Research Summary
This report provides a detailed analysis of crypto fundraising activities for the week of 13th to 19th August 2023. It covers the funding rounds of 11 blockchain startups that collectively raised $95.3M. The report highlights the largest funding round, pre-seed and seed investment rounds, and other investment rounds, providing insights into the companies, their products, and the investors involved.
Key Takeaways
ZetaChain’s Funding Round
- ZetaChain’s Significant Funding: ZetaChain, an EVM-compatible Layer 1 blockchain, raised the week’s largest funding round of $27M. The funding was sourced from multiple investors, including Blockchain.com, Human Capital, and VY Capital.
- Interoperable dApps and Cross-chain Asset Transfers: ZetaChain’s unique selling point is its ability to connect multiple blockchains into a unified ecosystem, enabling interoperable dApps and seamless cross-chain asset transfers without the need for wrapped tokens or bridges.
- Smart Contract Capabilities: ZetaChain offers externally-managed smart contract capabilities for chains like Bitcoin and Dogecoin, making it a versatile solution for multichain DeFi, NFTs, governance, and more.
Seed and Pre-seed Investment Rounds
- AegisWeb3’s Security Product: AegisWeb3, a security product developed by PeckShield, raised an undisclosed amount in a Seed funding round. It safeguards users from various threats during blockchain transactions and supports multiple token platforms.
- Ellipsis Labs’ DeFi Protocols: Ellipsis Labs raised $3.3M in a Seed funding round. It builds sustainable and efficient DeFi protocols on high-throughput decentralized infrastructure.
- CityPay’s Digital Currency Payment Solution: CityPay, a digital currency payment solution that enables businesses to accept payments in cryptocurrencies, raised $2.2M in a Seed funding round.
Other Investment Rounds
- Jada AI’s Decision-Making Enhancement: Jada AI raised $25M in a funding round. It provides AI services to enhance decision-making and operational efficiency in organizations within a blockchain-based ecosystem.
- Lore Explorer’s AI-Powered Analytics: Lore Explorer raised $2.3M in a funding round. It is an AI-powered analytics platform designed to enhance understanding of EVM-compatible networks.
- Port3 Network’s Web3 Identity Platform: Port3 Network raised $7M in a funding round. It is a one-stop platform to create, utilize, and evolve your Web3 identity by aggregating and standardizing off-chain/on-chain data.
Actionable Insights
- Investigate the Potential of EVM-Compatible Layer 1 Blockchains: The significant funding raised by ZetaChain indicates the growing interest in EVM-compatible Layer 1 blockchains that offer interoperability and cross-chain asset transfers.
- Explore Security Solutions for Blockchain Transactions: The seed funding raised by AegisWeb3 underscores the importance of security in blockchain transactions and the potential of solutions that offer comprehensive protection.
- Consider the Role of AI in Blockchain Ecosystems: The funding rounds of Jada AI and Lore Explorer highlight the increasing role of AI in enhancing decision-making and understanding of blockchain networks.
