Blockchain Startups Raise $109.3M in Funding Rounds
This week, the blockchain sector witnessed 34 startups collectively raising $109.3 million in various funding rounds, from series A to grants. The top funding rounds showcase a variety of innovative projects focused on advancing web3, privacy, identity, and more.
Nexus Laboratories Raises $25M in Series A Round
Nexus Laboratories, a web3 startup specializing in zero-knowledge-powered scaling and privacy tools, secured an impressive $25 million in a series A round. Lightspeed Venture Partners and Pantera Capital co-led the investment, with contributions from Dragonfly Capital, Faction Ventures, and the Blockchain Builders Fund.
Layer3 Secures $15M for Onchain Identity
New York-based Layer3 closed a $15 million series A funding round, with ParaFi and Greenfield Capital as lead investors. The company’s omnichain identity and distribution protocol aims to streamline user engagement and token distribution across multiple blockchains, catering to millions of users globally.
NEAR Foundation Spinout Nuffle Labs Garners $13M
The NEAR Foundation announced the formation of Nuffle Labs, securing $13 million in funding to advance NEAR’s modularity and promote decentralized development. The funding includes a grant from the foundation and investments from Electric Capital, Canonical Crypto, Fabric Ventures, and Robot Ventures, among others.
Ava Protocol Completes $10M Seed Funding
Ava Protocol, previously known as OAK Network, raised $10 million in seed funding to support the development of cross-chain smart contract automation. Investors such as Electric Capital, Taisu Ventures, and Shima Capital back Ava’s vision of intent-centric, event-driven autonomous transactions for Ethereum and beyond.
Irys Concludes $8.9M Strategic Round
Irys, formerly Bundlr Network, secured $8.9 million in a strategic funding round led by Lemniscap. The startup focuses on improving on-chain data management and combating misinformation, aiming to enhance scalability and efficiency in blockchain ecosystems.
Symbiotic Secures $5.8M for Shared Security Protocol
Symbiotic, a developer of a shared security protocol, raised $5.8 million in a seed round led by Paradigm and cyber.Fund. The funding will support the company’s efforts to enable decentralized networks to bootstrap sovereign ecosystems through customized restaking implementations.
Kima Network Raises $5M in Pre-Seed Funding
Israel-based Kima Network closed a $5 million pre-seed funding round led by Blockchange Ventures and FinSec Innovation Lab. The startup aims to bridge traditional financial services with decentralized finance tools through its decentralized settlement protocol, with plans to develop web3 settlement infrastructure.
Paradigm’s New $850M Fund
Paradigm, a prominent crypto-focused venture capital firm, announced a new $850 million fund targeting early-stage crypto projects. The firm has been a key supporter of industry players like Uniswap, Optimism, and Flashbots, positioning itself at the forefront of the next wave of crypto innovation.
