Several companies and DeFi protocols announced their funding updates this week. Millions of dollars were raked in, with backers all across the board taking part. Listed below are the most notable ones:
Paradigm
Technology investment firm Paradigm has to be the first name on this list for obvious reasons. It amassed a whopping $850 million this week, making it one of the largest fundraises in history. This third venture fund will be used to invest in early-stage crypto projects. Paradigm is a notable investor in several crypto firms already. Coinbase, Friend.tech, Uniswap, Optimism, Chainalysis, Fireblocks, Blast, MakerDAO, MoonPay, and Gitcoin are a few of them.
Kima
This cross-ecosystem money transfer protocol amassed $5 million in its pre-seed funding round. Prominent names like Outlier Ventures, Blockchange Ventures, Maven Capital, Big Brain Holdings, Castrum, and Kangaroo Capital participated. Kima intends to use the funds to onboard additional institutions, payment platforms and cross-chain decentralized apps within the ecosystem. Parallelly, it is also looking to grow its research and development and finance arm.
Ink Finance
This DeFi engine for protocols, DAOs, and RWA originators raised $5 million in its seed round. Axia8 Ventures, Alliance DAO, GSR Markets, P2 Ventures were among the ones who participated. Going forward, the protocol intends to scale Web3 financial management and enhance credit-based DeFi.
Honeypot Finance
This Berachain-based DeFi Hub accrued $1.3 million via its strategic round. CSP led the funding, while Web3Port Labs, Aquanow, and TKX Capital chipped in. The Honeypot team is looking to reveal NFT art, extend the FTO model, work on its V1 staking NFT game, and enhance UI/UX experience in the coming months.
Quiro Finance
This private credit protocol for institutions raised $1.2 million in a pre-seed round. Alliance DAO led the round and Trident Digital, Escape Velocity, Durid Ventures, and CMT Digital took part parallelly. Alongside, the project also secured a 100,000 MATIC grant from Polygon in February this year. The funds from the pre-seed round will be diverted towards product development and ecosystem expansion that will help Quiro prep for its launch later this year.
Nexus Network
This non-custodial staking middleware solution for rollups raised $1 million in its pre-seed round. CoinIX Capital, Mask Network, and FounderHeads VC took part in the round that was led by Hashed Emergent. The team is gearing to launch its testnet rollup in the coming week.
Others
Alongside, permissionless leverage trading protocol Particle, leveraged trading platform Holdstation, and DeFi launchpad Repo Swap also wound up fundraising rounds this week but did not unveil the amounts.
