#funding
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Avalon Labs Raised $10M to Grow Its Bitcoin DeFi Ecosystem
Avalon Labs, a startup focused on growing BTCFi (Bitcoin DeFi), announced that it raised $10 million in a Series A funding round led by crypto VC Framework Ventures. Participants included Kenetic Capital, UTXO Management, SNZ Holding, and others.
Perplexity AI on Track for a $9 Billion Valuation!
Perplexity AI, the developer of an AI-powered search engine, is planning to raise over $500 million in a new funding round, which could push its valuation to $9 billion. While discussions are still in the early stages, the company has already held promising meetings with potential investor 
What Are VC-Backed Tokens: The Role of Large Crypto Investors
Funding has a decisive role in crypto. Projects need capital for development, user experience design, testing, and other purposes. The sale of a native cryptocurrency is a common way to raise funds. In the case of VC-backed tokens, large investors access a portion of the token’s total supply before the public launch. Chinese Rival to ChatGPT Raises an Additional $300 Million
The Chinese artificial intelligence startup Moonshot has successfully completed another funding round, attracting over $300 million and raising the company’s valuation to $3.3 billion. Notable investors include major tech and financial firms such as Tencent, Alibaba, and Gaorong Capital. 
China Increases Funding for Chip Manufacturing
The Chinese government has launched a specialized investment fund dedicated to supporting local development and manufacturing of chips, including those designed for artificial intelligence. Since its official establishment on May 24, the fund has attracted over $47.5 billion in investments. 
Torq Secures $70M for AI-Driven Cybersecurity
Cybersecurity company Torq, which leverages artificial intelligence to automate repetitive and labor-intensive tasks, raised $70 million in new funding round. According to CEO Ofer Smadari, the company’s annual revenue has surpassed $24 million, with major clients including Procter & Gamble and PepsiCo. Crypto Startups Attract $2.7 Billion in Funding
According to a PitchBook report, crypto startups raised $2.7 billion in the second quarter of 2024 across 503 deals. This marks a 2.5% increase from the previous quarter but a 9.8% decrease from the same period last year. Additionally, the deal count fell by 12.5% from the first quarter of 2024. Investors Pour $12M into Sonic, the L2 Blockchain
Sonic, a second-layer gaming blockchain built on Solana, has raised $12 million in its latest funding round, reaching a diluted valuation of $100 million. Prominent venture firms like Bitkraft Ventures, Galaxy Interactive, OKX Ventures, and others participated in the investment. 
