Web3 Fundraising Deals - 15th To 21st October 2024

Bridge raised a massive $1.10B in M&A Funding with assistance by Stripe. Bridge is building a stablecoin-powered money movement platform, offering services such as payouts, cross-border payments and exchanging foreign currencies.

Canyon Network acquired $6M in Undisclosed Funding thanks to timely assistance by Fission Digital Capital. Canyon Network is an on-chain AI oracle designed to deliver verifiable AI capabilities to decentralized applications. It also enables developers to integrate trustworthy AI power into smart contracts and blockchain platforms.

ZEROBASE secured $5M in Undisclosed Funding with support by Binance Labs. ZEROBASE is a real-time zero-knowledge (ZK) prover network designed for speed, decentralization, and regulatory compliance.

Drop Protocol obtained $4M in Seed Funding with help by CoinFund. Built as an Integrated Application on Neutron, Drop Protocol has a smart contract architecture which leverages the Inter-Blockchain Communication (IBC) protocol alongside Interchain Queries (ICQ) modules, enabling the platform to provide trust-minimized liquid staking services and scale with minimal additional overhead and risk.

HyveDA raised $1.85M in Pre-Seed Funding with assistance by Lemniscap. Hyve is addressing growing demand for secure, scalable, and cost-effective data availability, which has intensified following the rapid proliferation of dApps and L2 solutions.

Marketnode secured an undisclosed amount in Strategic Funding with support by Euroclear. Marketnode is a DLT-powered financial market infrastructure in the Asia-Pacific region. It operates two flagship platforms, namely Gateway and Fundnode.

zkPass obtained $12.50M in Series A Funding with help by Animoca Brands. zkPass is a composable, privacy-preserving decentralized identity verification solution for Web3 based on multi-party computation (MPC) and zero-knowledge proof (ZKP) technologies.

Mento Labs raised $10M in Undisclosed Funding thanks to timely support by HashKey Capital. Mento is a decentralized and transparent protocol that enables the creation of stable value digital assets, such as stablecoins that track the value of fiat currencies.

The Arena secured $2M in Pre-Seed funding with assistance by Blizzard Fund and Abstract Ventures. Built on the Avalanche blockchain and formerly known as Stars Arena, The Arena is a SocialFi application that enables creators to connect, engage, and monetize their content.

Lombard acquired $1M in Undisclosed Funding with help by Binance Labs. Lombard aims to create a universal standard for Bitcoin which enables the flagship crypto to generate yields across different blockchains without splitting liquidity, thereby facilitating significant capital inflows into DeFi.