Last week, there were 30 public financing events in the crypto market, with a total financing of approximately US$412 million | Investment and Financing Weekly
Reprinted from chaincatcher
03/03/2025·2MCompiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from February 24 to March 2, 2025, there were 30 public investment and financing events in the blockchain and crypto industries, with a total financing of approximately US$412 million.
From the perspective of track distribution, the projects that have received financing are mainly distributed in infrastructure and AI tracks. Popular projects include the decentralized AI protocol Prime Intellect , Bitcoin ecological stablecoin project Aegis , AI Agent service company MelodAI , and Solana ecological DePIN project Shaga.
In addition, blockchain asset risk management platform Lockchain.ai announced that it had completed a US$5 million Series A financing, led by White Star Capital, and participated by Lerer Hippeau, Arrington Capital and Sonic Boom Ventures.
(The list of projects that raised more than $5 million last week, data source: Rootdata )
1. Infrastructure
Decentralized AI protocol Prime Intellect completed a $15 million financing, led by Founders Fund
Prime Intellect issued a statement announcing that it has completed a US$15 million financing, led by Founders Fund, and the investors include Menlo Ventures, Andrej Karpathy (EurekaAI, Tesla, OpenAI), Clem Delangue (Hugging Face), Dylan Patel (SemiAnalysis), Tri Dao (Together.AI), Balaji Srinivasan (Network School) and Emad Mostaque (Stability AI), Jake Medwell (8VC co-founder), Brendan McCord (Cosmos Institute), and Sandeep Nailwal (Polygon) and others, after the completion of this round of financing, it raised a total of more than US$20 million. Prime Intellect is building a peer-to-peer protocol for computing and intelligence, committed to achieving collective co-creation, co-construction and sharing of sovereign open source AI.
Optimum announced the completion of an angel round of financing, with investors including Polychain CTO, founder of DeFiance Capital, CEO of Bitget, Wormhole Lianchuang, Polygon Lianchuang, Jump Crypto managing partner and other well-known Web3 people.
Optimum was co-founded by Professor Muriel Médard, NEC Dean of the MIT Department of Computer Science, Dr. Kishori Konwar, and Kent Lin, President of the Harvard Blockchain Association. Based on the research results of MIT Random Linear Network Coding (RLNC), Optimum has created the world's first full-chain expansion solution - high-performance memory of world computers.
Optimum provides high-performance memory infrastructure for L1/L2 blockchain and node operators, including P2P data communication layer and decentralized memory layer (deRAM), breaking through the blockchain scalability bottleneck and achieving fast data transmission, efficient storage and real-time access. Financing will be used to accelerate product development and bring infrastructure upgrades to the Web3 ecosystem.
The decentralized computing power market Spheron announced that it has completed a strategic round of financing, attracting institutions such as Tykhe Block Ventures, HASH CIB, and Arcanum Ventures to participate in the investment. The financing aims to support Spheron to expand GPU deployment, improve decentralized computing capabilities, and promote the development of AI-driven applications.
It is reported that Spheron Network aims to integrate global computing resources to build a GPU trading market, provide highly customized and low-cost computing power services to computing power demanders including AI, DeFi, gaming and other applications, and empower the development of the decentralized economy. Currently, Spheron Network has 766,000 CPUs, 10,300 GPUs, 35,000 Mac chips, more than US$24 million in computing contributions, and more than 30,000 Providers nodes.
According to Cointelegraph, crypto-tech startup Orochi Network has completed a $12 million financing, with investments from Presto Labs, Smape Capital, Anti Capital, Maxx Capital, Bolts Capital, AZA Ventures and Connectico, and has also been funded by the Ethereum Foundation, Mina Protocol, Web3 Foundation and BNB Chain.
According to Web3 asset data platform RootData, [Orochi Network](https://www.rootdata.com/zh/Projects/detail/Orochi%20Network?k=ODk4OA== "Zero-knowledge proof operating system") is a cutting-edge ZKO (operating system that applies zero-knowledge proofs) designed to address the challenges of computing limitations, data correctness and data availability in the Web3 industry. Orochi Network uses MPC and ECVRF to build a distributed source of trustless randomness for all types of Web3 applications, providing verifiable randomness for smart contracts on EVM and FVM.
Crypto Wallet Phantom Announces Acquisition of Token Data Platform SimpleHash
Crypto wallet Phantom announced the acquisition of token data platform SimpleHash. The specific acquisition amount has not been disclosed yet. This is Phantom's third acquisition transaction in recent months after Blowfish and Bitski.
"By introducing SimpleHash, we ensure that Phantom users have the most accurate and comprehensive token data," said Brandon Millman, CEO of Phantom.
ZKP technology startup Ligero completes $4 million financing, led by Galaxy Ventures and 1kx
According to The Block, ZKP technology startup Ligero completed a $4 million seed round, led by Galaxy Ventures and 1kx, with Franklin Templeton, Nascent, Anagram, Robot Ventures, Digital Currency Group and ZKV participating.
The company began this round of financing in March 2024 and ended in July 2024. The seed round of financing is structured as a Simple Future Equity Agreement (SAFE), accompanied by token warrants, with a valuation cap of $20 million, and there are currently no plans to launch a token.
According to Web3 asset data platform RootData, [Ligero](https://www.rootdata.com/zh/Projects/detail/Ligero?k=NTU0Ng== "Lightweight, scalable protocols for MPC and ZKP") is a lightweight, scalable protocol for secure multi-party computing (MPC) and zero-knowledge proof (ZKP).
Self Labs acquires OpenPassport digital identity protocol and launches self Protocol
The Self Labs team announced the launch of the zero-knowledge proof protocol Self Protocol, which has previously acquired the digital identity protocol OpenPassport.
“Every on-chain project today faces the same challenge: how to ensure that its applications cover unique users without compromising privacy. Our protocol provides projects with the infrastructure they need to ensure verifiable identity credentials while protecting user data without the need to leak any underlying information or conducting intrusive procedures – the foundation that the on-chain economy and the entire internet have been missing.”
"It's great to join Self Labs to expand Self Protocol to on-chain and beyond, combining our expertise in ZK technology and identity solutions," said Florent Tavernier, co-founder of OpenPassport and now co-founder of Self Labs.
Shared Security Network IMUA announced the completion of a $5 million seed round of financing, led by Draper Dragon, No Limit Holdings, Paramita Capital, and participated by Reforge Capital, Caladan Capital, Tané Labs, Syntax Capital, MH Ventures, 57 Blocks, Lecca Ventures, etc. The new funds will be used to develop new technologies to bundle the decentralized security and trust of blockchains such as Bitcoin, Ethereum, XRP and Solana and expand it into a service to protect the secure transactions of off-chain networks such as AI agents. Currently, the IMUA public test network is online.
2. Defi
Bitcoin ecological stablecoin project Aegis announced the completion of a $2 million Pre-Seed round of financing led by Dewhales Capital, with Profluent Ventures and a group of angel investors participating. The new funds will be used to support its development of the Bitcoin-backed stablecoin YUSD, which remains stable by establishing a neutral Delta position and selling a BTC margin perpetual contract equal to its Bitcoin exposure.
According to CoinDesk, RWA blockchain development company Mavryk Dynamics announced a $5.2 million financing round, led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures and Atlas Fund.
Mavryk Dynamics aims to simplify RWA tokenization and DeFi integration, making ownership of digital assets easier to obtain.
Replenishment Agreement Byzantine Finance completed a $3 million Pre-Seed round led by Node Capital and Blockwall Ventures, with Lightshift, Masterkey and Kiln Ventures, as well as angel investors from EigenLayer, LayerZero and Ledger. The funding will be used to develop its Byzantine license-free “aggregation layer”, a protocol designed to enable multiple blockchains to share liquidity, state and users without sacrificing sovereignty.
MEXC Ventures makes $16 million strategic investment in Ethena
According to official news, MEXC Ventures made a strategic investment of $16 million in Ethena.
In addition, MEXC invested $20 million to promote the development of USDe stablecoins, and launched a $1 million reward campaign.
III. AI
AI Agent service company MelodAI completed a new round of financing, led by LF Labs
AI Agent service company MelodAI announced the completion of a new round of financing. This round of financing was led by LF Labs in the United States, with Becker Ventures and Web3Link (Hong Kong) participating, and the specific amount of financing has not been disclosed. The financing will be mainly used to promote MelodAI's product development and market expansion in the fields of Web3 and AI entertainment, and to enhance its industry competitiveness in the fields of AIGC and AI Agent services.
"We are very honored to be supported by LF Labs, Becker Ventures and Web3Link. We believe that the combination of Web3 and AI technology will revolutionize the entertainment industry, and MelodAI will continue to innovate in this area."
According to Web3 asset data platform RootData, [MelodAI](https://www.rootdata.com/zh/Projects/detail/MelodAI?k=MTYzNDU= "AIGC and multi-mode AI proxy platforms") is an AIGC and multimodal AI proxy platform. It uses artificial intelligence to analyze text or audio input and produce original music tracks tailored to the content, thereby enhancing users’ creativity in music creation.
Decentralized AI protocol Prime Intellect completed a $15 million financing, led by Founders Fund
Prime Intellect issued a statement announcing that it has completed a US$15 million financing, led by Founders Fund, and the investors include Menlo Ventures, Andrej Karpathy (EurekaAI, Tesla, OpenAI), Clem Delangue (Hugging Face), Dylan Patel (SemiAnalysis), Tri Dao (Together.AI), Balaji Srinivasan (Network School) and Emad Mostaque (Stability AI), Jake Medwell (8VC co-founder), Brendan McCord (Cosmos Institute), and Sandeep Nailwal (Polygon) and others, after the completion of this round of financing, it raised a total of more than US$20 million. Prime Intellect is building a peer-to-peer protocol for computing and intelligence, committed to achieving collective co-creation, co-construction and sharing of sovereign open source AI.
According to The Block, Sui Eco-AI Agent content platform FanTV completed a $3 million financing, with Mysten Labs, Cypher Capital, CoinSwitch Ventures and Illuminati capita participating in the investment.
The project has previously completed a $5.5 million financing, with Multicoin Capital, Woodstock Fund, Krafton, IOSG Ventures, Pravega Ventures and Tykhe Block Ventures participating.
According to Web3 asset data platform RootData, [FanTV](https://www.rootdata.com/zh/Projects/detail/FanTV?k=MTEyNDY= "Web3 video + live broadcast social platform") is a Web3-based video + live social platform with the goal of empowering creators and promoting the transformation of the on-chain creator economy by providing streaming media, community and monetization services.
4. Game
Shaga completes $4 million in financing, led by IOSG Ventures
Solana Eco-DePIN project Shaga announced the completion of a US$4 million financing, led by IOSG Ventures, and investors include Everyrealm, Amber Group, MH Ventures and other institutions, as well as several angel investors.
Shaga is committed to reshaping the gaming experience, breaking through hardware bottlenecks, and providing ultra-low latency and high-performance gaming, aiming to allow billions of players around the world to enjoy the ultimate gaming fun. By adopting edge computing technology, Shaga brings users a cloud gaming experience, where anyone can set up nodes and share games. Players can participate in the DePIN network at lower cost and lower latency without purchasing specialized hardware, significantly lowering the barriers to entry of the ecosystem.
Previously, Shaga just completed a $1 million angel round in June 2024.
V. Others
Sixth Street invests $200 million in blockchain lending company Figure
Global investment firm Sixth Street invested $200 million in Figure Technology Solutions, a U.S.-based lending company that uses blockchain technology to improve the efficiency of the lending market and reduce costs. The investment will enable Figure to issue up to $2 billion in new loans and help the company expand into other lending markets.
Figure Technology mainly provides home improvement loans, but also provides commercial loans and debt integration services. It also operates a personal loan business, allowing cryptocurrency investors to borrow in the form of mortgages. The Figure website claims that it has provided services to more than 100,000 households from 47 states in the United States.
Bluefin has acquired InsideX to accelerate Sui's on-chain trading layout
According to Bluefin’s announcement, it has acquired a majority stake in Sui’s on-chain trading terminal InsideX. InsideX is an integrated trading terminal on Sui Network, providing multi-functional trading tools.
Gift card encryption platform Raise completed a $63 million financing, led by Haun Ventures
According to Fortune, gift card encryption platform Raise announced a $63 million financing, led by Haun Ventures, and Paper Ventures, Selini Capital, GSR and Solana co-founder Raj Gokal, the company declined to disclose the valuation of the financing.
According to official news, blockchain asset risk management platform Lockchain.ai announced that it had completed a US$5 million Series A financing, led by White Star Capital, and participated by Lerer Hippeau, Arrington Capital and Sonic Boom Ventures. Lockchain.ai plans to use new funds to enhance critical incident detection capabilities for more acute market intelligence, accelerate data discovery and simplify due diligence, build an automated compliance framework that meets regulatory requirements, and launch regulatory compliance automation for MiCA and others.
According to reports, Lockchain.ai is a blockchain asset risk management platform that uses generative AI to conduct real-time portfolio risk analysis and monitoring.
According to official news, crypto asset management company Bitwise completed a US$70 million financing, with Electric Capital, MassMutual, MIT Investment Management Company, Highland Capital, Haun Ventures, ParaFi Capital and others participating in the investment, continuing to promote it to become a leading crypto asset management company.
Currently, Bitwise manages $12 billion in customer assets, has over 100 employees and offers over 30 investment solutions. The company plans to continue to expand its team and launch new products.
According to a statement issued by 1conformation on the X platform, MeebCo, the company behind the NFT project Meebits, has completed a new round of financing of US$3 million. 1confirmation participated in the investment, and the specific valuation information has not been disclosed yet.
According to the information disclosed in the relevant announcement, Meebits has not issued tokens at this stage, but there will be potential coin issuance plans in the future. 1confirmation added that although the project does not have a clear product direction, it will support NFT's return and build a long-term community.
Memes Lab completes $2.3 million seed round, led by Lemniscap
Memes Lab completed a $2.3 million seed round of financing, led by Lemniscap, and participated by TVM Ventures, Animoca Brands, OKX Ventures, Mirana Ventures, Kucoin Ventures, GSR, Amber Group and other institutions.
According to the Web3 asset data platform RootData, Memes Lab is a multi-level meme infrastructure on TON, integrated with Telegram Stars, which allows users to purchase meme coins without a wallet. Memes Lab also automatically creates Telegram groups for each new meme coin, which facilitates instant community engagement.
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