In a quiet week for crypto venture capital (VC), notable startups like Allium, Haruko, PEXX, and Bima Labs secured significant funding.

Allium Secures $16.5 Million

The largest funding round of the week was announced on July 18, when Allium, a blockchain data platform for enterprises, closed a $16.5 million Series A funding round. This brings Allium’s total capital to $21.5 million. Theory Ventures led the round, with contributions from seed investors Kleiner Perkins and Amplify Partners.

Tomasz Tunguz, founder of Theory Ventures, joined the Allium board following the funding round. The platform serves companies like Visa, Stripe, and Phantom, offering tools for business reporting, identifying growth opportunities, and powering applications. Allium plans to use the funds to enhance its data infrastructure and scale its market efforts as blockchain data continues to grow.

Haruko Raises $6 Million

Haruko announced it raised $6 million in a VC funding round co-led by White Star Capital’s Digital Asset Fund and MMC Ventures. Founded in 2021, Haruko has quickly established itself in North America and Europe, serving over 50 institutions. The company provides end-to-end solutions for digital assets, with a focus on portfolio and risk management tools aimed at enhancing the finance industry. The funds will support its strategic expansion into Southeast Asia and recruitment of top talent.

PEXX Gains $4.5 Million

On July 16, PEXX, a fintech startup specializing in a stablecoin-to-fiat payment platform, completed a $4.5 million seed funding round. Led by TNB Aura with participation from Antler and EMO Capital, the funding will bolster PEXX’s engineering, product teams, and expand its marketing and business development in Southeast Asia. PEXX enables cross-border transfers of stablecoins like USDT and USDC to bank accounts worldwide, bridging the gap between the web3 world and traditional finance.

Nirvana Labs Raises $4 Million

Blockchain cloud provider Nirvana Labs announced a $4 million seed round co-led by Castle Island Ventures and RW3 Ventures. Other VC firms involved included Hash3, BitGo Ecosystem Fund, Play Ventures, and Third Earth. Earlier this year, Nirvana Labs raised $1.2 million, bringing its total funding to $5.7 million. The company plans to use the funds to expand global connectivity and deepen its product offerings, including web3 cloud monitoring and a managed Kubernetes service. Nirvana Labs will also launch infrastructure with major web3 foundations like Berachain and the NEAR Protocol.

Bima Labs Secures $2.25 Million

The week’s VC activities kicked off with Bima Labs, which develops Bitcoin-backed stablecoins, announcing the completion of a $2.25 million seed fundraising round. Portal Ventures led the round, with contributions from Draper Goren Blockchain, Sats Ventures, and other prominent investors. Bima Labs is pioneering the USBD (Universal Stable Bitcoin Dollar), backed by restaked Bitcoin (BTC) and usable across multiple blockchains. The platform integrates with established web2 payment systems, offering flexible financial solutions and optimized returns through various vaults.

The company aims to capture a significant share of the $150 billion stablecoin market, leveraging Bitcoin’s strengths to create a stable and secure financial ecosystem.

“We are thrilled with the support from our investors, which underscores the confidence in our vision to revolutionize the stablecoin landscape,” said Bima Labs’ CEO.

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