Crypto venture capital (VC) funding witnessed a significant boost this week, with Ithaca and Delta emerging as the top beneficiaries. Data indicates an overall rise in both the number of deals and the volume of funds raised, continuing the positive trend seen in 2024.
Ithaca Secures $20 Million for Decentralized Tech
Ithaca, a project dedicated to building decentralized technology through an open-source developer tool stack, topped the charts this week with a $20 million raise. The funding came from Paradigm, a leading investor in the crypto space, reinforcing the growing interest in projects that prioritize decentralization.
Delta Bags $11 Million for Interoperability
Introducing delta, a network of networks with shared state
delta is an integrated system, built from the ground up to break the trade-off between sovereignty and interoperability for developers
We’re thrilled to announce $11M in funding to realize this vision pic.twitter.com/dUdkeEYhjX
— delta (@deltadotnetwork) October 9, 2024
Delta, a permissionless network facilitating seamless interoperability between member domains, followed closely behind with $11 million. Backed by Variant, DBA, and Figment Capital, Delta aims to strengthen cross-chain functionality, addressing a critical need in the crypto ecosystem.
Humanode and TON Raise $10 Million Each
Humanode, a crypto-biometric network focused on Sybil resistance and innovative governance models, raised $10 million this week. With major backing from Republic Crypto and Big Brain Holdings, Humanode has now secured a total of $22.76 million in funding.
🚀 https://t.co/8kWqgEeplL Invests $10 Million in TON Blockchain 🚀
✅ Strategic investment to accelerate Telegram-based projects and expand the TON ecosystem
✅ Launching a CeFi-driven Telegram mini-app and Gate Wallet within Telegram
✅ Gate Group Supports TON Society’s… pic.twitter.com/238aog63Sh— Gate.io (@gate_io) October 8, 2024
The Open Network (TON), a Layer 1 blockchain created by Telegram, also raised $10 million. This brings its total funding to $58 million, with Gate Ventures leading this latest round.
Notable Smaller Funding Rounds
Other noteworthy deals include PiP World, a gamified financial trading platform, which raised $10 million in a seed round led by Exinity. Bitlayer, a decentralized AI model platform, raised $9 million in a Series A led by Polychain Capital and others.
