The crypto funding landscape buzzed with activity last week, witnessing a significant capital injection totaling $470.75 million between April 20 and April 26. While numerous blockchain ventures secured fresh funding, Bitdeer Technologies Group led the pack with the most substantial raise.
This influx highlights continued investor confidence in the digital asset space, focusing on infrastructure, decentralized finance (DeFi), and specific ecosystems like Solana. Here’s a closer look at the key funding rounds:
Bitdeer Lands $179 Million
Bitdeer, a technology firm headquartered in Singapore focused on blockchain and high-performance computing, successfully raised $179 million through a mix of debt and equity financing. This major investment round received backing from Matrixport, an entity associated with Bitdeer’s Chairman, Jihan Wu. Operational updates showed the company held 1,234.4 Bitcoin (BTC), generated 39.3 BTC, and sold 17.0 BTC as of April 25, underscoring its active role in the Bitcoin mining sector.
Upexi Secures $100 Million for Solana Focus
Upexi finalized a $100 million private placement, issuing 35.97 million shares alongside 7.89 million pre-funded warrants priced at $2.28 per unit. The venture targets finance, portfolio management, and particularly the Solana (SOL) blockchain ecosystem. GSR spearheaded the funding effort, supported by prominent crypto VCs including Big Brain Holdings and Delphi Ventures. Upexi earmarked $5.3 million for operational capital and debt servicing, directing the remainder towards bolstering its SOL treasury.
Alpaca Raises $52 Million in Series C
Fintech infrastructure company Alpaca secured $52 million in its Series C funding round. The raise included contributions from both new and existing investors such as Derayah Financial, 850 Management, National Investments Company (NIC), Unbound, and Portage Ventures. Alpaca aims to use these funds to drive its international expansion efforts, particularly targeting enterprise clients and fintech partners in the US, the Middle East, and Asia.
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Nous Research Garners $50 Million for AI & DeFi
Nous Research, a startup operating at the intersection of artificial intelligence and decentralized finance, brought in $50 million via a Series A round. Investment firm Paradigm led the funding initiative, as reported by Fortune. This recent capital infusion brings Nous Research’s total funding to $70 million as it develops infrastructure within the Solana ecosystem, signaling strong interest in AI applications on the blockchain.
Symbiotic Closes $29 Million for Staking Protocol
Crypto staking protocol Symbiotic completed a $29 million Series A financing round, with Pantera Capital leading the investment. The company, which launched its permissionless restaking service on Ethereum (ETH) earlier this year, announced the funding milestone on April 23. Coinbase Ventures and several angel investors associated with projects like Aave and Polygon also participated, reflecting growing interest in restaking solutions.
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Theo Obtains $20 Million for Trading Infrastructure
Theo obtained $20 million in capital through an undisclosed funding round. The investment saw participation from Hack VC, Anthos Capital, and Manifold, among others. Theo focuses on democratizing access to institutional-grade trading infrastructure, a crucial component for market maturation.
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Investments Under $20 Million
Several other projects also secured capital infusions, albeit below the $20 million mark, indicating broad activity across different stages and niches within the crypto sector. These include:
- Analog: $15 million (Unknown round)
- Arch Network: $13 million (Series A)
- Tally: $8 million (Series A)
- MagicBlock: $7.5 million (Seed)
- Mask Network: $5 million (Unknown round)
- Inco: $5 million (Unknown round)
- Catalysis: $1.25 million (Pre-seed)
- Inflow: $1.1 million (Pre-seed)
This diverse funding activity underscores the ongoing development and specialization within the blockchain and cryptocurrency industries.