Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

This Week’s Crypto Funding Rounds: $191.5 Million Raised Led by Raincards, M^ZERO, Amdax, OrangeX, aPriori, & Others

bullish:

0

bearish:

0

Share
money case 11

New data posted today by market analyst CryptoRank highlighted top crypto projects that raised significant amounts of funds over this week. In the final week of August, seven Web3 projects cumulatively raised $191.5 million across various crypto funding rounds, indicating stability similar to earlier weeks of the month.

7 Crypto Funding Rounds This Week

Raincards

Raincards, a stablecoin payment infrastructure firm recognized for issuing stablecoin-based Visa cards, is at the top of the list as it acquired the largest fundraising this week. The stablecoin firm raised a $58 million funding round led by Sapphire Ventures and Galaxy Ventures and participated by other companies, including Dragonfly, Endeavor Catalyst, Samsung Next, and Lightspeed.  Raincards said it will use the new funding to widen its platform and products to give international institutions the most compliant, versatile, and scalable stablecoin infrastructure available.

M^ZERO

Mzero, a decentralized infrastructure layer for digital asset value transfer, is second on the list. The DeFi platform raised a $40 million funding round led by Polychain and Ribbit Capital. Other major investors, including PANTERA Capital, Bain Capital Crypto, and Endeavor Catalyst, also participated in the round. According to Mzero, the new funds are designed to expand its DeFi infrastructure.

Amdax

Amdax, an Amsterdam-based crypto-asset service provider, followed. The crypto firm completed its initial funding round, raising $23.4 million from TBD. Amdax disclosed that it will use the funding to build a Bitcoin accumulation strategy.

OrangeX

OrangeX, a global cryptocurrency exchange, secured the fourth position in this list. The digital asset exchange completed a $20 million Series B funding round led by Kryptos and supported by participation from SCI Ventures and others. As per OrangeX, it will utilize the newly acquired capital to develop its core infrastructure and expedite its international market expansion.

aPriori

Fifth on the list is aPriori, a DeFi protocol that specializes in liquid staking and optimizing capital productivity. The Web3 startup raised $20 million from participants, including Pantera Capital, HashKey Capital, Primitive Ventures, IMC Trading, Gate Labs, and others.  According to aPriori, it will use the new funds to develop its trading infrastructure platform, which seeks to bring HFT (high-frequency trading) on-chain and solve technical and market obstacles in DeFi.

Other Market Performers and Funding Slowed In August  

Other crypto projects that raised significant funding rounds this week include the Clearing Company and Hemi Network.

The Clearing Company, a prediction market startup, raised $15 million led by Union Square Ventures and supported by other investors. Hemi Network, a Bitcoin programmability network, secured $15 million in funding to help further build its growth on Bitcoin.  

In another important observation noted in the data, the total amount of cryptocurrency funding rounds closed in August reached $5 billion, a decrease of 20.6% from July’s $6.54 billion. The drop was caused by a decline in the average investment round size, which decreased to $86.07 million in August from $108.29 million noted last month. The decline in funding and a fall in average investment round size indicate a calming phase in the virtual currency market. However, the consistency of substantial funding rounds experienced over recent months suggests that the digital asset landscape remains stable and innovative. 

bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.