Praxis takes home $525m, Blockstream follows suit with $210m

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Praxis and Blockstream grabbed headlines this week, each with six-figure fundraising rounds, per the latest data.

Crypto VC funding has seen a noticeable spike over the last seven days compared to last week, when Ithaca led the pack with a $20 million raise. However, this week, as Bitcoin (BTC) reclaimed the $68,000 level, crypto.news analyzed and collected data from data from Oct. 13 to Oct. 19.

Here are the firms that topped the list, according to Crypto Fundraising.

Praxis, $525 million

  • Praxis is the first network state, which is building an online community of people with similar national consciousness.
  • The firm leads the week’s crypto VC funding with $525 million raised.
  • The primary investors in the fundraising include Gem Digital, Arch, Manifold, etc.

Blockstream, $210 million

  • Blockstream is building a crypto-financial infrastructure based on Bitcoin.
  • The company has raised $210 million from lead investor Fulgur Ventures.
  • Blockstream’s crypto VC funding stands at $621 million in total.

Azra Games, $42.7 million

  • Azra Games is a gaming studio that focuses on creating immersive-role playing games.
  • In a Series A led by Pantera, the company raised $42.7 million.

Yellow Card Financial, $33 million

  • Yellow Card Financial is a pan-African crypto exchange.
  • The exchange raised $33 million in a Series C led by Blockchain Capital.
  • Yellow Card Financial has raised a total of $89.5 million so far.

Towns, $25.5 million

  • Towns is a web3 group chat protocol that allows communities to build blockchain-based gatherings.
  • The firm has raised $25.5 million in a Series A by a16z Crypto, Benchmark and Framework.

Bitnomial, $25 million

  • Bitnomial is a crypto exchange based in the U.S. that offers futures and options trading for cryptocurrencies.
  • The exchange raised $25 million from Ripple via a Series C funding round.
  • Bitnomial has raised $36.6 million so far.

ZkPass, $12.5 million

  • The identity verification solution has raised $12.5 million in a Series A round, with a round valuation of $100 million.
  • ZkPass has raised $15 million till date.

Opacity Network, $12 million

  • Opacity Network is a zero-knowledge proof protocol that aids in enabling verification without disclosing any details.
  • The firm has raised $12 million in a seed funding round.

Solv Protocol, $11 million

  • Solv Protocol provides investors with access to crypto investments via a trustless fund infrastructure.
  • The company raised $11 million in a strategic round with a round valuation of $200 million.

Mento Labs, $10 million

  • Mento Labs is a platform that creates and operates multi-currency stable assets.
  • The firm has raised $10 million on Oct. 16.

Crypto VC funding rounds < $10 million

  • Predicate: The decentralized network raised $7 million.
  • ZeroBase: The ZK proof generation platform raised $5 million from investors like Binance Labs, Lightspeed Action, etc.
  • Drop Protocol: Drop Protocol raised $4 million in a seed funding round.
  • Plasma: The zero-fee payment platform raised $3.5 million.
  • Pell Network: Pell Network raised $3 million in a pre-seed round.
  • Blockcast: The content delivery network raised $2.85 million in a seed funding round.
  • The Arena: The Arena raised $2 million in a pre-seed round.
  • Hyve DA: The data availability network raised $1.85 million in a pre-seed round.
  • Surge: Surge raised $1.8 million in a pre-seed round from investors like Gerstenbrot Capital, CoinGecko, etc.
  • Hermetica: The DeFi platform raised $1.7 million in a seed round.
  • Lombard: Lombard raised $1 million from Binance Labs.
  • World of Dypians, CCData, Bracket Labs and Marketnode raised undisclosed amounts this week.

Check out our last week’s column from here.


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