Ten startups have raised more than $111 Million, and three of them secured cash infusions that are eight figures.
Story Protocol earned nearly half of the total, $54 Million.
The Open Intellectual Property Infrastructure provider’s series A round, led by the a16z Crypto company, included dozens of individual investors, Venture Capital companies, and even 11:11Media, owned by Paris Hilton.
Samsung Next and dao5 are also notable supporters, as is former Coinbase CTO Balaji Srinivasan.
Story Protocol’s goal is to offer creatives — writers, artists, game developers, musicians, etc. — a platform that allows them to track the provenance of their work.
“Our current [intellectual property] infrastructure is too unwieldy to support remixing, community lore, and co-creation as foundational pillars of creativity,” Story Protocol announced its first blog in its initial post. “Instead of leaning into the fundamental force of the internet — openness — most [intellectual property] models emphasize a defensive stance, adding friction to the creative process.”
Brine Fi and GenTwo top the fundraising charts
Brine Fi, a decentralized crypto-exchange that raised $16.5M in Series A funding this past week, has been valued at $100M.
Pantera Capital, the lead investor in this round of funding, provided it. Brine Fi was also supported by Elevation Capital and StarkWare.
StarkWare’s technology of zero-knowledge proof is used to power this relatively new DEX. Brine Fi was launched in May and serves just under 400 traders with a total trading volume of $505 million.
As of Friday the total locked value was $592.640. This is a slight plateau compared to what it was at the start of August.
Earlier this week, Steve Cohen’s Point72 Ventures raised $15 million for GenTwo via its Series A round, according to an official statement.
Pete Casella will be joining GenTwo’s Board of Directors as a result of Point72’s investments. He is also the company’s co-head and head of fintech.
GenTwo allows customers to turn real estate, art, and crypto assets into investment opportunities.
GenTwo currently serves over 250 clients, and it has launched more than 1,200 products.
Some notable fundraising efforts
- Trident Digital Group, a cryptocurrency lending company founded by former Coinbase executives. White Star Capital, New Form raised $8 Million for this startup.
- TRLab, an organization that creates digital art experiences with the help of Hivemind Capital Partners (HCP) and OKX Ventures, has received $5 million more from these two investors.
- D3 Global secured $5 Million to launch a marketplace on the blockchain for legacy domains. Shima Capital was the lead investor, with around 10 others.
- Coinbase Ventures & Framework Ventures invested $5 Million in Layer-2 Interoperability Protocol Socket.
- Kotani has closed a pre-seed funding round of $2 million to develop a stablecoin solution for sending money.
- Nestcoin has raised $1.9 Million from Hashed Emergent for the development of Onboard Wallet. This wallet is self-custodial.
- Gleen is a company that provides customer service using AI. It has raised $4.9 Million from Coinshares, 6th Man Ventures, and other notable cryptocurrency backers.
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