Funding Wrap: The web3 startups financed last week

Funding Wrap: The web3 startups financed last week

over $ 100 million flowed into cryptocurrency startups last week when a handful of cryptocurrency startups secured the financing of prominent risk capital providers in the room.

At the top of the list-the Cosmos-based interoperable smart-contract network injective Labs secured $ 40 million from his last financing round led by Jump Crypto. BH Digital by Brevan Howard, the digital asset division of the hedge fund, also took part in the round.

ericchen, CEO of injective labs, told Blockworks that the company wanted to create the best possible environment for decentralized financial applications (Defi).

"We are developing for a general purpose [Layer-1] Blockchain, which has a sector-specific focus within decentralized financial applications," said Chen. "Injective exists for developers who want to build something that only the core modules or the core stack of injective can offer."

also service companies that close the gap between Web3 and Web2 have aroused the interest of risk capital last week.

The software-as-a-service startup Heirloom collected a seed round worth $ 8 million, led by Ripple Labs and Forte Labs. The company enables organizations to shape a large number of web3 assets such as non-fungible tokens (NFTS), decentralized identities (didS) and verifiable registration information.

nick daTe ceo by Heirloom said that the company was founded with the intention of helping the crypto industry to reach a mainstream audience.

"Our focus is currently on three things: business development, staffing and introduction of our first products," said Daze. "Our first product that comes onto the market is a no-code tool that enables stakeholders in companies to tok, distribute and measure their assets without needing a computer science background."

money was also directed to web3 companies that develop tools for the Creator Economy.

creatordao, a community that invests in the exchange for a percentage of her future income in Creator, announced today that it has launched a seed financing round of $ 20 million under the direction of the prominent crypto investor Horowitz and Initialized Capital.

emerging creative work apply to the DAO (decentralized autonomous organization) and selected participants have access to capital, mentoring and technology that can help enlarge their audience. Celebrities such as Paris Hilton, The Chain Smokers and Andrew East have registered as a member of the larger DAO community.

"Creators are companies today, but nobody found out how to help them exploit their growth potential," said Michael Ma, CEO and co -founder of Creatordao. "[Creators are] Investment vacuum similar to that that Y Combinator and Angel investors filled for tech entrepreneurs 17 years ago."

other remarkable financing rounds this week:

• The web3 accelerator Longhash Ventures puts on a 100 million dollar fund to expand the Asian crypto landscape.
• The NFT media sales platform Pinata collected a series A in the amount of $ 21.5 million by Greylock and Pantrea.
• The zero-knowledge-proof-startup risk zero has launched a seed round of $ 12 million under the direction of Bain Capital Crypto.
• Jito Labs-A web3 company that develops tools to improve MEV transparency and efficiency-secured $ 10 million from Multicoin Capital and Framework Ventures.

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The contribution Funding Wrap: The Web3 Startups Funded This Last Week is not a financial advice.