Crypto funding: $20M week for crypto data providers and privacy-focused Web3 firms

CryptoQuant, a firm relied on by many media outlets for on chain insights, got a fresh $6.5 million capital raise

article-image

Dall-e modified by Blockworks

share

Crypto startups raised nearly $20 million in various funding rounds this week, with data analytics firms seemingly winning out. 

CryptoQuant, an on-chain and markets data provider, announced that its parent company, Team Blackbird, raised $6.5 million in a Series A round led by Atinum Investment. 

The money will go toward boosting CryptoQuant and Team Blackbird’s presence around the world. The team said its plan is to recruit employees for its South Korea and international operations.

The company has raised $9 million to date, with a previous investment from Galaxy Interactive and Mirae Asset Capital.

Web3Go, which describes itself as “an open data analytics platform for all web3 users,” also secured $4 million in seed funding this week.

Web3Go is being incubated by Binance Labs, which also led the latest round of funding. Additional investors included Shima Capital, HashKey Capital, Big Brain Holdings and NGC Ventures.

Following this recent injection of cash, the creators of Web3Go want to “accelerate” the development of what they call Web3Go Data Intelligence Network (DIN).

According to a Medium post, DIN will “empower users to access data, conduct transactions, and create content through a range of innovative platform tools.”

A focus on privacy

Ola, a Web3 privacy protocol, raised $3 million in seed funding this week, with Web3.com Ventures and Foresight Ventures at the forefront of the seed round.

The layer-2 platform said it wants to redefine privacy and acknowledged how earlier privacy-focused platforms such as Zcash, Monero and Dash aren’t programmable. Ola’s goal is to address this limitation by leveraging zero-knowledge technology to enable programmable privacy for developers and users.

Ola CEO Ocean Chen echoed this sentiment in a statement. 

“Our ultimate goal is to make privacy a fundamental right in the digital age, especially for Web3 users. This investment will propel our mission to empower individuals to reclaim ownership of their digital lives while reaping the benefits of Web3 technology,” Chen said.

Other notable fundraises

  • Shardeum, an EVM-based layer-1 blockchain that uses sharding technology, closed a $5.4 million strategic raise with a number of firms participating including Amber Group.
  • Wynd raised $1 million in a pre-seed round led by No Limit Holdings. Wynd advocates for censorship-free internet and has a Chrome extension called Grass that lets users sell their unused network resources.

Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

logo.jpeg

Research

Akash is a general-purpose compute platform with GPUs, storage, LLM training or inference, and validator hosting through its two-sided marketplace.

article-image

The SEC could allow half a dozen or more such funds to launch at once, Ark Invest CEO says

article-image

2023 saw a decline in a16z crypto funding, but the behemoth VC firm teased what it’s excited for next year

article-image

“Iran Unchained” launched a new version of its grant platform to make donations to activists easier

article-image

The stablecoin marks the first time a regulated European bank has made a euro-pegged stablecoin available on a crypto exchange

article-image

Build it and they will come, perhaps, but making crypto easier to use is turning out to be just as important

article-image

Amid moves by Itau Unibanco and Nubank, the country could serve as “a proof of concept” for TradFi-crypto integrations, industry research exec says