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.

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.

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.

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.

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.

Read last week’s column here.