The post Blockchain startups secure $109.3m in funding appeared on BitcoinEthereumNews.com.

This week, the blockchain sector saw 34 startups collectively raising $109.3 million in various funding rounds, from series A to grants. Crypto fundraising for week of 09 – 15, Jun 2024 | Source: Crypto Fundraising The top funding rounds highlight a diverse range of innovative projects pushing the boundaries of web3, privacy, identity, and more. Here’s a breakdown of this week’s biggest fundraising efforts: Nexus Laboratories secures $25m series A round Nexus Laboratories, a web3 startup specializing in zero-knowledge-powered scaling and privacy tools, raised an impressive $25 million in a series A round.  Lightspeed Venture Partners and Pantera Capital co-led the investment, with contributions from Dragonfly Capital, Faction Ventures, and the Blockchain Builders Fund.  This funding follows a previous $2.2 million seed round in 2022 and, according to the company, will be used to support its development of a new zero-knowledge virtual machine called Nexus 1.0. Layer3 raises $15m to change onchain identity New York-based Layer3 raked in the second-highest amount of the week, closing a $15 million series A funding round. ParaFi and Greenfield Capital co-led the effort. Electric Capital and King River also participated in the round. Layer3’s omnichain identity and distribution protocol streamlines user engagement and token distribution across more than 25 blockchains, serving millions of users globally. According to the company, this funding will help it push for further adoption and innovation of its technology in the crypto space. NEAR Foundation spinout Nuffle Labs garners $13m The NEAR Foundation announced the formation of Nuffle Labs, securing $13 million in funding in the process.  The initiative aims to advance NEAR’s modularity and promote decentralized development. The funding includes a grant from the foundation and investments from Electric Capital, Canonical Crypto, Fabric Ventures, and Robot Ventures, among others. Nuff to say, the future is Near! 🤩 We’re thrilled…

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Filed under: News - @ June 16, 2024 4:28 am