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

From last week’s statistics (11 projects in total), Web3 infrastructure projects (4) were the main direction of funding, while DeFi (3), NFT (1), Metaverse (1), and Game (1) projects also continued to have low funding numbers. CGV summarizes a week’s worth of noteworthy investment and funding information for the crypto market, as follows for January 16, 2023 to January 22, 2023 in the global crypto market.


1. Cypher | Raised $4.3 million|Led by Y Combinator

On January 19, Cypher, a multi-chain Web3 wallet, announced the completion of a $4.3 million funding round led by Y Combinator with participation from OrangeDAO, Samsung Next and others.

2. Nil Foundation | Raised $22 million|Led by Polychain Capital

On January 19, Nil Foundation, a developer of ZK technology, announced a $22 million funding round at a valuation of $220 million, led by Polychain Capital with participation from IOSG Ventures, Blockchain Capital, Starkware, and Mina Protocol.

3. Koinos Group | Raised $500,000|Led by Blockchain Founders Fund

On January 20th, Koinos Group, a developer of the public chain Koinos, closed a $500,000 seed round led by Blockchain Founders Fund with participation from Splinterlands.

4. Jeff | Pre-A round of financing|Joycity and others participated in the project

On January 20, Jeff, a subsidiary of Korean payment company Danal’s Meta Universe, closed a Pre-A round of funding with participation from Singapore VC Xponential Ventures and gaming company Joycity for an undisclosed amount.


5. Davos | Pre-seed round raises $500,000|Polygon Ventures participates

On January 18, DeFi startup Davos announced the closing of a $500,000 pre-seed round with participation from Polygon Ventures and Polygon co-founder Sandeep Nailwal.

6. Elixir | Seed round funding of $2.1 million|FalconX and others participated in the project

On January 17, Elixir, a DeFi protocol, closed a $2.1 million seed round with participation from FalconX, Commonwealth, OP Crypto, ChapterOne and others.

7. Diva | Seed round funding of $3.5 million|Led by A&T Capital

On January 17, Diva, a decentralized liquidity pledge protocol, closed a $3.5 million seed round led by A&T Capital with participation from Gnosis, Bankless, OKX Blockdream Ventures, Metaweb, DCV Capital, Alphemy Capital and others.


8. Intella X | Raised $12 million|Animoca Brands and others participated in the project

On January 18, Intella X, a Web3 gaming platform, announced the completion of a $12 million funding round with participation from Polygon, Animoca Brands, Magic Eden, Planetarium, Big Brain Holdings, Crit Ventures, JoyCity, Pearl Abyss, XL Games, Wemix, and Global Coin Research.


9. Candy Digital | Series A1 financing of $38.5 million|Led by Galaxy Digital

On January 20, Candy Digital, a sports NFT company, closed its Series A1 funding round earlier this year for $38,449,997 led by Galaxy Digital and ConsenSys Mesh, with participation from 10T Holdings and ConsenSys, among others. Candy Digital will use the funding to continue to expand its platform and build new partnerships with other brands and organizations.

【Web3 Applications】

10. Plai Labs | Seed funding round of $32 million|Led by a16z

On January 20, Web3 social platform Plai Labs closed a $32 million seed round of funding led by a16z, with no other investors disclosed at this time.


11. Createra | Series A financing of $10 million|Led by a16z

On January 16, Createra, a metaverse project, closed a $10 million Series A round of funding led by a16z, which is dedicated to building a metaverse platform centered on Generation Z.

About Cryptogram Venture (CGV): A Japan-based research and investment institution engaged in crypto. It has participated in early investments in Republic, CasperLabs, AlchemyPay Graph, Pocket, and Powerpool, as well as the Japanese government-regulated yen stablecoin JPYW, etc. CGV FoF is the limited partner of Huobi venture, Rocktree capital, Kirin fund, etc. Currently, CGV has branches in Singapore, Canada, and China.


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