Wallet-as-a-service provider Magic completes $52 million in financing | Investment and Financing Weekly Report

According to Foresight News statistics, from May 27th to June 2nd, a total of 20 investment and financing events occurred in the encryption market, including 7 transactions in tools and infrastructure, 2 transactions in the DeFi field, 3 transactions in the asset management field, chain games and NFT fields 3 pens, 5 pens in the Web3 field. The total amount of investment and financing has been disclosed is about 139 million US dollars, and the amount of multiple financings has not been disclosed.

This week, there were 4 tens of millions of US dollars in financing, including wallet-as-a-service provider Magic completing US$52 million in financing; Transak completed US$20 million in Series A financing, led by CE Innovation Capital; blockchain game Illuvium completed US$10 million in financing, Ventures participated in the investment, etc.

In the investment and financing subdivision track, the tools and infrastructure fields were relatively active this week, while the DeFi field continued to be depressed.

In terms of institutions, active institutions this week include PayPal Ventures, CE Innovation Capital, Framework Ventures, Circle Venture, etc., mainly focusing on tools and infrastructure.

Note: Fundraising from investment funds is not included in project financing.

Tools and Infrastructure

Encrypted wallet development platform Demox Labs completes $4.5 million in financing, led by HackVC

Encrypted wallet development platform Demox Labs completed $4.5 million in financing, led by HackVC. Demox Labs will support the development of various products for the privacy blockchain Aleo. The first product of Demox Labs is Leo Wallet, a privacy protection wallet.

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Cipholio Ventures made a strategic investment in Meta Era, a Web3 content ecological aggregator in Hong Kong

Cipholio Ventures, a Web3 investment agency, announced that it will make a strategic investment in Hong Kong's Web3 content ecological aggregator Meta Era. The investment amount is undisclosed. application. Cipholio Ventures will partner with Meta Era to pave the way for a series of Web3-focused online events, including webinars, live panel discussions and interactive Q&A sessions. In addition to online events, Cipholio Ventures and Meta Era plan to organize offline events such as conferences, seminars, and meetups in major cities around the world.

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Quantum Blockchain, a mining company listed on the London Stock Exchange, completed a financing of approximately US$1.24 million

Quantum Blockchain (QBT), a research and development and investment company listed on AIM on the London Stock Exchange, announced that it has completed a 1 million pound (approximately US$1.24 million) financing through a stock placement (approximately 71 million shares were sold at a price of 1.4 pence per share). It is used to accelerate the development of its bitcoin mining machine algorithms and software products, while expanding its business in North America. QBT is a research and development and investment company listed on AIM of the London Stock Exchange, focusing on research and development programs in the field of blockchain technology, including cryptocurrency mining and other blockchain applications.

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Hogwarts Labs, a DApps research and development company, completed the Pre-A round of financing, led by Hash Global and Matrix Partners

Hogwarts Labs, a Web3+AI-focused DApps research and development company, announced the completion of the Pre-A round of financing, with a total financing of 8 million US dollars. Hash Global, Matrix Partners, XIN Family and DHVC led the investment, SevenX, Alliance, SKY9, NGC Ventures, EVG, No Limit Holdings, Stratified Capital, Old Fashion Research, North Beta Capital and Puzzle Ventures participated in the investment, and its second AI assistant product serving Web3 users will be released no earlier than the fourth quarter of this year. Hogwarts Labs is committed to accelerating mass adoption by continuing to develop DApps and Appchain in the Web3 and AI fields. Its first product, QuestN, is a one-stop marketing, growth and analysis platform serving the Web3 field. The total number of users has exceeded 2.5 million , DAU exceeded 80,000.

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Wallet-as-a-Service Provider Magic Completes $52M Financing

Wallet-as-a-service provider Magic has raised $52 million led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone and Volt Capital. Magic provides secure, instant non-custodial wallet creation. Users can create wallets instantly through existing email, social, SMS or federated logins. At present, Magic has generated more than 20 million wallets, and its SDK is used by more than 130,000 developers.

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TomoChain is invested by Coin98 Labs and will integrate Coin98 Wallet as the official wallet

TomoChain, a scalable blockchain, announced that it has received an undisclosed investment from Coin98 Labs. TomoChain will use the new funds to strengthen its infrastructure, innovate technology, and prepare for the influx of DApps that will be developed on its network . Next, Coin98 Wallet will be integrated into TomoChain as an official wallet.

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ZkMe, a provider of zero-knowledge identity oracles, completed a $2 million Pre-Seed round of financing, with participation from Circle Ventures and others

The zero-knowledge identity oracle machine zkMe completed a $2 million Pre-Seed round of financing, with participation from Circle Ventures, Spartan Group, CMS Holdings, Fenbushi Capital, NGC Ventures, and Arkstream Capital. It plans to use the new funds to accelerate development and complete the main project within one month. Online test and online customer registration function. ZkMe allows users to encrypt their data and attest claims on their own devices using ZKP to efficiently authenticate users while keeping their privacy safe.

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"Blockchain-as-a-Service" startup Sparq Labs launches $18 million Series A funding

Blockchain-as-a-service (Baas) startup Sparq Labs announced an $18 million Series A round six months after it closed a $680,000 seed round. The new funds will be used to accelerate the construction of the cross-chain grid SparqNet Gateway. SparqNet is an SDK toolchain that acts as a protocol, allowing users to build scalable blockchain infrastructure using C++ without relying on any VM.

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DeFi

LSD Stablecoin Protocol Prisma Finance Completed Financing, Curve Founder and Others Participated

LSD stable currency agreement Prisma Finance completed a round of financing, the specific amount was not disclosed, Curve Finance founder Michael Egorov, Convex Finance founder C2tP, FRAX Finance, Conic Finance, Tetranode, Llama Airforce, CoinGecko founder, OKX Ventures, DeFiDad, MrBlock , Impossible Finance, 0xMaki, GBV, Agnostic Fund, founder of Swell Network, Adam Cochran, research director of Eden of The Block, Ankr Founders, MCEG, Eric Chen, etc. participated in the investment. Prisma supports mortgages of various Ethereum liquid mortgage derivatives (Frax , Lido, Rocket Pool, Binance, and Coinbase) mint stablecoins. And Prisma's over-collateralization model supports automatic repayment, allowing the use of Ethereum pledge income to automatically repay debts.

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The DeFi protocol Albus Protocol has received funding from the Solana Foundation and is expected to launch Web3-related tools in August

The DeFi protocol Albus Protocol announced that it has received funding from the Solana Foundation, and the specific amount has not yet been disclosed. Albus Protocol aims to help DeFi protocols comply with KYC (Know Your Customer), AML (Anti-Money Laundering), GDPR (General Data Protection Regulation), and CBDC (Central Bank Digital Currency) regulations when running on a public blockchain. The new funds will Promote the agreement to accelerate the establishment of tools to build a compliant public blockchain DeFi framework based on zero-knowledge proofs. It is expected that Web3 tools with a complete user interface will be launched in August.

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asset management

LBank Labs has completed investment in fund management company Sparkle Ventures

LBank Labs has completed the investment in Sparkle Ventures, a fund management company. This is the sixth fund in LBank Labs FOF strategic investment. LBank Labs plans to continue to expand FOF investment in the next few months to strengthen the cooperation and network between investment portfolios effect. Sparkle Ventures' GP members include Sébastien Borget, co-founder and COO of The Sandbox, Yat Siu, founder and chairman of Animoca Brands, Julien Pageaud, former head of strategic investment and technology at Nomura Digital, and Thibaut Chessé, former technical lead of the Tezos blockchain protocol , investment projects include institutional pledge platform Kiln, data analysis software AbsoluteLabs.io and ZK infrastructure startup Polyhedra Network, etc.

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Tether invests in cryptocurrency payment app CityPay.io

Tether, the USDT issuer, announced its investment in the cryptocurrency payment application CityPay.io. This investment aims to expand the application of cryptocurrency payments in Georgia. CityPay.io supports cryptocurrency payments in stores, hotels, restaurants, and more.

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Transak Completes $20M Series A Funding Led by CE Innovation Capital

Web3 payments and fiat currency aggregator Transak completes $20 million Series A financing led by CE Innovation Capital, with participation from SBI Ven Capital, Sygnum, Azimut, Third Kind Venture Capital, UOB Venture Management, Signum Capital, Animoca Brands, Genting Ventures , Istari Ventures, No Limit Holdings, Woodstock Fund, IOSG Ventures, KX, Axelar, Tokentus and The Lao, as well as angel investors Jan Hammer (Index Ventures), Charles Delingpole (ComplyAdvantage) and Sandeep Nailwal (Polygon). Transak will expand its global reach and strengthen the development of its Onboarding solutions, with a particular focus on Web3 gaming and financial applications.

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NFT and chain games

Web3 game company Fusionist completes $6.6 million seed round investment, jointly led by Binance Labs and FunPlus

Binance Labs and Web2 game giant FunPlus jointly led the US$6.6 million seed round investment in Web3 game company Fusionist in May 2022. The financing funds will be used to continue to accelerate game development and establish the Endurance mainnet ecosystem launched in January 2023 system. In addition, Fusionist plans to strengthen user growth and recruit top gaming and Web3 professionals to further strengthen its team's capabilities.

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Chain game Illuvium completes USD 10 million in financing, Framework Ventures participates in the investment

RPG chain game Illuvium co-founder Kieran Warwick issued a statement in the Discord community that he has raised an additional $10 million in funding from Framework Ventures. Funds raised will accelerate Illuvium game development. This transaction is completed through tokens, which will be locked for two years and will not be included in the pledge, so it will not participate in the distribution of benefits. Illuvium is a fully decentralized RPG and collection game built on the Immutable X L2 network. Illuvium is about to launch its public beta with three interoperable AAA games: Zero (city-building game), Overworld (monster world), and Arena (arena).

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DeGame completed $6.5 million in financing and launched a Web3 contribution proof platform

DeGame, a blockchain game distribution platform, announced the completion of the second round of financing of US$6.5 million. This round of financing was led by Folius Ventures, Kenetic Capital, and A&T Capital. NGC Ventures, Hack VC, Hashkey Capital, Avalanche, Golden Bull, Y2Z Ventures, Collingstar Capital, Sfermion, Bixin Ventures, Assembly Partners, FBG Capital, Lucid Blue, Ranger Protocol and others participated in the investment. In addition, DeGame launched the Web3 Proof of Contribution (PoC) Platform, which will jointly launch the Genesis Airdrop with the chain game project parties. Individuals, KoL, guilds, developers, etc. who made key contributions to the Degame PoC community in the early days will all Obtain proof of contribution, and will receive corresponding NFT and Token airdrop incentives in the future. DeGame was established in June 2021 and completed its first round of financing in 2021, with a cumulative financing amount of US$10 million.

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Web3

The e-sports team M80 has completed a financing of 3 million US dollars and will explore new technologies such as Web3 and blockchain

E-sports team M80 completed $3 million in financing led by Expert Dojo, VT Technology Ventures and Practical Venture Capital. This round of financing will be used to launch M80 Labs, an innovation arm to develop and launch consumer products, create digital products with real-world utility, and explore innovations in Web3, blockchain, and other emerging technologies.

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Web3 distribution platform MetaZone completes $3 million financing led by Sfermion and CMT Digital

MetaZone, a Web3 digital content and application distribution platform, announced the completion of a US$3 million seed round of financing, co-led by Sfermion and CMT Digital, two institutions focused on investment in the Metaverse field, Tess Ventures, IOSG Ventures, IVC (Infinity Ventures Crypto), Polygon Studios , MHC Digital and LucidBlue Ventures participated. MetaZone allows creators and developers to cast NFT 3D digital content and distribute it in the Metaverse. Each creator's META is assigned an NFT representing its value, ownership and access rights. These NFTs can be purchased and used to install applications on digital land for use by owners and visitors of that land.

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Blockchain food matching app Nutrios completes $500,000 in financing, with Aptos Labs and others participating

Nutrios, a blockchain food matching app launched by celebrity chef James Briscione, announced the completion of $500,000 in financing, with participation from investors such as Aptos Labs and Monoceros. Dinder APP is developed by Nutrios. Users can swipe right or left on food photos. Dinder APP’s artificial intelligence algorithm will learn customer preferences over time and provide ordering services. Foods that are “liked/liked” will be Embedded in the blockchain social graph, the app is currently undergoing beta testing in the Miami market. In addition to building other apps on the Nutrios protocol, Nutrios hopes to launch in other cities within the next six months.

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Web3 artificial intelligence engine Orbofi AI completes $2.8 million in financing

Orbofi AI, the Web3 artificial intelligence engine, completed $2.8 million in financing through private placement and public token sale. This round of private placement was led by Cogitent Ventures, OIG Capital, CSP DAO, Zephyrus Capital, and Halvings Capital. The round of financing will use user development phase engineering, expand the team, and these funds are expected to accelerate the launch of its mobile application, which is planned for the third quarter of 2023.

Orbofi AI's AI engine enables users to generate a wide range of content, including visual content, 2D images and 3D assets, sounds, and a variety of other digital content, allowing anyone with a mobile phone to create and monetize AI models. Orbofi AI will also release an API designed to enable developers and Web2 and Web3 applications to seamlessly integrate the Orbofi AI engine into their platforms.

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Web3 loot blind box development company Loot Labs completed $1.5 million Pre-Seed round of financing

Web3 loot blind box development company Loot Labs completed a $1.5 million Pre-Seed round of financing led by BITKRAFT Ventures, Polygon Ventures, Mechanism Capital, Lofty Ventures Syndicate and video game anchor Hammoudi Yassuo Abdalrhman participated in the investment, the new funds will be used for Web3 loot blind Product development, marketing efforts, and partnerships for the box platform Boxed.gg to enhance community engagement with existing properties. Milan Harris, the founder and CEO of Loot Labs, once served as an executive of the NFT project Cool Cats. The loot blind box is similar to the virtual treasure box commonly seen in games. By publicly disclosing the probability of opening the box and obtaining real-time market data, the pricing can be dynamically adjusted to make NFT Buyers can obtain digital collections fairly and transparently.

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other

MAP Protocol and Waterdrip Capital established a USD 10 million ecological fund

At the site of the MAPO Seoul Hackathon, MAP Protocol, a full-chain interoperability infrastructure, announced the establishment of a US$10 million ecological fund with Waterdrip Capital. The fund will focus on the ecological construction of Omnichain full-chain interoperability, support and develop development teams or projects that have innovative value, can contribute to the future of blockchain interoperability, and meet the investment standards of the three. The fund will soon open applications for projects.

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CoinSwitch Ventures invests $25 million in 12 startups through its Web3 Discovery Fund

CoinSwitch Ventures, the venture capital arm of CoinSwitch, an Indian encryption trading platform, has invested $25 million in 12 start-ups through its Web3 Discovery Fund, including PYOR, Silence Labs, AirStack, Mohash, Shield, PolyTrade, BitsCrunch, and PlayZap, mainly covering blocks Foresight News previously reported in August 2022 that CoinSwitch announced the launch of the Web3 Discovery Fund, a Web3 investment fund with a scale of US$10 million, according to the Economic Times of India. Invested and incubated more than 100 early-stage startups in the Web3 field. Investor partners of the fund include Tiger Global, Sequoia Capital, Coinbase Ventures, Ribbit Capital, etc.

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