$201.4 Million Raised in Crypto Funding as Futureverse and RISC Zero Lead the Way
Venture capital and investment firms recently invested a total of $201.4 million in various crypto projects. Two standout raises were metaverse startup Futureverse and zero-knowledge-proof provider RISC Zero, which secured the largest fundraises.
Futureverse, a metaverse startup, successfully raised an impressive $54 million in its Series A funding round. The funding was led by 10T Holdings and Ripple Labs, signaling the confidence of prominent investors in Futureverse’s mission. The company aims to empower developers and users by creating a collaborative ecosystem that consolidates 11 metaverse infrastructure and content companies. With the funds raised, Futureverse plans to enhance its comprehensive technology, including the Futureverse Platform and The Root Network.
RISC Zero, on the other hand, raised $40 million in a Series A round. The company specializes in providing zero-knowledge-proof tools for developers. Led by Blockchain Capital, the funding round attracted participation from key investors like Bain Capital Crypto, Galaxy Digital, IOSG, and RockawayX. RISC Zero aims to improve accessibility and efficiency for zero-knowledge-proof applications across various computing environments.
Apart from Futureverse and RISC Zero, the funding round included investments in five other infrastructure sector companies. Cosmic Wire, a Web3 and blockchain solutions technology company, secured $30 million in its series A seed round from notable investors such as the Solana Foundation and Polygon. Manta Network, a project with ambitious goals, raised an impressive $25 million in Series A funding, with renowned investors Polychain and Qiming Venture Partners leading the way. Superblock, a major player in the development of Over Protocol, secured $8 million in funding from prominent companies and venture capitalists in South Korea. Additionally, Side Labs, the firm behind cross-blockchain liquidity network Side Protocol, successfully secured $1.5 million in funding.
The surge in infrastructure funding reflects the increasing interest of venture capitalists in this sector. In June alone, the infrastructure sector received over $210 million across 26 funding rounds, and this trend has continued in recent weeks. Despite the overall decline in fundraising activities since their peak in February 2023, the positive developments in the crypto space have uplifted industry sentiment. With influential players like BlackRock, VanEck, WisdomTree, and Fidelity applying for Bitcoin exchange-traded funds (ETFs) and Ripple’s legal victory against the Securities and Exchange Commission, the outlook remains positive.
In just one week, the crypto space raised a substantial $201.4 million, indicating the continued positive momentum. As the industry continues to evolve, innovative projects like Futureverse and RISC Zero are attracting significant investments, fueling growth and development in the crypto sector.
