According to BlockBeats statistics, there were a total of 17 financing deals last week, an increase in quantity compared to previous weeks, with a total amount of approximately 134.61 million US dollars and an average financing amount of 7.9182 million US dollars. The digital asset management/payment sector accounted for the majority, followed by infrastructure. There was an increase in financing in the DeFi and social/creator economy sectors, while the metaverse/GameFi and other sectors had less financing. There were no financing deals in the NFT/digital fashion and Web3+AI sectors. The following chart shows the financing distribution of each sector last week:

Metaverse/GameFi

In the field of Metaverse/GameFi, there were a total of 3 financings with a total amount of 5 million US dollars (partially undisclosed), accounting for 3.71% of the total financing amount last week.

When Red Qitian

Beijing's popular Qitian International Culture and Technology Development Group Co., Ltd. (referred to as "Qitian") has completed a multi-million yuan Series C financing round, with investment from Huakong Fund, "China Vision Valley" Industrial Fund, NetEase, BOE Technology Group, CITIC Century Asset Management, Jiahe Sheng Capital, and Yecao Venture Capital. According to Qitian's official website, famous director Zhang Yimou serves as its co-founder and artistic director.

Tianyancha data shows that as of now, the popular Qitian has completed 8 rounds of financing. Among them, rounds B to B++ were concentrated between October 2021 and December 2022, which is the time when the investment and financing of the metaverse is booming. It is worth noting that in these three rounds of financing, well-known enterprises such as Xiaomi Group of Lei Jun, NetEase Capital of Ding Lei, CITIC Group, and BlueFocus participated in the private equity funds.

The positioning of Danghong Qitian is "XR content production + vehicle development + digital operation" overall solution and product landing, involving multiple fields such as "XR + amusement park", "XR + technology show", "XR + e-sports", and "XR + sports". As early as January of this year, Danghong Qitian, in which Zhang Yimou holds shares and serves as a co-founder, completed its B++ round of financing, with an unknown amount of financing. NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd.

Hadean

On October 9th, Hadean, a developer of metaverse infrastructure, completed a new round of financing with investment from Yuga Labs. The amount of financing has not been disclosed. As early as March of this year, Hadean announced a $5 million financing round with participation from Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital, and Tirta Ventures.

This investment will support Hadean in establishing a US team to assist Yuga in implementing its technology stack to support large-scale concurrency - one of the most challenging aspects of 3D experience development worldwide. This investment is a supplement to the latest technology collaboration and commercial agreement announced by Yuga Labs and Hadean in September, which provides a key technology for the Yuga platform optimized for high-fidelity virtual experiences, bringing creators and players together on a large scale. This announcement builds on a series of recent partnership agreements reached by Yuga Labs aimed at deepening collaboration within the web3 creator community to develop Otherside.

Yuga Labs CEO Daniel Alegre said, "As we double down on Otherside and aim to create unique live experiences in entertainment and gaming, we are excited to deepen our commitment through a long-term investment with Hadean. Their differentiated technology and expertise in building immersive experiences across industries is unparalleled. We share a common vision for prioritizing execution to realize the interactive potential of Otherside."

Other financing in the Metaverse/GameFi field includes:

On October 11th, NFT horse racing company Game of Silks completed a $5 million financing round, with undisclosed investors. Game of Silks supports users to purchase NFTs corresponding to real racing horses, and NFT holders can receive rewards based on the performance of the horses corresponding to their tokens in the real world.

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DeFi

In the DeFi field, a total of 2 financings were completed with a total amount of over 33.5 million US dollars, accounting for 24.89% of the total financing amount last week.

Membrane Labs

On October 11th, Membrane Labs, a cryptocurrency trading and lending platform, completed a $20 million Series A financing round. Participants in the round included Brevan Howard Digital, Point72 Ventures, Jane Street, Flow Traders, QCP Capital, Two Sigma Ventures, Electric Capital, Jump Crypto, GSR Markets, Belvedere Trading, and Framework Ventures.

Membrane Labs is a trading and lending platform focused on cryptocurrency. It raised $20 million in Series A funding, with notable figures such as Brevan Howard Digital and Point72 Ventures participating. The funds will be used to help establish mature trading infrastructure needed in the crypto space to avoid further disasters.

"Membrane starts with building a clearing, networking, and settlement engine," explained Carson Cook, the CEO of the company. This allows institutions to choose where and how they store their funds, whether it be with custodians or multi-party computation (MPC) wallets, and then let their front office decide where and how to execute trades.

DeFi Other financing includes:

On October 11th, the tokenized RWA platform Untangled Finance went live on the Celo network after receiving $13.5 million in venture capital. The main investor is asset management company Fasanara Capital, which has also opened two credit pools on the platform to handle off-chain business and loans. Untangled also announced plans to expand to the Ethereum and Polygon networks through Chainlink, making the platform a multi-chain and interoperable RWA credit protocol.

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Social/Creative Economy

There were a total of 2 financing rounds in the social/creator economy sector, with a total amount exceeding 8 million US dollars, accounting for 5.94% of the total financing amount last week.

RepubliK

On October 11th, according to official sources, Web3 content platform RepubliK completed a seed round of financing worth $6 million with a valuation of $75 million. The round was participated by OKX Ventures, HTX Ventures, 6MV, Arcane Group, Caroline Makes Statement, Comma3 Ventures, Enjin, FBG Capital, Mirana Ventures, OIG Capital, Signum Capital, and Sora Ventures.

RepubliK is a Web3 content platform aimed at reducing barriers for online creators to profit from their content and interactions. Through blockchain technology and decentralized finance, creators can hold platform shares while retaining a larger share of their income. Its features include an efficient token economy and borderless transactions supported by RPK (RepubliK token), gamified XP and airdrop systems that reward users at various levels within the platform, and a set of creator monetization tools. With these features, creators and their supporters have more power to collaborate and provide higher quality content, building sustainable careers.

The total supply of RPK is 3,000,000,000 tokens. PRK is required to generate creator tokens, and the first approximately 50,000 creators will receive this feature for free, with a certain percentage of creators always receiving it for free. The test version of the RepubliK platform is now live, serving a community of over 400,000 users. Airdrop rewards and monetization features will be deployed in Q4 2023.

KINO Studios

On October 11th, entertainment technology company KINO Studios completed a Pre-Seed round of funding exceeding $2 million, with investors including Sequoia Capital, Slow Ventures, Metaweb Ventures, Genius Ventures, Near Protocol, Blockchain Founders Fund, and others.

KINO is a pioneering entertainment technology company that has introduced a community-based economic model to the entertainment industry. KINO Studios is bringing the community-based economic model to the entertainment industry, providing film and television creators with technology tools to attract fans and interact through community building, royalty processing, and intellectual property discovery. KINO's current advisors, partners, and brand ambassadors come from the highest levels of the entertainment industry, including Netflix, Disney, Sony, Amazon, Columbia Broadcasting Company, NBC, ABC, Paramount, Lionsgate, HBO, and more.

In the production cycle, there is currently a lack of marketing or product market fit for movies and TV shows," said co-founder Daril Fannin. "This means the industry wastes billions of dollars each year, and our technology solves this inefficiency problem. KINO currently has over 1,000,000 movie fans per month, and the early version of the KINO application is now available for download on the App Store.

Infrastructure

There were a total of 6 financing deals in the infrastructure sector, with a total amount of over 33.95 million US dollars, accounting for 25.22% of the total financing amount last week.

Parsec

Alpaca

Account Labs

On May 20th, UniPass and hardware wallet Keystone announced their merger into Account Labs. Former Keystone CEO, Liu Lixin, will serve as the CEO of Account Labs, primarily responsible for external affairs such as business development, growth, and financing. Former UniPass CEO, Zhi Xian, will serve as the COO of Account Labs, primarily responsible for internal affairs such as product development and team building.

Original Link

On October 9th, OrdinalsBot, an infrastructure platform focused on Bitcoin Ordinals, completed a $1 million seed round of financing. The investors in this round include Lightning Ventures, Bitcoin Magazine Ecosystem Fund, Bitcoin Frontier Fund, and individual investors such as Sebastien Borget and Howard Morgan. According to reports, OrdinalsBot has launched an SDK aimed at helping developers integrate Ordinals functionality into their projects.

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On October 9th, according to official sources, Verisoul, a provider of false user identification, completed a $3.25 million financing round. The round was led by BITKRAFT Ventures, with participation from King River Capital, Third Prime, HashKey Capital, and individual investor Mike Monovoukas, CEO of AcuityMD. Verisoul integrates data collection, machine learning models, and workflow creation into one platform, allowing customers to prevent false and duplicate registrations, stop automated activities, and detect account sharing, thereby filtering out real users.

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Digital Asset Management/Payment

CrossFund

It is reported that CrossFund, an equity financing platform, has innovatively integrated AI and Web3 technologies in the review and fundraising process. It is reported that as of now, about 80 projects have successfully raised over $40 million on the platform, attracting 15,000 qualified investors to participate.

VirgoCX

Other Financing

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On October 9th, VitaDAO, a longevity research community, announced the establishment of a biotechnology company called Matrix Biosciences. The company has raised an initial funding of $300,000, with more funds expected to be available in early 2024. According to reports, the company will expand its research on the longevity and anti-cancer properties of naked mole rats, and investigate whether compounds discovered in naked mole rats can extend human lifespan.

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