Funding Roundup: Crypto companies in India, Germany secure VC funds

Funding Roundup: Crypto companies in India, Germany secure VC funds

Venture capital firms continue to distribute their funds to crypto startups around the world, marking another week in which dollars find their way into the space despite the bear market.

Blockchain startup from India5rdsecured a$100 million Series Aled by investors including Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital – giving it unicorn status as it reached a valuation of $1.5 billion.

“5ire plans to aggressively grow into implementing the range of use cases and providing related services to those willing to be pioneers in their business space through the use of 5ireChain-based solutions,” a 5ire representative told Blockworks.

The company currently employs an estimated 110 people and plans to continue expanding its finance, human resources, technology, content, marketing, partnerships and business development teams.

Well-known digital asset management platformGnosis Saferenamed to “secure“ after a community vote and raised$100 million in fundingled by early-stage crypto fund 1kx.

The foundation said the money will enable Safe to develop a range of ecosystem applications and tools for its smart contract account protocol.

Safe wasn't the only company 1kx added to its coffers this week. The company also led the funding of cross-chain infrastructure protocol Li.Finance.

Elsewhere in Germany —Never dismantleda Web3 ecosystem development company focused on providing tools for users to read, write and own collected digital assets3 million euros (US$3 million) seed roundjointly led by Signature Ventures and Polymorphic Capital.

The startup began as an incubation project within Keyko, a full-stack Web3 products and services company, and aimed to solve problems related to data exchange with tokenization and smart contract gateways. As it evolved, it became a decentralized solution for digital assets with broader applicability.

"We see many startups trying to combine data with blockchains. Nevermined is the first company to understand the complexity and offer actual solutions at the intersection of data and Web3," said Juliane Hahn, managing director of Signature Ventures, in a statement.

“In the future, every data-driven company will need the ability to transform their data silos into data ecosystems.”

Don Gossen, CEO of Nevermined, told Blockworks that the company plans to focus its efforts on marketing and branding and improve scalability by making its modular services more readily available through various channels.

Further capital increases last week:

• Animoca-Markendas in Hongkong ansässige Spielesoftware- und Risikokapitalunternehmen hinter The Sandbox, gesichert 75 Millionen Dollar sein „Open Metaverse“-Konzept zu erweitern. Nach der Erhöhung wird das Unternehmen nun mit 5,9 Milliarden US-Dollar bewertet.
• Quadratein Startup, das einen Web3-Identitätspass erstellt, hat a 7,5-Millionen-Dollar-Seed-Runde geführt von Dragonfly Capital Partners.
• Dezentrales Sportspiel Scorefam gesichert 25 Millionen Dollar aus Global Emerging Market über eine Initiale coin Angebot.

Get the day's best crypto news and insights delivered to your inbox every evening. .

The post Funding Roundup: Crypto Companies in India, Germany Secure VC Funds is not financial advice.