TLDR:
- Morpho raised $50 million in a strategic round, leading the pack in a week where crypto startups raised $107.6 million.
- Other notable investments included DuelNow securing $11 million and Daylight receiving $9 million in funding.
In an eventful week for blockchain startups, Morpho, a decentralized crypto lender, emerged as the top fundraiser, attracting $50 million in a strategic round led by Ribbit Capital. Other significant investments included DuelNow raising $11 million and Daylight securing $9 million. The funding rounds highlight the continued interest and support for innovative projects in the crypto and blockchain space.
Morpho’s $50 million round was led by Ribbit Capital, with contributions from a16z and Coinbase Ventures. The company has evolved into Morpho Blue, a comprehensive lending protocol with built-in risk management features. CEO Paul Frambot emphasized that the new funding will enhance Morpho’s decentralization and support global growth.
Decentralized sports betting platform DuelNow received $11 million in fresh capital, with GEM Digital Limited contributing $10 million. Key angel investors like Charlie Lee and Billy Markus also participated in the funding round. DuelNow aims to redefine the sports betting industry by utilizing blockchain technology on the Arbitrum network, offering a transparent and peer-to-peer betting experience.
Daylight, a project specializing in decentralized infrastructure networks for energy distribution, raised $9 million in a series A round. A16z Crypto led the round, with Framework Ventures and others participating. Daylight plans to optimize energy consumption and distribution by connecting various energy devices to a decentralized network, potentially revolutionizing the energy sector through distributed technologies.
Other noteworthy investments in the crypto space included Hyperbolic Labs closing a $7 million seed funding round, Pichi Finance raising $2.5 million, and Raad Labs collecting $2.25 million. These funding rounds highlight the diverse range of projects and innovative solutions being developed in the blockchain and crypto industry.
