Crypto VC Roundup - Bridge Secures $58M, Edge Matrix Chain Raises $20M

According to the most recent venture capital report from London-based analytics company GlobalData, the overall amount of venture capital investment awarded to U.S. Businesses between January and July increased by 2.4% on an annual basis, but the number of venture capital deals dropped by 41%. The United States leads the world in funding value and deal count in venture capital (VC) notwithstanding this.

Venture rounds in the cryptocurrency space seldom surpass $100 million. Notable exceptions this year, though, are Farcaster. Which received $150 million in a series A round, and Berachain, which raised $100 million. With over $141 million raised between August 25 and August 31, cryptocurrency businesses continue to draw considerable investment despite the difficult climate.

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Bridge Raises $58M

The $58 million investment round for Bridge, a global stablecoin payment network, includes $40 million in new cash. Index, Ribbit, and Sequoia are among the backers.

Coinbase and SpaceX are among the clients of the business, which was co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu.

Edge Matrix Chain Secures $20M

With a focus on multi-chain AI infrastructure, Edge Matrix Chain raised $20 million in a funding round headed by Amber Group and Polygon Venture.

The money will go toward creating a Layer 1 blockchain and launching a brand-new DeFi asset class supported by tokenized GPU resources from the real world.

Space and Time (SxT) Raises $20M

In a Series A investment led by Lightspeed Faction, Framework Ventures, Cypher Capital, and others, Space and Time (SxT) raised $20 million. The business has raised $50 million in total and offers index data for the Ethereum, Polygon, and Bitcoin ecosystems.

Solayer Labs Gets $12M

Polychain Capital led the $12 million seed investment round for Solayer Labs. The startup is working with Big Brain Holdings, Hack VC, and other partners to develop a Solana restaking protocol.

Gameplay Galaxy Raises $11.17M

A number of unknown investors contributed $11.17 million to Gameplay Galaxy, a Web3 video game studio, in a seed extension round co-led by Blockchain Capital and Merit Circle.

Myco io Secures $10M

In the first close of its Series A round, the UAE-based Web3 streaming platform Myco raised $10 million from 88 authorized investors through Republic.com, Daman Investments, and Aptos Labs.

Double Jump Tokyo Secures $10M

Double Jump is a Japanese Web3 game developer.SBI Investment sponsored a $10 million Series D financing for Tokyo. Taisu Ventures, Sony Group, and additional parties were involved.

Additional Funding Rounds

Quai Network: $5 million
OneBalance: $5 million
Chainbound: $4.6 million
SnakeLite: $4 million
Nectar AI: $3.9 million
Level Protocol: $3.6 million
Echelon Market: $3.5 million
Time Fun: $3 million
Verofax: $3 million
Kredete: $2.25 million
Legion: $2 million
Origami Finance: $1.5 million

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