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Fundraising weekly – IOTEX, BURNT, Phoenix, Agora, Raiinmaker

Dates: 01 April 2024 – 07 April 2024 This week’s notable funding rounds:

IoTeX raised $50M from SNZ Holding, Foresight Ventures, Borderless Capital, and others. IoTeX aims to integrate the physical and digital worlds through its modular DePIN structure, empowering the Internet of Trusted Things.

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Burnt (Xion) raised $25M in a Series A funding round from investors such as Animoca Brands and Multicoin Capital. Burnt is a Web3 developer creating XION, a layer-1 blockchain for consumer adoption. XION aims to simplify Web3 for non-technical users by using $USDC as its primary currency, ensuring security and stability while reducing bridging risks and price volatility.


Phoenix secured $20M from Paradigm and Electric Capital in a Series A funding round. Phoenix touts itself as the DeFi sector’s quickest on-chain orderbook, pledging unparalleled speed, effectiveness, and transparency for limit orders. Positioned as a DeFi pioneer, Phoenix offers minimal protocol and network fees, with an impressive average block time of just 0.5 seconds, exclusively on Solana. It’s crafted to elevate the trading experience with instantaneous trade confirmations and settlements, empowering traders to retain complete asset control within a trustless, non-custodial setting.

Agora raised $12M in a Seed round from Dragonfly Capital, General Catalyst, and others. Agora offers stability by pegging its value to assets like the dollar, backed by cash, Treasury bonds, and repurchase agreements.

Raiinmaker raised $7.5M in a Seed round from Jump Crypto, Cypher Capital, and others. Raiinmaker leverages decentralized AI and Web3 technology for value distribution tied to authentic identity, data, and behavior.

Sanctum raised $6.1M in a Seed round from Dragonfly Capital, Syndicate by Boogle, and others. Sanctum facilitates liquid staking on Solana, ushering in a limitless Liquid Staked Token era.

Lockchain ai secured $4.6M in a Seed round from Lerer Hippeau, Arrington Capital, and others. Lockchain ai is a risk management platform for blockchain assets, utilizing generative AI for real-time portfolio risk analysis and monitoring.

Legitimate secured $4.3M in a Seed round from Lemniscap, Draper Associates, and others. Legitimate offers an innovative framework for connecting physical products with digital experiences using blockchain technology.

Camp Network raised $4M in a Seed round from Maven 11 Capital, OKX Ventures, and others. Camp Network is a modular Layer 2 solution tailored for entertainment, media, music, and gaming industries.

Zulu Network raised $3M in a Pre-seed round from Cryptogram Venture, D11-Labs, and others. Zulu Network expands network capabilities and facilitates cross-chain interoperability.

Moongate secured $2.7M in a Seed round from Titan Fund, Token Bay Capital, and others. Moongate is an integrated platform empowering brands and event organizers to enhance community engagement through NFT tickets and memberships.

AutoLayer secured $2.5M in a Seed round from KuCoin Labs, Staked VC, and others. AutoLayer is a leading LRTfi hub on Arbitrum, offering access to a diverse range of assets, liquidity pools, farms, and vaults/strategies.

XRADERS raised $2.1M in a Seed round from FBG Capital, GM VC, and others. XRADERS provides users with reliable insights and guidance in the cryptocurrency market.

Merkle Trade raised $2.1M in a Seed round from Hashed, Arrington Capital, and others. Merkle Trade is the first gamified perpetual decentralized exchange (perp DEX), offering crypto, forex, and commodities trading with leverage up to 1,000x.

Cellula secured $2M in a Pre-seed round from SevenX Ventures, OKX Ventures, and others. Cellula is an autonomous life simulation strategy game that embraces composability and persistence.

LightLink raised $1.7M in a Seed round from MH Ventures, NxGen, and others. LightLink facilitates instant, gasless transactions for dApps and enterprises on Ethereum Layer 2.

RootData raised $1.3M in a Seed round from Northern Light Venture Capital, Mask Network, and others. RootData is a Web3 asset data platform encapsulating both Onchain & OffChain Data.

MadFi raised $1M in a Seed round from Render Token, Social Graph Ventures, and others. MadFi revolutionizes on-chain media promotion through crypto subscriptions, rewards, and revenue sharing.

SatoshiSync raised undisclosed amount in a Seed round from Candaq Fintech Group, MH Ventures, and others. SatoshiSync is a Chain-Agnostic Interoperability Protocol designed for BTCFi.

Sofamon secured undisclosed amount in a Seed round from Polychain Capital, Inception Capital, and others. Sofamon is a cultural hub for the crypto-savvy, bringing social expression to the digital realm.

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