AQUA, Aikon, ACDC, and Others Announce Successful Funding Rounds

Several projects closed successful funding rounds. Among them include Aikon, AQUA, Eclipse, ACDC, and former revolute employees.

Former Revolut Employees Raise Funds to Build a Crypto App

Recent reports show that a few former Revolut employees colluded to raise $3.5 million in a venture round. According to the reports, the round was led by Index Ventures, with participation from CoinFund and FJ Labs.

Reports also show that former Revolut Employees Ayelen Denovitzer and Shailendra Sason founded this project. They have been developing a crypto-friendly investment application Solvo, targeted at simplifying crypto investment tools.

Denovitzer recently said in an interview;

“It’s very hard for people with a lack of technical knowledge to start using these products that are actually better than traditional banking. To be frank, the consumer solutions that are out there are very focused on buying and selling tokens and don’t focus on other aspects of crypto that are super valuable.” 

Aikon Raises $10 Million in Venture Round 

Aikon, a multi-chain onboarding platform, just recently announced the completion of a funding round. According to a recent release, this funding round was led by Morgan Creek Digital with participation from Hestia Investments, Up2 Opportunity Fund, Mighty Capital, Alpha Edison, Yugen Partners, and Think+ Ventures.

When speaking about this funding round, a Venture Partner at MCD, Mr. Stornetta, said;

“We are excited to support AIKON not only because they’ve built real-world blockchain solutions that have the potential to onboard millions of users onto blockchains, but also because they built a unique blockchain and crypto platform that put people first in terms of the ease of use.” 

Aikon plans to accelerate blockchain tech adoption by offering simpler, more secure onboarding solutions. The network plans to add compatibility for the Avalanche blockchain. 

AQUA Raises $10 Million in Funding Round

In a recently closed venture round, AQUA, a web3 game marketplace designed for trading in-game assets, raised $10 million. According to reports, this funding round was backed by Point72 Asset Management, an investment firm owned by Steve Cohen. 

AQUA provides a community-driven marketplace allowing web3 players to buy and sell assets such as weapons and armor. According to reports, the AQUA marketplace intends to highlight featured games with ready partnerships, including Guild of Guardians and God’s Unchained. 

Ryan, the project’s CEO and founder said;

“We want gamers who are interested in, ‘How do I play this game? What do I do with these assets? How do I find other people to play with?… Gaming is going to be the primary venue for the next 300 million people to get into Web3. Gaming is the biggest, fastest-growing media on the planet and has some pretty technically adept folks who can put up with some of the friction that we see right now if they’re really excited about the game.”

Eclipse Raises $15 Million in Seed Round

In recently completed funding rounds, Eclipse raised $15 million. According to reports, the blockchain scaling project Eclipse raised funds in two rounds. In an earlier round, Eclipse raised $6 million and recently completed a second round where they raised $9 million.

The latest $9 million round was co-led by Tabiya and Tribe Capital, with participation from Infinity Soma Capital, Ventures Crypto, Struck Crypto, and CoinList. The earlier funding round of $6 million was led by Polychain Capital, with participation from Galileo, Polygon Ventures, Tribe Capital, Tabiya, The House Fund, and Accel.

Eclipse offers a customizable rollup compatible with several Layer 1 blockchains. Rollups are a branch of Layer-2s designed to help blockchains scale throughput. The platform’s co-founder Neel Somani  said;

“We’re like a universal layer-2. Solana, Sui and Aptos are fast, but they don’t offer enough throughput to enable on-chain anything too computationally intensive, like machine learning.”

ACDC Raises $8 Million in Funding round

Aspen Creek Digital Corporation (ACDC) raised $8 million in a recently completed funding round. According to reports, this round was led by @galaxyhq and @polychaincap. According to sources, ACDC intends to use the new funds for its second Texas-based mining facility. 

This new funding came when the crypto winters hit the Bitcoin mining sector badly, with some miners like Compute North filing for bankruptcy. The company’s CEO Alexandra DaCosta recently said:

“We weren’t the only bitcoin mining company that was looking to raise, but our model was different [than others]. When investors saw the markets reeling from the run up in energy prices, the fall in the price of bitcoin, and how exposed a mining company can be – those dynamics actually made our story go from a PowerPoint to real life.”