Liansheng Investment Research Weekly | 28 public financings occurred in the encryption market, and the Ethereum expansion project Scroll completed 50 million US dollars in financing

According to incomplete statistics from 0x Finance and Economics, more than 28 project financing cases in the blockchain field were announced this week (3.06-3.10). The Believer Company, a gaming startup founded by former bitcoin mining company Riot executives Michael Chow and Steven Snow, completed a $55 million Series A round led by Lightspeed Venture Partners, the largest funding round of the week. This week’s investment and financing subdivision track is mainly focused on DeFi, Web3 and other fields. The following is a list of financing events this week.

Moonrock Capital Announces Strategic Investment in Blockchain Game Platform Octo Gaming

Moonrock Capital announced a strategic investment in Octo Gaming, a chain game platform. Octo is a social gaming platform that enables users to monetize their time playing video games on the Solana blockchain. The app already offers 7 games with more than 2 million games played every month.

Encrypted Wallet API Tweed Completes $4 Million Seed Round Funding, Accel Leads Funding

Tweed, a start-up company dedicated to developing white-label cryptocurrency wallets and payment solutions, revealed that it has completed a $4 million seed round of financing in the summer of 2022, led by Accel, Communitas Capital Partners, Zero Knowledge Venture, and angel investor Sorare CEO Nicolas Julia, Mike Vaughan, Ameet Patel, and Cristóbal Conde participated.
It is reported that Tweed’s API enables Web 2.0 to add Web3 components to its services, and then Tweed’s wallet will be compatible with Ethereum, Polygon and Tezos networks. Additionally, Tweed offers payment integration services.

Singapore technology startup The GrowHub completes US$3 million PreB round of financing

GrowHub, a Singapore-based provider of supply chain trust and traceability technology, announced Thursday that it has raised $3 million in Pre-Series B funding, with investors including the company’s CEO and founder Lester Chan. The new funding will be used to continue building out The GrowHub’s technology offerings and strengthen its technology capabilities as it expands further into the Asia-Pacific region.
GrowHub enables producers and businesses (such as food production companies) to track consumer behavior and patterns using its proprietary Web3, NFT and QR code solutions, and also facilitates transparent and reliable carbon credit tracking through its SaaS platform. GrowHub’s proprietary blockchain technology has secured all listed products in the company’s portfolio.

Encrypted asset management company Aisot Technologies completes approximately US$1.93 million in financing

Aisot Technologies, an AI-based encryption asset management company, completed a seed round of CHF 1.8 million (approximately US$1.9352 million), led by Haute Capital Partners, and participated by Swiss ICT Investor Club (SICTIC) and a group of angel investors. The total amount of financing reached 2.1 million Swiss francs (about 2.2577 million US dollars).
Aisot Technologies mainly helps users provide artificial intelligence-based analysis services for investment portfolios in the stock and encryption markets, using machine learning, data science and quantitative analysis to allow investors to quickly adapt to changing market conditions and investment needs.

Cubist, a provider of Web3 development tools, completes a $7 million seed round of financing, led by Polychain Capital

Cubist, a provider of Web3 development tools, has completed a $7 million seed round of financing, led by Polychain Capital, with participation from Dao5, Polygon, Amplify Partners, and Axelar. Cubist will use the funds for hiring as well as expanding and promoting its SDK. (The Block)

Decentralized exchange Mauve completes $15 million in financing, with participation from Coinbase Ventures and others

Decentralized exchange Mauve completed $15 million in financing, with participation from Brevan Howard, Coinbase Ventures, BlueYard Capital, Balderton, Ethereal Ventures, and FinTech Collective.
According to reports, Mauve provides secure self-custody and modular design, as well as all the strict compliance checks of traditional banks and brokerage firms. Mauve will not only have traditional know-your-customer tools built in, but also security features such as geo-fencing, which will bar users from countries subject to U.S. sanctions from using the platform. Mauve will offer trading in assets such as stablecoins and ethereum, but the range of available assets will be determined by the nationality of the client.

Zero-knowledge proof technology company Proven completes $15.8 million in financing, led by Framework Ventures

Proven, a company that provides zero-knowledge proof technology to enable cryptocurrency companies to prove solvency, completed a $15.8 million seed round of financing, led by Framework Ventures, with participation from Balaji Srinivasan, Roger Chen, and Ada Yeo.

Decentralized stablecoin development company Gyroscope completes $ 4.5 million seed round financing

Gyroscope, a decentralized stablecoin development company, completed a $4.5 million seed round of financing, co-led by Placeholder and Galaxy, with participation from Maven 11, Archetype, Robot Ventures, and Balancer Labs co-founder and CEO Fernando Martinelli.
Co-founder Lewis Gudgeon said the funding round closed in January 2022, but Gyroscope is now making it public because the protocol’s codebase is largely complete and is preparing for a full launch. Gyroscope’s stablecoin, called the gyro dollar and codenamed GYD, is non-custodial and designed to be fully backed by reserves. (The Block)

Stablecoin issuer ECSA completes USD 3 million Pre seed round financing, Y Combinator and others participate in the investment

Stablecoin issuer ECSA completed a $3 million Pre seed round of financing, with participation from Y Combinator and Arca. (The Block)

Web3 Art Platform Wild Closes $7 Million Seed Round, Led by Matrix Partners

Web3 art platform Wild completed a $7 million seed round, led by Matrix Partners, with participation from Gwyneth Paltrow, LinkedIn co-founder Reid Hoffman, and Twitch co-founder Kevin Lin.

Tonstarter, TON’s native Launchpad platform, completes $1.5 million in seed round financing

Tonstarter, TON’s native Launchpad platform, completed a seed round of financing of US$1.5 million, with Kingsway Capital,, and DWF Labs participating.
Tonstarter is a platform that enables projects to raise funds and build communities, incubated by First Stage Labs, a venture capital arm in the TON ecosystem.

Female Content Brand Rebel Girls Completes $8 Million Funding Led by Penguin Random House

Feminine content brand Rebel Girls completed $8 million in financing, led by publishing giant Penguin Random House, with participation from Asma Ishaq, Jenny Zhu, Jocelyn Mangan, etc. Rebel Girls announced that it will use the new funds to establish new partnerships and explore metaverse platforms .

nealthy completes $1.3 million pre-seed round of financing, DonGeraldo participates in the investment

Nealthy completed a pre-seed round of financing of US$1.3 million, and angel investors such as DonGeraldo participated in the investment. Nealthy said the funds will be used to expand the core team and promote sales and development.
Nealthy processes transactions through blockchain technology and provides index tokens, enabling investors to quickly and worry-free enter the Web3 market. The index tokens “replicate” the traditional ETF structure by storing a variety of virtual assets. In addition, nealthy also launched the first dynamic blue-chip NFT token “NFTS”, which is expected to be released in the summer of 2023.

Blockchain risk solution Over-C completes £1 million equity financing, Ayre Ventures participates

Over-C, a blockchain risk solution, announced the completion of £1 million in equity financing, with participation from Ayre Ventures.
It is reported that Over-C provides scalable, single point of failure, time stamp, and privacy risk solutions through blockchain technology. The company also uses machine learning and IoT to provide real-time operational risk data and analytics to predict and prevent potential future risk events. Current partners include Hitachi, ScotRail, Eli Lilly, Savills, Munster Rugby and Belfast Airport. (PRNewswire)

Cloud infrastructure startup Vantage completes US$21 million Series A financing, a16z participates in the investment

Cloud infrastructure startup Vantage announced the completion of a $21 million Series A round led by Scale Venture Partners, with participation from Andreessen Horowitz (a16z), Harpoon Ventures, and CloudFlare CEO and co-founder Matthew Prince and Glenn Solomon. The company previously completed a $4 million seed round in 2021.
Vantage co-founder and CEO Ben Schaechter said the company now helps its more than 300 customers manage more than $1 billion in annual cloud costs. These customers include Square, NASA, BuzzFeed, PBS, Ripple, PlanetScale, and Barstool Sports, among others, and in total customers currently connect more than 10,000 infrastructure accounts to Vantage. (Tech Crunch)

Web3 football game company Matchday completes $21 million seed round financing, Play Time participated in the investment

Matchday, a Web3 game interactive entertainment start-up company, announced the completion of a $21 million seed round of financing, with Messi’s fund Play Time participating. Matchday combines Web3 and mobile games to create a football game authorized by FIFA. Sebastien de Halleux, Chief Game Officer of Matchday, believes that real ownership is very important to create a series of new experiences for gamers, hoping to attract hundreds of millions of fans to Web3, the company expects the first game to be released in the second quarter. (fastcompany)

Encrypted Salary Compliance Payment Company Toku Completes $20 Million Financing

Toku, an crypto salary compliance payment company, completed a financing of US$20 million. Blockchain Capital, Orrick, Alchemy, GMJP, OrangeDAO, Reverie, Quantstamp, Next Web Capital, Protocol Labs founders Juan Benet, Cameron, Tyler Winklevoss, etc. participated in the investment.
The company aims to help encryption companies deal with tax laws related to Token-related salary issuance. It claims to have created a system in dozens of countries to track encryption-related tax laws and regulations. It currently has 30 customers, including Filecoin Foundation, Gitcoin, etc. (Fortune)

Web3 email solution EtherMail completes $4 million PreA round of financing

Web3 email solution EtherMail completed a $4 million PreA round of financing, led by Tim Draper and his venture capital firm Draper Associates. Tim Draper will join EtherMail’s Advisory Board. The funding will be used to drive hiring and market expansion, with EtherMail also working to accelerate the rollout of its single sign-on solution and advertising market solution. (The Block)

Animoca Brands Japan Announces Strategic Investment in Entertainment Company Rainshine Global

According to an official announcement, Animoca Brands Japan announced a strategic investment in Rainshine Global, a global entertainment company, for an undisclosed amount.

It is reported that Rainshine Global is a Delaware-based entertainment company with a special focus on Web3 content and operates in India, the United States, the United Kingdom, the Middle East and Southeast Asia. Together, the parties will bring Japanese intellectual property (IP) to the global market, and in addition, original animation IP from Rainshine Global’s content library will be brought to Japan. (source link)

EigenLayer developer Layr Labs is raising $64 million

According to the US SEC official website announcement, Layr Labs, the developer of EigenLayer, the Ethereum re-pledging protocol, is about to complete a new round of financing of US$64 million, and has raised nearly US$56 million so far.
According to Crunchbase data, Layr Labs has previously raised $15.6 million through three rounds of financing.

Encrypted tax startup Divly completes $400,000 in financing, DHS Venture Partners and others participate

Encrypted tax service startup Divly announced that it has completed $400,000 in financing, with participation from DHS Venture Partners, Greens Ventures and YEoS Ventures.
Divly provides convenient cryptocurrency market tax declaration services. It has established partnerships with Coinmotion, the largest virtual currency service provider in Finland, and Safello, the largest cryptocurrency broker in Sweden. Last year, it also reached cooperation with BYDFi and Coingecko.

Game company Believer completes US$55 million in Series A financing, led by Lightspeed and participated by a16z

The Believer Company, a gaming startup founded by former Bitcoin mining company Riot executives Michael Chow and Steven Snow, completed a $55 million Series A round led by Lightspeed Venture Partners, a16z, Bitkraft Ventures, Riot Games, 1Up Ventures, and Don Thompson’s Cleveland Avenue, Michael D. Eisner’s Tornante Company and others participated in the investment.
Believer will first develop original IP, narrative and technical games. The founder of Believer said that it is unlikely to launch any products in 3-5 years. Steven Snow said that the company hopes to use generative AI to do more things, but is not interested in NFT.

Encrypted quantitative trading company Spield Algorithm completed a new round of financing, BitValue participated in the investment

Encrypted quantitative trading company Spield Algorithm announced the completion of a new round of financing, with the participation of Web3 investment institution BitValue. The specific investment amount has not yet been disclosed.
The core team of Spield Algorithm currently manages crypto assets worth US$3 billion, and also acts as a liquidity provider for some crypto companies and CEXs. Its current asset management scale exceeds US$10 billion. BitValue’s investment in Spield Algorithm will also promote the application of AI quantitative trading and analysis in the Web3 field. (Globenewswire)

Tensor, the Solana ecological NFT trading platform, completes $3 million in financing, led by Placeholder

Tensor, the Solana ecological NFT trading platform, completed $3 million in financing, led by Placeholder, with participation from Solana Ventures, Alliance DAO, Big Brain Holdings, and Solana co-founders Anatoly Yakovenko and Raj Gokal. (Tech Crunch)

Web3 App Kresus Completes $25M Series A Funding Led by Liberty City Ventures

Serial entrepreneur Trevor Traina completed a $25 million Series A round for Web3 application Kresus, led by Liberty City Ventures, with participation from JetBlue Ventures, Craft Ventures, Franklin Templeton, and Salesforce founder Marc Benioff.
Kresus is not yet available and the website describes it as Part Exchange, Part Wallet and Part Guide. The funds will be used to continue building the app and to facilitate hiring efforts and key partnerships.

Web3 game studio Redemption Games completes $7 million financing

Web3 game studio Redemption Games announced the completion of a new round of financing of US$7 million, led by Play Ventures, with participation from Bitkraft, Merit Circle DAO, Orange DAO, and a group of game industry professionals.
Redemption Games is an independent studio spun off from the mobile game development giant AppLovin. It is currently using blockchain technology, Crypto collections and artificial intelligence solutions to develop games that can be marketed to the mass market, and will add in the game Web3 elements such as exchange-traded Crypto assets. (Venture Beat)

NFT trading market Coresky completes $6 million in financing

Coresky, a community-based NFT trading market, announced the completion of a $6 million Pre-Seed round of financing, led by PAYSON LEE PRIVATE FOUNDATION.
Coresky has designed a new business model that drives NFT transactions through Launchpad economics. Users can get “Ticket” by trading NFT in Coresky Marketplace, and then use the Ticket to extract NFT from the primary market asset package provided by Launchpad. Coresky will design a community membership system according to the user’s on-chain transaction behavior, and each layer has its own Corecard identity , different levels of Corecard will regularly receive different numbers of platform Tickets. (

Swiss bitcoin platform Relai completes $4.5 million in financing led by ego death capital

Swiss Bitcoin platform Relai announced the completion of a new round of financing of US$4.5 million, led by ego death capital, with participation from Timechain, Cabrit Capital, Lightning Ventures, Redalpine, and Fulgur Ventures.
Since its first seed round in 2020, Relai has raised a total of $11.8 million to date. The Relai platform allows retail investors to buy and sell bitcoins without additional registration, verification, and no deposit restrictions. The platform also allows investors to fully control their funds through non-custodial bitcoin wallets. Relai plans to use the new funds to upgrade to the Bitcoin Lightning Network and launch a white-label product. (

Ethereum expansion project Scroll raises USD 50 million, Sequoia China, Polychain Capital and others participate in the investment

The Ethereum expansion project Scroll announced the completion of a new round of financing of US$50 million, with Polychain Capital, Sequoia China (Sequoia China), Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, and Qiming Venture Partners participating. This round brings Scroll’s total funding to $83 million.
Scroll declined to comment on the valuation and structure of the round, but a source said the round values ​​Scroll at $1.8 billion. Scroll previously raised $33 million over two funding rounds at an undisclosed valuation at the time.
Scroll plans to use the new funding to continue building out its product, launching its mainnet, and expanding its ecosystem. Additionally, Scroll plans to grow its current team size from about 60 people to nearly 100.
At the end of February, Scroll announced that its Alpha test network is now live on Goerli, and any user can participate in its technical testing without permission. Additionally, Scroll is committed to iterating and improving the performance of zkEVM in the coming months.

TokenPocket participated in the seed round financing of NFT liquidity protocol Litra Finance

According to official news, the crypto wallet TokenPocket participated in the seed round financing of the NFT liquidity agreement Litra Finance. TokenPocket will provide comprehensive support for Litra Finance’s continuous development in the NFT field, including strategic investment, ecosystem support, etc. TokenPocket plans to leverage its technology to serve various Litra-based NFT protocols and platforms, including NFT lending and aggregators.
It is reported that this cooperation will enable Litra to utilize TokenPocket’s ecosystem resources, thus accelerating TokenPocket’s growth and development in the NFT market. TokenPocket mobile and browser extensions will be integrated with Litra Finance, enabling users to access Litra with one click through TokenPocket and enjoy all the services Litra provides. Additionally, the NFTFi protocol and other NFT applications incubated by TokenPocket will be natively supported and connected to Litra Finance. Litra will build an NFT liquidity pool to provide trading and liquidity mining services for TokenPocket users.

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Source: Liansheng Blackboard News original

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