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Crypto fundraising demonstrated resilience between June 15 and June 21, as 18 projects collectively raised $159.5 million. Despite ongoing market volatility, the week was defined by significant investments in infrastructure and AI-focused ventures. Leading the pack was EigenLayer, securing $70 million in funding, followed by other notable projects like PrismaX, Sparkchain AI, Gradient Network, Ubyx, and Units Network, each raising $10 million or more. These developments highlight sustained confidence in foundational blockchain technologies and the convergence of crypto with artificial intelligence.

EigenLayer: Pioneering Ethereum Restaking

EigenLayer, a prominent Ethereum restaking protocol, raised $70 million in its latest funding round. This round was led by a16z crypto, building on its earlier $100 million Series B funding in February 2024. The protocol also launched its developer platform, EigenCloud, further solidifying its position in the infrastructure space. To date, EigenLayer has raised a total of $234.5 million, underscoring its potential to reshape Ethereum’s staking landscape.

PrismaX: Advancing Physical Generative AI

PrismaX secured $11 million in a funding round led by a16z CSX, with additional backing from Builder Fund, Symbolic, Volt Capital, and other prominent investors. Co-founded by Bayley Wang and Chyna Qu, the company focuses on integrating robotics and decentralized technologies to drive advancements in physical AI systems. PrismaX aims to lead the next generation of AI-powered solutions by developing foundational models that merge robotics with decentralized innovations.

Sparkchain AI: Decentralized AI Compute Network

Sparkchain AI raised $10.8 million in a strategic funding round led by OakStone Ventures. The capital will be used to scale its decentralized AI compute network and prepare for its launch on Solana. The initiative focuses on real-time optimization, infrastructure expansion, and partnerships, positioning Sparkchain AI as a key player in Web3 and Decentralized Physical Infrastructure (DePIN) ecosystems. This funding reflects growing institutional interest in decentralized AI and alternatives to centralized cloud solutions.

Gradient Network: Transparency in AI Infrastructure

Gradient Network closed a $10 million seed round led by Pantera Capital and Multicoin Capital, with additional support from HSG and other angel investors. The project is dedicated to building decentralized AI infrastructure aimed at promoting transparency and innovation in the AI space. As part of its vision, Gradient Network also unveiled a refreshed brand identity, emphasizing its commitment to decentralization and open-source intelligence.

Ubyx: Stablecoin Infrastructure for Enterprises

Ubyx raised $10 million in seed funding to develop a unified distribution and redemption layer for stablecoins. Founded by Citi veteran Tony McLaughlin, the project has already partnered with notable industry players such as Paxos, Ripple, and Coinbase Ventures. Led by Galaxy Ventures, the funding will support Ubyx’s efforts to provide efficient stablecoin clearing and bank account on/off-ramps, particularly for enterprises engaged in cross-border payments. This highlights growing investor confidence in the stablecoin infrastructure sector.

Units Network: Expanding DeFi and Interoperability

Units Network secured $10 million in a funding round led by Nimbus Capital. This investment aims to enhance DeFi infrastructure, cross-chain interoperability, and AI-powered tools within the Waves Protocol ecosystem. The funding is expected to spark increased interest in Waves, boosting on-chain activity and demand for WAVES tokens, while positioning the protocol for further growth in decentralized finance.

Additional Projects Under $10 Million

Several other projects raised significant amounts below the $10 million mark, showcasing the diversity of innovation in the crypto space:

  • XFX: $9.1 million in a seed round
  • Sahara Labs: $8.5 million in a public sale (valued at $600 million fully diluted)
  • PublicAI: $8 million in a Series A round
  • Project Eleven: $6 million in an undisclosed round
  • The Wildcard Alliance: $6 million in an undisclosed round
  • TAC: $5 million in a strategic round
  • Stackup: $4.2 million in a seed round
  • Uptopia: $4 million in a pre-seed round
  • Nook: $2.5 million in a seed round
  • BitVault: $2 million in a pre-seed round
  • Intuition: $900,000 in a public sale
  • Bombie: $300,000 in a public sale (valued at $80 million fully diluted)

The diverse range of projects and the substantial amounts raised this week indicate growing confidence in both crypto infrastructure and the integration of blockchain with emerging technologies like AI. Investors remain focused on backing projects with strong potential for innovation and long-term impact.

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