This week, there has been a significant influx of funding in the blockchain and crypto space, with various startups raising over $100 million in venture capital. The range of funding activities showcases the growing interest in blockchain applications across different sectors such as gaming, social networks, and advanced cryptographic security.
One standout in the funding activities is PQShield, a security startup that raised $37 million in a Series B round. The funding will be used to enhance its post-quantum cryptography solutions, aimed at protecting cryptographic systems against quantum computer-based hacks. With clients like Nvidia and AMD, PQShield is at the forefront of developing secure solutions for the future.
Renzo, an Ethereum restaking protocol, secured $17 million in a Series A round. The platform enables users to restake various Ethereum assets and provides them with ezETH, a liquid restaking token usable across decentralized finance platforms. Renzo’s market capitalization and total value locked indicate its growing presence in the defi space.
Particle Network, a modular blockchain developer, raised $15 million in a Series A round to support its work on chain abstraction technology. The funding will also help expand its operations as it continues to innovate in the blockchain space. The company’s founder, Pengyu Wang, is focused on driving technological advancements in the industry.
Sonic, a Solana layer-2 network focused on gaming, closed a $12 million Series A round led by Bitkraft Ventures. With a mission to simplify Web3 gaming complexities, Sonic aims to integrate with various gaming genres and create sovereign game economies on Solana. The project’s fully diluted valuation of $100 million reflects the confidence investors have in its vision.
ZKX, a social perpetual trading decentralized exchange, secured $7.6 million in funding to enhance perpetual swaps through social trading features and cross-chain interoperability. The platform’s introduction of new features and its native token listing on major exchanges signal its commitment to growth and innovation in the decentralized exchange space.
Gudchain, an OP-stack-based layer-2 blockchain focused on gaming, raised $5 million in funding to simplify Web3 access for gamers. The platform’s partnerships with flagship games and plans to launch them on-chain within six months highlight its potential to transform the gaming industry.
In addition to these major funding rounds, several other startups in the blockchain and crypto space secured significant investments, indicating a bullish outlook for the industry. From decentralized social collaboration networks to meme coins and automated market makers, the funding activities this week reflect a diverse range of projects driving innovation in the blockchain and crypto space.