Financing highlights of the 28th week of 2023, Blizzard participated in the investment of Web3 game studio Pixion Games
Anzu
On June 29th, Anzu, an in-game advertising company for the metaverse, announced the completion of a $48 million Series B funding round. The round was led by Emmis Corporation, with participation from PayPal Ventures, Evolution, Simon Equity Partners, and Bandai Namco Entertainment 021 Fund. The new funds will be used to expand partnerships with more AAA game and high-quality content providers.
As previously reported by BlockBeats, Anzu completed a $20 million funding round in March 2022, led by NBCUniversal and HTC. Anzu supports in-game advertising solutions for the metaverse, mobile devices, and gaming consoles, and its 3D ad tracking engine has already been patented.
Mythical Games
On June 27th, Mythical Games, a blockchain gaming studio, completed a $37 million Series C1 funding round led by Scytale Digital, with participation from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, and existing investors Andreessen Horowitz (a16z), WestCap, Gaingels, Signum Growth, and Struck Capital. Additionally, Mythical Games plans to raise an additional $20 million to $30 million later this year to conclude this funding round.
As previously reported by BlockBeats, Mythical Games completed a $150 million Series C funding round in November 2021 with a valuation of $1.25 billion, led by a16z with participation from Alameda Research, Michael Jordan, and others.
Pixion Games
On June 26th, AvatarLife, a metaverse gaming platform, completed a $1.5 million seed round of financing with Info Edge Ventures as the lead investor. The financing will be used for product development, community building, and expanding its global team. It is reported that this is Info Edge Ventures' third investment in the gaming industry, following their investments in the fantasy esports platform Fanclash and the VR-based toy manufacturer Mirana.
NFT/Digital Fashion
There were a total of 2 financing deals in the NFT/digital fashion industry, with a total amount exceeding 3 million US dollars, accounting for 0.77% of the total financing amount last week.
Tegro
On June 27th, NFT trading platform Tegro completed its seed round financing with a valuation of $100 million. The specific amount of financing has not been disclosed. Polygon Ventures and a group of private investment institutions participated in the investment.
Tegro was co-founded by Siddharth Menon, former co-founder of cryptocurrency trading platform WazirX, and Ashish Rawat, founder of fitness startup OGA Fit. Tegro supports the NFT-20 protocol, which allows users to establish and manage decentralized NFT markets. These markets provide liquidity services, pricing, and order matching, allowing users to track their investment portfolios and monitor the value of their NFTs.
Hook Protocol
On June 29th, NFT native bullish option protocol Hook Protocol announced the completion of a $3 million financing round, led by Collab+Currency and Lattice, with participation from Slow, Sfermion, Maven11, Contrary, gmoney, jdh, Salvino D'Armati, Flamingo DAO, Neon DAO, and The LAO. The funds from this round will be used to build the protocol. In addition, the new incentive program Hook Treasure Hunt was also launched today to reward early adopters who create liquidity option markets on Hook.
DeFi
Superstate
On June 29th, Compound founder Robert Leshner announced the establishment of a new company called Superstate. The company aims to create regulated financial products that connect traditional markets with the blockchain ecosystem. They will use the Ethereum blockchain as a tool for recording and storing short-term government bond funds. The team has submitted a preliminary prospectus for the Superstate short-term government bond fund to the US Securities and Exchange Commission on Monday.
Superstate has completed its seed round of financing, and the specific amount of financing has not been disclosed. ParaFi Capital, 1kx, Cumberland, CoinFund, and Distributed Global participated in this round of financing.
AlloyX
Infrastructure
There were a total of 7 financing deals in the infrastructure sector, with a total amount of over 224.565 million US dollars, accounting for 57.42% of the total financing amount last week.
Velo Labs
Outdid
Mind Network
On June 29th, Web3 data security and privacy platform Mind Network announced the completion of a $2.5 million seed round of financing, with participation from Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and others. Prior to this, Mind Network was selected for Binance Labs' fifth season incubation program and Chainlink BUILD program. Mind Network uses cutting-edge encryption technology to protect sensitive information by combining zero-knowledge proof (ZKP) and internally developed adaptive homomorphic encryption (AFHE) technology, allowing individuals to fully own and control their data. Mind Network addresses critical Web3 security challenges by providing data protection, smart contract, and AI solutions for Web3 users. It also offers integrated SDKs, IDEs, and pre-built development kits to lower the barrier to cryptography, enabling everyone to create and utilize their own private data lake.
On June 30th, Web3 telecommunications service company Readiitel announced the completion of a $2 million financing round, led by 1 in 100 Ventures. The injection of new funds will help the company accelerate the launch of its Web3 internet service "Readii", which allows users to earn cryptocurrency rewards. It is reported that "Readii" uses Web3-driven routers, which not only provide internet services, but also support the storage of encrypted private keys for seamless cryptocurrency transactions. Additionally, the service utilizes secure features such as multi-party computation (MPC) to ensure that keys are not stolen or lost.
Digital Asset Management/Payment
Bitpanda
On June 29th, OneDegree, a Hong Kong-based insurtech startup that was the first to obtain a virtual insurance license, completed a $27 million financing round with participation from Gobi Partners, New World Development, and Bitrock. It is reported that OneDegree's total financing has exceeded $97 million and it launched cryptocurrency insurance for the first time in November 2021. The new funds will be used to further expand its business in Asia and expand its portfolio of digital asset insurance.
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