CGV Research Vane | Weekly report on global crypto market investment and funding developments(1/30/2023 — — 2/5/2023)

The crypto-asset market is off to an impressive start in 2023, with January on-chain metrics already showing greater growth and activity. Looking at last week’s statistics (8 projects in total), DeFi (2) project pitches are starting to recover, NFT (1) and Game (2) projects still have a lower number of financings compared to the previous quarter, and Web3 infrastructure projects (3) are the main direction of financing. CGV summarizes a week’s worth of noteworthy investment and funding information for the crypto market, as follows for the global crypto market from January 30, 2023 to February 5, 2023.


1.BlockJoy | Raised $12 million|Gradient Ventures and others participated

On February 3, BlockJoy, a blockchain node-as-a-service startup, announced that it has closed a total of $12 million in seed and Series A funding with participation from Gradient Ventures, Draper Dragon, Active Capital, Borderless Capital, Tribe Capital, Bessemer, Renegade Ventures and others.

2. Sumi Network | Raised $3 million|Led by Scytale

On February 2, Sumi Network, a decentralized storage solution, closed a $3 million round of funding at a $30 million valuation led by Scytale with participation from Fuse, D1 Ventures, DFG and TRGC.

3. Sec3 | Raised $10 million in a seed round|Led by Multicoin Capital

On January 31, Sec3, a blockchain security company, closed a $10 million seed round led by Multicoin Capital, with participation from Sanctor Capital and Essence VC, and individual investors including former ParaFi Capital partner Santiago Santos and Solana co-founder Anatoly Yakovenko.


4. Fungify | Raised $6 million|Led by CitizenX

On February 2, Fungify, a non-hosted NFT indexing and algorithmic lending protocol, closed $6 million in funding led by CitizenX with participation from Distributed Global, Infinity Ventures Crypto, Taureon Capital, Anagram, Flow Ventures and others.


5. My NFT Wars | Raised $2 million|Led by Social Discovery Group

On February 4, My NFT Wars, a Web3 metaverse game, announced the completion of a $2 million private funding round led by Social Discovery Group, with participation from Nika Tech Family, Blackshield Capital and others.

6. MYSTiC GAMES | Raised $1.3 million|Led by Shima Capital

On February 2, blockchain gaming company MYSTiC GAMES announced that it has closed a new funding round of $1.3 million led by Shima Capital.


7. Archimedes | Seed round funding of $4.9 million|Led by Hack VC

On February 2, Archimedes, a DeFi lending platform, announced the closing of a $4.9 million seed round led by Hack VC with participation from Unassociated Venture, Psalion, Truffle Ventures, Cogitent Ventures, Haven VC and Palsar.

8. Squid | Raised $3.5 million|Led by North Island Ventures

On February 1, Squid, a DeFi mobility protocol, announced the closing of a $3.5 million funding round led by North Island Ventures with participation from Distributed Global, Fabric Ventures, Galileo, Chapter One, and Node Capital.

About Cryptogram Venture (CGV):* CGVCGV FoFCryptogram Venture (CGV) is a Japan-based research and investment institution engaged in crypto.With the business philosophy of “research-driven investment”, it has participated in early investments in FTX, Republic, CasperLabs, AlchemyPay, Graph, Bitkeep, Pocket, and Powerpool, as well as the Japanese government-regulated yen stablecoin JPYW, etc. Meanwhile, CGV FoF is the limited partner of Huobi venture, Rocktree capital, Kirin fund, etc.From July to October 2022, it launched the first TWSH in Japan, which was jointly supported by the Ministry of Education, Culture, Sports, Science and Technology (MEXT), Keio University, SONY, SoftBank, and other institutions and experts. Currently, CGV has branches in Singapore, Canada, and China. and China.*

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