PQShield secures $37 million, whilst Renzo gets $17 million in funding

Enjoyable information in the blockchain planet this 7 days! Over $100 million in venture cash poured into several crypto initiatives and startups.

Let’s acquire a search at the highlights of the funding pursuits amongst June 16 and June 22. The variety of blockchain apps, from gaming to advanced security, is getting considerable curiosity.

Exciting News: PQShield’s Success Tale

Main the pack is safety startup PQShield, securing a significant $37 million in its Series B spherical to bolster its post-quantum cryptography methods. 

Between the investors are Addition, Braavos Capital, Legal & Normal, and Chevron Technological know-how Ventures, marking a significant milestone for PQShield.

PQShield’s revolutionary technologies aims to long term-proof cryptographic units in opposition to potential quantum laptop-based mostly breaches, with marketplace giants like Nvidia and AMD amongst its clients. 

Dr. Ali El Kaafarani, the company’s founder, strategies to make the most of the funding to develop the workforce and fortify partnerships with customers. 

Renzo’s Rise: $17 Million Improve

Renzo, the Ethereum restaking protocol, observed a noteworthy $17 million injection in its sequence A round, led by Galaxy Ventures and Brevan Howard Electronic Nova Fund. Previously seed funding in January extra $3.2 million to the platform’s advancement.

Renzo’s providing of ezETH, a liquid restaking token usable across defi platforms, has received acceptance, with a market capitalization nearing $115 million. The overall price locked stands at about $3.6 billion, showcasing investor self-confidence in the platform’s possible.

Particle Network’s Progress: $15 Million in the Bag

Particle Community, a modular blockchain developer, also made waves, raising $15 million in its series A round with co-leads The Spartan Team and Gumi Ailtras Capital.

Numerous noteworthy buyers joined the funding round, positioning Particle Community for further more growth and progress in the blockchain space.

Founder Pengyu Wang envisions leveraging the capital to bolster chain abstraction know-how and broaden the firm’s operational arrive at.

Sonic’s Results: $12 Million Milestone

Sonic, the Solana layer-2 network tailored for gaming, celebrated a $12 million inflow in its sequence A spherical, spearheaded by Bitkraft Ventures.

The platform’s overall funding now stands at $16 million, enabling Sonic to more its mission of simplifying Website3 gaming complexities and integrating seamlessly with numerous gaming genres.

ZKX’s Victory: $7.6 Million Triumph

ZKX, the social perpetual buying and selling DEX, declared a amazing $7.6 million funding accomplishment, which includes a new $6.3 million seed spherical.

With backing from key investors like Flowdesk, GCR, and DeWhales, ZKX aims to revolutionize perpetual swaps via modern social investing functions and cross-chain interoperability.

The system sets its sights on introducing new characteristics and expanding accessibility to perpetual swaps via cross-chain integration.

On top of that, the native ZKX token is now offered on big exchanges this kind of as Bitget, Gate.io, and KuCoin

Gudchain’s Advancement: $5 Million Surge

Gudchain, an OP-stack-primarily based layer-2 blockchain catering to gamers, secured $5 million in funding, led by Mechanism Funds.

The platform’s eyesight to simplify website3 accessibility for gamers and progress Highstreet Marketplace items is attaining momentum, with strategies to launch 5 flagship online games on-chain inside the up coming 6 months.

Other Remarkable Fundings

Several startups made major strides with scaled-down but impactful funding rounds this week:

  • Zeek, $3 million seed round: The decentralized social collaboration network raised $3 million from investors, including OKX Ventures and Animoca Makes.
  • Wasabi, $3 million in seed funding: The meme coin and NFT leverage trading protocol secured $3 million to enhance its defi offerings with Electric Cash top the expense.
  • Bitwise, $2.5 million seed financial commitment: Bitwise’s Ethereum ETF acquired a $2.5 million seed financial investment from Pantera Cash, setting the phase for further more development.
  • Farworld Labs, $1.75 million pre-seed round: Farcaster-native gaming organization, Farworld Labs, shut a $1.75 million pre-seed spherical to elevate its Farcade system.
  • Ordinox, $1 million in pre-seed funding: The Cosmos-based automatic current market maker for BRC20s and Runes secured $1 million, led by DACM, to gasoline improvement and security audits.

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