Last week, there was a decrease in crypto funding activities due to the Fourth of July holiday in the United States. However, there were still some significant funding rounds that demonstrated the growing interest in web3 innovations.
Sentient, an AI research organization, managed to secure an impressive $85 million in seed funding. The funding was led by Founders Fund, Pantera Capital, and Framework Ventures, with support from various investors like Ethereal Ventures, Robot Ventures, and Delphi Ventures. Sentient’s goal is to create an open AGI economy for AI developers by developing platforms and protocols that facilitate open-source AI innovation. This funding round highlights the rising demand for decentralized AI solutions that encourage collaboration and monetization for developers.
Another notable funding activity was Lombard, a startup focused on integrating Bitcoin into the decentralized finance (defi) space. Lombard successfully raised $16 million in its seed round, with Polychain Capital leading the way. The company’s flagship product, LBTC, provides a liquid and yield-bearing representation of Bitcoin, enabling users to engage in defi activities like lending and trading while still holding Bitcoin. This innovation aims to enhance Bitcoin’s liquidity and introduce it into the decentralized finance ecosystem, potentially driving growth in both sectors.
OpenLedger, a web3 AI firm, was also a significant beneficiary of VC funding last week, securing $8 million in seed funding to develop its permissionless, data-focused infrastructure for AI development. The funding round was led by Polychain Capital and Borderless Capital, with contributions from Finality Capital and Hashkey Capital, among others. OpenLedger’s project focuses on enhancing AI model performance by decentralizing data pipelines, with plans to launch its infrastructure on the mainnet in the upcoming quarter.
Additionally, Mamori.xyz, an automated blockchain value extraction system, raised $5 million in seed funding. The round was led by Blockchain Capital and included investments from Velocity.Capital and Web3.com, as well as notable angel investors like Antonio Viggiano, Shujia Liang, and Grigore Rosu. Mamori.xyz aims to address security challenges in the web3 space by leveraging machine learning to create a pathfinder for blockchain security.
Lastly, Trever, an institutional operating system provider for digital assets, secured €2.4 million ($2.6 million) in seed funding. The round was co-led by TX Ventures CH and Market One Capital LUX, with additional investments from Blockchain Founders Capital DE and Dr. Alex von Frankenberg. Trever’s software offers infrastructure for financial institutions to manage digital assets, catering to banks, brokers, and funds. With clients across the DACH region, Trever aims to expand its reach throughout Europe, providing software solutions for the digital asset market.
