Funding Roundup: Crypto Firms in India and Germany Get Venture Capital Funding

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  • 5ire becomes a blockchain unicorn after securing a valuation reaching $1.5 billion following a fundraising
  • Gnosis Safe Goes Safe, Raises $100M in Funding Led by Crypto Fund 1kx

Venture capitalists continue to funnel their funds to crypto startups around the world, marking another week of dollars making their way into the space despite the bear market.

Blockchain startup based in India 5ire secure one $100 million Series A led by investors including Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital – giving it unicorn status as it hit a $1.5 billion valuation.

“5ire plans to aggressively grow in implementing all use cases and provide related services to those who wish to be pioneers in their field using 5ireChain-based solutions” , a 5ire representative told Blockworks.

The company currently has approximately 110 employees and plans to continue to grow its finance, human resources, technology, content, marketing, partnerships and business development teams.

Well-known digital asset management platform Gnosis Vault renamed “Sure” following a community vote and raised $100 million in funding led by early crypto fund 1kx.

The foundation said the money will allow Safe to develop a series of applications and ecosystem tools on its smart contract account protocol.

Safe wasn’t the only company 1kx extended its vaults to this week. The company also led the financing of cross-chain infrastructure protocol Li.Finance.

Elsewhere in Germany — Drop ita Web3 ecosystem development company focused on providing tools for users to read, write and own digital assets, has raised a €3 million ($3 million) seed round co-led by Signature Ventures and Polymorphic Capital.

The startup started as an incubation project within Keyko, a full-stack Web3 products and services company, and aimed to solve data sharing issues with tokenization and smart contract gateways. As it evolved, it became a decentralized digital asset solution with wider applicability.

“We see many startups trying to combine data with blockchains. Nevermined is the first company that understands the complexities and provides real-world solutions at the intersection of data and Web3,” said Juliane Hahn, Managing Director of Signature Ventures, in a statement.

“Going forward, every data-driven company will need to be able to transform their data silos into data ecosystems.”

Going forward, Nevermined CEO Don Gossen told Blockworks that the company plans to focus its efforts on marketing and branding and improve scalability by making its modular services more readily available through different channels.

Other fundraisers last week:

  • Animoca brandsthe Hong Kong-based gaming software and venture capital firm behind The Sandbox, got $75 million to extend its concept of an “open metaverse”. Following the increase, the company is now valued at $5.9 billion.
  • quadrataa startup building a Web3 identity passport, raised a $7.5 million seed round led by Dragonfly Capital Partners.
  • Decentralized sports games Scorefam secured $25 million of the global emerging market via an initial coin offering.

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  • Bessie Liu

    blockages

    Journalist

    Bessie is a New York-based crypto journalist who previously worked as a tech reporter for The Org. She earned her master’s degree in journalism from New York University after working as a management consultant for more than two years. Bessie is from Melbourne, Australia. You can contact Bessie at [email protected]

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