VC monthly report：The financing number and amount in June reached its lowest point in last 2 years

Jul 02, 2023

Author: WuBlockchain

According to RootData, there were 83 public investments by crypto VCs in June, down 14% from the previous month (97 projects in May 2023) and down 44% from the previous year (149 projects in June 2022). Please note that not all financing is announced in the same month, so the above statistics may increase in the future. Here are the primary industry classifications:

Among the crypto market segments in June, the infrastructure category accounted for approximately 31% of the number of projects funded, DeFi accounted for approximately 18%, CeFi accounted for approximately 8%, and NFT/GameFi accounted for approximately 20%.

Total funding in June was $520 million, down 32% from the previous month ($760 million total in May 2023) and down 71% from the previous year ($1.81 billion total in June 2022). The following rounds exceeded $15 million:

Gensyn, a blockchain-based AI computing protocol, closed a $43 million Series A round led by a16z with participation from CoinFund, Canonical Crypto, Protocol Labs and others. Gensyn’s protocol enables developers to build AI systems using connected hardware while paying on demand and using a cryptographic authentication network.

Web3 game studio Mythical Games closed a $37 million Series C1 round led by Scytale Digital with participation from ARK Invest, Andreessen Horowitz and Animoca Brands. Mythical Games is known for its Mythical Chain blockchain-based games, Mythical Marketplace, and blockchain-based games NFL Rivals and Blankos Block Party.

Web3 wallet platform Galaxy Finance announced the closing of a $30 million Series B funding round, co-led by leading Hong Kong investment fund BlackPine, Singapore-based crypto investor QCP Capital, and U.S. blockchain investment fund Tally Capital. The new funding will be used to expand its Web3 wallet and financial education programs and to expand its reach in the Southeast Asian market.

Arkon Energy, a bitcoin mining startup that uses renewable power, secured $26 million in new funding to enter the U.S. Arkon Energy plans to expand by acquiring a data center in Ohio with a design capacity of 100 megawatts, which is expected to increase the company’s hash rate by the end of 2023. The financing will be used to fund Arkon’s aggressive expansion plans in North America.

Meanwhile, the first cryptocurrency-denominated life insurance company, announced that it raised approximately $19 million in two seed funding rounds, the first co-led by OpenAI CEO Sam Altman and former head of Stripe issuing Lachy Groom, and the second led by Gradient Ventures. The funds will be used to obtain regulatory clearance and launch its first product, a bitcoin-denominated whole life insurance policy.

DWF Labs announced the purchase of an additional $18 million worth of CFX tokens from Conflux officials to strengthen its relationship with Conflux, for a total purchase of $28 million.

Singapore-based digital payments startup Dtcpay announced it raised $16.5 million in a Pre-A round of funding, led by Chairman of Singapore’s leading hotel company Pontiac Land, Kwok Leung Tak. Other investors include David Tung, former Managing Director and Partner of Carlyle Group, Jean-Marc Poullet, Chairman of Burgess Asia and Tham Sai Choy, former Chairman of KPMG Singapore and Asia Pacific. Dtcpay was founded in 2019 and offers account issuance, domestic transfers, cross-border transfers, merchant acquiring, e-money issuance and digital payment token services, among other services.

Lens Protocol, a decentralized social protocol, closed $15 million in funding led by IDEO CoLab Ventures, with participation from venture capital firms such as Blockchain Capital and DAOs such as Punk DAO and DAO5, and angel investors such as Hayden Adams, CEO of Uniswap, and Alex Atallah, co-founder of OpenSea. Lens has been in beta since May 2022 and the new funding will be used to help expand the protocol’s ecosystem.

Wu Blockchain

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