Hike funding

Funding roundup: Major $1 billion and $200 million raises join startup frenzy

  • Luna Foundation Guard raised $1 billion in a private token sale, while Amber Group closed an extended Series B round of $200 million
  • Amid the massive rounds, there were also more modest raises, including a Series B round of $33 million for InfStones and a $34 million raise for Aligned.

As February draws to a close, cryptocurrencies are showing signs of recovery and capital continues to flow into crypto.

Over the past 24 hours, the cryptocurrency market has risen 9.7%, according to prices. The two largest cryptocurrencies by market cap, bitcoin and ethereum, were up 9.9% and 11.35%, respectively, as of 9:45 a.m. ET on Friday.

Over $1.3 billion worth of investments have flowed into the crypto sector this week. This is partly due to some major funding rounds, including Luna Foundation Guard’s $1 billion private token sale, which is one of the biggest raises in the crypto industry, and the extended Series B round. of $200 million from Amber Group.

Amid the massive rounds, there were also multi-million dollar raises, including a $33 million Series B close by blockchain infrastructure provider InfStones and a $34 million raise by a platform. -form of DeFi and Web3 Aligned infrastructure.

The total value locked on DeFi (decentralized finance) protocols has jumped in the last 12 months, from $52 billion to $196 billion, according to Data by DeFi Lama. With this rise in TVL, demand has also increased for the sector, Aligned founder Sam Cassatt told Blockworks on Thursday.

“Demand will continue to grow,” Cassatt said. “I don’t see it slowing down, it’s getting bigger day by day.”

Web3 and DeFi dominated the emerging tech investment landscape in Q4 2021, with $2.4 billion invested in 26 deals during that time, according to a PitchBook report on Thursday. The two sectors accounted for around 13%, or $4.3 billion, of the $33 billion in capital invested in crypto last year.

Other notable capital raises this week include:

  • The DeFi Teller protocol has served a $6.85 million strategic increase
  • Blockchain-based game Cradles has shut down a $5 million private tour led by Animoca Brands
  • DeFi App Catalog Saved $7.5M to Help Build a Cross-Chain and Multi-Chain Future
  • Emerging startup Web3 Fast Break Labs has filled a $6 million seed round led by Patron and Pantera Capital
  • Binance-backed fantasy strategy game Heroes of Mavia raised $2.5 million, led by Crypto.com Capital.

Check back next week for more funding news.

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  • Jacquelyn Melinek

    Jacquelyn Melinek is a New York-based journalist covering finance, decentralized finance (DeFi), and decentralized autonomous organizations (DAOs). She previously reported on energy markets for S&P Global Platts and Bloomberg News and is published in over 65 news outlets. She graduated from the University of North Carolina at Chapel Hill with a degree in media and journalism. Contact Jacquelyn by email at [email protected]