Crypto VC funding: Infra, AI stack up $159m in shaky market

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Crypto fundraising remained resilient from June 15 to June 21, with 18 initiatives securing a mixed $159.5 million regardless of broader market volatility.

The week was dominated by infrastructure and AI-focused ventures, with EigenLayer main the pack by means of a $70 million spherical backed by a16z crypto—bringing its whole funding to $234.5 million. Other notable raises included PrismaX, Sparkchain AI, Gradient Network, Ubyx, and Units Network, every attracting $10 million or extra from outstanding traders like Pantera, Lightspeed, Galaxy Digital, and Coinbase Ventures.

The exercise alerts continued confidence in foundational crypto applied sciences and AI convergence, at the same time as deal sizes focus round fewer, well-backed initiatives.

Here’s an in depth examination of this week’s crypto funding exercise, based on the web site Crypto Fundraising:

EigenLayer (EigenCloud, Eigen Labs)

• The digital belongings arm of enterprise capital agency Andreessen Horowitz, a16z, deepened its funding in EigenLayer with a brand new $70 million token acquisition.
• The transfer coincides with the launch of the Ethereum restaking protocol’s developer platform, EigenCloud. It additionally builds on the $100 million funding a16z made in Eigen Labs’ Series B funding spherical in February 2024.
• EigenLayer (EIGEN) has raised $234.5 million to date.

PrismaX

• PrismaX secured $11 million in a funding spherical led by a16z CSX, with participation from Builder Fund, Symbolic, Volt Capital, Virtuals Protocol, and a number of other angel traders.
• The firm formally launched throughout CSX’s Demo Day on June 3, showcasing its robotic intelligence platform, which goals to advance bodily generative AI.
• Bayley Wang and Chyna Qu co-founded PrismaX, Which focuses on creating foundational fashions that mix robotics and decentralized know-how to energy next-gen bodily AI techniques.

Sparkchain AI

• SparkChain AI raised $10.8 million in a strategic spherical led by OakStone Ventures to scale its decentralized AI compute community and put together for its upcoming launch on Solana.
• The funding will assist real-time AI optimization, infrastructure enlargement, and key partnerships, positioning SparkChain as a core layer for Web3 and DePIN (Decentralized Physical Infrastructure) ecosystems.
• The increase displays rising institutional curiosity in decentralized AI infrastructure, amid rising demand for options to centralized cloud options and elevated concentrate on edge computing, modular blockchains, and knowledge sovereignty.

Gradient Network

• Pantera Capital and Multicoin Capital led a $10 million seed spherical for Gradient Network. HSG and top-tier angel traders throughout AI and crypto supplied further backing.
• The startup is constructing decentralized AI infrastructure for open-source intelligence, aiming to drive transparency and innovation in the AI house.
• Gradient additionally unveiled a refreshed model id, reinforcing its dedication to decentralization, transparency, and its long-term imaginative and prescient for the way forward for AI.

Ubyx

• Ubyx clinched $10 million in seed funds. Founded by Citi veteran Tony McLaughlin, the startup goals to be a unified distribution and redemption layer for a number of stablecoins, already partnering with Paxos, Ripple, Transfero, Monerium, and others.
• Galaxy Ventures led the hassle with participation from Founders Fund, Coinbase Ventures, Paxos, Payoneer, and others, to construct infrastructure for stablecoin clearing and checking account on/off-ramps—particularly for corporates dealing with cross-border funds.
• The increase highlights rising investor confidence in stablecoin infrastructure, as Ubyx seeks to fill a niche left by main gamers like Circle and Tether, amid expectations of looser regulatory circumstances post-election.

Units Network

• Units Network collected $10 million in a spherical led by Nimbus Capital, signaling robust institutional confidence in the Waves Protocol and its potential to broaden inside the DeFi and interoperability sectors.
• The funding goals to speed up DeFi infrastructure growth, cross-chain interoperability, and AI-powered instruments.
• The funding is anticipated to spice up curiosity in the Waves ecosystem, probably driving greater on-chain exercise, elevated token demand, and improved market sentiment round WAVES as institutional backing attracts consideration.

Projects underneath $10 million

• XFX, $9.1 million Seed spherical
• Sahara Labs, $8.5 million in a Public sale with $600 million absolutely diluted valuation
• PublicAI, $8 million in a Series A spherical
• Project Eleven, $6 million in an Unknown spherical
• The Wildcard Alliance, $6 million in an Unknown spherical
• TAC, $5 million in a Strategic spherical
• Stackup, $4.2 million in a Seed spherical
• Uptopia, $4 million in a Pre-seed spherical
• Nook, $2.5 million in a Seed spherical
• BitVault, $2 million in a Pre-seed spherical
• Intuition, $900,000 in a Public sale
• Bombie, $300,000 in a Public sale with $80 million absolutely diluted valuation

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