June
3, 2021
4 min read
This story originally appeared on ValueWalk
Venture capitalists are pouring millions of dollars into cryptocurrency and blockchain-based projects and solutions. Since the year began, the aggregate market value of cryptocurrencies has risen manifold.
Q1 2021 hedge fund letters, conferences and more
Rise In Investment In Blockchain Startups
In the first quarter of 2021, blockchain startups amassed upwards of $2.6 billion in venture-capital funding, substantially more than they did throughout 2020. As of now, blockchain has cemented itself as a disruptive force, ready to bring a paradigm shift across several industries. For venture capitalists, disruption is a battle-tested way of generating huge returns on their investments.
As more innovative decentralized solutions make their way into the crypto ecosystem, initial DEX offerings (IDOs) and private sales offer up a glimpse of the future and blockchain’s potential for explosive growth over the medium term.
Automata Network Secures $2.4 Million To Build Privacy-Oriented Web 3.0 and Already Surpasses Over $5B TVL on Binance Launchpool
Automata Network is an up and coming solution that looks to provide traceless privacy services for dapps, the protocol has just locked a $2.4 funding round led by top VCs such as KR1 and IOSG ventures. The platform has launched on Binance launchpool just a couple of days ago and already reached a whopping figure of more than $5B dollars in Total Value Locked.
Automata’s solution supports Web 3.0 applications and businesses built on Binance Smart Chain, Ethereum and Polkadot. They aim to create a middleware layer as the easiest way for dApps to seamlessly integrate privacy on to their solutions. In addition, Automata is on a mission to create the framework to make data privacy and security a built-in option among decentralized applications. Their potential was already recognized by high-end players in the industry, from the Binance Launchpool announcement, to a grant from the Web3 foundation to the Berkeley Blockchain Xcelerator in 2021 and a $1 Million dollar seed round back in March, it looks like Automata Network is an up and coming, rising star.
Panther Protocol Raises $8 Million To Deliver Privacy To DeFi
Led by crypto veterans Oliver Gale and Dr. Anish Mohammed, Panther Protocol is building a privacy solution addressing the privacy needs of DeFi traders and investors. The innovative solution ensures complete transactional privacy by allowing users to convert digital assets into zAssets, a type of fully collateralized private assets that can be used across various DeFi products and services.
Some of the most prominent investors, such as Rarestone Capital, Master Ventures, DeepVentures, Moonwhale, Alphabit Fund, Ex Network, MarketAcross, Nextgen, and several more, support the project. Panther Protocol’s unique solution has attracted colossal participation from over 140 VC firms and angel investors, raising venture capital worth $8 million.
Impossible Finance Draws $7 Million To Construct All-In-One DeFi Platform
Developed by DeFi industry leaders, Impossible Finance is on a mission to build a multi-feature DeFi platform, allowing users to add liquidity, swap tokens, and stake their holdings from a single interface. The company aims to remove the complications associated with cryptocurrencies, enabling non-techie users to be a part of the crypto universe.
Impossible Finance raised $7 million from several big names within the crypto industry in its recent funding round, including True Ventures, CMS Holdings, Hashed, Alameda Research, Genesis Block Ventures, Emniscap, and more. The event also saw participation from private investors Kain Warwick & Jordan Momtazi (Synthetix), Bette Chen & Ruitao Su (Acala), Bobby Ong & TM Lee (Coingecko), Larry Cermak (The Block), Calvin Liu (Compound), and Sandeep Naiwal (Matic).
Cryption Network Concludes $1.1 Million Private Funding Round
Surfing on a wave of unprecedented demand from VC firms, retail DeFi startup Cryption Network raises $1.1 million from its private funding round. The promising concept attracted a slew of investors, including GenBlock, Master Ventures, CMS Holdings, X21 Digital, GravityX Capital, Water Drip, AU21, Sandeep Naliwal (Matic), and Humayun Sheik (Fetch.ai).
Built on Polygon, the platform aims to redefine the DeFi user experience by allowing users to swap, farm, and invest in a range of DeFi 2.0 products from a simple interface while minimizing network congestion and lowering transaction costs. The platform removes the complexities involved in crypto investments, making it more accessible to regular users.