Even with the onset of crypto winter, 2022 was a landmark year for venture capital funding. Crypto and blockchain companies collectively raised $30.3 billion in venture capital in the first half of 2022, surpassing all of last year’s totals. While the number of deals has decreased in recent months, startups at the intersection of blockchain payments, decentralized finance (DeFi) and cybersecurity are still attracting significant interest from the VC community. The latest edition of the VC Roundup highlights some of the most interesting funding deals of the past month.
Related: The Risks and Benefits of VCs for Crypto Communities
ZEBEDEE Closes $35M Series B
ZEBEDEE, a Bitcoin (BTC)-powered payment processor for the gaming industry, has raised $35 million from multiple investors including Kingsway Capital, The Raine Group, and Square Enix. ZEBEDEE is essentially a platform that allows game developers to integrate programmable money, including BTC, into their games. The payment platform is powered by the Lightning Network, making ZEBEDEE a “Bitcoin enabler of choice” for its partners, according to Kingsway Capital managing partner Afonso Campos.
So we all know that the Lightning Network transfers value instantly and is constantly growing with more than 4K Bitcoins stored in its public channels. But how does it make money?
You asked the Development Team and here is their answer pic.twitter.com/f3ZMpEFjhW
— ZEBEDEE (@zebedeeio) July 21, 2022
Blockchain Security Company Raises $90M Series A
Blockchain security firm Halborn closed a $90 million funding round in July, led by Summit Partners with additional participation from Castle Island Ventures, Digital Currency Group and Brevan Howard, among others. Halborn was founded in 2019 by ethical hackers offering blockchain security services. The company recently warned MetaMask users to be weary of a phishing campaign targeting their browser wallets.
DeFi platform Hashflow raises $25 million in Series A funding
Hashflow, a San Francisco-based decentralized financial trading platform, has closed a $25 million funding round backed by some of the most prominent crypto venture capital. The investment round, which included Jump Crypto, Electric Capital, Dragonfly Capital Partners and GSR, will help Hashflow expand its product offerings for market indicators and institutional traders.
See the biggest deals and more VC data from Q1, courtesy of @CointelegraphCS.
— Cointelegraph (@Cointelegraph) June 3, 2022
Socios acquires a 24.5% stake in Barca Studios
Fan loyalty token platform Socios announced in early August that it will invest $100 million in Barca Studios, the digital content arm of soccer team FC Barcelona. Socios, owned by blockchain technology provider Chiliz, will help FC Barcelona accelerate its Web3 and nonfungible token (NFT) loyalty strategy. Specifically, Barca Studios is pursuing NFT and metaverse projects that will help the football club connect with its massive global fan base and will rely on Socios blockchain to implement the strategy.
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EtherMail secures seed funding for wallet-to-wallet communications
Web3 email solution EtherMail has raised $3 million ahead of the planned launch of its encrypted wallet-to-wallet communication service. Scheduled to launch in the third quarter, EtherMail allows Web3 companies to send “rich, relevant content directly to their asset owners,” thereby reducing the risk of communication fraud. The service also streamlines the distribution of community newsletters by allowing for self-contained, self-contained mailing lists. The seed round was led by Fabric Ventures and Greenfield One.