Investors are doubling down on funding for crypto, blockchain startups

Venture capitalists are raising capital to invest in blockchain-based startups. In the past two weeks, Paradigm has closed a third fund to invest $850 million in early-stage crypto projects, while Pantera Capital is seeking more than $1 billion for a new “full-spectrum” fund by 2025. .

It's also worth noting that another $1 billion for startups could come from Tether's coffers. Over the next 12 months, the company plans to invest in sectors such as emerging markets, artificial intelligence and biotech. Tether's VC arm has spent about $2 billion over the past two years on technologies like AI and alternative financial infrastructure.

For starters, June's headlines so far include Avail's $43 million funding to address data availability issues on blockchains and Mirror World Labs' $12 million Series A funding that promises to accelerate its Sonic protocol.

This edition of Cointelegraph's VC Roundup features another group of startups that raised capital in the first weeks of June.

Many Energy has secured $2.33 million for Onchain Renewable Energy

Many Energy has raised $2.33 million in pre-seed funding to support its onchain clean energy investment platform. The funding round was led by Necessary Ventures and Compound, with additional participation from Vault Capital and Maven11.

Plural plans to launch its first tokenized investment property in the coming months, a portfolio of solar projects developed by Solaris Energy. The platform allows users to invest in US-based solar farms and earn profits powered by blockchain technology. Plural is said to focus on projects under $100 million. According to the company, more than $4 trillion in clean energy investment by 2030 is needed to meet global climate goals.

Connext rebrands to Everclear, receives $5 million from Pantera Capital

Connext became Everclear and received $5 million from Pantera Capital in a private transaction. The funding will be used to support the proliferation of a decentralized autonomous organization (DAO) and the development of clearing layers, which allow market participants to coordinate the networking and alignment of capital flows between chains. Everclear is already working on the testnet, with the mainnet scheduled for the third quarter of 2024.

The company recently created a secure modular peering protocol powered by Intense, which has recently locked in over $1 billion in gross value and over $500 million in monthly bridge volume.

Ava Protocol raises $10 million for Web 3 automation

Ava Protocol, formerly known as OAK Network, has completed a total of $10 million in seed funding to enhance its Web3 infrastructure. The funding includes an initial $5.5 million round and a subsequent $4.5 million seed round. According to the protocol, it facilitates cross-chain smart contract automation where contracts are executed based on preconditions such as time and price.

The funding will help refine the testnet, expand its capabilities, and further develop the in-house, event-based Eigenlayer AVS. The funding includes Electric Capital, Taisu Ventures, Blockcellrate VC, BingX Exchange and Shima Capital, with earlier contributions from figures such as Sandeep Nailwal and firms such as Greylock, Foundation Capital and GSR. Ava's protocol testnet is being used by more than 10,000 unique wallets, executing more than 1,000 automated transactions every day, the company reported.

OKX Ventures makes a strategic investment in GoPlus security company

OKX Ventures, the investment arm of crypto exchange OKX, has announced its investment in blockchain security firm GoPlus. The company provides automated security services – including smart contract auditing, threat detection and anti-phishing tools – in the decentralized finance (DeFi) space.

The size of the investment was not disclosed, but the capital is expected to accelerate GoPlus' technology development, expand its team, and expand its services to more blockchain networks and decentralized applications.

Radiant Arc has received $9 million in Series B funding led by Bitkraft Ventures

Radiant Arch, an infrastructure-as-a-service (IaaS) provider specializing in cloud gaming and AI, has announced the closing of a Series B funding round, securing $9 million in collateral. The round was led by BitCraft Ventures, with contributions from ADD Ventures, Boston and Saffron. The investment will support Radian Arc's expansion, enhance its IaaS platform and further develop its cloud-based solutions. The company aims to partner with telecommunication companies to provide gaming experiences and AI applications.

Ouinex has paid more than $5 million in token sales.

Crypto and derivatives trading platform Ouinex recently completed its private 2 token sale, raising $1 million from the private community. According to the announcement, the round is part of a series of private financings that brought the company's total funding to $5.2 million. Oynex, which said the last round sold out within hours of launch, said the community currently has 50,000 members. The funds will be used to improve the platform's features and secure regulatory approvals.

Blueberry Protocol Raises $2.5M Series A Led by White Star Capital.

Decentralized prime broker Terminal Blueberry Protocol has raised $2.5 million in strategic funding led by WSC and Varys Capital. Blueberry offers DeFi leverage on Ethereum by incorporating decentralized risk management tools into its framework. According to the protocol, this approach seeks to increase accessibility, increase capital efficiency and improve profitability for DeFi users. Other participants in this investment round include SNZ Capital, White Star Capital, Alchemix DAO, Aquanow, Dewhales Members, DCD Members, GateCap Ventures, Knight Trading and MonkVentures.