Crypto investments are growing as VCs put more money into companies that build financial services on blockchain networks.
Over the past week, venture capital firms have invested over $130 million in startup projects. Crypto Fundraising data revealed that many startups focus on payments, insurance, and blockchain systems that connect different networks.
The biggest investments went to Tabit Insurance and Rain, which raised more than $64 million together. Other companies also received millions of dollars to develop new solutions for digital payments, security, and decentralized finance
Tabit Insurance raised $40 million in a funding round. This investment is special because it is backed by Bitcoin (BTC). This means that auditors and regulators can verify the funds in real-time.
This is the first time an insurance company has done this, making it a major step forward for financial transparency in crypto. Tabit plans to use the funds to improve its insurance services and set a new standard for companies in the digital asset industry.
Rain, a company that helps connect traditional financial systems with blockchain networks, recently secured $24.5 million in a funding round. With this new investment, Rain has raised a total of $30.5 million. The company wants to make it easier to move funds, including stablecoins, between banks and blockchain platforms.
Some of the biggest investors in this funding round include Norwest Venture Partners, Galaxy Ventures, and Coinbase Ventures. Rain plans to use the funding to expand its services, improve technology, and reach more customers worldwide.
CoreSky, a company developing Ethereum-based solutions, also raised $15 million in a Series A crypto investments and funding round. The investment came from Tido Capital and other investors. CoreSky is developing a platform to help launch meme-related digital assets on the Ethereum network.
The company plans to use the funds to improve its platform and give developers more tools to create and manage digital assets.
Several other companies also secured funding to build different blockchain and crypto services. Abound, a company focused on cross-border payments and rewards, received financial support to expand its services. Chronicle Labs raised $12 million to build Oracle technology that connects blockchain systems.
Warlock Labs secured $8 million to improve security for Ethereum-based applications. Fragmetric raised $5 million to develop better staking options for the Solana blockchain. Tarta Labs received $4.5 million to build new play-to-earn gaming experiences across multiple blockchains.
Artificial intelligence (AI) and blockchain technology are also receiving financial backing. Capx AI secured $3.14 million to develop AI-powered applications on Ethereum. Arcium raised $4 million through a public sale, reaching a total project value of $200 million.
The post VC Firms Pour Over $130M Into Financial Services Startups appeared first on BitcoinLinux.com.
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Author: coinmaker
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