Web3 Financing Weekly Report Total financing amount of approximately $396 million USD, Hong Kong virtual bank WeLab receives $260 million USD asset financing from Citibank

Weekly Report Total Web3 Financing Reaches $396 Million USD, Hong Kong Virtual Bank WeLab Secures $260 Million USD Asset Financing from Citibank

Author: Jasur, Chain Tea House

Web3 Financing Weekly Report is compiled by Chain Tea House to provide information on the global web3 projects financing in the past week. The content is sourced from public media information and cannot be independently verified with each project at the moment. Please use it with caution.

This week, blockchain projects raised a total of approximately $396 million in funding, with 23 projects receiving financing. Among them, there are 2 web3 gaming projects, 4 DeFi projects, 1 NFT project, 0 web3 infrastructure projects, 15 web3 application projects, and 1 mining project. The main investment institutions involved include Citigroup, Polychain Capital, and more.

• ETH Hong Kong 2023 successfully concluded, empowering the innovation of the Web3 ecosystem.
• Web3 Tools on Solana: Unleashing the Blockchain Beast!
• Abu Dhabi Leads the Way with Groundbreaking DLT Regulation for DAOs and Web3 Innovations

Web3 Gaming

Web3 game studio Moonveil Entertainment completes $5.4 million seed round financing

Web3 game studio Moonveil Entertainment, based in the Cayman Islands, announced the completion of a $5.4 million seed round financing. Gumi Cryptos Capital and Arcane Group jointly led the investment, with participation from Longhash, IOSG, and Infinity Ventures Crypto. Moonveil’s leadership team consists of industry veterans who previously worked at Riot Games and Tencent. They are currently developing an immersive tower defense mobile game called Astrark and a multiplayer strategy game called Project B, which will integrate NFT elements.

Game studio Neon Machine raised $20 million, led by Polychain Capital

Game studio Neon Machine announced that it has raised $20 million in Series A financing. Polychain Capital led the investment, with participation from Griffin Gaming LianGuairtners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. According to a statement, these funds will be used for further development of “Shrapnel.” The game team plans to release an early access version in December, with a full launch scheduled for sometime in 2024. The Shrapnel team currently has a total of 70 employees.

DeFi

Surf Protocol raised $3 million in financing, led by ABCDE Capital

Surf Protocol raised $3 million in financing, with ABCDE Capital leading the investment and OP Crypto and C2 Ventures participating. The funding will be used to develop a permissionless Perp DEX (perpetual contract decentralized exchange) based on the Base network. Surf Protocol aims to provide users with a wider range of tradable Perp assets while reducing user trading friction.

Hong Kong virtual bank WeLab receives $260 million asset financing from Citigroup

Hong Kong virtual bank and online lending platform WeLab has secured $260 million in asset financing from Citigroup. Sources say that Citigroup is the sole senior underwriter for the deal, but due to its undisclosed nature, both Citigroup’s Hong Kong representatives and WeLab have declined to comment. The financing was first reported in November last year, with WeLab’s valuation estimated to be around $2 billion. WeLab has joined the Hong Kong Cyberport and is also a founding member of the Hong Kong Web3.0 Association.

OTC Secondary Market Platform STIX Completes $2.7 Million Financing

OTC secondary market platform STIX has completed a $2.7 million financing round. The round was led by Psalion VC, with participation from Big Brain Holdings, Eterna Capital, Fisher8 Capital, Humla Ventures, 0xkb, and TLF Ventures. STIX utilizes data-driven price discovery to enhance liquidity in the secondary market and also plans to release a suite of proprietary risk management and portfolio analysis tools.

DeFi and Web3 Compliance Solution Provider MicaLianGuaiss Completes €240,000 Financing

DeFi and Web3 compliance solution provider MicaLianGuaiss has announced the completion of a €240,000 financing round. Blockchain development company “SUPER HOW?” and startup accelerator Firstpick also participated. MicaLianGuaiss primarily offers anti-money laundering (AML) and know-your-customer (KYC) compliance services for DeFi protocols and Web3 users, aiming to prevent illicit cryptocurrency activities. The new funds will be used to accelerate the development of AI-integrated AML compliance tools.

NFT

iQ3Connect, the Metaverse Training and Collaboration Platform, Completes Seed Round Financing

The metaverse training and collaboration platform iQ3Connect has completed a seed round financing. LG Electronics’ venture capital fund, NOVA Prime Fund, participated, although the specific amount has not been disclosed yet. iQ3Connect enables individuals, teams, and businesses to create, deploy, collaborate, and learn from immersive and interactive 3D content on VR, AR, PC, or mobile devices. It also provides a training and experience platform that helps companies leverage 3D platforms and the metaverse for sustainable workforce training.

Web3 Infrastructure

None

Web3 Applications

Cryptocurrency Anti-Fraud Company Vaas Completes Approximately $2 Million Pre-Seed Financing

Brazilian cryptocurrency anti-fraud company Vaas has announced the completion of approximately $2 million in pre-seed financing. The round was led by ABSeed, with participation from Fuse Capital and Honey Island, a subsidiary of 4UM. The new funds will be used to develop new products and expand the business into traditional financial sectors such as banking. Vaas offers a solution that tracks the entire transaction history of assets within cryptocurrency wallets and identifies unconventional or suspicious transactions. The startup is currently in the proof-of-concept stage and plans to launch its blockchain transaction tracking platform next month in collaboration with major companies.

SCION Software Provider AnaLianGuaiya Systems Completes €1.8 Million Financing with Investment from Mysten Labs

Swiss SCION software provider AnaLianGuaiya Systems has announced the completion of a €1.8 million financing round with participation from Mysten Labs. The two companies plan to collaborate on building a secure, highly accessible, and high-performance Web3 infrastructure to support the next generation wide area network technology, SCION. The infrastructure aims to withstand routing attacks and denial-of-service attacks, providing strong identity authentication options for network traffic and offering security levels not present in traditional IP networks.

The citizen community platform Baseflow has completed a $2.5 million financing round.

The Network State ComLianGuainy, the parent company of the citizen community platform Baseflow, announced the completion of a $2.5 million financing round. Participants in the round include Balaji Srinivasan (former CTO of Coinbase), Tim Draper, Aragon DAO, Sandeep Nailwal (co-founder of Polygon Labs), Roneil Rumburg (co-founder of Audius), Andrea Dusi, Max Merenti, and Enzo Coglitore (Product Manager and Partner at Alchemy Ventures).

The Access Protocol, an ecosystem content monetization protocol, has completed a $1.2 million seed funding round.

The Access Protocol, a Solana-based ecosystem content monetization protocol, announced the completion of a $1.2 million seed funding round. Participants in the round include Sora Ventures, DV Ventures, CMS Holdings, Double Peak Group, and other angel investors. The funding will be focused on the development of Access v2 as well as the Scribe and Sketch platforms.

KeynesLianGuaiy, a cryptocurrency payment platform and partner of Revolut, has completed an $8.5 million seed funding round.

KeynesLianGuaiy, a Singapore-based cryptocurrency payment platform and partner of Revolut, has completed an $8.5 million seed funding round. Revolut will work together with KeynesLianGuaiy to enhance the development of digital currency payment cards and platforms. KeynesLianGuaiy plans to connect fiat currency and cryptocurrencies and build integrated payment channels. The company has already applied for relevant licenses in the European Union, North America, and specific regions in Asia to ensure that KeynesLianGuaiy offers diverse payment channels to global users. KeynesLianGuaiy provides payment solutions based on stablecoins and blockchain, supporting the purchase of fiat cryptocurrencies from 125 countries/regions through multiple methods. The company claims that the login process now takes less than a minute with TapSafe, without sacrificing security. The CEO of the company stated that this is a tool designed for the masses.

YouTrip, a Singaporean fintech company, has completed a $50 million Series B financing round led by Lightspeed.

YouTrip, a Singaporean fintech company, announced the completion of a $50 million Series B financing round led by Lightspeed. To date, the total amount raised by YouTrip has reached $100 million. YouTrip primarily offers consumers a multi-currency digital wallet and provides small and medium-sized enterprises with corporate account services supporting company cards. The company has obtained a license from the Monetary Authority of Singapore.

De.Fi secures investment from OKX Ventures.

Web3 SocialFi and antivirus super app De.Fi announced that they have secured investment from OKX Ventures. According to the official website, De.Fi’s investors also include HOF Capital, Huobi, MEXC, NGC, and former executives of Coinbase and Binance.

Avalanche’s social protocol Stars Arena prepares for a seed funding round.

Avalanche’s social protocol Stars Arena posted on the X platform (formerly Twitter) stating that Arena is preparing for a real financing initiative. The founding team, from the early stages to today, has officially established a company ready to enter the seed funding round. It has been a long journey. We are partnering with Avalaunch to provide guidance during the fundraising process and offer advice on building a sustainable economy while rewarding users and creators in the development of Arena. Arena welcomes their support as we take steps towards becoming one of the most influential native crypto applications.

Digital asset trading solution Rulematch completes Pre-A round of financing

Swiss digital asset trading solution provider Rulematch announced the completion of its Pre-A round of financing, with the specific amount undisclosed. Leading the investment were FiveT Fintech (formerly known as Avaloq Ventures) and Consensys Mesh, with liquidity provider Flow Traders also making an investment commitment in this round of financing. Rulematch primarily serves financial institutions by customizing trading systems tailored to their needs. In addition, they provide digital asset market data analysis services for financial institutions, and the company is currently preparing for its Series A financing.

DAO investment management protocol Aera completes $8 million financing, led by Bain Capital Crypto

Aera, a new startup by DeFi risk manager Gauntlet founder Tarun Chitra, announced the completion of $8 million financing, with Bain Capital Crypto leading the investment and Jump Trading participating. Aera is a decentralized protocol designed to help decentralized autonomous organizations (DAOs) manage their finances. Chitra stated that Aera’s goal is to enable DAOs to quickly respond to market changes without sacrificing decentralization principles, providing them with crowdsourced portfolio management advice.

Cryptocurrency trading execution tool provider Anboto Labs completes $3 million financing, with participation from Matrixport and others

Hong Kong-based cryptocurrency trading execution tool provider Anboto Labs announced the completion of $3 million financing and the launch of an institutional-grade non-custodial trading platform. This financing, completed in Q3, includes participation from Kronos Ventures, Cherry Crypto, Mechanism Capital, XBTO, and Matrixport.

Threedium, a space computing technology company for the metaverse, completes $11 million Series A financing

Threedium, a space computing technology company for the metaverse, announced the completion of $11 million Series A financing, with Interpublic Group and Olma LianGuairtners leading the investment and participation from Web3 investment and development company Mesh Consensys, Reflexive Capital, Nirvana Family Office, Lyra Ventures, Edenbase, and Kinisis Venture Fund I.

The new funding will be used to drive space computing and network 3D content production, as well as deepen AI research and development to enhance the efficiency of 3D models.

Web3 healthcare information platform Rymedi raises $9 million in Series A financing

Web3 healthcare data company Rymedi has secured $9 million in Series A financing. RW3 Ventures and White Star Capital co-led this round of financing, with participation from Blockchange Ventures and Avalanche. Rymedi simplifies the transmission of medical records and data through blockchain and plans to use the funds from this round of financing to enhance data security and accessibility of medical records.

Nocturne Labs completes $6 million seed round financing

Cryptocurrency startup Nocturne Labs announced the completion of $6 million seed round financing, with co-leading by Bain Capital Crypto and Polychain Capital and participation from Vitalik Buterin, Bankless Ventures, Hack VC, Robot Ventures, and others. Reportedly, Nocturne is developing a protocol that allows users to transact anonymously within the Ethereum ecosystem. They can prove ownership of these funds through zero-knowledge proof technology and use them for payment, trading, gambling, and other transactions.

Saudi NEOM Investment Fund established and announces investment in Animoca Brands and other companies

According to official sources, NEOM Tech & Digital, a subsidiary of the “Neom” new city construction project led by Saudi Crown Prince Salman, has announced the establishment of the NEOM Investment Fund (NIF) to support the development and construction of NEOM’s 14 priority sectors. NIF will invest in technology startups worldwide through mergers and acquisitions and venture capital, focusing on pioneering growth companies and next-generation industries. NIF will also establish joint ventures and partnerships with multinational companies, institutional investors, and innovators within NEOM. As part of the opening ceremony, NIF announced a new round of investments in companies such as Animoca Brands, Pony.ai, Regent, Boom Technology, and BlueNalu. More details will be announced in the coming days.

Mining

Listed mining company Quantum Blockchain completes approximately $2.4 million financing

London Stock Exchange-listed mining company Quantum Blockchain has raised £2 million (approximately $2.4 million) through a new share placement. The new funds will be used to advance its research and development plans through increased hiring, new hardware, and additional software development, and may also establish cloud service infrastructure in North America.

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