Research Summary
The report provides an overview of crypto fundraising activities for the week of 27th August to 2nd September 2023. During this period, 10 blockchain startups raised a total of $22M in funding through various rounds. The startups include DeForm, ProsperEx, Stroom Network, Tako Protocol, Lyvely, DRiP, GPU.Net, IronMill, Buidler DAO, and FirstMate.
Key Takeaways
Investment Distribution
- Seed and Pre-seed Rounds: Four startups raised $11.1M in seed rounds, while one startup raised $2M in a pre-seed round. The largest seed round was DeForm, which raised $4.6M.
- Unknown and Strategic Rounds: Four startups raised $8.9M in unknown rounds, and one startup raised an undisclosed amount in a strategic round.
- Investment by Ecosystem: The report does not provide a breakdown of investments by ecosystem.
Startup Overview
- DeForm: Raised $4.6M in a seed round. It is a universal decentralized exchange that blends the security of DeFi with real-world assets and AI.
- Stroom Network: Raised $3.5M in a seed round. It is a liquid staking protocol that enables users to leverage their Bitcoin holdings across Lightning Network and Ethereum.
- Tako Protocol: Raised $2M in a pre-seed round. It is an open recommendation protocol that serves as a content distribution layer for Web3 Social.
- Lyvely: Raised an undisclosed amount in a seed round. It is a UAE-based social networking and content monetization platform.
Emerging Trends
- Decentralized Exchanges: DeForm and ProsperEx, both decentralized exchanges, secured funding, indicating investor interest in this sector.
- Web3 and Social Networking: Tako Protocol and Lyvely, focusing on Web3 and social networking respectively, also attracted investment.
- Blockchain and AI: GPU.Net, a decentralized GPU on-demand infrastructure for generative AI, secured funding, highlighting the growing intersection of blockchain and AI.
Actionable Insights
- Investigate the Potential of Decentralized Exchanges: The funding secured by DeForm and ProsperEx suggests a growing interest in decentralized exchanges. These platforms could offer significant opportunities for innovation and growth.
- Explore the Intersection of Blockchain and AI: The investment in GPU.Net indicates that the combination of blockchain and AI could be a promising area for future development.
- Consider the Impact of Web3 and Social Networking: The funding received by Tako Protocol and Lyvely suggests that the integration of Web3 technologies into social networking platforms could be a significant trend moving forward.
