CGV Research Vane | Weekly report on global crypto market investment and funding developments


The Luna and UST de-anchoring events have not only put the Terra ecosystem in crisis, but have also had a very negative impact on the crypto world as a whole. From this week’s statistics (19 projects in total), it appears that the number of web3 infrastructure (12) pitches is starting to rise, while NFT (3), GameFi (2) and DeFi (2) projects are starting to lose their pitch heat. CGV, in association with CTC, has put together a roundup of the week’s noteworthy pitches in the global crypto market for the period 9 May — 15 May 2022, as follows.

【Infrastructure】

1. KuCoin | Raising $150 million|Led by Jump Crypto

On May 10, crypto trading platform KuCoin closed a $150 million funding round at a $10 billion valuation, led by Jump Crypto with participation from Circle Ventures, IDG Capital and Matrix Partners, among others. The funding will be used to expand its product line, such as its crypto wallet, DeFi and NFT platforms.

Link to original article:https://www.coindesk.com/business/2022/05/10/kucoin-raises-150m-round-led-by-jump-crypto-at-10b-valuation/

2. Casa | Raising $21 million|Led by Acrew Capital

On May 10th, crypto wallet provider Casa announced a $21 million funding round led by Acrew Capital with participation from Positive Sum Ventures, Naval Ravikant and others, which the Casa team will use to add financial identity capabilities to its signature wallet product.

Link to original article:https://www.coindesk.com/business/2022/05/10/bitcoin-self-custody-company-casa-raises-21m-series-a/

3. Jambo | Series A funding of $30 million|Led by Paradigm

On May 10th, Jambo closed a $30 million Series A round of funding led by Paradigm with participation from Pantera Capital, Delphi Ventures, Kingsway Capital and Gemini Frontier Fund.Jambo aims to bring Web3 to Africa and create a digital economy hub in the region.

Link to original article:https://www.forbes.com/sites/ninabambysheva/2022/05/10/african-crypto-startup-raises-30-million-to-build-a-web3-wechat-for-the-continent/?sh=422fd2224540

4. Paper | Raising $7.3 million|Led by Electric Capital

On May 11, crypto payment processing company Paper closed a $7.3 million round of funding co-led by Electric Capital and Initialized Capital, with participation from Polygon, FalconX, Long Journey Ventures, ThirdWeb, Night Capital and founders of Plaid, Twitch, Fractal, MagicEden, Eventbrite, Tagomi and Bison Trails.

Paper allows users to create wallets with their email addresses and use credit cards (or crypto wallets) to purchase NFTs on the Polygon, Ethereum, Solana and Avalanche blockchains, providing a ‘hassle-free’ bridge to market for non-crypto consumers.

Link to original article:https://ph.news.yahoo.com/polygon-among-9-3m-investment-140001837.html?guccounter=1&guce_referrer=aHR0cHM6Ly9jbi5iaW5nLmNvbS8&guce_referrer_sig=AQAAAC7nfKIs-NjNBajGk-xfiMdPQ7TLGw1JlebOuN8XU-WTLVcfKk74gXMOFQLvIqpVBcoMG_gMocD1gQjJZKNTJlupIILcKJDrN7LDVBda_tS

5. Chainalysis | Series F financing of $170 million|Led by GIC

On 11 May, blockchain analytics company Chainalysis closed a $170 million Series F round of funding at a valuation of $8.6 billion, led by GIC and Singapore’s sovereign wealth fund, with participation from Dragoneer, Durable Capital Partners, 9Yards Capital, Altimeter Capital Management, Blackstone, Sequoia Heritage and SVB Capital.

Link to original article:https://www.theinformation.com/articles/chainalysis-valued-at-8-6-billion-in-gic-led-investment

6. Moralis | Series A funding of $40 million|Coinbase Ventures and others participate

On May 11, Web3 development platform Moralis closed a $40 million Series A round of funding with participation from EQT Ventures, Fabric Ventures, Coinbase Ventures and Dispersion Capital.

Moralis provides developers with the infrastructure to build and publish cross-chain applications, games and NFTs, and the round will be used for product development, improving the user experience and scaling to increase its customer capacity and support a larger customer base.

Link to original article:https://www.theblockcrypto.com/linked/146260/web3-development-platform-moralis-reels-in-40-million-in-series-a?utm_source=twitter&utm_medium=social

7. MARA | Raising $23 million|Led by Coinbase Ventures

On 11 May, African crypto trading platform MARA closed a $23 million funding round led by Coinbase Ventures, Alameda Research, Distributed Global, Day One Ventures, TQ Ventures and others. MARA will launch its Layer 1 public chain, powered by its native MARA Token, and will launch its beta network in Q4.

Link to original article:https://www.coindesk.com/business/2022/05/11/mara-raises-23m-from-coinbase-alameda-to-spread-crypto-adoption-across-africa/

8. BVNK | Series A funding of $40 million|Led by Tiger Global

On 12 May, crypto startup BVNK announced the completion of a $40 million Series A round of funding at a post-investment valuation of $340 million, led by Tiger Global, with participation from The Raba Partnership, Avenir, Kingsway Capital, Nordstar, Concentric and Base Capital. and other investors.

BVNK provides banking and payment services for crypto-native businesses. BVNK’s customers can accept payments in both conventional and cryptocurrencies, and the service now supports hundreds of different currencies and crypto assets.

Link to original article:https://techcrunch.com/2022/05/11/bvnk-grabs-40-million-for-its-crypto-banking-services/

9. Token.io | Raising $40 million|Led by Cota Capital

On 12 May, UK startup Token.io closed a $40 million funding round led by Cota Capital and TempoCap, with participation from Element Ventures, MissionOG, PostFinance, Octopus Ventures, Opera Tech Ventures, SBI Investments and others.

Token.io is dedicated to building alternative payment technologies to improve the way cross-border payments are made, including the use of cryptocurrencies. token.io divested its crypto business called M10 in 2019 and is now focused on helping banks build and run Token for creating their own digital currencies and for other purposes.

Link to original article:https://techcrunch.com/2022/05/12/token-io-raises-40m-to-expand-open-banking-based-account-to-account-payments-in-europe/

10. Oasis Pro | Series A financing of $27 million|Gate Ventures and others participated

On May 12, Oasis Pro Inc. closed a Series A round of funding of over $27 million with participation from UDHC, Blizzard the Avalanche Fund, Inveniam, Redwood Trust (NYSE:RWT), TrustLabs, Mirae Asset Venture Investment, Gate Ventures, LedgerPrime, StableNode and others.

The funding round will be used to drive continued growth by building a senior management team, expanding global business development, expanding into new revenue streams, expanding the technology platform globally, and adding complementary blockchain technologies.

Link to original article:https://www.businesswire.com/news/home/20220512005258/en

11. Solidus Labs | Series B funding of $45 million|Led by Liberty City Ventures

On May 12, Solidus Labs, a crypto market monitoring company, closed a $45 million Series B round of funding led by Liberty City Ventures, with participation from Evolution Equity Partners, Declaration Partners, former OCC Brian Brooks and former CFTC Chairman Christopher Giancarlo. The company was led by Liberty City Ventures, with participation from Evolution Equity Partners, Declaration Partners, former OCC Brian Brooks and former CFTC Chairman Christopher Giancarlo.

Solidus Labs provides a suite of tools for parsing blockchain data against more than 50 different types of security threats, such as cleansing transactions, spoofing transactions, and pull-up and sell-down schemes.

Link to original article:https://www.forbes.com/sites/ninabambysheva/2022/05/12/former-top-regulators-chris-giancarlo-brian-brooks-invest-in-crypto-risk-monitoring-startup-solidus-labs/?utm_source=TWITTER&utm_medium=social&utm_content=6962435275&utm_campaign=sprinklrForbesCrypto&sh=62a581c86945

12. Belo | Seed round funding of $3 million|CRV and other participated

On 12 May, Argentine cryptocurrency startup Belo closed a $3 million seed funding round with participation from CRV, The Venture city, Newtopia and Latitude.

Belo began offering a digital wallet service in Argentina in September 2021, allowing users to buy and sell Bitcoin, Ether, DAI and USDT using Argentine pesos through the Belo wallet.

Link to original article:https://www.coindesk.com/business/2022/05/12/startup-cripto-belo-levanta-3-millones-en-ronda-seed-para-expandirse-a-brasil-y-mexico/

【DeFi】

13. Chainflip Labs | Raising $10 million|Pantera Capital and others participated

On May 11, Chainflip Labs announced a $10 million round of funding from Framework Ventures, Blockchain Capital and Pantera Capital, which will be used to build a cross-chain DEX, with the team planning to launch the first version of the DEX product later this year.

Link to original article:https://www.theblockcrypto.com/post/146223/chainflip-labs-secures-10-million-for-cross-chain-dex

14. Satori | Raising $10 million|Led by Polychain

On May 13, Satori closed a $10 million round of funding led by Polychain, Blockchange, with participation from Jump Crypto, Coinbase Ventures, Portal, Acala, Astar, Parallel, Clover and Boca founder Gavin Wood. and others.

Satori, a derivatives marketplace that combines AMM with an order book model and allows institutional users to respond to extreme market events with Satori’s ready-to-use API and fast execution of trades, will go live in the coming weeks, bringing decentralised derivatives to Polkadot.

Link to original article:https://medium.com/satorifinance/satori-raises-10m-led-by-polychain-and-blockchange-bringing-decentralized-derivatives-to-2f29abf620ab

【GameFi】

15. Nyan Heroes | Raising $7.5 million|Led by Kosmos Ventures

On May 10, Nyan Heroes, a P2E game based on Solana, closed a $7.5 million strategic funding round at a $100 million valuation, led by Kosmos Ventures, Sino Global Capital, Shima Capital and Petrock Capital, with funding from Morningstar Ventures, 32-bit Ventures, Crypto.com, Tess Ventures, Master Ventures, Wave7, Ancient8, Drops Ventures, PANONY, Andromeda Capital, Salad Ventures Moonchain Capital and Snackclub, among others.

Nyan Heroes is a third-person shooter similar to Fortnite and is expected to go live in Alpha by the end of 2022.

Link to original article:https://nyanheroes.medium.com/nyan-heroes-closes-a-7-5m-strategic-round-to-rapidly-expand-team-and-scale-game-development-b20e23ec46a7

16. Branch | Raised $12.5 million|Three Arrows Capital and other participated

On May 11, gaming startup Branch closed a $12.5 million seed funding round with participation from Mechanism Play, TCG Crypto, Dragonfly Capital, Polychain, Coinbase Ventures, Three Arrows Capital, and angel investors including Polygon Studios CEO Ryan Wyatt.

Link to original article:https://www.coindesk.com/business/2022/05/11/animal-crossing-meets-minecraft-branch-raises-125m-for-play-to-earn-project/

【NFT】

17. Freeverse | Raising $10.5 million|Earlybird Venture Capital and others participated

On May 10, Freeverse, the NFT infrastructure company, announced the closing of a $10.5 million round of funding from Earlybird Venture Capital, Target Global, Adara Ventures, 4Founders Capital, OneFootball, and angel investors including football star Mario Götze, Travelperk CEO Avi Meir, OneFootball CEO Lucas von Cranach, and Taulia and Centrifuge co-founder Maex Ament. The funding will be used for marketing, as well as for product and core technology development.

Link to original article:https://venturebeat.com/2022/05/09/freeverse-io-raises-10-5m-for-nft-assets-that-can-change-over-time/

18. Co:Create | Seed round funding of $25 million|Led by a16z

On May 10th, NFT infrastructure startup Co:Create announced a $25 million seed round led by a16z, with participation from Autograph, Not Boring Capital, Amy Wu of FTX Ventures, VaynerFund, and the NFT fragmentation platform Fractional.art and The RTFKT team at NFT Studios, among others.

The Co:Create protocol will provide a smart contract platform that projects can use to cast NFT and control the royalties paid on their native Token.

Link to original article:https://www.theblockcrypto.com/post/146041/nft-infra-cocreate-crypto-raises-seed-funding-a16z

19. SOLARR | Seed round funding of $2 million|MD2 Digital and others participated

On May 13, SOLARR, the NFT liquidity platform, announced the closing of a $2 million seed round of funding with participation from All In Ventures Fund, JY Cap, MD2 Digital and others.

SOLARR seeks to address the current illiquid, volatile and less capital efficient NFT market by injecting utility into NFT and unlocking its liquidity by building a secure, versatile and multi-chain one-stop platform that will enable widespread adoption beyond the crypto space.

Link to original article:https://www.coinspeaker.com/solarr-raises-2m-accelerate-nft-utility-accessibility/

About CGV FoF: CGV FoF is an Asia-based Fund of Funds (FoF) that focuses on investments in Crypto Fund and Crypto Studio. CGV FoF is composed of family funds from Japan, Korea, and China’s mainland and Taiwan, with headquarters in Japan and branches in Singapore and Canada Website: https://www.cgv.fund/ Twitter: https://twitter.com/CGVFOF Medium:https://medium.com/@CGVFoF