Even with the onset of the crypto winter, 2022 has been a pivotal 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 transactions has declined in recent months, startups at the intersection of blockchain payments, decentralized finance (DeFi) and cybersecurity are still attracting considerable interest from the VC community. The latest edition of VC Roundup highlights some of the most intriguing funding deals from 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 basically a platform that allows game developers to incorporate programmable money, including BTC, into their games. The payment platform is powered by Lightning Network, making ZEBEDEE a “Bitcoin facilitator of choice” for its partners, according to Afonso Campos, managing partner at Kingsway Capital.
So, we all know that the Lightning Network transfers value instantly and keeps growing with over 4K Bitcoin stored on its public channels. But how does he make money?
You asked our 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 beware of a phishing campaign targeting their browser wallets.
DeFi Hashflow Platform Raises $25M in Series A Funding
Hashflow, a decentralized financial trading platform headquartered in San Francisco, closed a $25 million funding round backed by some of the biggest venture capital funds in crypto. The investment round, which involved Jump Crypto, Electric Capital, Dragonfly Capital Partners, and GSR, will help Hashflow expand its product offerings for market markers and institutional traders.
Check out the biggest deals and more VC data from Q1, courtesy of @CointelegraphCS.
— Cointelegraph (@Cointelegraph) June 3, 2022
Socios acquires 24.5% stake in Barca Studios
Fan engagement token platform Socios announced in early August that it would invest $100 million in Barca Studios, the digital content arm of FC Barcelona soccer club. Socios, which is owned by blockchain technology provider Chiliz, will help FC Barcelona accelerate its Web3 and non-fungible token (NFT) engagement strategy. Specifically, Barca Studios is pursuing NFT and metaverse projects that will help the football club engage with its vast global fanbase, and will leverage the Socios blockchain to implement the strategy.
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EtherMail secures seed funding for wallet-to-wallet communications
Web3 messaging solution EtherMail has raised $3 million ahead of the planned launch of its crypto wallet-to-wallet communication service. Scheduled for release in the third quarter, EtherMail enables Web3 companies to send “rich, relevant content directly to their asset owners”, reducing the risk of communication fraud. The service also streamlines community newsletter distribution by enabling self-contained, self-updating mailing lists. The funding round was led by Fabric Ventures and Greenfield One.