The biggest funding round of the week was announced on July 18, when Allium, a blockchain data platform for enterprises, said it had successfully closed a .5 million series A funding round.
Allium, $16.5 million
The week’s VC funding activities kicked off with Bima Labs, which develops Bitcoin-backed stablecoins, announcing the successful completion of a .25 million seed fundraising round.
Other VC firms involved in the round included Hash3, BitGo Ecosystem Fund, Play Ventures, and Third Earth.
Earlier in the year, Nirvana Labs raised .2 million in another funding round, meaning it now has about .7 million in its coffers, funds it says it will use to expand its global connectivity and deepen its product offerings, including web3 cloud monitoring and a managed Kubernetes service.
The culmination of the funding round also saw Tomasz Tunguz, founder of Theory Ventures, join the Allium board.
The company is poised to capture a significant share of the 0 billion stablecoin market, leveraging Bitcoin’s strengths to create a stable and secure financial ecosystem.
Haruko, $6 million
“We are thrilled with the support from our investors, which underscores the confidence in our vision to revolutionize the stablecoin landscape,” said Bima Labs’ CEO following the completion of the funding round.
The platform integrates with established web2 payment systems, providing users with flexible financial solutions and optimized returns through various vaults.
Bima Labs is pioneering the universal stablecoin USBD (Universal Stable Bitcoin Dollar), backed by restaked Bitcoin (BTC) and usable across multiple blockchains.
Portal Ventures led the round with contributions from Draper Goren Blockchain, Sats Ventures, and several prominent angel investors.
PEXX, $4.5 million
In a quiet week for crypto venture capital (VC), Allium, Haruko, PEXX, and Bima Labs were among the blockchain and web3 startups to have secured significant funding.
Haruko declared that it had raised million in a VC funding round co-led by White Star Capital’s Digital Asset Fund and MMC Ventures.
Led by TNB Aura with participation from Antler and EMO Capital, the funding will bolster PEXX’s engineering and product teams and expand its marketing and business development in Southeast Asia.
Nirvana Labs, $4.5 million
To close off the week, blockchain cloud provider Nirvana Labs, announced it had raised million in a seed round co-led by Castle Island Ventures and RW3 Ventures.
Founded in 2021, Haruko has quickly established itself in North America and Europe, serving over 50 institutions.
The company, a digital asset investment management platform, stated that it will use the funds to fuel its strategic expansion into Southeast Asia and to recruit top talent.
PEXX enables cross-border transfers of stablecoins like USDT and USDC to bank accounts worldwide, bridging the gap between the web3 world and traditional finance.
Bima Labs, $2.25 million
The company provides end-to-end solutions for digital assets. Its portfolio and risk management tools aim to enhance the finance industry.
The platform serves companies like Visa, Stripe, and Phantom, offering them tools to manage business reporting, identify growth opportunities, and power applications.
Theory Ventures led the round, with seed investors Kleiner Perkins and Amplify Partners boosting Allium’s total capital to .5 million.
Additionally, in its X post about the funding round, Nirvana Labs said it plans to launch infrastructure with major web3 foundations, including Berachain and the NEAR Protocol.
On July 16, PEXX, a fintech startup specializing in a stablecoin-to-fiat payment platform, announced the completion of a .5 million seed funding round.
Allium has said it plans to use the windfall from the funding round to improve its data infrastructure and scale its go-to-market efforts to address the exponential growth of blockchain data and the complexity of reporting blockchain activity.
