Web3 Weekly Financing Overview (9.25-10.1)

Web3 Weekly Financing Overview (9.25-10.1)

According to the incomplete statistics of the encrypted DAO, there were over 14 financing events in the global cryptocurrency industry last week (9.25-10.1), with a total financing amount of approximately $80 million. Both the number and amount of financing have decreased, with a significant proportion in the infrastructure sector. After sorting and filtering, the encrypted DAO has selected 10 representative financing projects from last week’s financing information and compiled them into the following table:

In addition, the encrypted DAO summarized the financing trends from last week, the specific analysis is as follows:

• Last week, there was a high level of financing heat in the underlying infrastructure sector, and the types of projects announcing financing information included account abstraction, Fully Homomorphic Encryption (FHE), and oracle, among others. Among them, the oracle and VRF service provider Supra announced that they have completed tens of millions of dollars in financing.

  • Meng Yan ‘Reflection on the Blockchain Industry’—How can trust be generated and disseminated without relying on authority in the past decade?
  • Is something with no elasticity in supply not suitable to serve as currency?
  • Web3 Social Resurgence Who will be the next phenomenon-level application among friend.tech, Telegram, and others?

• The heat of DeFi has shown a significant rebound compared to the previous week, with the proportion of announced financing reaching nearly 30%. Among them, Restake Finance, a liquidity restaking platform supported by EigenLayer, announced the completion of seed round financing. With the launch of this project, restaking may become a hot topic in the industry for a period of time.

• The number of financing projects disclosed in the blockchain gaming, NFT, and metaverse sectors has significantly decreased, but there have been large financing projects. Among them, Web3 startup IYK completed a seed round financing of over tens of millions of dollars led by a16z Crypto.

• How to leverage the advantages of blockchain technology in other application scenarios is still a direction explored by many entrepreneurs. Last week, the announced financing projects covered concepts such as token-based enterprise financing and employee participation, Bitcoin insurance, and blockchain cloud SaaS. Among them, Bitcoin insurance platform AnchorWatch raised $3 million led by Ten31.

For more details on financing, please refer to the following:

---

I. Infrastructure & Tools

Project Name: Pimlico

Website: https://www.pimlico.io/

Attention: High

On September 25th, account abstraction developer Pimlico completed a $1.6 million Pre-Seed round of financing, led by 1confirmation, with participation from Safe, Consensys, and dozens of angel investors. It is understood that Pimlico mainly provides functions including ERC-20 token gas payment, multi-signature schemes, social recovery, and spending limits.

Project Name: Fhenix

Website: https://www.fhenix.io/

Attention: High

On September 26th, Fhenix, the first blockchain driven by Fully Homomorphic Encryption (FHE), completed a $7 million seed round of financing, led by Multicoin Capital and Collider Ventures, with participation from Node Capital, Bankless, HackVC, TaneLabs, Metaplanet, and others. It is understood that the funds raised in this round will be used to introduce a public testnet for the Fhenix network early next year and support the development of ecosystem applications.

Project Name: Supra

Official Website: https://supraoracles.com/

Attention: High

On September 28th, Supra, an oracle and VRF service provider, announced that it has completed a financing round of over $24 million. Participants in this round of financing include Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Ventures, No Limit Holdings, and other corporate institutions. Supra aims to provide provably fair and high-performance oracle services for DeFi developers and end consumers.

Project Name: Rated

Official Website: https://www.rated.network/home

Attention: Medium

On September 27th, Ethereum blockchain browser Rated announced the completion of a $12.89 million Series A financing round. Archetype led the round, with participation from seed investors Placeholder, 1confirmation, Cherry and Semantic, as well as new supporters Robot Ventures, Chorus One, Factor, and Maelstrom. Rated Labs primarily provides Ethereum blockchain browsers, data APIs, and oracles, and plans to expand its products to multiple public chains including Polygon, Solana, Cosmos, and Polkadot next year.

Project Name: LianGuairaX

Official Website: https://parax.ai/

Attention: Medium

On September 30th, Web3 super app LianGuairaX announced the completion of a strategic financing round. Hong Kong-based digital asset wealth management company Metalfa participated, but the specific amount of this financing has not been disclosed. LianGuairaX is the result of the merger between NFT lending protocol LianGuairaSLianGuaice and Polkadot ecosystem DeFi protocol LianGuairallel Finance. It is a Web3 super application supported by account abstraction and zkVM, aiming to provide users with a LianGuairaX ecosystem covering account abstraction, meta-user interface, zkVM, etc., enabling users to more conveniently manage their multi-chain assets and identities.

---

II. DeFi/Staking

Project Name: Restake Finance

Official Website: https://www.restakefinance.com/

Attention: High

On September 28th, liquidity restaking platform Restake Finance announced the completion of a $500,000 seed financing round. AlfaDAO, DCD, Yields and More, and Moni participated in this round of financing. Restake Finance is supported by EigenLayer.

Project Name: Avantis Labs

Official Website: https://www.avantisfi.com/#

Attention: High

On September 26th, DeFi derivatives trading platform Avantis Labs completed a $4 million seed financing round. LianGuaintera Capital led the round, with participation from Founders Fund, Base Ecosystem Fund (a subsidiary of Coinbase), and Modular Capital. The funds from this round of financing will be used to develop its flagship products: perpetual contract trading and liquidity protocol Avantis.

Project Name: Bril Finance

Official Website: https://www.bril.finance/

Attention: Medium

On September 27th, DeFi portfolio management startup Bril Finance completed a $3 million seed financing round. FalconX, Kosmos Ventures, and Algorand Foundation participated. Bril Finance is a decentralized portfolio management platform that adjusts users’ positions using algorithms and automatic token deployment. The project is collaborating with Sei and plans to expand to multi-chain ecosystems.

Project Name: Zunami Protocol

Official Website: https://www.zunami.io/

Attention: Medium

On September 27th, decentralized stablecoin yield protocol Zunami Protocol announced the completion of its angel round financing, with participants including Cream Finance, individual investors such as Curve founder Michael Egorov, Mr. Block, Convex members C2tP and Winthorpe on Twitter, Hubirb on Twitter, and other Stake DAO contributors, as well as core contributors from AladdinDAO like LianGuaiuls. It is understood that Zunami V2 is planned to launch in November.

---

3. Blockchain Games

Project Name: Fableborne

Official Website: https://fableborne.com/

Attention: Medium

On September 28th, blockchain game Fableborne, developed by Web3 game studio Pixion Games, updated its financing information, stating that it has raised $7.8 million so far this year. Investors include Mechanism Capital, VGC, Merit Circle, Eldridge, GSR, Zee Prime Capital, Big Brain Holdings, Builder Capital, Avalanche Foundation’s Blizzard Fund, Shima Capital, and ReadyPlayerDAO. It is understood that the company completed a $5.5 million seed round financing in June of this year.

---

4. NFT & Web3 Creation & Metaverse

Project Name: IYK

Official Website: https://www.iyk.app/

Attention: High

On September 29th, Web3 startup IYK completed a $16.8 million seed round financing, led by a16z Crypto, with participation from 1kx, Synergis Capital, Collabcurrency, Lattice Capital, and gmoney. It is understood that IYK is a Web3 startup founded in 2021, providing tools for brands such as Adidas and Johnnie Walker to connect the real world and the digital world. The company has already recruited over 100 creators from industries such as fashion, music, and art. To attract more brands and creators, it is launching a self-service platform to help create digital physical experiences.

---

5. Others

Project Name: Tokenize.it

Official Website: https://www.tokenize.it/

Attention: Medium

On October 1st, token-based enterprise financing and employee participation platform Tokenize.it announced the completion of a €2 million seed round financing, with participation from High-Tech Gründerfonds (HTGF), w3fund, Seed + Speed, and a group of angel investors. It is understood that Tokenize.it provides compliant and standardized financing procedures for enterprise investment transactions by mapping profit participation rights onto tokens, and ensures automated execution of financing transactions based on blockchain smart contract technology, thereby bringing better trust and transparency.

Project Name: AnchorWatch

Official Website: https://www.anchorwatch.com/

Attention: Medium

On September 26th, Bitcoin insurance platform AnchorWatch completed a $3 million financing round, led by Ten31, with participation from Axiom BTC, Timechain, Bitcoin Opportunity Fund, UTXO Management, and other companies. It is understood that AnchorWatch’s proprietary Trident Vault software provides a protocol-native custody solution for Bitcoin holders, supported by regulated high-quality insurance.

Project Name: Cygnetise

Official Website: https://www.cygnetise.com/

Attention Level: Medium

On September 25th, Cygnetise, a blockchain cloud SaaS platform based in London, announced the completion of a £2.5 million Pre-A round of financing. The investment was led by Adjuvo, a British investment group, with participation from Massive and others. It is understood that Cygnetise utilizes its digital blockchain technology to improve and optimize the Authorized Signatory Management (ASM) process, assisting operational and finance departments of enterprises in digitally sharing authorized signatory information with banks and other counterparties, thereby enhancing efficiency, security, and operational excellence.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!