT/digital fashion, social/creator economy, and other sectors. The following chart shows the financing distribution across different sectors last week:
Metaverse/GameFi
There were a total of 1 financing in the Metaverse/GameFi field, with a total amount of 7.8 million US dollars, accounting for 2.73% of the total financing amount last week.
Fableborne
On September 28th, Fableborne, a blockchain game developed by Web3 game studio Pixion Games, updated its financing information on its social media platform. It stated that it has completed a financing of $7.8 million this year, with investors including Mechanism Capital, VGC, Merit Circle, Eldridge, GSR, Zee Prime Capital, Big Brain Holdings, Builder Capital, Avalanche Foundation's Blizzard Fund, Shima Capital, and ReadyPlayerDAO.
Fableborne is a fast-paced action role-playing game that combines action RPG and base-building genres, developed by Pixion Games. In Fableborne, players can scout new and larger islands, build and reinforce bases, while unlocking and upgrading the echoes of sleeping heroes, raid other players' islands for resources in asynchronous battles, or hone their skills in challenging boss battles.
With new capital inflows and continued support from trusted investors, Pixion Games will make significant progress in the ongoing development of Fableborne. This includes Pixion League (an in-app tournament platform) and turbocharged LiveOps for free games. Earlier this month, on June 27th, Web3 Pixion Games completed a $5.5 million seed round of financing.
DeFi
In the DeFi field, a total of 4 financings were completed with a total amount exceeding 7.5 million US dollars, accounting for 2.63% of the total financing amount last week.
Avantis Labs
On September 26th, DeFi derivative trading platform Avantis Labs completed a $4 million seed round of financing. The round was led by Pantera Capital, with participation from Founders Fund, Base Ecosystem Fund under Coinbase, and Modular Capital. The new funds will be used to develop its flagship product, Avantis, which is a synthetic derivative protocol based on oracles. It provides an advanced, scalable, and capital-efficient DeFi derivative trading and market-making platform with a competitive fee structure and sustainable incentive mechanism, allowing seamless trading across different asset classes (including RWA). Users can trade cryptocurrencies and real-world assets with leverage of up to 100x and earn profits by providing USDC liquidity as market makers.
Avantis allows limited partners to customize their risk exposure and lock up capital for returns, creating a diversified range of risk and return. It leverages the complexity showcased by LPs in Uniswap V3 to transform passive liquidity providers into active risk management participants. Avantis co-founder @0xSehaj is a member of Pantera Capital's investment team, focusing on consumer infrastructure and DeFi, with deep expertise in both traditional and cryptocurrency markets and extensive experience in handling various asset classes.
Zunami Protocol
On September 27th, the decentralized stablecoin yield protocol Zunami Protocol completed its angel round of financing. Investors included Cream Finance, individual investors such as Curve founder Michael Egorov, Convex members known as C2tP and Winthorpe on Twitter, Hubirb on Twitter, as well as other Stake DAO contributors and AladdinDAO core contributor pauls.
Zunami is a decentralized income aggregation protocol that allows users to earn income by staking stablecoins. Its largest stable pool is located on Curve. It has created the Omni pool and issued zStables on it. Currently, two types of aggregated stablecoins have been launched - UZD and zETH.
It is reported that this round of financing will be used for the development and audit of Zunami V2, which is scheduled to be launched in November. Zunami Protocol suffered an attack in August, resulting in a loss of at least $2.1 million.
DeFi Other financing includes:
On September 27th, Bril Finance, a DeFi portfolio management startup, completed a $3 million seed round of financing with participation from FalconX, Kosmos Ventures, and Algorand Foundation. Bril Finance is a decentralized portfolio management platform that uses algorithms and automatic token deployment to adjust user positions. Bril Finance stated that it is being deployed on Sei and hopes to collaborate with leading blockchains, including Ethereum, Base, Avalanche, Polygon, and Arbitrum.
On September 28th, liquidity re-pledging platform Restake Finance completed a $500,000 seed round of financing, with participation from AlfaDAO, DCD, Yields and More, and Moni.
Infrastructure
There were a total of 8 financing deals in the infrastructure sector, with a total amount of over 69.91 million US dollars, accounting for 24.51% of the total financing amount last week.
IYK
On September 29th, according to The Block, Web3 startup IYK completed a $16.8 million seed round of financing, led by a16z Crypto, with participation from 1kx, Synergis Capital, Collabcurrency, Lattice Capital, and gmoney. IYK is a Web3 startup founded in 2021 that provides tools for brands such as Adidas and Johnny Walker to connect the physical and digital worlds. IYK enables brands, musicians, and creators to create digital physical experiences, reward customers and fans, and stay connected with the community. Its products include near-field communication chips that help tokenize physical products and events, including in the form of NFTs. IYK also offers developer APIs and "modules" for further customization of the experience.
IYK co-founder Ouyang said that as part of its growth plan, IYK also hopes to hire its first business development director. Currently, IYK has 10 employees, and Ouyang plans to expand the engineering team in the short term. Ouyang pointed out that the full name of IYK is "If You Know" - the abbreviated version of IYKYK ("If You Know You Know"). "It comes from the need to 'know' that there is a digital universe where you can teleport by interacting with your physical products - a universe that rewards your participation as it evolves over time."
Supra
On September 28th, the oracle and VRF service provider Supra announced that it has completed a financing round of over $24 million. The investors in this round include Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Ventures, No Limit Holdings, Prosus Ventures, Razer.com, Republic Crypto, Shima Capital, Signum Capital, SMO Capital, Sound Ventures, Sublime Ventures, UOB Venture Management (Dahua Bank), and Valor Equity Partners. Joshua Tobkin, CEO and co-founder of Supra, stated that Supra will provide DeFi developers and end consumers with provably fair and high-performance oracle services. According to a report by BlockBeats on August 29th, Supra released its "bridgeless" cross-chain technology HyperNova, which facilitates cross-chain communication through a direct approach based on L1 consensus, without the need for centralized bridges, thus taking an important step in blockchain interoperability.
Fhenix
On September 26th, according to Coindesk, Fhenix, the first blockchain powered by fully homomorphic encryption (FHE), completed a $7 million seed round of financing, with Multicoin Capital and Collider Ventures leading the investment and Node Capital, Bankless, HackVC, TaneLabs, and Metaplanet participating.
Fhenix is the first confidential blockchain driven entirely by fully homomorphic encryption. By using fhEVM, Fhenix enables Ethereum developers to seamlessly build encrypted smart contracts and perform data encryption computations, while using Solidity and other familiar and easy-to-use tools. Fhenix provides developers with outstanding technology to protect private data and perform encrypted computations, thus enabling a range of new and much-needed products in Web3. Fhenix's modular design helps seamlessly integrate fully homomorphic encryption (FHE) computations across all blockchain data layers and easily deploy confidential smart contracts on public blockchains.
Fully Homomorphic Encryption (FHE) is an advanced encryption technology that allows for easy computation of encrypted data without the need for decryption. This makes it possible to deploy confidential smart contracts, ensuring that transaction inputs and states remain encrypted throughout the computation process, or in other words, end-to-end encryption for Web3-based applications. The new funding will be used to introduce a public testnet for the Fhenix network early next year and support ecosystem application development.
Infrastructure's remaining financing includes:
On September 27th, Ethereum network browser Rated announced the completion of a $12.89 million Series A funding round, led by Archetype, with participation from seed investors Placeholder, 1confirmation, Cherry and Semantic, as well as new supporters Robot Ventures, Chorus One, Factor and Maelstrom. Rated Labs currently offers Ethereum network browsers, data APIs and oracles, and plans to expand its products to multiple Layer 1 blockchain networks, including Polygon, Solana, Cosmos and Polkadot next year.
On September 26th, Bitcoin insurance platform AnchorWatch completed a $3 million financing round with Ten31 as the lead investor and participation from Axiom BTC, Timechain, Bitcoin Opportunity Fund, and UTXO Management. With this latest investment, AnchorWatch will be able to meet all regulatory and capital requirements to offer Trident Vault to customers and begin selling policies. Additionally, AnchorWatch will undergo security audits from multiple qualified companies to further solidify Trident Vault as a reliable custody solution for enterprise use. AnchorWatch's proprietary Trident Vault software provides a protocol-native custody solution for Bitcoin holders, backed by high-quality insurance support.
On September 25th, account abstraction developer Pimlico completed a $1.6 million Pre-Seed round of financing, with 1confirmation leading the investment and participation from Safe, Consensys, and over a dozen angel investors. It is reported that Pimlico offers features including ERC-20 token Gas payment, multi-signature schemes, social recovery, and spending limits.
原文链接 translates to
On September 25th, Cygnetise, a blockchain cloud SaaS platform, announced the completion of a £2.5 million Pre-A round of financing. The investment was led by Adjuvo, a UK investment group, with participation from Massive and others. Cygnetise is headquartered in London and is using its digital blockchain technology to improve and optimize the Authorization Signature Management (ASM) process, helping enterprise operations and finance departments to share authorization signatory information with banks and other counterparties in a digital way, thereby improving efficiency, security, and operational excellence.
On October 1st, Tokenize.it, a token-based platform for corporate financing and employee participation, announced the completion of a €2 million seed round of financing. High-Tech Gründerfonds (HTGF), w3fund, Seed + Speed, and a group of business angel investors participated in the round. Tokenize.it provides standardized financing procedures that comply with regulatory requirements for corporate investment transactions by mapping profit participation rights onto tokens. The platform also ensures automated execution of financing transactions based on blockchain smart contract technology, bringing greater trust and transparency. (finsmes)
原文链接 translates to
Original article link in English.
Digital Asset Management/Payment
In the field of digital asset management/payment, a total of 2 financing rounds were completed with a total amount exceeding 200 million US dollars, accounting for 70.12% of the total financing amount last week.
Mercury Fund V
On September 29th, according to bizjournals, venture capital firm Mercury Fund announced that its fifth fund, "Mercury Fund V," has raised $160 million and received oversubscription of $10 million, making it the largest round of financing completed by the venture capital firm to date. Mercury Fund stated that the fund will continue its existing investment strategy and has already invested in emerging innovative organizations such as Brassica Technologies, which provides transfer services for Web3.
数字资产管理/支付其余融资包括：
Translation:
Digital asset management/payment and other financing including:
On September 25th, according to ChainWire, European crypto fund Eureka Partners completed a $40 million financing round with full participation from Nordic Venture Innovations AB. Eureka Partners is a European-based crypto fund, and this round of financing will accelerate its development in the blockchain and cryptocurrency fields.
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