Crypto VC Funding: AlloyX Limited dominates with $350m deal

Crypto venture funding surged past $700 million last week, driven by a blockbuster $350 million M&A deal and a wave of AI- and infrastructure-focused projects.

From Aug. 31 to Sept. 6, 13 crypto ventures collectively raised $709.6 million, with AlloyX Limited’s M&A transaction leading the pack. Infrastructure platforms and AI-powered startups, including Kite AI, Aria Protocol, and Everlyn, dominated funding rounds, highlighting investors’ growing appetite for scalable blockchain solutions and artificial intelligence applications.

Here’s a detailed breakdown of this week’s crypto funding developments as per Crypto Fundraising

AlloyX Limited

• Raised $350 million through M&A
• AlloyX is a payment infrastructure and stablecoin platform

Etherealize

• Etherealize, an institutional business development firm, secured $40 million in an unknown round
• Investors include Electric Capital, Paradigm, and Vitalik Buterin

Utila

• Utila, a non-custodial wallet platform, now has $22 million in a Series A round ($51.5 million total)
• It’s backed by Redstone Venture Capital, Nyca Partners, and Wing VC

Kite AI

• Kite AI, an EVM-compatible Layer 1 blockchain, gathered $18 million in a Series A round
• Investors include Immersion Ventures, General Catalyst, and 8VC

Aria Protocol

• Aria Protocol raised $15 million in a Seed round
• Polychain Capital, Neoclassic, and Story Protocol took part in the fundraise

Everlyn

• Everlyn secured $15 million from Mysten Labs, Selini, and Nesa
• The startup has a fully diluted valuation of $250 million

Projects > $15 Million

• RISC Zero (Boundless), $13.7 million in a Public sale with $290 million fully diluted valuation
• Tangany, $11.64 million in a Series A round
• Plural, $7.13 million in a Seed round
• Kea, $7 million in a Seed round with $47 million fully diluted valuation
• Reflect, $3.75 million in a Seed round
• Wildcat Labs, $3.5 million in a Seed round
• Maiga AI, $2 million in a Strategic round