Cointime

Cointime

Download App
iOS & Android
Home / Financing

New $60M web3 Fund From Axelar Offers Close Support From Circle, Polygon

The interchain communication protocol, Axelar, has announced a $60M funding program to drive innovation for web3 startups building during the bear market.

“The Axelar Ecosystem Startup Funding Program is designed to nurture a pipeline of developers building Web3 products that rival anything on the centralized web.”

The announcement revealed that the fund is backed by “crypto-native investment firms” including Blockchange, Chorus One, Collab+Currency, Cygni Capital, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, SCB 10X and others.

Circle Polygon
Comments

All Comments

Recommended for you

  • Stablecoin native cryptocurrency exchange TrueX completes $11 million Series A financing, led by Accomplice and others

    the stablecoin native cryptocurrency exchange TrueX announced the completion of a $11 million Series A financing round, with Accomplice and RRE Ventures leading the investment, Reciprocal Ventures, Variant, and the payment giant PayPal participating, the new funds are intended to support external custodians such as Paxos Custody for asset protection, currently TrueX uses PayPal stablecoin PYUSD as its preferred trading token, Paxos provides third-party custody services to TrueX users, and its services are expected to first be open to U.S. institutions and some international institutions in certain regions.

  • Glider completes $4 million financing, led by a16z

    crypto investment startup Glider has completed a $4 million financing round, led by a16z, with participation from Coinbase Ventures, Uniswap Ventures, and GSR. Glider plans to use artificial intelligence to help users adjust their cryptocurrency investments according to their needs, and will join the Andreessen Horowitz cryptocurrency startup accelerator this spring.

  • Optimum Completes $11 Million Seed Round, Led by 1kx

    Optimum has completed a $11 million seed round of financing, with 1kx leading the investment, and Robot Ventures, Finality Capital, Spartan, CMT Digital, SNZ, Triton Capital, Big Brain, CMS, Longhash, NGC, Animoca, GSR, Caladan, Reforge and others participating. Optimum is a decentralized, performance-enhancing memory layer for any blockchain, incubated by the Massachusetts Institute of Technology. (CoinDesk)

  • Plastic Labs Completes $5.35 Million Pre-Seed Funding and Launches AI Identity Platform Honcho

    Plastic Labs has completed a $5.35 million Pre-Seed round of financing, led by Variant, White Star Capital, and Betaworks, with participation from Mozilla Ventures, Seed Club Ventures, Greycroft, and Differential Ventures. Angel investors include Scott Moore, NiMA Asghari, and Thomas Howell. At the same time, its personalized AI identity platform "Honcho" is now open for early access.

  • AI video startup Runway completes $308 million in funding

    AI video generation company Runway raised $308 million in a new round of financing, with a valuation soaring to over $3 billion. This round of financing was led by General Atlantic, with participation from Nvidia and SoftBank Vision Fund 2. Runway will use the funds to strengthen AI model research and development and expand the creative team. Its software has been used in Amazon series, Madonna tours, and Puma ads, among other projects. The recently launched Gen-4 model supports consistency in characters and scenes, achieving significant technological breakthroughs.

  • AI infrastructure platform Mahojin completes $5 million financing

    AI infrastructure platform Mahojin has completed a $5 million financing round, led by a16z CSX and Maelstrom. Mahojin aims to create a "GitHub" for AI model creators and dataset developers, with the platform enabling intellectual property tracking and rewarding the original contributors of models and datasets.

  • US artificial intelligence startup Yutori raises $15 million

    Yutori, a startup based in San Francisco, has raised $15 million for the development of an artificial intelligence personal assistant.

  • Meme incubation platform Coresky completes $15 million Series A financing

    Meme incubation platform Coresky announced the completion of a $15 million Series A financing round, led by Tido Capital, with WAGMi Ventures, Copilot Venture Studio, Web3 Vision Fund, and Parallel Ventures participating. The valuation information has not been disclosed, and the company's total financing to date has reached $21 million.

  • USDC circulation decreased by $200 million in the past week, with a total circulation of $33.1 billion

    According to official data, Circle issued a total of 2.8 billion USDC and redeemed approximately 3 billion USDC in the past 7 days, resulting in a decrease in circulation of approximately 200 million USDC. The total circulation of USDC is 33.1 billion US dollars, with a reserve of 33.2 billion US dollars, including approximately 3.4 billion US dollars in cash, and Circle Reserve Fund holding approximately 29.8 billion US dollars.

  • In April, Polygon’s on-chain NFT sales exceeded US$50 million, setting the second highest record of the year

    According to Cryptoslam data, the NFT sales on Polygon chain in April exceeded 50 million US dollars, reaching 51,539,690.69 US dollars, setting the second highest monthly sales record in 2024, second only to January's sales of 112 million US dollars this year. In addition, the NFT trading volume on Polygon chain in April increased significantly to 1.5 million transactions, with nearly 90,000 independent sellers and over 33,000 independent buyers.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company