TLDR:
- Blockchain startups and crypto projects raised over $100 million in venture capital this week.
- Key funding activities included PQShield raising $37m, Renzo raising $17m, Particle Network securing $15m, and Sonic wrapping up a $12m series A round.
This week, the blockchain and crypto space saw a flurry of funding activities, with various startups raising substantial amounts of venture capital. The total funding raised collectively exceeded $100 million between June 16 and June 22, showcasing the growing interest in blockchain applications. Here are the key highlights from this week:
Key Elements
PQShield Series B Round – $37m
Security startup PQShield closed a $37 million Series B round led by Addition. The funding will be used to enhance its post-quantum cryptography solutions, aiming to future-proof cryptographic systems against quantum computer-based hacks.
Renzo Series A Round – $17m
The Ethereum restaking protocol, Renzo, secured $17 million in a series A round led by Galaxy Ventures and Brevan Howard Digital Nova Fund. Renzo enables users to restake various Ethereum assets and currently has a market capitalization of nearly $115 million.
Particle Network Funding – $15m
Particle Network, a modular blockchain developer, raised $15 million in a series A round co-led by The Spartan Group and Gumi Cryptos Capital. The funding will support Particle’s work on chain abstraction technology and its expansion.
Sonic Series A Round – $12m
Sonic, a Solana layer-2 network focused on gaming, raised $12 million in a series A round led by Bitkraft Ventures. The funding will help Sonic simplify Web3 gaming complexities and integrate with various gaming genres.
ZKX Funding – $7.6m
ZKX, a social perpetual trading DEX, secured $7.6 million in total funding, including a recent $6.3 million seed round. The platform aims to enhance perpetual swaps through social trading features and cross-chain interoperability.
In addition to these key funding activities, several other startups in the blockchain and crypto space also secured significant funding rounds, signaling a continued interest in the sector. The investments highlight the growing innovation and potential for blockchain technology to disrupt various industries.
