Crypto VC funding: Ithaca leads week with $20m, Delta bags $11m

This week has seen a significant uptick in crypto venture capital (VC) funding, with notable increases in both the number and volume of funds raised compared to the previous week. Here’s a summary of the top firms leading the fundraising efforts:

Top Crypto VC Fundraising for the Week

1. Ithaca: Raised $20 million
   • Focus: Expanding decentralized technology through the creation of an open-source developer tool stack.
   • Notable Investor: Paradigm.
2. Delta: Raised $11 million
   • • Focus: A permissionless network for efficient interoperability between member domains.
     • Notable Investors: Variant, DBA, Figment Capital.

1. Humanode: Raised $10 million
   • Focus: A crypto-biometric network with Sybil resistance and governance models.
   • Total Raised: Over $22.76 million.
   • Notable Investors: Republic Crypto, Big Brain Holdings.

1. The Open Network (TON): Raised $10 million
   • Focus: A layer 1 blockchain created by Telegram.
   • Total Raised: $58 million since inception.
   • Notable Investor: Gate Venture.

1. PiP World: Raised $10 million
   • Focus: A gamified platform promoting financial trading and learning.
   • Recent Investment: Led by Exinity.

Other Notable Fundraising Rounds (< $10 Million)

• Bitlayer: $9 million in Series A led by Polychain Capital, Franklin Templeton, SCB Limited, etc.
• Dragonz Land: $9 million raised from Syndicate Capital for a play-to-earn game.
• OpenGradient: $8.5 million in a seed round for a decentralized platform for AI models.
• Yala: $8 million in a seed round led by Polychain Capital, Ethereal Ventures.
• Kiva Ai: $7 million in a pre-seed round led by CoinFund.
• Apex Fusion: $6 million raised in a seed round from TRGC.
• Semantic Layer: $3 million in a seed round led by Figment Capital.
• APRO: $3 million in a seed round led by Polychain Capital, Abcde Capital, Franklin Templeton.
• Trendies: $1.75 million in a pre-seed round led by Archetype.
• Fission Labs: $1.6 million in a pre-seed round led by Salt Find, Kraynos Capital, Anthony Scaramucci.
• ZAP: $150.01k in a public sale led by individual investors.

Additionally, firms like TSFC and Bison Swap have also reported raising undisclosed amounts in the past week.

This surge in fundraising aligns with the overall trend observed in early 2024, indicating a robust interest in crypto VC funding as the market continues to develop.