Polygon raises $450m. Aleo raises $200m. Helium raises $200m. Rainbow raises $18m.
Over 1.000 blockchain & crypto startups raised money last year. It's harder than ever to keep up with the space.
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Every Friday we will cover the main funding rounds of the week in crypto and the main news headlines, so you don’t need to sift through mountains of news and noise. We will do it for you.
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Recap of the Week
OpenSea suffers phishing attack
Sequoia Capital is launching a $500m-$600m fund to invest into token deals
Twitter has given users the option to receive tips in Ethereum
El Salvador wants US to leave them alone on Bitcoin
Coinbase, BlockFi, Kraken team up on Anti-Money laundering initiative
Ukraine passes vote on bill to legalize Bitcoin
Colorado residents can now pay their taxes in crypto
EU to propose digital euro bill in early 2023
JP Morgan Moves Into the Metaverse
Latest Funding Rounds in Crypto
🔹 Polygon raises $450M in Series A · Founded in 2017 · India
Polygon is the leading platform for Ethereum scaling and infrastructure development.
Polygon will use the funding to expand its scaling solutions, which includes Polygon PoS, Polygon Edge and Polygon Avail, and support mainstream adoption of Web3 applications.
Round led by Sequoia Capital and with participation from more than 40 VCs
🔹 Aleo raises $200M in Series B · Founded in 2019 · US
Aleo is building a network that integrates zero-knowledge proofs, a cryptography technique that lets the platform become scalable, private and interoperable.
Aleo will use the funds to support developers in building applications within its private and scalable platform.
Round led by Kora Management and SoftBank with participation from Samsung Next, Tiger Global, Sea Capital, Slow Ventures and Andreessen Horowitz
🔹 Tribal Credit raises $60M in Series B · Founded in 2016 · US
Tribal Credit is a crypto-focused enterprise payment platform.
Tribal said it will use the cash injection to fund its operations across the Latin America region, including building local teams in Brazil, Mexico, Colombia, Peru and Chile.
Round led by SoftBank Latin America with Coinbase Ventures, BECO Capital, QED Investors and Rising Tide.
🔹 MediLedger raises $8.3M in Series A · Founded in 2017 · US
MediLedger brings together expertise in both Pharmaceutical Supply Chain and Blockchain technologies.
The MediLedger Project is building an industry-owned permissioned blockchain network for the pharmaceutical sector based on open standards and specifications. Network nodes are set to be distributed among and operated by industry participants and technology providers who serve the industry.
Led by True Global Ventures 4 Plus
🔹 Helium raises $200M in series D · Founded in 2013 · US
Helium is a decentralized network of hotspots that provides bandwidth for and collects data from nearby internet-of-things devices.
Hotspot owners receive Helium tokens, called HNT, for their efforts. The more a hotspot is used, the more HNT an owner gets.
The company previously raised around $110 million in VC funding plus $111 million last summer via a token sale led by Andreessen Horowitz.
🔹 Rainbow raises $18M in series A
Rainbow Wallet is a mobile Ethereum wallet for IOS and Android. It allows users to buy crypto with fiat, connect to decentralized applications (dApps) and invest in tokens.
With the new funds, Rainbow plans to further build out its features including integration of a swap aggregator to ensure users are getting the most cost-effective swaps.
The round is led by Reddit co-founder Alexis Ohanian.