VC roundup: PQShield clinches $37m, Renzo raises $17m

This week, the blockchain and crypto space saw significant venture capital (VC) activity, with startups raising over $100 million collectively. The investments highlight a growing interest in diverse blockchain applications, including gaming, social networks, and advanced cryptographic security.

  • PQShield: The security startup raised $37 million in a Series B round to enhance its post-quantum cryptography solutions. Led by Addition, the funding round also included new investors such as Braavos Capital, Legal & General, and Chevron Technology Ventures. PQShield’s technology aims to future-proof cryptographic systems against quantum computer-based hacks.
  • Renzo: The Ethereum restaking protocol secured $17 million in a Series A round led by Galaxy Ventures and Brevan Howard Digital Nova Fund. Renzo enables users to restake various Ethereum assets, providing them with ezETH, a liquid restaking token usable across decentralized finance (DeFi) platforms.
  • Particle Network: The modular blockchain developer raised $15 million in a Series A round co-led by The Spartan Group and Gumi Cryptos Capital. Particle will use the funding to support its work on chain abstraction technology and expand its operations.
  • Sonic: The Solana layer-2 network focused on gaming raised $12 million in a Series A round led by Bitkraft Ventures. The funds will support Sonic’s mission to simplify Web3 gaming complexities and integrate with various gaming genres.
  • ZKX: The social perpetual trading decentralized exchange (DEX) secured $7.6 million in total funding, including a recent $6.3 million seed round. ZKX aims to enhance perpetual swaps through social trading features and cross-chain interoperability.
  • Gudchain: The OP-stack-based layer-2 blockchain secured $5 million in funding, led by Mechanism Capital. Gudchain aims to simplify Web3 access for gamers and will serve as the foundation for Highstreet Market products.
  • Other notable funding:
    • Zeek: Raised $3 million in a seed round for its decentralized social collaboration network.
    • Wasabi: Secured $3 million in seed funding for its meme coin and NFT leverage trading protocol.
    • Bitwise: Received a $2.5 million seed investment for its Ethereum ETF.
    • Farworld Labs: Closed a $1.75 million pre-seed round for its Farcaster-native gaming platform.
    • Ordinox: Raised $1 million in pre-seed funding for its Cosmos-based automated market maker.

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