Overview of Crypto VC Funding
Over the course of a week, the crypto space witnessed significant activity in VC funding rounds, with over $130 million raised. Here is a breakdown of the key events from the week.
Chaos Labs Raises $55 Million
Chaos Labs, an on-chain risk management company, successfully secured $55 million in a series A round. The funding was led by Haun Ventures, with participation from Lightspeed Venture Partners, F-Prime Capital, and Wintermute. The company aims to enhance real-time risk management for DeFi protocols.
Sahara AI Secures $43 Million
Sahara AI, a decentralized AI blockchain platform, managed to raise $43 million in funding co-led by Binance Labs, Pantera Capital, and Polychain Capital. The platform, established in April 2023, has formed partnerships with major tech giants like Microsoft and Amazon.
Sling Money Raises $15 Million
Fintech startup Sling Money collected $15 million in a series A round. The platform utilizes stablecoin technology to facilitate money transfers across Europe and Africa, offering users instant money transfer services.
Essential Receives $11 Million
Essential, the company behind the first declarative blockchain, closed an $11 million series A funding round. The funding, led by Archetype, will support the development of the blockchain technology to revolutionize interactions in web3.
Other Notable Crypto VC Fundraising
In addition to the above, Coinduit secured $6 million in a seed extension round, while Ion Protocol raised an additional $4.8 million. These funding injections will support the expansion and development of their respective platforms in the crypto space.
