This week, VC firms funded 10 more projects compared to last week. The crypto infrastructure secured a $37 million series A round, with participation from Robot Ventures, Credibly Neutral, Coinbase Ventures, Bankless Ventures, and several angel investors.
Conduit, the recipient of the funding, plans to develop customizable blockchain-based products, such as rollups, and make on-chain computing more accessible for blockchain innovators. On June 27, MegaLabs announced a fresh capital injection to accelerate the development of its MegaETH protocol and launch a testnet in the coming months.
Polychain, HF0, and Hashkey Capital were among the participating investors. Ora, another recipient of funding, aims to use the funds to develop its technology and infrastructure for tokenizing AI models and bringing decentralized AI to the Ethereum ecosystem.
Their optimistic machine learning technology and concept of “initial model offering” (IMO) are central to their innovation. Illuminate Financial and DRW Venture Capital led the $12 million series A round, which also attracted strategic investors Flow Traders and Wintermute, as well as retail brokers Exness, Gate.io, and Think Markets.
Crossover Markets, known for its execution-only electronic communication network, CROSSx, reported significant trading activity and plans to use the new funding to continue investing in its team and technology to solidify its market position. The funding round also received support from prominent crypto figures like Dingaling and Grail, reflecting their endorsement of Redacted’s vision for a more engaging and rewarding user experience.
Reducted, another project receiving funding, plans to develop an ecosystem offering entertainment and gamification products powered by the RDAC token. The round was led by Bain Capital Crypto and Spark Capital, with additional support from Ethereal Ventures, Robot Ventures, and Mischief Capital, and angel investor Sarah Meyohas.
Covalent, a platform aiming to simplify the transfer of startup equity into Roth IRAs, secured funding to expand its operations across Asia in support of blockchain and AI innovations in the region, with participants including Alumni Ventures, One Piece Labs, and CoinSummer Labs. SoSoValue, a platform providing AI-driven data services to empower investors, plans to use the funds to expand its global researcher community, having attracted over 1.2 million organic registered users in just five months since its launch.