Research Summary
- During the week of August 6-12, 2023, 15 blockchain startups raised a total of $63.6M in various funding rounds, including Seed, Unknown, Pre-seed, and Strategic rounds.
- Helio Protocol, an open-source liquidity protocol, secured the largest funding of $10M from Binance Labs Fund.
- Holdstation DeFutures, a platform for leveraged trading, raised $2M in a Seed round, emphasizing privacy and innovation.
- Xverse App, a Bitcoin-based Web3 wallet, raised $5M, supporting unique NFT generation on the Bitcoin blockchain.
- CUBE3, a web3 security platform, raised $8.2M for real-time protection of smart contracts.
- SphereX, another Web3 security company, raised $8.2M for proactive blockchain security.
- fxhash, a Tezos-based platform for generative art, raised $5M for unique NFT creation.
- Puffer Finance, a decentralized protocol for anti-slashing and at-home staking on Ethereum, raised $5.5M.
- GoldLink, an on-chain leveraged prime broker, raised $1.4M for transparent lending and advanced investment strategies.
- Juhnz, a luxury Web3 lifestyle brand, raised $1M for its limited-edition NFTs backed by Premium Silver Needle White Tea.
- unshETH, a DeFi protocol for validator decentralization, raised $3.3M for an enhanced Ethereum staking experience.
- VIP3, a Web3 membership and benefits platform, raised $2M for connecting users with active dapps and exclusive benefits.
- Other notable investments include Curve DAO, Spearbit, Rocket Pool, and Coin98, with some undisclosed amounts.
Actionable Insights
- Investment Focus: The week’s investments highlight a strong focus on Web3 security, decentralized protocols, and innovative NFT platforms.
- Growth in Decentralized Finance: Several startups are working on decentralized finance solutions, indicating a growing interest and investment in this area.
- Emphasis on Security: With multiple investments in security-related startups, there is a clear emphasis on enhancing security within the cryptocurrency ecosystem.
- Expansion of NFTs: The funding in platforms related to NFTs shows the continuous expansion and innovation in the NFT space.
