Crypto funding demonstrates resilience this week, highlighted by significant investments that showcase robust investor interest across web3 infrastructure, entertainment, and development tools.
Leading the charge is Sentora, a provider of institutional custody solutions, with a successful $25 million Series A funding round. Following closely is T-Rex, a web3 entertainment protocol that secured an impressive $17 million in pre-seed funding, reflecting heightened confidence in blockchain-driven consumer platforms.
Completing the trio, Sonic Labs raised $10 million in a strategic funding effort backed by industry leader Galaxy, underscoring the sector’s commitment to empowering developers with innovative, user-friendly tools. These insights derive from ECNETNews’ comprehensive analysis during the week of May 5–10.
Sentora Secures $25 Million
- Sentora is born from the merger of two industry players, focusing on DeFi solutions that encompass yield strategies, risk management, and financial services.
- With its $25 million Series A funding, led by New Form Capital and supported by key investors, Sentora aims to seamlessly connect traditional finance with DeFi, providing a compliant, scalable pathway for institutional adoption.
- Leveraging advanced analytics and structured finance expertise, Sentora seeks to mitigate the regulatory and operational challenges that have previously hindered institutional participation in DeFi.
T-Rex Raises $17 Million
- T-Rex, an innovative web3 startup, incentivizes users by rewarding them with cryptocurrency for interacting with content across various platforms.
- Backed by prominent investors, T-Rex employs a “proof-of-engagement” system through a browser extension that safeguards user privacy while tracking viewing habits.
- Users earn points by engaging with designated icons, which can be converted into cryptocurrency, with plans to enhance content recommendations. The extension is set to launch by the end of summer.
Sonic Labs Raises $10 Million
- Sonic Labs has successfully raised $10 million in a strategic funding round led by Galaxy to fast-track the development of its $S token and expand its blockchain ecosystem.
- Running on the Fantom platform, the Sonic Mainnet is engineered for exceptional speed and scalability.
- Funding will also be directed towards enhancing infrastructure and application development across DeFi, gaming, and real-world assets.
Fleek Secures $7 Million
- Following a successful $25 million Series A in 2022, Fleek has raised additional funds through a public token sale.
- The platform allows users to create and monetize AI-driven influencers and agents, offering diverse roles through a subscription model.
DogeOS Completes $6.9 Million Round
- DogeOS has raised $6.9 million in a funding round led by a major investment group.
- The initiative aims to establish an application layer on the Dogecoin network encompassing gaming, AI, and DeFi.
- Funds are earmarked for the launch of the DogeOS platform, expanding developer resources, and forging strategic partnerships to enhance application development within the Dogecoin ecosystem.
Additional Funded Projects
- GoQuant: $4 million
- Xweave: $3 million
- Alt DRX: $2.7 million
- Litheum Strategic: $750,000
- Xpfinance XPF: $200,000
- MYX Finance: $180,000
