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KuCoin raised $150 M Series B, a16z and Pradigm are really active

This is "Fundraising Spotlight" series, which aims to give you an overview of the 10 biggest investment deals in the past week with basic information and development goals of the projects.

hieunguyen

Published May 15 2022

Updated Oct 04 2023

8 min read

Overview of investment & funding activities in W19/2022

In the TOP 10 most famous investments & sponsorship deals in the past week, we have:

5 projects on metaverse, Web 3 Gaming: MechaFightClub, LootRush, Cometh, StarryNift, InfiniGods
2 projects about NFT: Zora, Co:Create
1 CEX: KuCoin
2 projects in other fields: Cassava Network, Jambo

Projects with Tokens

Projects already have Tokens and still receive additional investments proves that they have new products, new segments, and need more money to develop. This news will greatly affect the nature and price of the tokens, so please refer to it for more investment perspectives.

Cassava Network (CSV) raised $8 M

What is Cassava Network?

Cassava is a protocol that specializes in developing reward tokens for users, which is considered a breakthrough protocol and has the ability to change the perception of African users. Cassava combines the security of blockchain technology with an innovative reward system powered by a decentralized financial market, to create a dedicated ecosystem of rewards for users and developers.

Famous Venture Capitals participating in the funding round:

Arcanum Capital: A seed stage investment fund. This fund focuses on funding seed projects in the blockchain market. This is a newly established investment fund but has had 41 investments, such as Arcana Network, Indi GG or Kudo Money.
Coin98 Ventures: Coin98's venture capital arm.

Goals after the funding round: Funds will be used for the next milestones of Cassava. The immediate future will be to develop the NFT project and get ready for the upcoming NFT launch. At the same time, Cassava will continue to look for more potential partners in the same field.

Projects without tokens

Projects that do not have Tokens and are invested in may be able to develop and build their basic foundations.

For the project itself, the supporters in this phase are very meaningful to them, so the list below may not help you in investing, but it helps in choosing potential projects to learn about. You can look for opportunities such as participating in Testnets, IDOs,...

KuCoin raised $150 M Series B

What is KuCoin?

KuCoin exchange is a centralized exchange established in 2014. This is one of the representative CEX from the country of billions of people - China, next to Binance and Huobi. Therefore, with other exchanges, Kucoin also has full features from Spot, derivatives, to many different kinds such as lottery, Staking,...

Famous Venture Capitals participating in the funding round:

Jump Crypto: The crypto-market investment arm of Jump Trading Group. Jump Trading Group is a long-standing investment company, with more than 700 employees in many territories such as the US, China, UK, Singapore,...
Circle Ventures: The venture arm of Circle, the creator of the MetaMask wallet and stablecoin USDC.

Goals after the funding round: KuCoin will use the raised capital to expand and develop the product. Bring more new projects in different fields to the KuCoin ecosystem through KuCoin Labs or KuCoin Ventures.

Zora raised $50 M

What is Zora?

Zora is an NFT exchange, a place to buy, sell, exchange and create NFTs. Unlike other NFT exchanges, Zora has the infrastructure for users to create NFTs, or even an entire NFT Collection. Zora is the place where historic auctions in the NFT market occurred such as Doge NFT ($4 M), TikTok NFT ($6 M).

Famous Venture Capitals participating in the funding round:

Haun Ventures: Venture capital fund, founded by Kathryn Haun. She is the founder of Haun Ventures, on the board of Coinbase, OpenSea, autograph, previously taught business at Stanford University and worked as a General Partner at a16z.
Coinbase Ventures: The investment arm of the cryptocurrency exchange Coinbase.

Goals after the funding round: The capital will be used to build and develop the infrastructure for its NFT exchange. Zora is expected to launch ZoraDAO soon.

Irreverent Labs - MechaFightClub raised $40 M in Series A.

What are Irreverent Labs and MechaFightClub?

Irreverent Labs is a research and development lab in the blockchain gaming field. With a professional team and background from big technology companies. Currently Irreverent Labs is developing a game called MechaFightClub. This is a fighting game, each Mechabot will be a different NFT.

Famous Venture Capitals participating in the funding round:

Andreessen Horowitz (a16z): An investment fund founded in 2009 by Marc Andreessen and Ben Horowitz. This is an investment fund operating in Silicon Valley, California and focuses on investing in technology startups, the Fund is also a well-known market maker.
Solana Ventures: Solana's venture capital arm.
The Chainsmokers: A famous band with 2 members, composing a series of hit songs like Closer, Paris,...

Goals after the funding round: The capital will be used by Irreverent Labs to develop and perfect the game MechaFightClub.

Jambo raised $30 M in Series A

What is Jambo?

Jambo is a Web 3.0 Super-App specifically for Africans. An application created with the aim of popularizing Web 3.0 to the people of Africa, Jambo also serves as a bridge between the continents. Currently, Jambo has been present in 15 countries in the territory of Africa. Over the past week, Jambo has announced a successful $30 M fund in a Series A round.

Famous Venture Capitals participating in the funding round:

Paradigm: An investment fund focused on supporting cryptocurrency projects, founded by Fred Ehrsam and Matt Huang. The fund's investment method is flexible, long-term investment, multi-stage investment.
Pantera Capital: A popular investment fund led by Dan Morehead, Pantera has invested in more than 80 large and small blockchain companies and 65 seed stage projects.

Goals after the funding round: With the new capital raised from the Series A round. Jambo is expected to double its human resources in Africa. Expand the project to more than 15 other cities, with the goal of reaching 200K users. At the same time, the capital will also be used to recruit professional developers for Jambo.

Co:Create raised $25 M in seed round

What is Co:Create?

Co:Create is a toolkit for NFT. Co:Create provides the necessary infrastructure and tools for developers to unlock more potential for NFT. Especially the PFP NFTs, (normal PNG). Co:Create can turn them into a project with governance tokens, DAOs or more, similar to Yuga Labs' APE COIN.

Famous Venture Capitals participating in the funding round:

Andreessen Horowitz (a16z): An investment fund founded in 2009 by Marc Andreessen and Ben Horowitz. This is an investment fund operating in Silicon Valley, California and focusing on investing in technology startups, the Fund is also a well-known market maker.
Amy Wu: CEO of FTX Ventures.
RTFKT: A famous NFT project, which cooperated with many big names like Nike, Murakami or Epic Games.

Goals after the funding round:: Currently, the new Co:Create is in the seed stage. The capital will be used for Co:Create to continue building and developing products.

LootRush raised $12 M in seed round

What is LootRush?

LootRush is a platform that connects blockchain games on the market. This is the first platform that has eliminated the barriers between Web 3 Gaming and users. LootRush helps users to skip unnecessary waiting time when connecting to any game. It can be said that LootRush is quite similar to the Steam Client in traditional gaming.

Famous Venture Capitals participating in the funding round:

Andreessen Horowitz (a16z): An investment fund founded in 2009 by Marc Andreessen and Ben Horowitz. This is an investment fund operating in Silicon Valley, California and focuses on investing in technology startups. The Fund is also a well-known market maker.
Paradigm: An investment fund focused on supporting cryptocurrency projects, founded by Fred Ehrsam and Matt Huang. The fund's investment method is flexible, long-term and multi-stage investment.

Goals after the funding round: The capital will be used to develop and perfect the infrastructure for LootRush, providing users with the most complete and time-saving Web 3 Gaming platform.

Cometh raised $10 M

What is Cometh?

Cometh is a play-to-earn trading card game, inspired by the fantasy universe with warships in the form of NFT. Players will compete solo against each other using the power of cards. These cards will be collected through completing tasks in the game, or trading and exchanging with other players. Over the past week, Cometh successfully raised $10 M.

Famous Venture Capitals participating in the funding round:

White Star Capital : A global, technology-focused investment firm with a strong and multi-racial staff. Founded by Eric Martineau-Fortin and Jean-Francois Marcoux, two Canadian entrepreneurs.
Shima Capital: An investment fund founded by Yida Gao, a young trader who has made it to the top of Forbes Under 30 2020. The fund focuses on investing and supporting projects in the blockchain field with nearly 90 capital investments.

Goals after the funding round: The capital will be used to continue building and developing Cometh. In the near future, Cometh will have cooperation with some big names in blockchain gaming sectors.

StarryNift raised $10 M in Series A

What is StarryNift?

StarryNift is a gaming ecosystem, metaverse, NFT... The main product of StarryNift is the NFT game, whose gameplay is quite similar to the famous Pokemon game. NFTs will be bought and sold directly on StarryNift's NFT Marketplace. In addition, this project also has a virtual universe called Starryverse. This will be where players display NFTs and participate in other virtual reality events.

Famous Venture Capitals participating in the funding round:

Susquehanna: A privately held commercial and technology company. The SIG is composed of a number of affiliated entities that trade and invest exclusively in equities, fixed income, energy, commodities, indices and derivatives, private equity and venture capital. insurance, research, client dealing and institutional selling.
Binance Labs: The investment and research arm of the Binance exchange.

Goals after the funding round: The capital will be used for the upcoming launching event of Starryverse.

InfiniGods raised $9 M seed round

What is InfiniGods?

InfiniGods is a blockchain gaming project. Founded by veteran gamers in traditional gaming. InfiniGods will develop its games around the theme of ancient empires, like Egypt or Rome., with attractive, new game modes and full of modes such as puzzles, strategy and even city building.

Famous Venture Capitals participating in the funding round:

Pantera Capital: A popular investment fund led by Dan Morehead, Pantera has invested in more than 80 large and small blockchain companies and 65 seed stage projects.
Animoca Brands: The leader in the blockchain gaming market. As a publisher for big, familiar games on blockchain such as REVV Racing, The Sandbox. Animoca Brands also regularly pours large capital into blockchain entertainment startups.

Goals after the funding round: The capital will be used for InfiniGods to build and develop new games and launch to the market. It is expected that InfiniGods will complete 3 NFT games this 2022.

Conclusion

This is the end of the TOP 10 most outstanding investment deals in the past week. Hopefully, through this article, you will have an overview of the projects that have raised capital during the week.