Crypto VC funding: Praxis takes home $525m, Blockstream follows suit with $210m

Praxis and Blockstream grabbed headlines this week, each with six-figure fundraising rounds, per the latest data.

Crypto VC funding has seen a noticeable spike over the last seven days compared to last week, when Ithaca led the pack with a $20 million raise. However, this week, as Bitcoin (BTC) reclaimed the $68,000 level, crypto.news analyzed and collected data from data from Oct. 13 to Oct. 19.

Here are the firms that topped the list, according to Crypto Fundraising.

Praxis, $525 million

• Praxis is the first network state, which is building an online community of people with similar national consciousness.
• The firm leads the week’s crypto VC funding with $525 million raised.
• The primary investors in the fundraising include Gem Digital, Arch, Manifold, etc.

Blockstream, $210 million

• Blockstream is building a crypto-financial infrastructure based on Bitcoin.
• The company has raised $210 million from lead investor Fulgur Ventures.
• Blockstream’s crypto VC funding stands at $621 million in total.

Azra Games, $42.7 million

• Azra Games is a gaming studio that focuses on creating immersive-role playing games.
• In a Series A led by Pantera, the company raised $42.7 million.

Yellow Card Financial, $33 million

• Yellow Card Financial is a pan-African crypto exchange.
• The exchange raised $33 million in a Series C led by Blockchain Capital.
• Yellow Card Financial has raised a total of $89.5 million so far.

Towns, $25.5 million

• Towns is a web3 group chat protocol that allows communities to build blockchain-based gatherings.
• The firm has raised $25.5 million in a Series A by a16z Crypto, Benchmark and Framework.

Bitnomial, $25 million

• Bitnomial is a crypto exchange based in the U.S. that offers futures and options trading for cryptocurrencies.
• The exchange raised $25 million from Ripple via a Series C funding round.
• Bitnomial has raised $36.6 million so far.

ZkPass, $12.5 million

• The identity verification solution has raised $12.5 million in a Series A round, with a round valuation of $100 million.
• ZkPass has raised $15 million till date.

Opacity Network, $12 million

• Opacity Network is a zero-knowledge proof protocol that aids in enabling verification without disclosing any details.
• The firm has raised $12 million in a seed funding round.

Solv Protocol, $11 million

• Solv Protocol provides investors with access to crypto investments via a trustless fund infrastructure.
• The company raised $11 million in a strategic round with a round valuation of $200 million.

Mento Labs, $10 million

• Mento Labs is a platform that creates and operates multi-currency stable assets.
• The firm has raised $10 million on Oct. 16.

Crypto VC funding rounds < $10 million

• Predicate: The decentralized network raised $7 million.
• ZeroBase: The ZK proof generation platform raised $5 million from investors like Binance Labs, Lightspeed Action, etc.
• Drop Protocol: Drop Protocol raised $4 million in a seed funding round.
• Plasma: The zero-fee payment platform raised $3.5 million.
• Pell Network: Pell Network raised $3 million in a pre-seed round.
• Blockcast: The content delivery network raised $2.85 million in a seed funding round.
• The Arena: The Arena raised $2 million in a pre-seed round.
• Hyve DA: The data availability network raised $1.85 million in a pre-seed round.
• Surge: Surge raised $1.8 million in a pre-seed round from investors like Gerstenbrot Capital, CoinGecko, etc.
• Hermetica: The DeFi platform raised $1.7 million in a seed round.
• Lombard: Lombard raised $1 million from Binance Labs.
• World of Dypians, CCData, Bracket Labs and Marketnode raised undisclosed amounts this week.

Check out our last week’s column from here.