Blockchain-based startups proceed to collect funding in the course of the present bear market, with MetaMask associate Blockaid raising $33 million in October. Nonetheless, the general funding within the crypto trade has dropped to ranges final seen in 2020, amassing $2.1 billion over 297 deals within the third quarter of 2023, as reported by Messari. As is usually the case throughout bear markets, traders are taking a more in-depth have a look at initiatives earlier than investing and apparently searching for tangible real-world functions. 

As a part of October’s highlights, the Nature Science Journal discussed applications of blockchain technology, praising decentralized autonomous organizations (DAOs) for his or her potential to assist underfunded scientific analysis. Cointelegraph’s enterprise capital (VC) roundup options initiatives that raised capital in October.

Untangled Finance completes $13.5M fundraising to carry non-public credit score on-chain

London-based fintech Untangled Finance has raised $13.5 million to speed up efforts to carry institutional-grade credit score with a built-in liquidation mechanism on-chain. Fasanara Capital was the lead investor within the spherical. The platform’s protocol focuses on tokenizing real-world non-public credit score belongings, comparable to invoices and SME loans, into on-chain structured credit score swimming pools. These swimming pools, in flip, facilitate the issuance of collateralized debt notes to each DeFi and TradFi traders, Untangled famous in a press release. The protocol concentrates on non-public credit score markets, the place it sees essentially the most utility for DeFi. By means of the funds, Untangled plans to entry greater than 130 verified asset originators spanning 60 nations.

Nocturne raises $6M seed spherical for personal accounts on Ethereum

Nocturne, a protocol enabling on-chain non-public accounts, introduced a $6 million seed funding spherical co-led by Bain Capital Crypto and Polychain Capital with participation from Vitalik Buterin and different members of the Ethereum neighborhood. Different traders embody Bankless Ventures, HackVC and Robotic Ventures. The corporate plans to launch on mainnet within the coming weeks, in accordance with a press release. Nocturne provides an answer that mixes stealth addresses, zero-knowledge proofs, and account abstraction to allow non-public accounts on public blockchains. The seed spherical will speed up the manufacturing and deployment of Nocturne’s protocol throughout numerous ecosystems. A portion of the spherical may also go to authorized work because the group continues to adapt to altering regulatory necessities.

Account Labs secures $7.7M in funding for the UniPass Pockets app

Web3 pockets supplier Account Labs introduced elevating US$7.7 million from lead traders Amber Group, MixMarvel DAO Ventures, and Qiming Ventures, amongst different members. This announcement coincides with the launch of the corporate’s first consumer-facing app, UniPass Pockets, on Polygon. Based on Account Labs, its UniPass Pockets app leverages account abstraction to permit customers to create and entry a self-custody Web3 pockets with solely a Google account and high up with any Mastercard or Visa card. Account Labs was fashioned from the merger of {hardware} pockets developer Keystone and software program pockets developer UniPass in Could 2023. The corporate hopes to handle the demand for stablecoin transactions within the Southeast Asia area.

Rymedi raises $9M to increase blockchain-based healthcare infrastructure 

Rymedi, a blockchain-based healthcare information alternate platform, introduced a Sequence A spherical of $9 million to increase its attain. The spherical was co-led by RW3 Ventures and White Star Capital with participation from Blockchange Ventures, Avalanche’s Blizzard Fund, and strategic angel traders from the healthcare trade. Rymedi claims to serve over 1 million sufferers in over 1,200 places throughout the US, Africa, and Australia. The funds will probably be used to extend information safety and healthcare document accessibility for sufferers. “We’re all the time trying to find nice groups which might be utilizing blockchain know-how to unravel real-world issues with the potential to handle international markets,” mentioned in a press release Pete Najarian, managing associate of RW3 Ventures. 

Waterfall secures $2M funding for mainnet launch

Layer-1 protocol Waterfall Community has raised $2M forward of its mainnet launch, which is anticipated to happen in the course of the first quarter of 2024. Infrastructure supplier Bytrade Lab led the funding. Bytrade Lab has grow to be a key investor and consumer of Waterfall Community following a six-month trial of its tech infrastructure, in accordance with a press release. The protocol is Ethereum Digital Machine (EVM) appropriate and employs a know-how known as Directed AcyclicGraph or “DAG,” which allegedly permits for limitless scalability. Waterfall can also be collaborating with BlueWave Company to develop its sensible contract platform.

Journal: Tokenizing music royalties as NFTs could help the next Taylor Swift