Bubblemaps, CoinScan, Hinkal Protocol and Mythic Protocol are among the latest crypto and blockchain companies to secure funding.
Crypto startups keep raising capital despite tight liquidity and adverse macroeconomic conditions. September saw major developments in the space, such as Farmville co-creator Amitt Mahajan raising $33 million to create Web3 games and Animoca Brands disclosing $20 million capital acquired to push forward the development of its Mocaverse platform.
In another related development, Blockchain Capital closed two new funds in September, with $580 million to be deployed in crypto gaming and decentralized finance projects in the coming months. Cointelegraph’s venture capital (VC) roundup reveals the latest projects raising capital despite the market’s long downward trend.
Bubblemaps secures $3.2 million for data visualization
Data visualization startup Bubblemaps secured 3 million euros ($3.2 million) in a seed funding round spearheaded by INCE Capital. According to the startup, the funding will be used to grow its team, recruit additional developers, and expand its social media marketing initiatives. Stake Capital, Momentum 6, Lbank, V3ntures, Nicolas Bacca of Ledger, Dyma Budorin of Hacken and French entrepreneur Owen Simonin also contributed to the funding. The company has the ambitious goal of becoming the Google Analytics of Web3. Partnerships have reportedly been set up with Arbitrum, Polygon, Avalanche and BNB Chain.
We're thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund.
— Blockchain Capital (@blockchaincap) September 18, 2023
Together, they total $580 million and serve to reinforce our commitment to leading the global transition to decentralized, blockchain-based systems. ↓https://t.co/Vr2uYnGlF7
Blockchain analytics CoinScan raises $6.3 million
Crypto analytics platform CoinScan raised $6.3 million in September. It seeks to offer safety checks, holders and airdrop analysis and social sentiment analysis across the crypto community. CoinScan is the first product from CryptoHub, which is a Web3 company focused on the blockchain economy and backed by DraftKings’ top individual shareholder and billionaire, Shalom MecKenzie, alongside investors from Playtech and iAngels. “Crypto, much like sports betting, should give people the tools and data to make their own assessments about risk and reward,” said MecKenzie in a statement, claiming CoinScan will provide data pulled from multiple sources to provide charting insights.
Hinkal Protocol secures $4.1 million to enhance privacy in DeFi trading
Privacy protocol Hinkal secured $4.1 million in a pre-seed funding round led by Draper Associates. The protocol is designed to offer an advanced privacy layer, where transactions and assets across various decentralized finance (DeFi) protocols are shielded from public visibility, according to a statement. The round also saw participation from Psalion Hedge Fund, NGC Ventures, NoLimit Holdings, Draper Dragon, Peer VC, Orange DAO, Web3.com Ventures and others. Draper Associates has invested in a range of tech companies, including Hotmail, Skype, Baidu, Tesla, SpaceX, Twitch, Cruise, Carta, Webflow, Robinhood and Coinbase.
Mythic Protocol raises $6.5 million seed round for collaborative entertainment
Mythic Protocol closed a $6.5 million seed round co-led by Shima Capital’s founder, Yida Gao, alongside Alpha JWC, Saison Capital, GDP Ventures, Planetarium Labs and others. The team behind the project is working in a collaborative entertainment ecosystem that utilizes a game-first strategy to acquire, retain and scale users. The funds will be deployed in the coming months to develop and launch the initial core offerings focusing on gamers, creators, and investors. “With a founding team that has launched over 250 game titles since 2009 from one of the biggest gaming studios in SEA, we have no doubt that they will carry their track record of success into the next cycle of gaming,” said Gao.
Before you go: ConsenSys launches pre-accelerator program for Web3 founders
Technology company ConsenSys announced the launch of its pre-accelerator program, ConsenSys Fellowship, to support early-stage Web3 startups. The fellowship aims to help early-stage startups bridge the gap between an idea with potential and a functional business, product or tool. The 12-week program will offer guided workshops, weekly curricula, mentorship and access to ConsenSys’ network to accelerate up to 15 startups. Fellowship teams will be eligible for follow-on investments from a $1.5 million fund.
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