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



The Federal Reserve’s policy has exacerbated the short-term risks in the Crypto market, although the investment fever in the Crypto primary market has not been doused for the time being. Looking at this week’s statistics (18 projects in total), the number of web3 infrastructure (8) pitches started to rise, while the number of pitches for NFT (3), GameFi (5) and DeFi (2) projects remained at average levels. CGV, in conjunction with CTC, has put together a roundup of the week’s noteworthy pitches in the global crypto market, as follows 16 May 2022 The following is a summary of the global crypto market’s noteworthy pitches for May 16 — May 22, 2022.

【Infrastructure】

1. Certora | Series B financing of $36 million|Led by Jump Crypto

On May 17, Certora, a blockchain smart contract security analytics company, announced the completion of a $36 million Series B funding round led by Jump Crypto, with participation from Tiger Global, Galaxy Digital, Electric Capital, ACapital, Framework Ventures, Coinfund, Lemniscap, Coinbase, VMware and others.

Link to original article:https://www.theblockcrypto.com/post/147066/certora-announces-36-million-series-b-funding-round-led-by-jump-crypto

2. Metatheory | Series A financing of $24 million|Led by a16z

On May 17, Metatheory closed a $24 million Series A round led by a16z with participation from Pantera Capital, FTX Ventures, Breyer Capital, Merit Circle, Recharge Theme Ventures, Dragonfly Capital Partners, Daedalus, Sfermion and Global Coin Research, among others.

Link to original article:https://www.businesswire.com/news/home/20220516005220/en/Twitch-Co-Founder-Kevin-Lin-Raises-24-Million-Series-A-for-New-Web3-Interactive-Media-Company-Metatheory

3. CyberConnect | Series A funding of $15 million|Led by Animoca Brands

On 17 May, CyberConnect, the Web3 social platform, closed a $15 million Series A round of funding led by Animoca Brands and Sky9 Capital.

CyberConnect plans to use the funding to continue building its protocols, expand its team and launch new Web 3 projects.

Link to original article:https://www.coindesk.com/business/2022/05/17/cyberconnect-raises-15m-to-expand-social-graph-protocol/

4. Seed Club | Raising $15 million|Multicoin and others participated

On May 18, Web3 accelerator Seed Club will close a $15 million funding round at a $150 million valuation with participation from USV, Multicoin Capital, Placeholder and others, which will be used for ecological development.

Link to original article:https://snapshot.org/#/club.eth/proposal/0x182878f44a586f112f1d6757e7267237e7d99c29ce1ebe1f630323a6502a49ef

5. BitKeep | Series A funding of $15 million|Led by Dragonfly

On May 18, BitKeep, a multi-chain crypto wallet, closed a $15 million Series A funding round at a $100 million valuation, led by Dragonfly, with participation from KuCoin Ventures, Foresight Ventures, A&T Capital, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, YM Capital and others.

Link to original article:https://blog.bitkeep.com/en/?p=688

6. NodeReal | Series A funding of $16 million|Led by Sky9 Capital

On 19 May, infrastructure provider Nodereal closed a $16 million Series A round of funding led by Sky9 Capital.

NodeReal was founded in 2021 and is based in Singapore. It aims to empower developers, innovative Web3 applications and large Web2 applications to explore blockchain with scalable solutions.

Link to original article:https://www.digitaljournal.com/pr/nodereal-announces-16m-in-series-a-funding-led-by-sky9-capital-to-build-one-stop-infrastructure-for-web3

7. Coins.ph | Series C financing of $30 million|Led by Ribbit Capital

On May 19, Coins.ph, a provider of crypto-wallet services, announced the closing of a $30 million Series C round of funding led by Ribbit Capital.

Link to original article:https://haxbyq.com/checking-browser?h=waWQiOjEwNTQwMzAsInNpZCI6MTE0Mzg3MCwid2lkIjozNDYxODMsInNyYyI6Mn0=eyJ&si1=&si2=

8. STG | Series A financing of $3 million|Led by Blue Bay Ventures

On May 19, STG (Security Token Group) closed a $3 million Series A round of funding led by Blue Bay Ventures with participation from Blizzard Fund (Avalanche Eco Ventures), Exodus and others.

STG focuses on building financial infrastructure to support the development of the securities token industry, helping asset owners to tokenize their assets using blockchain technology.

Link to original article:https://itsecuritywire.com/news/security-token-group-rakes-3-million-in-series-a-funding-round-as-a-strategic-investment-led-by-blizzard-fund-exodus-blue-bay-ventures/

【DeFi】

9. iZUMi Finance | Raising $30 million|Cobo and others participaded

On 21 May, iZUMi Finance, the multi-chain DeFi protocol, announced the completion of a $30 million funding round, including institutional investors from Ivy Venture, Cobo and Mirana.

Link to original article:https://www.coindesk.com/business/2022/05/20/defi-protocol-izumi-finance-raises-30m-launches-exchange/

10. AFKDAO | Private placement round raising $3 million|AC Capital and others participaded

On May 21, AFKDAO, the NFT DeFi infrastructure, announced the closing of a private funding round of over $3 million, raised by AC Capital, YGGSEA, Hoo Labs, AvocadoDAO, Yunko Association, Youbi Capital, GEMS, Sharding Capital, CryptoVN, Keys Labs, Blokpact, Koi Capital, IOBC, Play It Forward DAO, Lead Capital, SilverFox Foundation, Hot DAO, FishDAO, NFV, WAGMI33, and GMC Capital. The funding round will be used to continue the expansion of AFKDAO’s presence in South East Asia.

Link to original article:https://medium.com/@AFK_DAO/afkdao-private-sale-announcement-bae48f9eaf39

【GameFi】

11. FreshCut | Raising $15 million|Animoca Brands and others lead

On May 18, FreshCut, a Polygon-based Web3 game platform, announced a $15 million funding round co-led by Galaxy Interactive, Animoca Brands and Republic Crypto. Hashed, SkyVision Capital, Tamarack Global, C2X, Polygon and others participated. The funding round will be used to continue developing its short-form video content platform.

Link to original article:https://decrypt.co/100719/polygon-gaming-platform-freshcut-raises-15m

12. Awkay Technologies | Raising $2.5 million|Led by Vendetta Capital

On 19 May, game development company Awkay Technologies closed a $2.5 million funding round. The round was led by Vendetta Capital and Icetea Labs, with funding from Animoca Brands, Morningstar Ventures, Bridge Mutual, Momentum6, FomoCraft, GAINS Associates, Paribu Ventures, Cryowar, AU21, ZBS Capital, Good Games Labs, BreederDAO, PolkaCity, RBL Labs, Tuzanye Game Guild, AvStar Capital, Parachain Ventures and Tehmoonwalker, among others.

Link to original article:https://www.accesswire.com/701382/The-Unfettered-from-Awkay-Technologies-Raises-25M-in-Private-Investment-Round

13. Azra Games | Seed round funding of $15 million|Led by a16z

On May 19th, Azra Games, a chain game studio, announced the closing of a $15 million seed funding round led by a16z, with participation from NFX, Coinbase Ventures, Play Ventures and Franklin Templeton. The round will be used to launch its first combat RPG, Project Arcanas.

Link to original article:https://www.coindesk.com/business/2022/05/19/a16z-leads-15m-round-for-p2e-studio-azra-games/

14. Saga | Seed round funding of $6.5 million|Polygon Studios and others participated

On May 19th, Saga, a startup focused on developing a ‘proprietary’ blockchain for the gaming and entertainment industry, announced the closing of a $6.5 million seed funding round at a valuation of $130 million.This round was funded by Maven 11, Longhash Ventures, Hypersphere, Figment, Polygon Studios, Samsung NEXT, Chorus One, GSR, C2X, CRIT Ventures, Akash Network, Unanimous Capital, Strangelove Ventures, Tess Ventures, Merit Circle, Hustle Fund, Polymer, Zaki Manian, Jae Kwon, Garrette Furo, Alex Shin, Nick Tomaino and others participated.

Saga can be customized for developers to meet their needs with a dedicated blockchain that can be used as an extension solution to Layer 1 and Layer 2. The company plans to release a test network in the next few months and launch the main network and Token in 2023.

Link to original article:https://www.theblockcrypto.com/post/147770/saga-raises-6-5-million-to-build-scalable-chainlets-for-web3-developers

15. Voyage Finance | Pre-seed round raises $1 million|Led by Delphi Ventures

On May 20, Voyage Finance closed a $1 million pre-seed round led by Delphi Ventures, with participation from Darryl Wang, head of BlockchainSpace, PathDAO, DeFiance Capital, Gabby Dizon, co-founder of Yield Guild Games, and Sam Kazemian, founder of Frax Finance. Voyage Finance focuses on providing DeFi services to blockchain gaming guilds and gamers, with its first partner being Avalanche on-chain game Crabada.

Link to original article:https://www.techinasia.com/sg-fintech-firm-bags-1m-offer-loans-guilds

【NFT】

16. Tally Labs | Raising $12 million|Led by a16z Crypto

On May 18th, Web3 media company Tally Labs closed a $12 million seed round led by a16z Crypto, with participation from Sterling VC, Dapper Ventures, Roham Gharegozlou (CEO of Dapper Ventures), Odell Beckham Jr, Allyson Felix and others.

Link to original article:https://cointelegraph.com/news/tally-labs-strive-to-expand-decentralized-content-ecosystem-with-12m-funding

17. Pine Protocol | Seed round funding of $1.5 million|Led by Amber Group

On 18 May, Pine Protocol, a license-free NFT encrypted lending protocol, announced the completion of a $1.5 million seed funding round led by Sino Global Capital, Amber Group and Spartan Group, with participation from Alameda Research, Shima Capital, Impossible Finance and Gate Ventures. Alameda Research, Shima Capital, Impossible Finance and Gate Ventures. The new funding will be used to further develop the Pine platform and Pine Protocol, and add multi-chain support from Solana, BNB Chain, Avalanche and Fantom.

Link to original article:https://twitter.com/PineLoans/status/1526902844942856193

18. UnicornDAO | Raising $4.5 million|Yuga Labs and others participated

On 20 May, NFT project UnicornDAO announced a $4.5 million funding round with participation from World of Women and the Moonbirds NFT series, MoonPay, Polygon and Yuga Labs.

The project aims to empower female and LGBTQ NFT creators and the funding round will be used to advance the work of DAO, with initial investors gaining a seat on the board.

Link to original article:https://www.coindesk.com/business/2022/05/19/unicorndao-raises-45m-to-empower-women-and-lgbtq-nft-creators/

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