Jannat Ara

VC Investments Flourish: Centrifuge, Crypto Valley Exchange, and Nebra Secure Funding

Last week witnessed a flurry of activity in the venture capital (VC) space as Centrifuge, Crypto Valley Exchange, and Nebra successfully closed funding rounds, signaling growing investor interest in blockchain and cryptocurrency projects.

Crypto Valley Exchange (CVEX) led the pack with a substantial $7 million funding round, combining pre-seed and seed investments. The round was co-led by Fabric Ventures and Kyber Capital Crypto Fund, with participation from prominent backers such as AMDAX, Wave Digital, Funfair Ventures, and the Seier Capital Family Office. CVEX aims to disrupt the derivatives market with its decentralized exchange (DEX), offering transparent and cost-effective futures and options trading. With its upcoming mainnet launch scheduled for this summer on Arbitrum (ARB), CVEX plans to introduce enhanced trading features compatible with Ethereum (ETH), Optimism (OP), and Solana (SOL) wallets. James Davies, Chief Product Officer at CVEX, emphasized the platform’s commitment to bringing established risk management approaches on-chain, catering to both individual traders and institutional investors.

Centrifuge also made waves with a significant $15 million Series A funding round, attracting a diverse group of investors. The oversubscribed round marks a pivotal moment for Centrifuge’s mission to become the premier platform for real-world asset (RWA) tokenization. With plans to launch an institutional-grade lending market for RWAs on the Base layer-2 network and integrate with Coinbase Verification, Centrifuge aims to streamline onboarding for institutions seeking exposure to real-world assets while providing instant liquidity and lending options against asset holdings.

Meanwhile, Nebra, a blockchain and zero-knowledge proof (ZKP) research platform, secured $4.5 million in pre-seed and seed funding rounds. Nascent and Bankless Ventures led the investment, with participation from notable angel investors. Nebra intends to develop a “shared settlement layer” for web3, aiming to reduce proof settlement costs on major blockchains like Ethereum. Nascent co-founder Dan Elitzer likened Nebra’s approach to the transformative impact of major technology companies like Google and Uber, pioneering a new approach to blockchain settlements and bringing economies of scale to the sector.

Overall, these funding rounds highlight the growing momentum in the crypto startup ecosystem, with investors pouring billions into promising projects during the first quarter of 2024, according to PitchBook data.

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