Ansible, Injective Labs, Lysto, Ultimate Money, Pinata and Join Creator DAO Complete Successful Funding Rounds
August 11, 2022 at 4:00 pm
by Wayne Jones
Projects including Injective Labs, Ansible Labs, Lysto, Ultimate Money, Join Creator DAO, and Pinata Cloud continue with successful funding rounds.
Ansible Labs Raises $7 Million in Funding Round
Ansible Labs, a blockchain payments platform, recently completed a successful funding round, raising $7 million. A tweet by @Crypto_Dealflow said:
“Blockchain payments platform @AnsibleLabs raised $7M in a funding round led by @archetypevc. Castle Island Ventures, A Partners, Arca, Soma Capital, Plural VC, and Eniac are among investors.”
According to reports, Ansible Labs will use these funds in hiring, dealing with operating expenses, and liquidity as the platform aims to launch its first product. Daniel Mottice, The network’s co-founder and CEO, said, “We see off-ramp as a missing piece in the puzzle that is mainstream Web3 adoption and usage.”
Injective Labs Raises $40 Million
In another funding round, Injective Labs, a Defi Focused L1 blockchain, raised $40 million led by BH Digital and Jump Crypto. Injective’s blog stated, “Injective has raised $40M to accelerate the adoption and growth of Web3 finance.”
According to the blog post, Injective will use the funds to spur the development of an “industry-leading blockchain optimized for financial applications.” They plan to continue investing in the ecosystem to solidify their position as the best service for Web3 Defi creators.
Kanav Kariya, Jump Crypto’s president, said, “We look forward to building together with the Injective community and are optimistic about the ecosystem’s future growth.”
Lysto Raises $12 Million in Funding Round
In another successful pre-Series A funding round, Lysto raised $12 million. This funding round was co-led by venture capital networks like Square Peg, Hashed, and Beenext. Other investors participating in the funding round include Better Capital and Tiger global.
Lysto also enjoyed support from other angel investors, including Paul Veradittakit (Pantera Capital partner), Binny Bansal (Flipkart co-founder), Balaji Srinivasan (former Coinbase CTO), and Bobby Ong and TM Lee (CoinGecko co-founders).
Lysto will use the fresh funds to continue building its platform. Sadiq Ahamed, the CEO, and Founder of the platform said;
“We are building a protocol that will help gamers digitize their credentials on-chain and carry it wherever they go… Gamers can showcase their skill set through these credentials to join a game, form a team, and join tournaments.”
Ultimate Money Raises $12.5 Million
Defi Wallet platform Ultimate Money just recently completed a successful funding round raising $12.5 million. @Crypto_Dealflow announced this funding round, saying,
“DeFi wallet @UltimateMoney by Unstoppable Finance raised $12.5M in a Series A round led by @lightspeedvp. Speedinvest, Rockaway Blockchain Fund, Backed VC, Inflection, Discovery Ventures, Fabric Ventures, and Anagram are among investors.”
When commenting about this wallet, von Wallenberg-Pachaly said
“What we do is integrate DeFi protocols deeply into the mobile front-end experience. There’s no other wallet that does that.”
Join Creator DAO Raises $20 Million
In a recent round led by a16z and Initialized, Join Creator DAO raised $20 million in funding. M13, 6th Man Ventures, Liquid 2 Ventures, Hack VC, @svangel, @ParisHilton,
When commenting about their participation in this funding round, Garry Tan, Initialized Capital’s Founder, said;
“CreatorDAO is leveraging the power of the creative community in a unique way, inspiring creators to invest in each other and leveraging the power of their craft… Having the ability to share in their peers’ success incentivizes creators to collaborate and support each other, creating network effects and contributing to the overall community’s body of work.”
Pinata Cloud Raises $18 Million in Funding Round
Recent reports indicate that Pinata Cloud completed a funding round raising $18 million. This is the second funding round after the first one raised $3.5 million. As of now, the total amount raised by Pinata is $21.5 million. Greylock and Pantera co-led this funding round, while Volta Capital, Alchemy, and OpenSea participated in the round.
In a press release, Greylock partner Mike Duboe said;
“While today’s NFT activity is focused around static .jpeg files, we believe this is just the tip of the iceberg for this technology and that the most interesting applications around NFTs involve richer media… Pinata is the most full-featured offering to help creators and marketplaces program more advanced functionality into this media.”