Several startups have recently secured significant funding rounds. Avail, a startup that emerged from Polygon, raised $35 million in a round led by Bain Capital Crypto.
The funds are earmarked for the development of its unification and fusion security layers, which aim to enhance modular blockchain scaling and security. This brings Avail’s total funding to $57.5 million, following a $27 million seed round in March 2023 and $5 million pre-seed round.
The company received contributions from various entities, including Galaxy Ventures and Caladan, in this latest funding round, which also included tokens as part of the structure. The Sandbox, another startup, plans to use its raised funds to bolster its creator economy, expand its decentralized mobile metaverse platform, and enhance social features, avatar skills, and 3D editing tools.
The funding will also facilitate the launch of XAU1, a stablecoin pegged to Tether Gold, aimed at enhancing financial inclusion in emerging markets while partnering with Tether. Glacier Labs secured $8 million in seed funding from Foresight X, UOB Venture Management, Laser Digital, KuCoin Ventures, and others.
Mint Blockchain, on the other hand, raised $5 million from Jsquare, SNZ Capital, Antalpha Ventures, and others. The funds are intended for the development of Everclear’s “clearing layer”, aiming to solve liquidity fragmentation for modular blockchains.
Stashh Labs, which secured over $3.3 million from investors like Animoca, 6th Man Ventures, Shima Capital, and Hashkey Capital, is supported by this funding for the launch of Stashh 2.0. Lastly, Halo Wallet raised $3 million from Cyberport, HashKey Capital, IDG Capital, and KuCoin Ventures to expedite its social monetization mission.
Both companies aim to enhance their platforms with new features and expanded support for multiple blockchain ecosystems.