VC roundup Emerging blockchain startups
Blockchain startups have recently raised a staggering $150.9 million in funding, showcasing the strong investment activity in the cryptocurrency industry. This week alone, 22 startups secured various funding rounds, according to Crypto Fundraising. The largest funding round was led by Partior, which raised $60 million in a Series B round. The company plans to enhance its global unified ledger-based interbank rails for real-time clearing and settlement. Peak XV Partners spearheaded the funding round, with participation from Valor Capital Group, Jump Trading Group, and existing investors such as J.P. Morgan, Standard Chartered, and Temasek. Partior intends to expand its international network and integrate more currencies into its platform, which currently supports the U.S. dollar, euro, and Singapore dollar. The company’s technology is already being used by major banks like DBS, J.P. Morgan, and Standard Chartered for payment flows.
Another notable blockchain startup, RedStone Oracles, raised $15 million in a Series A round. The company focuses on developing modular blockchain oracle solutions and aims to reduce gas fees for decentralized applications on Ethereum Virtual Machine (EVM) and rollup-as-a-service (RaaS) networks. Arrington Capital led the funding round, with contributions from Spartan, IOSG Ventures, and other prominent investors. RedStone has gained significant traction since its founding in 2021, boasting over 100 clients and securing $4 billion in value.
Israeli startup SendBlocks also emerged as a winner in the recent crypto VC funding, raising $8.2 million in seed funding. Castle Island Ventures led the round, with participation from Pitango, Illuminate Financial, Laser Digital, and Starkware. SendBlocks specializes in blockchain data management and provides a platform for blockchain enterprises to define critical data and extract valuable insights from the blockchain.
Other notable fundraises include Tabi (formerly Treasureland), which raised $16.1 million in a public sale round. Tabi is a decentralized marketplace for NFTs with trading, a launchpad, and a gaming platform. ZAP secured $15 million from investors, including Rarestone Capital and Cypher Capital, to focus on reputation-based token distribution and expand its services to new locations and blockchains. Rome Protocol emerged from stealth mode with $9 million in funding from top-tier crypto VC firms like Hack VC and P2 Ventures. The startup aims to use Solana (SOL) as an auxiliary network for Ethereum (ETH) layer-2 blockchains to enhance efficiency without compromising user experience. The cryptocurrency market is seeing renewed interest, as evidenced by the record inflows for Bitcoin ETFs.
