VC Roundup: 8-figure funding deals suggest crypto bull market far from over

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Venture superior backing continued to determination into the blockchain and cryptocurrency manufacture successful March, adjacent arsenic marketplace commentators sensationalized the extremity of the bull market amid Bitcoin’s 30% retracement.

VC flows are considered a captious motion for the blockchain industry, with higher woody enactment indicative of beardown capitalist appetite and increasing innovation successful the space.

As Cointelegraph reported, blockchain startups raised a combined $1.1 billion successful February alone, with projects spanning decentralized finance, decentralized carnal infrastructure networks and payments attracting the lion’s stock of superior flows.

Early signs suggest that March was arguably a stronger period for crypto VC deals, arsenic evidenced by the increasing size of the concern rounds and the fig of investors participating.

Eight deals are featured successful this month’s VC Roundup — and 7 of them were valued successful the eight-figure range.

Across Protocol raises $41M via token sale

Across Protocol, an Ethereum crosschain interoperability platform, raised $41 cardinal successful a token merchantability that was led by San Francisco-based task steadfast Paradigm. Coinbase Ventures, Bain Capital Crypto and Multicoin Capital besides participated successful the token merchantability round.

Across Protocol is expanding Ethereum layer-2 connectivity done alleged “intents,” an architecture attack that decouples plus transfers and connection verification.

“The urgent tasks — moving assets and fulfilling the intent — are carried retired instantly by a relayer [...] portion the time-consuming connection verification is done afterward,” wrote Aiden Park, an technologist and method writer, successful an explanatory enactment connected intents.

“This attack enables Across to nonstop messages cheaply, quickly, and securely, mounting it isolated from different message-passing protocols,” helium said.

Ribbit Capital leads $23.6M Crossmint raise

Enterprise Web3 institution Crossmint has closed a $23.6 cardinal backing circular to standard its onchain onboarding technology, which is designed to assistance companies and AI agents clasp Web3 without needing blockchain expertise. The backing circular was led by San Francisco-based task steadfast Ribbit Capital.

According to Crossmint co-founder Rodri Fernandez, the level provides low-code APIs for a assortment of blockchain functions, including wallets, stablecoins, tokenization and credentials. The announcement besides claimed that much than 40,000 companies and developers are present utilizing Crossmint crossed much than 40 blockchains.

Financial app Abound gets backing from Near Foundation, Circle Ventures

New York-based remittance app Abound has closed a $14 cardinal backing circular led by Near Foundation, with information from Circle Ventures.

The Abound app has been designed to span the remittance spread betwixt India and its immense diaspora of citizens successful the United States. The app claims to person processed much than $150 cardinal successful remittances.

Abound was developed by the Times of India Group, a Mumbai-based media company.

Although it’s not wholly wide however blockchain exertion and integer assets origin into Abound’s work offerings, if astatine all, information from Near and Circle Ventures suggests that blockchain-focused companies are progressively focused connected cross-border payments and remittance services.

Chronicle closes effect round

Chronicle, an Ethereum Oracle and tokenization infrastructure provider, raised $12 cardinal successful effect backing led by Strobe Ventures, formerly known arsenic BlockTower Venture Capital. Additional investors included Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital, Fenbushi Capital, Gnosis Ventures, 6th Man Ventures and respective angel investors.

Chronicle connects protocol developers to real-time information feeds, which are indispensable for DeFi and real-world plus (RWA) tokenization ecosystems. The institution cited increasing organization involvement successful RWA tokenization arsenic 1 of the reasons for its aboriginal occurrence successful raising capital.

DeFi-yielding stablecoin Level debuts with $2.6M successful funding

In March, blockchain developer Peregrin Exploration debuted the Level USD stablecoin with $2.6 cardinal successful backing from Dragonfly Capital, Polychain, Flowdesk and others.

Level USD is simply a yield-bearing stablecoin that issues integer dollars collateralized by restaked stablecoins. The stablecoin’s marketplace capitalization has grown importantly since its launch, reaching $116 cardinal astatine the clip of writing.

Level USD is integrated with respective DeFi protocols, including Pendle, LayerZero and Specta. It tin besides beryllium utilized arsenic collateral connected noncustodial lending level Morpho.

Halliday raises $20M for Agentic Workflow Protocol

No-code blockchain developer Halliday has closed a $20 cardinal Series A backing circular to standard its Agentic Workflow Protocol (AWP) — an AI instrumentality that helps developers physique DeFi applications without the request to constitute astute contracts.

The backing circular was led by a16z Crypto, with further information from SV Angel, the Avalanche Blizzard Fund, Credibly Neutral, Alt Layer and different angel investors.

Through AWP, blockchain companies tin “build applications successful hours, not years,” Halliday said successful its announcement. Halliday’s programming exemplary handles each the method aspects of blockchain improvement and execution, which tin theoretically alteration companies to standard their products faster.

AI-driven Validation Cloud closes $15M Series A

Validation Cloud, a institution astatine the intersection of artificial quality and blockchain infrastructure, has closed a $15 cardinal Series A concern circular backed by True Global Ventures. Additional investors see Cadenza, Blockchain Founders Fund, Bloccelerate and others.

The backing volition beryllium utilized to grow Validation Cloud’s Web3 infrastructure solutions, including staking, node API and information offerings.

Validation Cloud provides entree to blockchain information and offers node and staking solutions to institutions. Its exertion is utilized by Hedera, Aptos, Stellar, EigenLayer, Polygon and others.

Skytale Digital debuts $20M Polkadot Ecosystem Fund

Blockchain concern steadfast Skytale Digital has launched the Polkadot Ecosystem Fund, earmarking $20 cardinal to further make the alleged “network of networks.”

The money combines fiscal support, method expertise and mentorship to assistance Web3 developers grow their merchandise offerings successful the Polkadot ecosystem. Specifically, the money is targeting decentralized applications and captious infrastructure projects.