Crypto VC funding: Ithaca leads week with $20m, Delta bags $11m

Ithaca and Delta are the top two firms with the highest fundraising for the week, data shows.

Held against last week’s modest fundraising, crypto VC funding has seen an uptick in the number and volume of funds raised this week.

This resembles the overall trend in early 2024, where VC crypto funding has been surging and sustained throughout the year. Data from Crypto Koryo shows that the total investment and the number of investments have surged in comparison to the last quarter of 2023.

Crypto.news compiled the data from Oct. 6 to Oct. 12 from Crypto Fundraising. Here’s this week’s top crypto VC funding data.

Ithaca, $20 million

• Ithaca is a project focused on expanding decentralized technology by the creation of an open-source developer tool stack.
• The firm raised $20 million from Paradigm recently.

Delta, $11 million

• Delta is a permissionless network that allows for efficient interoperability between member domains.
• The company raised $11 million from investors like Variant, DBA and Figment Capital.

Introducing delta, a network of networks with shared state

delta is an integrated system, built from the ground up to break the trade-off between sovereignty and interoperability for developers

We’re thrilled to announce $11M in funding to realize this vision pic.twitter.com/dUdkeEYhjX

— delta (@deltadotnetwork) October 9, 2024

Humanode, $10 million

• Humanode is a crypto-biometric network that has introduced Sybil resistance and governance models.
• The network has raised over $22.76 million so far.
• The latest $10 million raised was from investors like Republic Crypto and Big Brain Holdings.

Catacomb Crawlers, a mobile roguelike survival, is launching as the first Sybil-resistant game under Humanode incubation.

Developed by Emeroth Studio, the team that worked on League of Legends, Valorant, Heroes of Newerth, and Final Fantasy, the game attracted 240K+ downloads… pic.twitter.com/KHDfeKRwaq

— Humanode (@humanode_io) October 7, 2024

The Open Network, $10 million

• The Open Network (TON) is a layer 1 blockchain created by Telegram.
• TON has raised $58 million since its inception.
• The firm raised $10 million, with Gate Venture leading the investment.

🚀 https://t.co/8kWqgEeplL Invests $10 Million in TON Blockchain 🚀

✅ Strategic investment to accelerate Telegram-based projects and expand the TON ecosystem
✅ Launching a CeFi-driven Telegram mini-app and Gate Wallet within Telegram
✅ Gate Group Supports TON Society’s… pic.twitter.com/238aog63Sh

— Gate.io (@gate_io) October 8, 2024

PiP World, $10 million

• PiP World is a gamified platform that was created to promote financial trading and learning.
• The firm recently raised $10 million in a seed round led by Exinity.

Big  milestone for @PiPWorld! 🦾

Our $10M seed round, featured by @TheBlock__, is just the beginning of our journey to redefine financial literacy through Web3 innovation. 🚀🔥

Check it out: https://t.co/lNejgWPhoO#GameFi #Crypto #Fintech #Web3

— PiP World (@ThePiPWorld) October 11, 2024

Crypto VC funding rounds < $10 million

• Bitlayer: The firm raised $9 million in a Series A led by Polychain Capitak, Franklin Templeton, SCB Limited, etc.
• Dragonz Land: The play-to-earn game raised $9 million from Syndicate Capital.
• OpenGradient: The decentralized platform for AI models raised $8.50 million in a seed round.
• Yala: The DeFi protocol raised $8 million in a seed round led by Polychain Capital, Ethereal Ventures.
• Kiva Ai: The company raised $7 million in a pre-seed round led by CoinFund.
• Apex Fusion: In a seed round, the firm raised $6 million from TRGC.
• Semantic Layer: In a seed round led by Figment Capital, the firm raised $3 million.
• APRO: The Oracle solution platform has raised $3 million in a seed round led by Polychain Capital, Abcde Capital, Franklin Templeton.
• Trendies: The social platform raised $1.75 million in a pre-seed round led by Archetype.
• Fission Labs: Fission Labs raised $1.60 million in a pre-seed round led by Salt Find, Kraynos Capital, Anthony Scaramucci.
• ZAP: The distribution protocol raised $150.01k in a public sale led by individual investors.
• Firms like TSFC and Bison Swap also raised undisclosed amounts during the last seven days.

For last week’s column, click here.