Crypto VC Funding: Taproot Wizards Bags $30m, Reservoir Raises $14m

Total venture capital investments in the crypto space exceeded $105 million this week. Infrastructure and AI solutions secured decent capital across different funding stages.

TNFT marketplace Taproot Wizards secured $30 million while the rest of the funding industry this week showed particular attention to DePIN, gaming infrastructure, and AI integration in blockchain technology.

Let’s look into the investments in the first week of February, per data from Crypto Fundraising.

Taproot Wizards, $30 million

• Standard Crypto, Cyber Fund, and Colludere took part in the $30-million round
• The project, founded by Udi Wertheimer and Eric Wall, is building an NFT marketplace on Bitcoin (BTC).
• In 2023, Taproot Wizards project received a $7.5 million investment from Standard Crypto.

Reservoir, $14 million

• The crypto infrastructure startup secured $14 million in Series A funding
• Backed by Union Square Ventures, Variant, and Archetype
• Coinbase, MetaMask, Magic Eden, and Zora are among the crypto platforms that have integrated its services.

Olas, $13.8 million

• Raised $13.8 million in an unknown round backed by 1kx, Toska Capital, and Sigil Fund
• OLAS operates as a unified network of off-chain services providing automation, oracles, and co-owned AI. The protocol supports Ethereum, Polygon, Gnosis, and Solana blockchains.

Superlogic, $13.7 million

• Secured $13.7 million in Series A funding
• Led by Powerledger, the round also saw participation from prominent investors, including Sangha Capital, 10SQ, Nima Capital, Actai Unicorn Fund, Hyla Liquid Venture Fund, Liquid 2 Ventures.
• Superlogic is building AI-powered Web3 solutions

Beamable, $13.5 million

• Raised $13.5 million in Series A funding
• Backed by Bitkraft, Defy, and Blockchain Founders Fund

The Game Company, $10 million

• Secured $10 million in an unknown round
• The Dubai-based company, a part of Google’s and Microsoft’s startup programs, is backed by Telcoin, Paul Neuner, and BullPerks
• The Game Company developed a platform enabling lag-free gameplay for PC and console games on any device, powered by its patented low-latency technology. It has a collaboration with Aethir, which leverages underutilized GPUs and blockchain incentives to provide AI processing and cloud streaming.

Notable crypto VC funding rounds under $10 million

• Fragmetric raised $7 million for Solana (SOL) ecosystem staking
• ProdigyFi secured $5 million for DeFi yield aggregation
• Flashnet gathered $4.5 million for Bitcoin DeFi trading
• Rho Protocol raised $4 million for derivatives trading
• Klink Finance secured $3.2 million for AI banking solutions
• Henlo raised $3 million for Berachain meme development
• Herd gathered $1.8 million for AI smart contracts
• Corn secured $1.5 million through public sale with $149.94 million FDV
• Fraktion raised $1.14 million for real-world assets
• W Chain gathered $700,000 for L1 payments
• Multisynq secured $350,000 for DePIN infrastructure
• Domin Network funding amount TBD for NFT infrastructure