FebruaryS Crypto VC Funding Surge: A Detailed Analysis

The second week of February witnessed a surge in crypto venture capital (VC) funding, with HashKey Group leading the pack by securing $30 million, valuing the company at $1.5 billion. According to the latest Crypto Fundraising data, the total funding for the week surpassed $150 million, with a notable emphasis on payment solutions and infrastructure projects.This trend reflects a growing interest in stablecoin development and layer 1 (L1) infrastructure. Let’s delve into the key investments from the past week.

HashKey Group: A $30 Million Boost from Gaorong Ventures

Hong Kong-based HashKey Group has successfully raised $30 million from Beijing’s Gaorong Ventures, as reported by Bloomberg. This investment underscores HashKey Group’s commitment to developing regulated digital asset finance and banking solutions. With a cumulative funding of $130 million, HashKey Group continues to solidify its position in the crypto landscape.

Plasma: Securing $24 Million for Future Ventures

Plasma, a project backed by notable entities such as Framework, bitfinex, and Peter Thiel, has secured an additional $24 million in an undisclosed funding round.This brings their total funding to $27.5 million, highlighting the project’s potential and the confidence of its backers.

Legend: Aiming High with $15 Million in Funding

Legend, a wallet infrastructure project, has raised $15 million in a recent round. Jayson Hobby, the founder and CEO of Legend, expressed enthusiasm about the support from a16z crypto and Coinbase Ventures. The project is dedicated to creating comprehensive wallet solutions, aiming to revolutionize the way users interact with digital assets.

Mango Network: $13.5 Million for L1 Infrastructure development

Mango Network has secured $13.5 million in an unknown round, backed by Amrita Ventures, Kucoin, and Tido Capital. The project is focused on developing L1 infrastructure, a crucial component for the scalability and efficiency of blockchain networks.

StakeStone: Advancing DeFi with $10 Million

StakeStone has raised $10 million in a recent funding round, backed by BingX. the project is dedicated to building DeFi infrastructure that enhances liquidity, optimizes capital efficiency, and expands cross-chain asset protocols.With a total funding of $32 million, StakeStone is poised to make meaningful strides in the decentralized finance sector.

Human Passport: A New Era in Digital Identity

The Holonym Foundation has acquired Human Passport, formerly known as Gitcoin Passport, for $10 million. This project focuses on building identity solutions, leveraging zero-knowledge proofs to protect user privacy.With over 35 million credentials and 2 million users, human Passport is on track to become the largest issuer of digital identities.

Notable Crypto VC Funding Rounds Under $10 Million

several other projects have also secured significant funding in the crypto space. GamerBoom raised $9 million for AI gaming,backed by NVIDIA. NodeGo secured $8 million for AI-powered DePIN infrastructure, while BitRobot Network raised $6 million for Solana gaming.Blum gathered $5 million for multichain trading, and Partnr secured $4 million for AI gaming communication. walletconnect raised $4 million through a public sale, with a $200 million fully diluted valuation (FDV).Drosera secured $3.25 million for Ethereum security, and cabal, Teneo, and InfiniFi each raised $3 million. Fireverse raised $2.5 million for AI music, and BitRobot Network and DeFi App each secured $2 million. Whetstone Research secured $1.3 million for DeFi research, and Hivello raised $900K and $100,000 in seperate public sales, with a $45 million FDV.

These funding rounds highlight the continued growth and innovation in the crypto industry, with a focus on developing robust infrastructure and solutions for the future.