Blockchain
Blockchain startup LightLink raises $6.2m as cryptocurrency VC activity shifts
Ethereum layer-2 blockchain LightLink secured $6.2 million in funding during an extended seed round.
Institutional and individual investors participated in the effort.
“No further rounds planned [at the moment],” the company stated in a social media post on Saturday, April 6.
LightLink extended the seed round due to high demand from investors. The startup ended up receiving an additional $1.7 million in the process. ‘
The company plans to use this influx of capital to support its vision of a web3 ecosystem accessible to millions while advancing proprietary technologies for gasless transactions.
Roy Hui, LightLink’s co-founder and CEO, expressed enthusiasm about the investment, highlighting the company’s commitment to practical blockchain solutions.
Our mission at LightLink is to make blockchain practical and accessible. This investment will help us continue building a Web3 ecosystem for millions of users from our enterprise partners and enhance our proprietary technology for gasless transactions. -Roy Hui, LightLink CEO and co-founder
The extended seed round saw participation from prominent venture capital (VC) firms such as MH Ventures and NxGen, alongside contributions from individual crypto investors like Eric Cryptoman and Satoshi Stacker.
LightLink reportedly records about 115,000 daily transactions and enjoys a strategic alliance with Animoca Brands.
Additionally, one of its upcoming initiatives is the launch of its LL token, backed by a liquidity bootstrapping pool. The move is designed to ensure equitable distribution and efficient price discovery within the LightLink ecosystem, which facilitates instant, gasless transactions for dapps and enterprises.
The company’s successful seed round comes against a backdrop of renewed VC interest in the crypto space.
According to data gathered by Crypto Koryo, venture capital funding in crypto projects has surged by 38% since Q4 2023.
Crypto Koryo’s data indicated that the number of crypto projects receiving VC funding also increased by 49%.
Venture firms such as Andreessen Horowitz, OKX Ventures, and Paradigm led major investment rounds in the first quarter of 2024.
In March alone, crypto VC funds invested over $1.1 billion across 180 crypto startups, with a focus on infrastructure and decentralized finance projects.
This upward momentum in VC funding mirrors the trend seen in the fourth quarter of 2023, which observers say indicates a positive outlook for continued growth and innovation in the crypto space.
Source: crypto.news
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Blockchain
Humanity Protocol Secures $20 Million Strategic Funding from Jump Crypto and Pantera Capital at $1.1B Fully Diluted Valuation
Humanity Protocol, a decentralized identity blockchain solution, is today announcing the successful closure of its latest $20 million funding round, co-led by Pantera Capital and Jump Crypto at a $1.1 billion fully diluted valuation.
This investment represents a vote of confidence in Humanity Protocol’s mission to redefine decentralized identity and unlock new possibilities for secure, inclusive, and user-owned blockchain ecosystems. It follows the recent announcement of the Humanity Foundation’s formation, led by Yat Siu, Mario Nawfal, and interim CEO Yeewai Chong.
The funding will accelerate Humanity Protocol’s development of Proof of Humanity, Human ID, and seamless integrations with leading Web3 platforms. With the support of Jump Crypto and Pantera Capital, Humanity Protocol is poised to scale its operations, expand its global reach, and drive adoption across industries beyond Web3.
As Humanity Protocol continues to grow, the funding will also support upcoming initiatives, including partnership announcements, developer grants, and community-building efforts leading up to the protocol’s mainnet launch.
Both Pantera Capital and Jump Crypto bring extensive expertise in blockchain, Web3 infrastructure, and strategic scaling, making them ideal partners in Humanity Protocol’s next growth phase.
“At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own,” said Terence Kwok, Founder of Humanity Protocol. “This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm. We’re honored to have the backing of such visionary investors who share our belief in the transformative potential of Web3 technologies.”
“At Pantera Capital, we are excited about all the ways that blockchain enables a future AI-driven world, and Humanity Protocol is leading the way,” added Cosmo Jiang, General Partner at Pantera Capital.
The post Humanity Protocol Secures $20 Million Strategic Funding from Jump Crypto and Pantera Capital at $1.1B Fully Diluted Valuation appeared first on News, Events, Advertising Options.
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