Funding Roundup: Crypto Companies in India, Germany Secure VC Funds

Venture capital firms continue to spread their money to crypto startups around the world, marking another week of dollars finding their way into space despite the bear market.

India-based blockchain startup 5ire secured one $ 100 million in Series A. led by investors including Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital – giving it unicorn status when it reached $ 1.5 billion.

“5ire plans to aggressively grow to implement the set of use cases and offer related services to those willing to pioneer in their business using 5ireChain-based solutions,” a 5ire representative told Blockworks.

The company currently has an estimated 110 employees and plans to continue to expand its financial, human resources, technology, content, marketing, partnerships and business development teams.

Well-known digital asset management platform Gnosis safely rebranded as “Secure“After a joint vote and raised $ 100 million in funding led by early phase crypto fund 1kx.

The foundation said that the cash will allow Safe to develop a number of ecosystem applications and tools on its smart contract account protocol.

Safe was not the only company that 1kx expanded its coffers this week. The company also led financing for the infrastructure protocol across chains Li.Finance.

Elsewhere in Germany – Forget ita Web3 ecosystem development company focused on providing tools for users to read, write and own digital assets, gathered a 3 million euros ($ 3 million) seed round led by Signature Ventures and Polymorphic Capital.

The start-up started as an incubation project in Keyko, a full-stack Web3 product and service company, and aimed to solve data sharing problems with tokenization and smart contract ports. As it evolved, it became a decentralized solution for wider digital assets.

“We see many startups trying to combine data with blockchains. Nevermined is the first company to understand the complexity and deliver actual solutions at the intersection of Data and Web3,” said Juliane Hahn, CEO of Signature Ventures, in a statement.

“In the future, every data-driven company will demand the ability to turn its data silos into computer ecosystems.”

Going forward, Nevermined CEO Don Gossen told Blockworks that the company plans to focus its efforts on marketing and branding and improve scalability by making modular services more accessible through various channels.

Other capital raising in the last week:

• Animoca brandsthe Hong Kong-based gaming software and venture capital firm behind The Sandbox, secured $ 75 million to expand the concept of ‘open metaverse’. Following the increase, the company is now valued at $ 5.9 billion.
• Squarea startup that builds a Web3 identity card, raised one $ 7.5 million round led by Dragonfly Capital Partners.
• Decentralized sports betting Scorefam secured $ 25 million from the Global Emerging Market via an initial coin offering.

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