The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
Crypto company Zama raised $73 million
French cryptocurrency company Zama, which helps developers create privacy-focused apps, has closed a $73 million Series A funding round.
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We’re thrilled to announce our $73 million Series A funding, led by @protocollabs and @multicoincapto bring FHE to the fore, and give developers tools to tackle data privacy challenges across blockchain and AI use cases.
Read more @TechCrunch pic.twitter.com/gsMTvha3zQ
— Zama (@zama_fhe) March 7, 2024
It was led by Multicoin Capital, Protocol Labs and Filecoin with the participation of Metaplanet, Blockchange Ventures, Vsquared Ventures, Stake Capital, Solana founder Anatoly Yakovenko, Polkadot founder Gavin Wood and other business angels.
Zama CEO Rand Hindi said The Blockthat the company’s total funding exceeded $80 million. He declined to disclose the project’s valuation.
Founded in 2020, Zama has a team of 75 people with experience in cryptocurrencies, machine learning and blockchain. Half of them have PhDs in their respective segments, Hindi said. The company plans to increase its staff.
Modular blockchain Avail raised $27 million from Peter Thiel’s fund
Modular blockchain developers Avail have closed a seed round of funding worth $27 million.
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The day is here! We’re unfolding the cards!
Avail raises $27m, led by @foundersfund and @dragonfly_xyz to accelerate the unification of web3!
With this, we’ll build the Avail trinity — a three-phase roadmap aimed at unifying multiple ecosystems in web3.
Consisting:
• Avail… pic.twitter.com/DbmuNdoPKz
— Avail (@AvailProject) February 26, 2024
It was led by billionaire Peter Thiel’s Founders Fund and Dragonfly, with participation from SevenX Ventures, Figment Capital and Nomad Capital.
The solution is designed to reduce the load on blockchains by moving data and increasing scalability “across the board.”
Avail is positioned as a data availability layer for Optimism, Validium and other zero-knowledge proof solutions to run on top of it. The technology will allow data to be hosted and validated offline, serving as a key component of the concept of a modular network structure.
Ether.Fi Restaking Protocol Raises $23 Million
EigenLayer-based restaking protocol Ether.Fi has closed a $23 million Series A funding round.
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We’ve raised $27M led by @Bullish and @coinfund_io!
Crypto is back baby!
We had a huge number of amazing investors participate in this round and now have 95+ investors backing https://t.co/gbHcksxzp2@ambergroup_io@BanklessVC@OKX_Ventures@Consensys@SeliniCapital… pic.twitter.com/u7OCPqnbak
— ether.fi (@ether_fi) February 28, 2024
It was led by Bullish Capital and CoinFund with participation from OKX Ventures, Foresight Ventures, Consensys and Amber.
According to DeFiLlamathe volume of blocked assets in Ether.Fi is $2.2 billion, which gives it 16th place in the ranking.
Web3 company Baanx raised $20 million from Tezos
The British company Baanx, focused on cryptocurrency payments, has closed a Series A funding round in the amount of $20 million, reports CoinDesk.
According to the publication, investments were provided by Ledger, Tezos Foundation, Chiron and British Business Bank. The company’s total funding exceeded $30 million.
The funds raised will be used to implement services in the United States and Latin America by the end of 2024. Baanx user base is more than 150,000 people.
Crypto ecosystem Backpack raised $17 million at a valuation of $120 million
Backpack, the company behind the cryptocurrency wallet and exchange of the same name, as well as the Mad Lads NFT collection, has closed a $17 million Series A funding round.
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We’re happy to announce our $17 Million strategic series A round led by @placeholdervc. pic.twitter.com/bn3EWsAIj5
— Backpack 🎒 (@Backpack) February 28, 2024
It was led by Placeholder VC with participation from Hashed, Robot Ventures, Amber Group, Wintermute Ventures, Selini Capital and Delphi Digital.
The company’s valuation reached $120 million.
L2 project Taiko raised $15 million
The second-layer Ethereum scaling solution project, Taiko, has closed a Series A funding round worth $15 million.
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We’re excited to announce that Taiko Labs, the core development team behind the Taiko protocol, has raised $37M in total capital across three rounds!
— Taiko 🥁 (@taikoxyz) March 2, 2024
It was led by Lightspeed Faction, Hashed, Generative Ventures and Token Bay Capital, with participation from Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR and WW Ventures.
The total amount of funding for the project reached $37 million. In June 2023, the team announced the closure of two investment rounds in the amount of $22 million.
Taiko is creating a solution for scaling Ethereum that is “as close as possible to the design and ideology” of the network. The company described the development as a zero-knowledge Ethereum virtual machine of the first type (zkEVM Type 1).
In January 2024, Taiko launched the Katla (Alpha-6) testnet, which will lay the foundation for the mainnet.
Blockchain Initia raised $7.5 million
Former developers of Terra and Cosmos raised $7.5 million for the Initia blockchain, focused on rollup technology.
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Interwoven rollups will bind together the modular future.
Initia is proud to announce our $7.5m seed fundraise led by @Delphi_Digital and @hack_vc along with prominent angels @cobie, @dcfgodand @SplitCapital to build a network for interwoven rollups. pic.twitter.com/9RWxaqWbFu
— India (@initiaFDN) February 27, 2024
Investments were provided by Delphi Ventures and Hack VC with participation from Nascent, Figment Capital, Big Brain and A.Capital.
At the time of writing, the blockchain platform is in a closed testing stage. The open version is expected in the first quarter of 2024.
The goal of the project is to facilitate the process of creating a second-level network with instant support for various functions and Ethereum and Cosmos blockchains.
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2024-03-09 16:05:08
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