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DEC 18, 2023

Fundraising of the Week: Dec 11-17

by Nova Research

Explore the latest in cryptocurrency fundraising with Nova Research's 'Fundraising of the Week,' spotlighting advancements from December 11th to 17th.

Uncover the most recent developments in crypto fundraising through Nova Research's Weekly Roundup.

From December 11th to 17th, 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.

Crypto Fundraising Deep-Dive

 In this weekly roundup, we delve into the significant fundraising activities that have shaped the crypto landscape. From December 4th to 10th, the crypto industry experienced a dynamic showcase, witnessing a total fundraising of $276.8 million across 28 projects. The Marketplace sector led the way, with NFTs as the primary subcategory, followed by sectors like Infrastructure (L2 - DeFi - DEX), and others. Join us as we uncover the exciting developments in crypto fundraising.
Overview of the week
Overview of the week

Spotlight on Projects

Aki Protocol  
Aki Protocol  
Aki Protocol: With a focus on organizing the Web3 world's information, Aki Protocol operates as a blockchain protocol that provides oracle services and rewards contributors to the data layer through an open, decentralized network of peer-to-peer participants. It comprises two layers: Aki Protocol, serving as an open infrastructural multi-chain knowledge base, and Aki Network, a consumer-facing application suite with a specific focus on influencer-centered graphs and data standards.
Category: Analytics, Data Service, Infrastructure, Oracle
Round: Series A
Funds Raised: TBD
Date: Dec 16th 2023
Lead Investors: MARBLEX Corp.
Other Investors: Puzzle Ventures
Source🔗
AIT Protocol
AIT Protocol
AIT Protocol: AIT Protocol is at the forefront of Web3 data infrastructure, placing a strong emphasis on data annotation and AI model training. Functioning on the blockchain, it creates a decentralized labor market that goes beyond geographical borders, motivating participants through crypto economics. The AIT marketplace allows millions of cryptocurrency users to participate in "Train-to-Earn" tasks, earning rewards while actively contributing to the development of AI models. Positioned within the expanding AI data market, AIT provides a gateway for data labelers to enter Web3, reducing costs and fostering innovation in the transformative intersection of blockchain and AI.
Category: AI, DApp, Data Service, Marketplace, NFT
Round: Unknown
Funds Raised: TBD
Date: Dec 12th 2023
Source🔗
Andalusia Labs (ex Risk Harbor)
Andalusia Labs (ex Risk Harbor)
Andalusia Labs (ex Risk Harbor): Pioneering risk management infrastructure for digital assets on a global scale, Andalusia Labs introduces innovative solutions such as the Karak layer-2 blockchain, Subsea crypto risk management marketplace, and Watchtower security-centric institutional platform. With a mission to set security standards, instill confidence, and facilitate the integration of blockchain and Web3 technology into global financial services, Andalusia Labs is committed to advancing the security and adoption of digital assets across the financial landscape.
Category: Infrastructure, L2, Marketplace
Round: Series A
Funds Raised: $48M
Date: Dec 13th 2023
Lead Investors: Lightspeed
Source🔗
BitSmiley
BitSmiley
BitSmiley: Operating within the Bitcoin blockchain, bitSmiley is a protocol that encompasses a decentralized stablecoin, a trustless lending platform, and a derivatives protocol under the Fintegra framework. The flagship product, bitUSD, is a BTC-based over-collateralized stablecoin designed to promote stable value alignment and transparency on the Bitcoin blockchain. The broader ecosystem of bitSmiley includes bitLending for peer-to-peer lending and a Credit Default Swaps (CDS) segment, aiming to redefine financial derivatives within the Bitcoin DeFi landscape.
Chain: Bitcoin
Category: DeFi, Derivatives, Lending/Borrowing, Stablecoin
Round: Series A
Funds Raised: TBD
Date: Dec 14th 2023
Source🔗
Blocksmith
Blocksmith
Blocksmith: Blocksmith, a prominent Japanese blockchain company, specializes in offering a range of services, including consulting, development, infrastructure management, tokenization, and smart contract services. With a proven track record, the company places a particular emphasis on blockchain games, AI labs, and partnerships with Web3 wallet providers, while also gearing up for a potential listing. Blocksmith is dedicated to empowering businesses to leverage blockchain technology for improved efficiency, security, and transparency, establishing itself as a leading provider in Japan's evolving blockchain landscape.
Category: AI, Data Service
Round: Unknown
Funds Raised: TBD
Date: Dec 15th 2023
Source🔗
Dora Factory
Dora Factory
Dora Factory: Specializing in decentralized governance and multi-chain funding for public goods, Dora Factory introduces innovative solutions like Public Good Staking infrastructure and Dora Vota for PoS networks and open-source communities. The protocol's focal point on community engagement and impact solidifies its reputation as a dependable partner in the Web3 ecosystem.
Chain: Ethereum, Polkadot 
Category: Infrastructure, Staking 
Round: Unknown
Funds Raised: TBD
Date: Dec 14th 2023
Source🔗
Dynamic
Dynamic
Dynamic: Presenting a versatile and secure solution for Web3 authentication, Dynamic offers intelligent login flows for crypto users and straightforward onboarding for others. With a focus on simplifying wallet interactions, its non-custodial embedded wallets feature passkeys, secure enclaves, pre-generated wallets, user-friendly recovery flows, and integrated on-ramps. This allows developers to create seamless and secure user experiences across various blockchains.
Category: DApp, Identity, Infrastructure, Multichain Wallet
Round: Series A
Funds Raised: $13.5M
Date: Dec 12th 2023
Source🔗
EthosX
EthosX
EthosX: Revolutionizing the creation and trading of financial derivatives, EthosX is a decentralized finance platform that harnesses blockchain technology to provide users with fully-functional derivatives on-chain. By eliminating the need for centralized authorities, the platform aims to deliver fast, secure, and efficient trading experiences. EthosX's initial focus encompasses options, option-like tokens, and customized perpetuals, with future plans to expand into other asset classes of derivatives.
Category: DeFi, Derivatives, DEX, Trading
Round: Unknown
Funds Raised: $1.80M
Date: Dec 13th 2023
Source🔗
Farcana
Farcana
Farcana: Based in the UAE, Farcana Studio is a gaming studio that has developed the free-to-play team-based shooter Farcana. The game emphasizes 4v4 gameplay, unique abilities, and introduces a Bitcoin prize system. Utilizing Unreal Engine 5, Farcana combines tactical and strategic elements, drawing in thousands of players. It introduces innovative features like "Free Mint" Bitcoin ordinals in AAA Web3 gaming. Farcana offers an immersive experience with competitive tournaments, a battle royale mode set on a terraformed Mars, and a deflationary Play-to-Hash economic model linked to real Bitcoin mining power.
Chain: Arbitrum
Category: Gaming, NFT, P2E
Round: Seed
Funds Raised: $10M
Date: Dec 14th 2023
Source🔗
GUGroup
GUGroup
GUGroup: Groundbreaking initiative in the space 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.
Category: Infrastructure, Storage, Wallet
Round: Unknown
Funds Raised: $2.9M
Date: Dec 12th 2023
Lead Investors: B Dash Ventures
Source🔗
Hackless
Hackless
Hackless: Among decentralized finance (DeFi) protocols, Hackless stands out as a security-focused platform. It provides a comprehensive toolkit comprising monitoring tools, analytics, and security services. With a core focus on detecting and preventing potential hack attacks, Hackless offers developers an array of features, including ongoing monitoring, dynamic transaction analysis, mempool tracking, funds flow analysis, and an alert system. This robust set of tools is designed to fortify the security of DeFi protocols at the infrastructure level of EVM-compatible blockchains. Hackless aims to elevate the overall security of smart contracts by integrating key elements from the broader blockchain ecosystem.
Category: Analytics, Data Service, Security
Round: Unknown
Funds Raised: $1.2M
Date: Dec 12th 2023
Source🔗
LINE NEXT (DOSI)
LINE NEXT (DOSI)
LINE NEXT (DOSI): Dedicated to Web3 business strategy, LINE NEXT Corporation, a Korean company, operates a global NFT platform through its subsidiary. The company is gearing up to launch DOSI, a worldwide NFT platform seamlessly integrated with Japan's LINE NFT marketplace. With a mission to popularize NFTs, DOSI prioritizes a user-friendly experience. Furthermore, LINE NEXT aims to assist brands in facilitating ownership of digital products and introducing Web3 games as part of its broader objectives.
Category: Marketplace, NFT
Round: Unknown
Funds Raised: $140M
Date: Dec 13th 2023
Source🔗
Liquidium
Liquidium
Liquidium: Incorporating digital inscriptions known as Ordinals, Liquidium operates as an ordinal lending platform on the Bitcoin blockchain. This innovative system enables peer-to-peer lending where users can borrow Bitcoin against their Ordinals as collateral, allowing them to retain ownership without the need for selling. Liquidium employs Discreet Log Contracts and Partially Signed Bitcoin Transactions on Layer-1 Bitcoin, eliminating the requirement for third-party custodians and bringing a transformative impact to decentralized finance.
Chain: Bitcoin, Stacks
Category: DeFi, Lending/Borrowing
Round: Unknown
Funds Raised: Pre-seed
Date: Dec 11th 2023
Source🔗
Lolli
Lolli
Lolli: A rewards application, Lolli, offers users the opportunity to earn Bitcoin when making purchases at their preferred stores.
Chain: Bitcoin
Category: Finance/Banking
Round: $8M
Funds Raised: Series B
Date: Dec 14th 2023
Lead Investors: BITKRAFT Ventures 
Source🔗
Matr1x FIRE
Matr1x FIRE
Matr1x FIRE: Matr1x, the inaugural game on the Matr1x platform, stands out as a mobile competitive first-person shooter (FPS) game. It has been developed by the Matr1x game studio.
Chain: Polygon
Category: Gaming, Marketplace, Metaverse, NFT, P2E
Round: Unknown
Funds Raised: TBD
Date: Dec 12th 2023
Source🔗
MetaFight
MetaFight
MetaFight: Incorporating multiple layers of functionality, MetaFight presents itself as a platform that seamlessly integrates a Global MMA Hub for live events within a custom Metaverse environment. It further includes an NFT Playground, providing ownership and collection opportunities for fighter NFTs with unique stats. Additionally, MetaFight features a Play-to-Earn Arena, offering competitive gaming experiences with in-game token rewards. The platform also embraces Decentralized Governance, allowing the community to actively shape its future through token-based voting..
Chain: ImmutableX
Category: Gaming, Marketplace, Metaverse, NFT, P2E, Sports
Round: Private Sale
Funds Raised: TBD
Date: Dec 16th 2023
Lead Investors: Animoca Brands
Source🔗
Metagood
Metagood
Metagood: Launched as a for-profit social impact NFT startup, Metagood has introduced its flagship NFT collection, OnChainMonkey, with the goal of creating tokenized value for community members.
Category: Marketplace, NFT
Round: Seed
Funds Raised: $5M
Date: Dec 14th 2023
Lead Investors: Sora Ventures 
Source🔗
Molecule: Revolutionizing the R&D landscape, Molecule is a decentralized biotech protocol that harnesses Web3 technologies and IP-NFTs for ownership and usage rights. The platform acts as a connecting bridge between researchers and a global community of investors, comprising patient groups and pharmaceutical companies. This collaborative approach fosters innovation by promoting transparency, fairness, and community-driven decision-making through Molecule's decentralized governance system. The platform accelerates scientific discovery while democratizing access to resources within the biopharma industry.
Category: DApp, Marketplace, NFT
Round: Private Sale
Funds Raised: $1M
Date: Dec 4th 2023
Lead Investors: Sora Ventures
Source🔗
Morph: Morph, operating as a Layer 2 consumer blockchain, seamlessly integrates Optimistic and ZK roll-up technologies to offer efficient scaling and enhanced security for decentralized applications (dApps) driven by value. Noteworthy features, such as the Decentralized Sequencer Network and Responsive Validity Proof system, are designed to guarantee scalability, security, and cost-effectiveness in Layer 2 transactions. Additionally, Morph addresses challenges like MEV dominance within the decentralized application ecosystem.
Category: Infrastructure, L2, MEV, Zero-knowledge
Round: Unknown
Funds Raised: TBD
Date: Dec 11th 2023
Lead Investors: Bitget
Source🔗
NFTPerp
NFTPerp
NFTPerp: As the first NFT perpetual futures DEX, NFTPerp stands as an open-source DeFi software designed for all web3 users. The core product of NFTPerp is a decentralized exchange that allows users to go long or short on blue-chip NFT projects like BAYC, CryptoPunks, and others.
Category: DeFi, DEX, NFT
Round: Series A
Funds Raised: $3M
Date: Dec 11th 2023
Lead Investors: 1kx 
Source🔗
NFTScan
NFTScan
NFTScan: Empowering users with insights into the non-fungible token (NFT) space, NFTScan is a developer of a comprehensive explorer and analytics platform dedicated to NFTs. The platform offers asset data and visual analysis, delivering professional-grade search and query functions encompassing collections, contracts, and wallet addresses. NFTScan equips users with the tools to make informed investment decisions within the dynamic and evolving NFT market.
Category: Analytics, Data Service, Interoperability, Marketplace, Multichain, NFT
Round: Private Sale
Funds Raised: TBD
Date: Dec 14th 2023
Lead Investors: BitJungle
Source🔗
NodeKit
NodeKit
NodeKit: In the space of decentralized technology, NodeKit is in the process of developing SEQ, a decentralized shared sequencer operating on a custom L1 blockchain. The primary objective of SEQ is to elevate cross-rollup interoperability and decentralize transaction sequencing, with a particular focus on rollup chains within the Avalanche ecosystem. This innovation enables seamless interoperability across diverse rollup chains, encouraging innovative designs while maintaining decentralization and promoting user growth. NodeKit's SEQ emerges as a noteworthy addition to the competitive landscape of Ethereum Layer 2 solutions.
Category: Infrastructure, Interoperability
Round: Pre-seed
Funds Raised: $1.20M
Date: Dec 13th 2023
Lead Investors: Borderless Capital
Source🔗
PaveBank
PaveBank
PaveBank: Pave Bank emerges as a programmable bank, offering a secure and regulated platform for businesses to engage in transactions involving stablecoins, CBDCs, and tokenized RWAs. The platform empowers businesses to create customized banking workflows and automation, seamlessly integrating elements from both traditional finance and digital assets in a secure and transparent manner.
Category: Finance/Banking
Round: Seed
Funds Raised: $5.20M
Date: Dec 14th 2023
Lead Investors: 468 Capital
Source🔗
Reltime
Reltime
Reltime: Utilizing a secure Proof of Authority (PoA) blockchain, Reltime operates as a Layer 1 Web3 ecosystem, transforming the Forex market and providing users with control over digital assets. This blockchain facilitates open, permissioned, and decentralized financial activities, ensuring transparency, security, and efficiency in trading, lending, and asset management. With a commitment to education and user-friendly tools such as the Non-Custodian wallet and Super app, Reltime aims to make blockchain technology accessible, fostering a decentralized and equitable future for individuals, businesses, and developers.
Category: L1 Wallet
Round: Unknown
Funds Raised: TBD
Date: Dec 12th 2023
Source🔗
Seam Social
Seam Social
Seam Social: Empowering users to code, design, and curate personalized online social spaces, Seam emerges as a Web3 social platform. It introduces mini-apps, enabling users to personalize their profiles with elements such as gifs and music. Seam innovatively transforms the social media business model by hosting a marketplace for user-created mini-apps and themes. Users are rewarded with Seam Points for their customization efforts, creating a unique and engaging social experience.
Category: Social Network
Round: Seed
Funds Raised: $2.5M
Date: Dec 11th 2023
Lead Investors: 1kx
Source🔗
Spielworks
Spielworks
Spielworks: In the world of Web3 gaming, Spielworks stands out as a platform that seamlessly integrates blockchain technology and gaming, providing empowerment to both creators and players through the use of NFTs. Their flagship platform, Wombat, serves as a comprehensive hub for discovering, playing, and managing Web3 games. The platform is designed to foster a secure and interconnected ecosystem with a primary focus on ensuring true ownership and promoting player-driven experiences.
Category: Gaming, NFT, P2E
Round: Private Sale
Funds Raised: TBD
Date: Dec 13th 2023
Source🔗
Trac Systems (Tap Protocol)
Trac Systems (Tap Protocol)
Trac Systems (Tap Protocol): Specializing in Blockchain technology, Trac Systems is a company that has developed innovative products, including Trac Core, Tap Protocol, and Pipe. Notably, Tap Protocol, a leading developer community building on Bitcoin, provides functionalities such as the fractionalization of Ordinals art and decentralized finance applications on Ordinals. The emphasis on versatility in design includes applications in gaming, token redemption, and multisend capabilities, showcasing the company's commitment to diverse and impactful solutions within the blockchain space.
Chain: Bitcoin
Category: Infrastructure
Round: Unknown
Funds Raised: $4.2M
Date: Dec 16th 2023
Lead Investors: Sora Ventures
Source🔗

Stay Updated with Nova Research

Keep abreast of the latest in crypto fundraising with Nova Research! Concluding this week's highlights, for ongoing updates and comprehensive insights into recent funding rounds, visit our  Crypto Fundraising Data section on the Nova Research website. Stay informed with Nova Research as we deliver the latest insights in the dynamic space of crypto fundraising!
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