Crypto VC funding: SecondLive bags $12m, RD Technologies raises $7.8m

SecondLive and RD Technologies are the top two startups with the largest volume of fundraising for the week, the latest data shows.

While the amount of disclosed venture rounds this week was comparatively less than what was announced in recent weeks, crypto venture capital activity for the year is on pace to dethrone 2023’s total of $2.6 billion, according to PitchBook.

Some $2.2 billion had been raised as of July 30. The amount, raised across 24 funds, is still far behind 2022’s total of $22.7 billion.

Crypto.news compiled the data from Sept. 29 to Oct. 5 from Crypto Fundraising. Here’s what we found.

SecondLive, $12 million

• SecondLive is a metaverse platform that lets users create their own avatars.
• The firm has raised a total of $15 million so far.
• The latest $12 million raised was in a private round led by Crypto.com.

🚀 Exciting news! We’ve successfully raised $12 million in a private funding round led by @cryptocom! Joined by key investors like @capital_spark, @cypher_capital, @metaestate_com, @Taisu_Ventures, @NewTribeCap, @BitValueCapital, @Titans_ventures, @NewaveCapital, CSP DAO and… pic.twitter.com/ShZXhpjxJk

— SecondLive (@SecondLiveReal) September 30, 2024

RD Technologies, $7.8 million

• RD Technologies is a fintech firm that has a primary focus on payments and commerce.
• The firm has raised $7.8 million in a Series A round led by HongShan, HIVEMIND and Aptos Labs.

🚀Exciting news!

RD Technologies has successfully completed its Series A1 financing, securing US$7.8 million! In this funding round, RD Technologies has secured strategic investments from prominent industry players like HongShan, @HivemindCap, @AptosLabs, Hash Global, SNZ… pic.twitter.com/U8pTPtqQyu

— RD Technologies (@RD_Technologies) September 30, 2024

LAYER, $6 million

• LAYER is an Ethereum (ETH) scaling solution that allows developers to write blockchain applications in various languages.
• The firm recently raised $6 million in a seed funding round, which was led by 1Kx.

Layer Secures $6 Million Seed Funding to Expand Ethereum Layer Capabilities with New SDK https://t.co/XRNY7gGJdk

— EN.COINOTAG.COM (@encoinotagcom) October 3, 2024

Synnax Technologies, $1.55 million

• Synnax is a platform that introduced AI credit intelligence for privacy-focused credit analysis.
• The firm has raised a total of $2.55 million so far.
• The latest fund raised was $1.55 million in a round led by WINTERMUTE and Ton Ventures.

🚀 Big News! 🚀

We’re excited to announce that #Synnax has secured strategic investment from Wintermute Ventures & TON Ventures, bringing our total funding to $1.55M! 💰

Read more: https://t.co/zV3PKryTWG@wintermute_t @wmt_ventures @TON_Ventures #Synnax #SYNQUEST $SYNAI pic.twitter.com/jnZtf1uBug

— Synnax Technologies (@SynnaxTech) October 3, 2024

Sophon, not disclosed yet

• Sophon provides an architecture for seamless handling of applications like gaming and socialfi.
• The firm has raised a total of $70 million so far.
• The latest amount invested by Binance Labs hasn’t been disclosed yet.

Every alliance paves the way to new horizons.@BinanceLabs invests in Sophon.

(((+))) pic.twitter.com/T1T8iD4HMX

— sophon (@sophon) October 3, 2024

Read last week’s column here.