Crypto VC Funding: Flying Tulip leads with $200m, xMoney follows with $21.5m

Crypto projects raised $351 million across 13 deals from September 28 to October 4, led by Flying Tulip’s $200 million seed round, as DeFi and finance-focused ventures dominated the week’s funding activity.

Summary

• Flying Tulip raised $200m seed at $1b valuation, leading weekly crypto funding.
• DeFi and finance startups dominate $351m crypto funding across 13 projects.
• Payments and gaming projects like xMoney and AmbrusStudio secured millions.

Here’s a breakdown of this week’s top announcements, according to Crypto Fundraising

Flying Tulip

• Flying Tulip, a full stack on-chain exchange, raised $200 million in a Seed round
• Backed by Brevan Howard, CoinFund, and DWF Labs, the startup has a fully diluted valuation of $1 billion.

xMoney

• The payment infrastructure platform secured $21.5 million from various investors, including Sui Foundation and MultiversX (formerly Elrond).
• So far, xMoney has raised $31.5 million.

Lava

• Lava raised $17.5 million ($27.5 million in total).
• Its backers include Peter Jurdjevic of Qatar Investment Authority, Bijan Tehrani of Stake, Zach White of 8VC, Saurabh Gupta of DST Global, Terry Angelos, formerly of Visa, and Aaron Suplizo, formerly of Block (previously Square).

AmbrusStudio (E4C: Final Salvation)

• Gathered $15 million in an Unknown round
• E4C token is operating in Gaming, NFT, P2E, and Sports sectors
• Investment was backed by Capital

Projects < $15 Million

• Ethena Labs, $14 million in an Unknown round
• KGeN (ex Kratos), $13.5 million in an Unknown round
• Talus Labs, $10 million in a Strategic round
• Yield Basis, $5 million in a Public sale
• Tea Protocol, $3 million in a Public sale
• BaseVol, $3 million in a Seed round
• Novastro, $2 million in a Public sale
• Nolan, $2 million in a Seed round
• Drake Exchange, $1 million in a Seed round