The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
Startup Inflection AI raises $1.3 billion from Nvidia and other investors
AI-powered Pi chatbot startup Inflection AI has raised $1.3 billion from investors including Microsoft and Nvidia.
Funding was also provided by Microsoft co-founder Bill Gates, LinkedIn co-founder Reid Hoffman and ex-Google CEO Eric Schmidt.
According to Reuters, the startup was valued at $4 billion. The total amount of funds raised was $1.5 billion.
Inflection AI said the funding will support further efforts to develop its first product, the Pi chatbot. It is designed to generate “easy conversations” and can ask counter questions.
Web3 game developer Mythical Games raises $37M
Web3 video game company Mythical Games closed a $37 million Series C1 investment round led by Scytale Digital.
Other members include ARK Invest, Animoca Brands, PROOF, Stanford Athletics and MoonPay, as well as current beneficiaries Andreessen Horowitz, WestCap, Gaingels, Signum Growth and Struck Capital.
The company will use the raised funds to scale up its games and expand audience coverage.
Bitpanda Pro raises €30 million and spins off into a separate business
The Bitpanda Pro crypto platform became independent under the One Trading brand. The structure closed a €30 million Series A funding round led by Peter Thiel’s Valar Ventures. Also participating in the round were MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.
Parent company Bitpanda will retain an unnamed stake in the business. Unlike the former “daughter”, which was focused on professional and institutional traders, the firm will continue to focus on retail users.
One Trading positions itself as a MiFID compliant trading platform licensed as a virtual asset service provider. The structure is ready to offer “capital efficient spot and derivative products” to a wide range of clients.
Jack Dorsey’s Twitter Alternative Raises $8M
Bluesky, a decentralized alternative to Twitter backed by Twitter co-founder and ex-CEO Jack Dorsey, has closed an $8 million seed funding round.
It was led by Neo with the participation of a number of investors: Red Hat co-founder Bob Young, Kubernetes developer Joe Beda, Replit creator Amjad Masada and others.
The funds raised will be used to expand the team, operating costs and infrastructure, as well as to develop the AT protocol on which the platform operates.
Bluesky also announced the first paid feature, a custom domain as a username. To do this, the social network entered into a partnership with the registrar Namecheap.
Binance Labs Invests $4M in Web3Go Startup
Data mining network developer Web3Go has raised $4M in a seed funding round led by Binance Labs.
Round participants include Hashkey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings and Archerman Capital.
The team offers a suite of AI-enabled digital asset creation tools and a blockchain-based real-time data processing infrastructure.
The startup will use the raised funds for rebranding into Web3Go DIN (Data Intelligence Network) and further development of the project.
Privacy-focused startup Ola raises $3 million in funding
Privacy-focused Web3 startup Ola has raised $3 million in a seed round. It was led by Web3.com Ventures and Foresight Ventures with participation from Token Metrics Ventures, LD Capital and Catcher VC.
“Our ultimate goal is to make privacy a fundamental right in the digital age, especially for Web3 users,” said Ola CEO Ocean Chen.
The startup plans to conduct a beta test of the network in the third quarter of 2023. After that, a public testnet will be launched. The main network, according to the project roadmap, will begin operation in the first quarter of 2024.
Also on ForkLog:
- Study: The volume of venture deals in the crypto industry fell by 71% in June.
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