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DEC 10, 2023

Fundraising of the Week: Dec 04-10

by Nova Research

Welcome back to Nova Research's 'Fundraising of the Week,' where we spotlight the latest advancements in cryptocurrency fundraising from December 4th to 10th.

Discover the latest in crypto fundraising with Nova Research's Weekly Roundup

From December 4th to 10th, the cryptocurrency space witnessed a dynamic showcase of significant fundraising activities. Join us as we explore the prominent highlights of the week, unveiling the exciting developments that have left a lasting impact on the landscape of crypto fundraising.ΓΉ

Crypto Fundraising Deep-Dive

In the previous week, the cryptocurrency industry witnessed a notable upswing in fundraising, reaching an impressive total of $285 million across 24 projects. This surge in fundraising activity was widespread, with the Finance/Banking sector taking the lead, followed by other sectors including Payment, Derivatives, CEX, and more.
Overview of the week
Overview of the week

Spotlight on Projects

Babylon
Babylon
Babylon: Groundbreaking initiative in the realm of Bitcoin staking infrastructure, leading the way with a revolutionary staking protocol designed to bolster the security of Proof of Stake (PoS) networks and decentralized applications (DApps). This forward-thinking protocol empowers Bitcoin holders to engage in staking, thereby earning rewards while fortifying the security of PoS chains and DApps.
Chain: Bitcoin
Category: Staking
Round: Unknown
Funds Raised: TBD
Date: Dec 4th 2023
Lead Investors: ABCDE Capital
SourceπŸ”—
Babylon
Babylon
Babylon: Groundbreaking initiative in the realm of Bitcoin staking infrastructure, leading the way with a revolutionary staking protocol designed to bolster the security of Proof of Stake (PoS) networks and decentralized applications (DApps). This forward-thinking protocol empowers Bitcoin holders to engage in staking, thereby earning rewards while fortifying the security of PoS chains and DApps.
Chain: Bitcoin
Category: Staking
Round: Series A
Funds Raised: $18M
Date: Dec 7th 2023
Lead Investors: Polychain Capital , Hack VC
SourceπŸ”—
Candlestick
Candlestick
Candlestick: Candlestick is a crypto opportunity radar that provides actionable trading signals and predictions tailored for alpha traders. Drawing insights from over 40 decentralized exchanges (DEXs), it offers investors in-depth on-chain analytics, monitoring smart money trades, insider activity, and token liquidity. This comprehensive analysis unveils market trends and opportunities, presented through a user-friendly interface suitable for both novice and experienced investors.
Chain: BNB Smart Chain, Ethereum, Polygon
Category: Analytics, Data Service
Round: Pre-seed
Funds Raised: $1.2M
Date: Dec 4th 2023
Other Investors: WAGMI Ventures, Orange DAO
SourceπŸ”—
Carv
Carv
Carv: Pioneering Web3 identity startup, Carv is in the process of developing a Web3 ID solution that seamlessly integrates web2 and web3 gaming data. This innovative approach aims to craft distinctive user IDs by merging information from both web2 and web3 gaming realms.
Category: Data Service, Gaming, Identity, Infrastructure
Round: Private Sale
Funds Raised: TBD
Date: Dec 4th 2023
Lead Investors: Hashkey Capital
SourceπŸ”—
Curvance
Curvance
Curvance: Decentralized finance (DeFi) platform, streamlining stablecoin deposits, earnings, and borrowing to tackle fragmentation across chains and protocols. The platform extends support to diverse Layer 2 solutions and decentralized exchanges, offering users avenues to enhance yield and optimize capital efficiency in the expansive DeFi ecosystem. With an adaptive rate model, versatile borrowing choices, and a steadfast commitment to compliance, Curvance is actively shaping the trajectory of stablecoin utilization within decentralized finance.
Category: DeFi, Interoperability
Round: Seed
Funds Raised: $3.6M
Date: Dec 4th 2023
SourceπŸ”—
Endless Clouds (Treeverse)
Endless Clouds (Treeverse)
Endless Clouds (Treeverse): A notable game development studio, credited for the creation of Treeverse, Capsule Heroes, and Timeless. Notably, Treeverse, one of their flagship projects, stands out as a pixel-themed metaverse MMORPG. This game places a strong emphasis on player socialization, resource gathering, character progression, and engaging dungeon-based combat experiences.
Category: Gaming, Metaverse, P2E
Round: Unknown
Funds Raised: $2.5M
Date: Dec 4th 2023
SourceπŸ”—
Inspect
Inspect
Inspect: On-chain analytics platform that delivers up-to-the-minute insights for tokens, NFTs, and traders, enabling well-informed decision-making in the ever-evolving crypto environment. Equipped with customizable dashboards and robust search tools, Inspect empowers users to monitor metrics, discern trends, and unveil concealed patterns within blockchain data.
Category: Analytics, DApp, Data Service, NFT
Round: Private Sale
Funds Raised: TBD
Date: Dec 4th 2023
Investors: Beam, Merit Circle 
SourceπŸ”—
MAP Protocol
MAP Protocol
MAP Protocol: A transformative Bitcoin layer-2 solution and an interoperable omnichain infrastructure, reshaping cross-chain communication. Utilizing light clients and zero-knowledge technology, MAP facilitates trustless, peer-to-peer interaction across blockchain networks. This empowers developers to construct decentralized applications (dApps) that seamlessly span multiple blockchains, fostering a unified Web3 ecosystem.
Category: Infrastructure, Interoperability, Zero-knowledge
Round: Private Sale
Funds Raised: TBD
Date: Dec 7th 2023
Lead Investors: Waterdrip Capital
SourceπŸ”—
Mocaverse
Mocaverse
Mocaverse: A gamified metaverse product by Animoca Brands, introduces unique Moca beings that users can collect, play with, and trade as NFTs. Within the Mocaverse, users have the opportunity to explore, engage in challenges, customize their Moca beings, and actively contribute to its development through governance participation.
Category: Gaming, Marketplace, Metaverse, NFT, P2E
Round: Unkonwn
Funds Raised: $11.88M
Date: Dec 8th 2023
SourceπŸ”—
Poglin
Poglin
Poglin: A multi-faceted intellectual property encompassing video games, anime, comics, and merchandise, providing a rich and captivating experience. Established by industry veterans with a proven history of delivering products to a vast gaming audience, Poglin is an innovative game company headquartered in Tokyo and San Francisco, committed to crafting immersive gaming experiences.
Category: Gaming
Round: Seed
Funds Raised: $3M
Date: Dec 8th 2023
Lead Investors: Animoca Brands
SourceπŸ”—
Pyth Network
Pyth Network
Pyth Network: An innovative price oracle solution harnessing blockchain technology to deliver crucial financial market data on-chain, catering to projects, protocols, and the broader public. With a robust network comprising more than 70 trusted data providers, Pyth aggregates first-party price data, prioritizing accuracy and reliability. The platform incentivizes ongoing price updates and endeavors to integrate this data into decentralized finance (DeFi) applications, thereby advancing transparency and accessibility within the financial ecosystem.
Category: Infrastructure, Interoperability, Oracle
Round: Private Sale
Funds Raised: TBD
Date: Dec 5th 2023
SourceπŸ”—
QANplatform
QANplatform
QANplatform: A quantum-resistant Layer 1 hybrid blockchain, empowering the creation of diverse decentralized solutions such as smart contracts, DApps, DeFi, NFTs, and tokens, all while supporting the use of any programming language. The platform places a premium on rapid adoption, achieved through seamless integration with widely utilized technologies, cloud platforms, and existing programming languages. Notably, QANplatform maintains compatibility with Ethereum EVM, facilitating a smooth transition for projects from Ethereum to its quantum-resistant infrastructure.
Category: Infrastructure, L1
Round: Unknown
Funds Raised:$15M
Date: Dec 5th 2023
Lead Investors: MBK Holding
SourceπŸ”—
Rhinestone
Rhinestone
Rhinestone: A next-generation smart account ecosystem, placing emphasis on modularity, interoperability, and security. With its standardized protocol, developers can effortlessly build and deploy custom functionalities, offering a personalized and secure experience for wallet users. The platform also supports interoperability with widely used smart account solutions, promoting a collaborative and open-source approach to development.
Category: Infrastructure, Smart Contract Platform
Round: Pre-seed
Funds Raised: TBD
Date: Dec 7th 2023
SourceπŸ”—
Shadow  
Shadow  
Shadow: An emerging startup in the crypto data platform domain, concentrating on streamlining engineering efforts and minimizing costs associated with advanced on-chain data indexing and analytics, with a specific focus on Ethereum. The platform empowers users to enhance smart contracts by incorporating custom event logs and view functions. This capability not only facilitates gasless interactions but also furnishes efficient tools for on-the-blockchain data indexing and analytics.
Category:Analytics, Data Service
Round: Seed
Funds Raised: $9M
Date: Dec 5th 2023
Lead Investors: Paradigm
SourceπŸ”—
Sindri Labs
Sindri Labs
Sindri Labs: Sindri Labs is in the process of constructing a zero-knowledge infrastructure platform designed to streamline access to hardware acceleration for Zero-Knowledge Proof (ZKP) generation via its API. This platform proves advantageous for developers engaged in various domains, including blockchain Layer 2s, zkML projects, and ZK researchers. Leveraging Sindri's cloud infrastructure offers developers high-performance capabilities, enhanced reliability, cost savings, and flexibility in seamlessly integrating the latest proving schemes for a myriad of use cases.
Category: Infrastructure, Zero-knowledge
Round: Seed 
Funds Raised: $5M
Date: Dec 7th 2023
Lead Investors: CoinFund
SourceπŸ”—
Sona
Sona
Sona: A pioneering Web3 streaming protocol, is reshaping the music industry by placing a strong focus on artist compensation and fan engagement. Through its distinctive rewards model, auctions, and ad-free streaming, Sona's innovative approach empowers artists, cultivates closer connections with fans, and establishes a fairer and more sustainable music ecosystem.
Category: Art, Marketplace, Music, NFT
Round: Seed 
Funds Raised: $6.9M
Date: Dec 6th 2023
SourceπŸ”—
StarryNift
StarryNift
StarryNift: Gamified massive co-creation Web 3.0 platform and launchpad designed for entertaining digital collectibles seamlessly integrated with the metaverse, converging multiple worldviews.
Chain: BNB Smart Chain, Ethereum
Category: Gaming, Metaverse, NFT
Round: Unknown
Funds Raised:TBD
Date: Dec 7th 2023
SourceπŸ”—
Swan Bitcoin
Swan Bitcoin
Swan Bitcoin: Financial services firm committed to streamlining long-term Bitcoin investment through a user-friendly platform. By offering automated savings plans and expert guidance, Swan simplifies the entire process of buying, selling, and managing Bitcoin. Prioritizing security and transparency, the platform provides educational resources, empowering users and making Bitcoin more accessible to a broader audience.
Chain: Bitcoin
Category: Finance/Banking, Payment
Round: Unknown
Funds Raised: $165M
Date: Dec 7th 2023
Investors: TBA
SourceπŸ”—
SYMMIO
SYMMIO
SYMMIO:  Revolutionizing OTC derivatives trading through Symmetrical Contracts, an innovative trustless and permissionless blockchain solution. The platform's intent-centric architecture and peer-to-peer model are designed to guarantee equal treatment for both liquidity providers and traders. This approach results in a hyper-efficient and secure digitalized derivatives trading experience, marking a significant advancement in the landscape of OTC derivatives trading.
Category: Derivatives, Trading
Round: Unknown
Funds Raised: $1.1M
Date: Dec 5th 2023
Lead Investors: 0x_Messi
SourceπŸ”—
Ten (ex Obscuro)
Ten (ex Obscuro)
Ten (ex Obscuro): A Layer 2 solution for Ethereum, offering privacy and scalability through programmable encryption. Developers have the flexibility to determine the privacy level for inputs, contract states, and executions. Incubated by the global enterprise software firm R3, Ten distinguishes itself with its speed, affordability, and seamless integration with existing Ethereum tools. Notably, it introduces a unique feature by eliminating negative Maximal Extractable Value (MEV) across decentralized applications (dApps).
Chain: Ethereum
Category: Infrastructure, L2, Privacy
Round: Unknown
Funds Raised: $7.50M
Date: Dec 4th 2023
SourceπŸ”—
Versatus Labs (ex VRRB Labs)
Versatus Labs (ex VRRB Labs)
Versatus Labs (ex VRRB Labs): A blockchain scaling startup redirecting its focus from constructing a Layer 1 network to crafting a "stateless rollup" known as LASR for Ethereum. LASR targets improved scalability by settling only the essential transaction data on the base layer, presenting a layer-agnostic solution compatible with various layers or blockchains. The startup's objective is to minimize the costs and inefficiencies associated with Ethereum while offering an enhanced developer experience.
Category: Infrastructure, L1
Round: Seed
Funds Raised: $2.30M
Date: Dec 6th 2023
SourceπŸ”—

Stay Updated with Nova Research

Concluding the standout moments in crypto fundraising this week! For ongoing updates and comprehensive perspectives on recent funding rounds, navigate to the Crypto Fundraising Data section on the Nova Research website. Stay abreast of the latest insights in the ever-evolving realm of crypto fundraising with Nova Research!
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