Top Cryptocurrency Funding and Investments in 2021 So Far

Analytics Insight has listed cryptocurrency funding you should be aware of.

Cryptocurrency trading has exploded over the past few years, largely due to the rise in the value of Bitcoin. Since other cryptocurrencies like Dogecoin and Ethereum also performed well in the market for quite some time, many people from across the globe got interested in the cryptocurrency market. Today, there are over 1000 cryptocurrencies in the digital currency sphere. While only a handful of them have made it to the remarkable cryptocurrency list, others are also trying their best to pump up the pricing and their market capitalization. Following the surge in cryptocurrency adoption, many start-ups and companies began providing solutions related to cryptocurrency. Starting from cryptocurrency trading to providing protection from crypto-based frauds, a significant number of organizations are jumping into the cryptocurrency market to yield profit. This has drastically opened the door for many investors to invest in such disruptive companies. Over the past few years, cryptocurrency funding has also increased remarkably. Therefore, Analytics Insight has listed some of the recent cryptocurrency funding you should be aware of.

Bitwise

Amount raised: US$70 million

Transaction type: Series B

Key investor(s): Henry Kravis, Stanley Druckenmiller, and Bridgewater CEO David McCormick

Bitwise Asset, one of the famous cryptocurrency fund managers, has secured US$70 million in a Series B funding round in which a handful of institutional investors and over 30 individuals from Wall Street and Silicon Valley participated. Bitwise plans to use the fund to strengthen its balance sheet and develop its research, client service, and sales teams. As cryptocurrency investments spiked, Bitwise saw big growth, both in revenue and team. It has doubled the size of its team from the start of 2021.

Goldfinch

Amount raised: US$11 million

Transaction type: Series A

Key investor(s): Andreessen Horowitz

Goldfinch has raised US$11 million in a Series A funding round led by venture capital giant Andreessen Horowitz. Headquartered in San Francisco, United States, the company works on a decentralized protocol, enabling crypto to borrow without crypto collateral. Goldfinch allows unsecuritized borrowers to benefit from decentralized finance (Defi). The company is planning to make crypto borrowing more accessible, particularly to individuals and businesses in developing countries with fewer tangible assets to address typical collateral requirements.

Ledger

Amount raised: US$380 million

Transaction type: Series C

Key investor(s): Cathay Innovation, Draper Esprit, and Digital Currency Group

Ledger has secured US$380 million in a financing round participated by key players in the cryptocurrency market including Cathay Innovation, Draper Esprit, and Digital Currency Group. The Series C funding took the company's total valuation to US$1.5 billion. Founded in 2014, Ledger sells hardware and software to keep cryptocurrency secure. So far, the company has sold over 3 million such hardware wallets and claims that about 15% of all crypto assets globally are secured by its systems.

Pintu

Amount raised: US$6 million

Transaction type: Series A

Key investor(s): Pantera Capital, Intudo Ventures, and Coibase Ventures

Pintu, a cryptocurrency platform focused on first-time digital currency buyers has raised US$6 million in a Series A funding led by Pantera Capital, Intudo Ventures, and Coinbase Ventures. The Indonesian company is enjoying the legality of its government's regulatory measure towards Bitcoin and other crypto assets. Pintu makes it easier for first-time investors to purchase Bitcoin, Ethereum, and other cryptocurrencies. Pintu is registered under Bappabeti and the Ministry of Communication and Informatics as a licensed crypto assets broker.

Circle

Amount raised: US$400 million

Transaction type: Not disclosed

Key investor(s): Fidelity

Coinbase crypto partner Circle has raised US$440 million in a new funding round led by Fidelity and FTX. However, Circle declined to disclose the terms of the new financing deal, including its latest valuation. The company is currently focused on improving its US dollar-backed USD Coin, a stablecoin created to maintain the volatility of the cryptocurrency market. Circle jumped into cryptocurrency trading after trying other options like payment app, over-the-counter trading desk, etc.

Solana Labs

Amount raised: US$314 million

Transaction type: Not disclosed

Key investor(s): Andreessen Horowitz

Cryptocurrency start-up Solana Labs Inc has raised US$314 million in a recent funding round led by Andreessen Horowitz. The company said that the amount will be utilized to develop technology used in the fast-growing area of the cryptocurrency markets knows as decentralized finance (Defi). Founded in 2017, Solana launched a blockchain network that is faster and more energy-efficient than the Bitcoin or Ethereum blockchains.

TRM Labs

Amount raised: US$14 million

Transaction type: Series A

Key investor(s): Bessemer

TRM Labs, a blockchain intelligence company, has raised US$14 million in the Series A funding round led by Bessemer. Based in San Francisco, United States, TRM Labs is facilitating financial firms and public agencies around the world in the detection and prevention of crypto-related fraudulent activities. The company announced that big players like PayPal Ventures, Jump Capital, and Blockchain Capital also participated in the funding round. Owing to the increase in the adoption of cryptocurrency assets, the disruptive solution provider has seen a growth of 600% in revenue this year alone. The increasing demand for crypto-related management and compliance software has greatly contributed to its spike.