Weekly Funding Update | 14 Projects Received Funding, Total Funding Reaching $689 Million (October 13-19)
The largest single financing this week was the $500 million Series A financing announced by the payment-focused blockchain project Tempo, followed by the $50 million financing completed by the programmable payment network Better Payment Network (BPN).
The following are specific financing events (Note: 1. Sorted by the size of the announced amount; 2. * indicates companies in “traditional” fields whose businesses partially involve blockchain):
Tempo Completes $500 Million Series A Funding, Led by Thrive Capital
On October 18, Tempo, a payment-focused blockchain project backed by fintech giant Stripe and blockchain venture capital firm Paradigm, announced the completion of a $500 million Series A financing round led by venture capital giant Greenoaks and Joshua Kushner’s Thrive Capital. This round of financing valued Tempo at $5 billion, with participation from Sequoia Capital, Ribbit Capital, and Ron Conway’s SV Angel.
YZi Labs leads $50 million funding round for Better Payment Network (BPN)
On October 16th, YZi Labs announced that it had led a $50 million funding round for the Better Payment Network (BPN), a programmable payment network. BPN is committed to building a global settlement infrastructure for the multi-stablecoin era. Deployed natively on the BNB Chain, it utilizes a hybrid CeDeFi architecture to balance efficiency, programmability, and compliance.
Astra Nova Completes $48.3 Million in Funding, Expanding into Web3 and AI Entertainment Ecosystems
On October 18th, Astra Nova, a Web3 and AI-powered entertainment infrastructure company, secured $48.3 million in funding to expand its code-free creation and tokenized content platform. $41.6 million of this funding came from a recent strategic round of investment, with participation from family offices and institutional investors in Saudi Arabia, the UAE, and Bahrain.
Blockchain financial services company Telcoin completes $25 million in funding
On October 16th, blockchain financial services company Telcoin announced it had secured $25 million in funding to support the launch of its Telcoin Digital Asset Bank. The funds will help meet regulatory requirements for the bank’s operations, which are expected to begin later this year after receiving final approval from Nebraska regulators.
On October 15, the decentralized energy network Daylight announced the completion of $15 million in equity financing, led by Framework Ventures, with participation from a 16 z Crypto, Lerer Hippeau, M 13, Room 40 Ventures, EV 3, Crucible Capital, Coinbase Ventures and Not Boring Capital. In addition, it received $60 million in project development funds led by Turtle Hill Capital. The company plans to use this money to build a distributed energy network powered by kriptocurrency and explore the launch of a revenue agreement based on energy infrastructure.
On October 15, open source AI provider Inference announced the completion of a $11.8 million seed round of financing, led by Multicoin Capital and a 16 z CSX, with participation from Topology Ventures, Founders, Inc. and several angel investors.
The funding will be used to expand model and infrastructure performance research and development, and enhance its ability to provide customized AI model training and deployment services to enterprises. Inference.net currently provides customized language model training and deployment support to several AI-native companies.
Stablecoin company Crown completes $8.1 million seed round of financing, led by Framework Ventures
On October 14, Brazilian stablecoin company Crown announced the completion of an $8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company’s launch of the stablecoin BRLV, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds.
On October 19th, TradeTalent, an AI-powered Web3 recruitment platform, announced the completion of an $8 million funding round led by Nasdaq-listed Allied Gaming & Entertainment (NASDAQ: AGAE) and technology engineering firm Hicop Engineering. The funds will be used to accelerate the development of AI skills verification technology, expand its global network of businesses and talent, and enhance the platform’s Web3 trust infrastructure.
Orochi Network Completes $8 Million in New Funding, with Ethereum Foundation and Others Joining
On October 17, the decentralized data infrastructure project Orochi Network announced the completion of a new round of financing of US$8 million, with participation from institutions such as the Ethereum Foundation. As of now, its total financing has reached US$20 million. The new funds will be used to build verifiable data infrastructure for areas such as RWA and stablecoins.
Decentralized AI marketplace 4AI completes $6 million in strategic funding, led by 0xLabs
On October 15, according to official news, the decentralized AI market 4 AI announced the completion of a US$6 million strategic financing led by 0xLabs.
Temple Digital Group Completes $5 Million Seed Round Led by Paper Ventures
On October 16, digital asset trading platform Temple Digital Group announced the completion of a $5 million seed round of financing, led by Paper Ventures and participated by YZi, CMT Digital, Sfermion, Halo Capital, Protagonist, 5 N Canton, Eterna Capital, GSR, etc. The new funds will be used to support its construction of a privacy-focused digital asset trading platform on the Canton Network, while supporting additional assets, financial instruments and cross-blockchain network integration.
Voyage Completes $3 Million Pre-Seed Round with Participation from a16z and Other Institutions
On October 16, Voyage announced the completion of a $3 million Pre-Seed round of financing, with participation from institutions such as a 16 z speedrun, Solana Ventures, AllianceDAO, IOSG Ventures, and several heavyweight angel investors in the crypto industry, including Trends.fun founder Mable Jiang, Farcaster co-founder Varun Srinivasan, and former SushiSwap operations director and former IOSG investor Kuan.
Decentralized trading platform ANT.FUN announced the completion of its B1 round of financing
On October 15th, the decentralized trading platform ANT.FUN announced the completion of a multi-million dollar Series B1 funding round led by mimStream Investment. mimStream Investment is a venture capital firm focused on artificial intelligence (AI) and Web 3. Its portfolio includes the AI-powered online audio platform Ximalaya, the AI-powered paid knowledge platform Fanshu Media (formerly Fan Deng Reading), and livestreaming platforms Li Jiaqi and Mei One. ANT’s short video and livestreaming features are reportedly slated to launch soon.
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