Crypto VC funding: Gnosis, HQ lead with $14.95m acquisition; Perpl raises $9.25m
News
The crypto funding market saw $73.2 million in total investments during the week of May 11-17, 2025.
During this period, Gnosis HQ’s $14.95 million M&A deal represented the largest transaction. This week, funding was announced across multiple blockchain ecosystems and verticals, focusing mainly on DeFi, gaming, and ecosystem-specific projects.
Here’s a detailed look at the crypto projects that secured funding this week as per Crypto Fundraising data:
HQ.xyz
- German Web3 infrastructure firm Gnosis has acquired Singapore-based on-chain business account platform HQ.xyz in a strategic deal worth up to $14.95 million.
- The transaction includes an initial investment of up to $8.95 million from the GnosisDAO treasury, which was approved by the community in January.
- Gnosis has also committed $6 million in working capital to support HQ.xyz’s expansion. For our feature on Friederike Ernst, co-founder of Gnosis, click here.
Perpl
- The startup secured $8.25 million in an unknown round
- Lead investors include Dragonfly, Erzonia, and Brevan Howard
KYD Labs
- KYD Labs raised $7.1 million in a Seed round
- The funding was backed by CSX, Finality Capital Partners, and Ambush
Turtle Club
- The company gathered $6.2 million in a Seed round
- Investors include Delphi Digital, SIG, and Consensys
XP (Captain Labs)
- The ticketing platform raised $6.2 million in a Seed round
- XP’s funding was backed by BlockChange, Neon, and Reflexive
Projects < $6 million
- Nirvana Labs, $6 million in a Seed round
- TrendX, $5.2 million in an unknown round
- XSY (Unity), $5 million in a Series A investment
- DoubleUp, $4 million with $40 million fully diluted valuation
- Vinanz, $4 million raised in an unknown round
- Giza: $2.2 million in an unknown round for AI, Ethereum Ecosystem, and Infrastructure; gained +15 new investors
- N1 (ex Layer N), $2 million in public sale
- Puffverse, $700,000 public sale with $70 million fully diluted valuation
