Cryptocurrency startups continue to raise funds despite tight liquidity and unfavorable macroeconomic conditions. September saw major developments in the space, such as Farmville co-founder Amitt Mahajan raising $33 million to develop Web3 games and Animoca Brands revealing it raised $20 million to fuel development of its Mocaverse platform.
In another related development, Blockchain Capital closed two new funds in September, with $580 million set to be invested in crypto gaming and decentralized finance projects in the coming months. Cointelegraph’s venture capital roundup showcases the latest projects that are raising funds despite the market’s long-term downward trend.
Bubblemaps gets $3.2M for data visualization
Data visualization startup Bubblemaps has raised €3 million ($3.2 million) in a seed round led by INCE Capital. According to the startup, the funding will be used to expand its team, recruit more developers, and expand its social media marketing campaigns. Stake Capital, Momentum 6, Lbank, V3ntures, Ledger’s Nicolas Bacca, Hacken’s Dyma Budorin and French entrepreneur Owen ‘Hasheur’ Simonin also participated in the financing. The company’s ambitious goal is to become the Google Analytics of Web3. It has been reported that partnerships have been established with Arbitrum, Polygon, Avalanche and BNB Chain.
We are excited to share the closing of two new funds – our sixth early-stage fund and our first opportunity fund.
Totaling $580 million, they help strengthen our commitment to leading the global transition to decentralized, blockchain-based systems. ↓https://t.co/Vr2uYnGlF7
— Blockchain Capital (@blockchaincap) September 18, 2023
Blockchain analytics CoinScan raises $6.3 million
Crypto analytics platform CoinScan raised $6.3 million in September to provide security checks, holder and airdrop analysis, and social sentiment analysis to the entire crypto community. CoinScan is the first product from CryptoHub, a Web3 company focused on the blockchain economy and backed by top individual shareholder and billionaire Shalom MecKenzie of DraftKings, as well as investors from Playtech and iAngels. “Cryptocurrency, like sports betting, should provide people with the tools and data to make their own assessments of risk and reward,” MecKenzie said in a statement. He claimed that CoinScan will provide access to cryptocurrencies drawn from multiple sources. Data to provide chart insights.
Hinkal Protocol secures $4.1 million in funding to enhance privacy for DeFi transactions
Privacy Protocol Hinkal has raised $4.1 million in pre-seed funding led by Draper Associates. The protocol is designed to provide an advanced layer of privacy, with transactions and assets across various decentralized finance (DeFi) protocols shielded from public visibility, a statement said. This round of financing also attracted participation from Psalion Hedge Fund, NGC Ventures, NoLimit Holdings, Draper Dragon, Peer VC, Orange DAO, Web3.com Ventures and other companies. Draper Associates has invested in a range of technology companies, including Hotmail, Skype, Baidu, Tesla, SpaceX, Twitch, Cruise, Carta, Webflow, Robinhood and Coinbase.
Mythic Protocol raises $6.5M in seed round for collaborative entertainment
Mythic Protocol has completed a $6.5 million seed round, co-led by investors including Shima Capital’s Gao Yida, Alpha JWC, Saison Capital, GDP Ventures and Planetarium Labs. The team behind the project is working within a collaborative entertainment ecosystem that leverages games-first strategies to acquire, retain and expand users. The funds will be used to develop and launch the initial core product over the coming months, with a focus on gamers, creators and investors. “Since 2009, the founding team has launched over 250 games from one of Southeast Asia’s largest gaming studios, and we have no doubt they will carry their track record of success into the next gaming cycle,” said in a statement , Gao Yida, founder of Shima Capital.
Before you go: ConsenSys launches pre-accelerator program for Web3 founders
Technology company ConsenSys announces launch of its pre-accelerator program ConsenSys Fellowship, Support early-stage Web3 startups. The goal of the fellowship is to help early-stage startups bridge the gap between ideas with potential and functional businesses, products or tools. This 12-week program will provide mentoring workshops, weekly classes, mentorship and access to the ConsenSys network to accelerate the growth of up to 15 startups. Fellowship teams will be eligible for follow-on investment from a $1.5 million fund.
Magazine: “Artificial intelligence has killed this industry” – EasyTranslate boss talks about adapting to changes
