Key Points
- Praxis and Blockstream have raised significant funds, with Praxis securing $525 million and Blockstream $210 million.
- Crypto VC funding has increased significantly, particularly as Bitcoin (BTC) reclaimed the $68,000 level.
Praxis and Blockstream have been making waves in the crypto industry due to their substantial fundraising rounds. These companies have raised six-figure amounts, indicating a significant increase in crypto VC funding. This surge in funding comes as Bitcoin (BTC) has once again reached the $68,000 mark.
Top Fundraisers
Praxis, a network state building an online community of individuals with similar national consciousness, led the week’s crypto VC funding. The firm managed to raise $525 million, with major investors including Gem Digital, Arch, and Manifold.
Blockstream, a company developing a crypto-financial infrastructure based on Bitcoin, secured $210 million from lead investor Fulgur Ventures. So far, Blockstream’s total crypto VC funding stands at $621 million.
Other Significant Fundraisers
Azra Games, a gaming studio that creates immersive-role playing games, raised $42.7 million in a Series A round led by Pantera. Yellow Card Financial, a pan-African crypto exchange, secured $33 million in a Series C round led by Blockchain Capital, bringing its total raised funds to $89.5 million.
Towns, a web3 group chat protocol that allows communities to build blockchain-based gatherings, raised $25.5 million in a Series A round. Bitnomial, a US-based crypto exchange that offers futures and options trading for cryptocurrencies, raised $25 million from Ripple in a Series C funding round.
ZkPass, an identity verification solution, raised $12.5 million in a Series A round. Opacity Network, a zero-knowledge proof protocol, raised $12 million in a seed funding round. Solv Protocol, which provides investors with access to crypto investments via a trustless fund infrastructure, raised $11 million. Mento Labs, a platform that creates and operates multi-currency stable assets, raised $10 million.
Several other crypto VC funding rounds of less than $10 million were also reported. These include Predicate, ZeroBase, Drop Protocol, Plasma, Pell Network, Blockcast, The Arena, Hyve DA, Surge, Hermetica, Lombard, World of Dypians, CCData, Bracket Labs, and Marketnode.