According to BlockBeats statistics, there were a total of 14 financing deals last week, an increase in quantity compared to previous weeks. The total amount raised was approximately 285.57 million US dollars, with an average financing amount of 20.3979 million US dollars. The infrastructure sector accounted for the majority of the deals, while the social/creator economy sector had relatively more deals. The DeFi sector saw an increase, while the digital asset management/payment sector had fewer deals. There were no financing deals in the metaverse/GameFi sector, NFT/digital fashion sector, Web3.0+AI sector, and other sectors. The following chart shows the financing distribution across different sectors last week:

DeFi

In the DeFi field, a total of 2 financings were completed with a total amount of over 14.25 million US dollars, accounting for 4.99% of the total financing amount last week.

Coinchange

On November 29th, according to The Block, DeFi yield platform Coinchange completed a $10 million financing round. The round was led by G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, and Atoia Ventures, with participation from Mintfox.

Coinchange has an intuitive dashboard that allows managing all customer accounts and activities in one place by accessing detailed reports, analysis, and insights. Additionally, Coinchange enables its business users to trade and earn digital asset returns as a service through its Earn API, eliminating the complexity of interoperability, risk underwriting, and return optimization. API (Application Programming Interface) allows one computer to query and retrieve information from another computer. Earn API is a risk management platform that supports Bitcoin, Ethereum, and all major stablecoins, and can quickly integrate YaaS into existing platforms, providing stable returns.

Aside from DeFi yield services, Coinchange also manages compliant brokerage services in the US and Europe. The company states that Coinchange assets are managed on-chain, meaning there is no need for centralized counterparties for custody or lending, thereby reducing customer counterparty risk. In a statement, the company said it will use the funds to develop its business and services, and attract new clients.

Term Structure

On November 30th, according to PR Newswire, non-custodial fixed income protocol Term Structure announced the completion of a $4.25 million seed round of financing, led by Cumberland DRW, with participation from Decima Fund, HashKey Capital, Longling Capital, and MZ Web3 Fund. Its total financing amount has exceeded $8 million as of now.

Fixed income products are a fundamental element of traditional financial market structures, and the demand for these products in the DeFi market is an important signal of the maturity of this market. To protect user assets, Term Structure has launched the zkTrue-up scaling solution, a customized ZK Rollup, to achieve data availability and enable users to place and cancel orders without paying gas fees. Users can also initiate forced withdrawals on the zkTrue-up contract to directly withdraw funds in case of audits or any issues. If withdrawal requests are not met, users can activate the exit mode to withdraw from the L1 contract and protect their assets.

It is reported that Term Structure has been launched on the Ethereum Goerli testnet, and the protocol currently has two core markets on its platform. In the primary market, users can post orders to borrow or lend tokens, including fixed interest rates and fixed maturity dates. In the secondary market, users can buy and sell fixed income tokens through the order book trading system.

Social/Creative Economy

There were a total of 4 financing deals in the social/creator economy sector, with a total amount of over 16.2 million US dollars, accounting for 5.67% of the total financing amount last week.

MITH

On November 30th, according to Axios, MITH, a fan engagement platform based on the Polygon blockchain, announced the completion of a $3.5 million seed round of financing. Point72 Ventures and A+E Networks led the investment, with Warner Music Group, CMT Digital, Winklevoss Capital, Synergis Capital, Near Foundation, 4RC, and Alpha Praetorian Capital also participating.

MITH is a new community stack incubated by Range Media Partners, which helps creators and brand merchants interact with fan communities and profit. Based on cutting-edge technology, MITH provides cultural drivers with a unified platform that allows them to freely control their creative methods, contact methods, and ways of spreading to fans. Currently, MITH is in the testing phase and is only available to invited creators.

Currently, the company has launched its first product, Private Garden, on the Polygon blockchain, exclusively for ticket holders of the No Place Like Home tour, taking place from November 24th to December 3rd, 2023 in Kentucky. In Private Garden, creators and brands can offer fans community forums, photos, videos, text, and live content, as well as digital business services. The team will also collaborate with other blockchains.

AnotherBall

On November 28th, Web3 entertainment company AnotherBall announced the completion of a $12.7 million seed round of financing, led by ANRI and Hashed. Other investors include Global Brain, Globis Capital Partners, Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote, and Crunchyroll founder Kun Gao.

AnotherBall is a venture capital firm founded in May 2022 and led by Shunsuke Oyu. The management team consists of serial entrepreneurs who launched the family information center website "mamari" and the multinational VTuber organization known as the "PRISM Project". AnotherBall is currently developing a platform that allows creators from around the world to connect with fans and earn money through their content. The beta version of the platform is scheduled to be released in the first quarter of 2024 (January to March), with a full public release expected later this year.

It is reported that AnotherBall has been actively involved in technology projects such as "Ailis" and "SAI by IZUMO". The company's main focus is on the Web3 virtual UP main project IZUMO, which aims to create a place for anchors, illustrators, music and video producers who love anime, comics and game culture to continue creating income based on their hobbies. IZUMO is a VTuber virtual anchor project in the AI and Web3 era, and its mission is to use VTubing technology to build a sustainable platform that allows everyone to live freely in the Web3 space.

Other financing for social/creator economy includes:

On November 29th, Web3 social data protocol Inspect announced the completion of a new round of financing. The specific amount has not been disclosed. This round of financing was participated by Dewhales, BasementDAO, Morningstar Ventures, Kairon Labs, Optic Capital, Rarestone Ventures, Maven Capital, and others.

Inspect represents a platform that is transforming the dynamic market into a user-friendly platform, equipped with real-time analysis and insights that are accessible to everyone. Inspect's ecosystem partners include Mocaverse, MoonPay, MultiversX, Avalanche, Ronin, Axie Infinity, Polygon Ventures, Algorand Technologies, Floor Protocol, Cardano Community, and OKX Web3 Wallet.

Original Link

On November 28th, Web3 video streaming platform Rad completed a new round of financing, led by Ayre Ventures. The specific amount of financing has not been disclosed. Rad also announced that it has incorporated the use of BSV blockchain into its transactional video on demand (TVOD) and open or limited edition NFT video publishing and purchasing processes.

In addition, Rad has integrated with mobile and online wallet HandCash, allowing users to connect to applications, games, and websites to directly stream funds and facilitate payments. Users can create and purchase content on Rad without the need for a browser plugin, and the company is able to expand to other payment forms. Currently, Rad supports multiple devices such as PlayStation 5, PSVR, Oculus Quest, iOS, and Google TV.

Original article link

Infrastructure

There were a total of 5 financing deals in the infrastructure sector, with a total amount of over 243.16 million US dollars, accounting for 85.15% of the total financing amount last week.

Wormhole

On November 29th, according to Fortune, Wormhole completed a $225 million financing round with a valuation of $2.5 billion. There was no lead investor in this round, and it was participated by Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dilectic, Borderless Capital, Arrington Capital, and Jump Trading. This round of financing is also the largest cryptocurrency project financing round in 2023.

Wormhole Foundation's Chief Operating Officer, Dan Reecer, stated that investors' shares will be entirely composed of token subscription warrants, rather than company equity. However, he declined to comment on the name of the Wormhole token (which has not been previously reported) or when it will go live. Additionally, the team behind Wormhole announced the establishment of a new company, Wormhole Labs, which will assist in developing the protocol. The unveiling of Wormhole Labs ultimately confirmed the split between Wormhole and Jump Crypto. Dan Reecer also declined to disclose how much of the $225 million will be allocated to Wormhole Labs and the Wormhole Foundation.

Since its establishment in 2021, Wormhole has become a core infrastructure for many major blockchains and projects, processing over $35 billion in cross-chain fund transfers and over 750 million cross-chain messages. Dan Reecer stated that the company will continue to drive Web3 infrastructure construction and launch more innovative products next year to continue supporting the development of the Wormhole developer ecosystem.

Setter

On November 28th, according to CoinDesk, Web3 consumer application Setter completed a $5 million seed round of financing. The round was led by a16z, with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures, and retired tennis star Serena Williams.

According to the official introduction, Setter is not just a wallet or sneaker application, but also a tool for consumers to control their digital economy. Setter aims to solve the "complexity and unfriendliness of current wallet technology" and provide a more seamless Web3 experience for more users. At present, Setter mainly targets Sneakerheads. Setter not only provides Sneakerheads with sales guides for various popular brands, but also enables one-click "chopping", and can also like, comment and share products of interest within the app. In order to improve the user experience of the Drop function, Setter also introduces RSVP, which is defined by the official as a social token for each Drop product. Users can use this function to create different collections for products with different release times and show their participation in the sale to other users. Brands can also use RSVP as a standard for purchasing exclusive limited edition products, and even as a platform lottery voucher.

Grove

OCEAN

Wind

On November 27th, Waltio, a digital asset management and tax compliance innovation company, announced the successful completion of a €1.8 million financing round. Participants included Clément Coeurdeuil, co-founder of Budget Insight, Joan Burkovic, co-founder of Bankin', renowned cryptocurrency expert Owen Simonin, Julien Bouteloup, founder of Stake Capital, and the French Agricultural Credit Bank Capital Development Company.

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