Weekly Financing Update | 11 projects received investment, with a disclosed total financing amount of approximately $85 million (5.12-5.18)

CN
11 hours ago

Original | Odaily Planet Daily (@OdailyChina)

Author | Dingdang (@XiaMiPP)

According to incomplete statistics from Odaily Planet Daily, from May 12 to May 18, there were a total of 11 blockchain-related financing events announced globally, an increase from 8 in the previous week, indicating a continued active trend in the blockchain sector. However, the total amount of financing announced this week was approximately $89 million, a decrease from $113 million in the previous week, showing a short-term contraction in financing scale.

Among the highlights of this week's financing, the AI video generation platform Hedra stood out, successfully raising $32 million, making it the project with the highest financing amount for the week. Following closely was the blockchain infrastructure platform Openverse Network, which secured $11 million in financing.

The following are specific financing events (Note: 1. Sorted by announced amount; 2. Excludes fund raising and merger events; 3. * indicates traditional companies involved in blockchain):

Weekly Financing Update | 11 projects received investment, total disclosed financing amount approximately $85 million (5.12-5.18)

AI video generation platform Hedra completes $32 million Series A financing, led by a16z Infra

On May 15, AI video generation platform Hedra announced the completion of $32 million in Series A financing, led by a16z Infra, with participation from a16z Speedrun, Index Ventures, and Abstract. The latest round of financing will primarily be used to support team expansion and product development. Hedra plans to double its workforce from the current 20 employees by the end of this year. The company also plans to enhance its Character-3 foundational model, invest in infrastructure to scale video rendering, and build enterprise-centered workflows for faster and higher-quality video production.

Openverse Network completes $11 million strategic round financing, with participation from Castrum Capital and others

On May 12, Layer0 blockchain infrastructure platform Openverse Network announced the completion of $11 million in strategic round financing, with participation from Castrum Capital, TB Ventures, DuckDAO, Asva Capital, and others. The new funds are intended to accelerate its ecosystem development globally, including ecosystem building, encouraging more developers and partners to join, and collaboratively constructing a more open and interconnected value network.

Perpl completes $9.25 million financing, led by Dragonfly

On May 13, the Perps DEX project Perpl announced the completion of $9.25 million in financing, led by Dragonfly, with participation from Ergonia, Brevan Howard, Breed, L1D, and CMS. Perpl plans to utilize Monad's high-performance EVM architecture to build a central limit order book (CLOB) on its chain. The team is based in London and aims to launch a testnet and plans to start the mainnet after the Monad mainnet goes live.

KYD Labs completes $7 million seed round financing, led by a16z Crypto

On May 14, blockchain ticketing platform KYD Labs announced the completion of $7 million in seed round financing, led by a16z Crypto. KYD Labs aims to allow artists and venues to control ticket sales, fan data, and revenue, addressing the issue of revenue loss. The platform is built on Solana, allowing fans to quickly purchase tickets, and plans to expand to over 100 venues in the U.S. by 2026.

On-chain liquidity distribution protocol Turtle Club completes $6.2 million seed round financing

On May 12, the on-chain liquidity distribution protocol Turtle Club announced the completion of $6.2 million in seed round financing, led by THEIA, with participation from Susquehanna, Consensys, and Ethereum co-founder Joseph Lubin, among others.

Solana ecosystem ticketing platform XP completes $6.2 million financing, led by Blockchange

On May 16, Solana ecosystem ticketing platform XP completed $6.2 million in seed round financing, with this round led by Blockchange, and participation from L1D and Reflexive, among others.

It is reported that XP is a ticketing platform based on Solana, primarily engaged in ticket discount sales, but it hints at greater ambitions in fan experience in the future.

Blockchain cloud computing company Nirvana Labs completes $6 million seed extension round financing, led by Jump Crypto and others

On May 13, blockchain cloud computing company Nirvana Labs completed $6 million in seed extension round financing, co-led by Jump Crypto and Crucible Capital, with participation from RW3 Ventures, Castle Island, and Hash3 VC, bringing its total financing amount to $11.8 million.

The company provides computing services tailored for the crypto sector, differing from traditional cloud service providers that centralize computing resources. Nirvana uses bare-metal infrastructure, with each server serving only one client. Nirvana has served infrastructure providers such as BitGo and Fireblocks, as well as protocol foundations like Avalanche and Berachain. Nirvana also plans to act as a front-end service to help organizations deploy on the internet-filtering startup DoubleZero.

Web3 protocol-based AI platform Giza announces completion of a total of $5.2 million in financing

On May 16, the AI platform Giza, based on smart contracts and web3 protocols, announced the completion of a total of $5.2 million in financing, serving as the infrastructure for Xenocognitive Finance, with investors including Base Ecosystem Fund, Echo, CoinFund, Re7 Capital, Stake Capital, ID Theory, CONTANGO, and others.

According to reports, Giza is developing a trustless protocol aimed at decentralizing machine learning inference computation, providing assurance for the open economy of open-source AI. It enables AI developers to generate zero-knowledge proofs, ensuring the transparency and credibility of verifiable machine learning model deployments.

XSY.fi launches core product Unity, completes $5 million Pre-A round financing to advance DeFi infrastructure construction

On May 16, decentralized finance capital management platform XSY.fi announced that its core product Unity (UTY) has officially launched a test version on the Avalanche blockchain and completed $5 million in Pre-A round financing. This round of financing was co-led by Protagonist Ventures and Borderless Capital, with participation from Paper Ventures, Chainview Capital, Blizzard the Avalanche Fund, Sonic Boom Ventures, and others.

Unity is a new type of digital synthetic dollar asset designed to enhance on-chain liquidity and capital efficiency by combining spot longs with perpetual contract shorts to create a delta-neutral strategy, allowing users to maintain exposure to the original asset while earning sustainable returns. During the testing phase, Unity has already secured over $20 million in asset commitments and will simultaneously launch a limited-time incentive program to encourage early participation.

Blockchain investment company Coinsilium raises £1.25 million, launches Bitcoin financial strategy

On May 16, blockchain investment company Coinsilium Group announced the completion of £1.25 million in institutional financing and simultaneously launched a £250,000 retail fundraising plan to advance its Bitcoin reserve strategy. The targeted issuance is priced at 3 pence per share, and the oversubscribed funds will be injected into its wholly-owned subsidiary Forza (Gibraltar) Ltd. as the operating entity. The company's executive chairman, Malcolm Palle, stated that this financing will accelerate the implementation of the Bitcoin reserve plan. Oak Securities has been appointed as a joint broker to strengthen capital market operations. The newly issued shares are expected to be listed on the Aquis Growth Market on May 22, bringing the total share capital to 274.7 million shares. Board member James Van Straten emphasized that the company is fully focused on the Bitcoin reserve strategy, and this fundraising includes an arrangement to pay £196,800 in service fees with 6.56 million ordinary shares.

SpaceComputer completes Pre-seed round financing, led by Primitive

On May 13, the SpaceComputer project announced the completion of Pre-seed financing, led by Primitive, with participation from nascentxyz, tangentxyz, symbolicvc, publicworksfm, Merkle Ventures, and Star-Shield, as well as several angel investors, including loiluu, co-founder of Polygon, and Melt_Dem. The specific amount of this financing has not yet been disclosed.

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