Artela Raised $6M; Crypto Funding Help Industry to Expand

Artela ecosystem is constantly making appreciable efforts to extend the boundaries of decentralized applications. On July 12, 2023, the company announced that it had raised $6 Million in the seed funding round.

Shima Capital led the seed funding round of Artela with some other participants, including A & T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, and Amino Capital.

The primary aim of Artela is to develop a base-layer blockchain network to meet the surging demand for large-scale decentralized applications.

The ecosystem of Artela also allows the developers to build a native extension on top of the blockchain base layer in a modular manner.

According to Rootdata, Shima Capital has invested in more than 20 crypto-focused companies, including Polkadot, Algorand, Web3Go, Coinweb, EthSign, bitsCrunch, Spliterlands, BlockVision, Coin98, ParagonsDAI, Dtravel, KlimaDAO, Polytrade, Msafe and Coral.

Currently, the investment proportion of Shima Capital includes 31.5% of investments in gaming and Web3, 23% in DAO, 18.5% in infrastructure, 11% in NFTs, and several others.

Data states that as of July 13, 2023, Shima Capital has participated in 180 funding rounds, has 50 lead investments, and holds 212 companies in its portfolio.

RootData states that 69 funding rounds have been organized in the crypto industry in the past month, which has significantly decreased by over 2.82% compared to the last month.

In the past quarter, around 216 funding rounds were organized in the industry, amounting to $1.8 Billion, which is around 32.84% less than the previous quarter.

In this quarter, Worldcoin raised $115 Million in its Series-C funding round, which Blockchain Capital majorly led, including a16z, Bain Capital Crypto, and Distributed Global.

Most Talked About Crypto Investments in 2023

Most recently, on July 12, 2023, a social intelligence platform for cryptocurrencies raised $5 Million in a Series-A funding round.

The funding was majorly led by Draper Round Table, Draper Associates, WWVentures, TRGC, Bitcoin Frontier Fund, Dapper Goren Holm, Blockchain Founders Fund, Side Door Ventures, MoonPay, LBANK Labs, and a few others.

Blockstream, a leading blockchain-developing ecosystem, raised $125 Million in a debt financing round. Apart from Blockstream, LayerZero raised $120 Million in Series-B funding at a valuation of $2 Billion.

So far, LayerZero has received financing from Coinbase Ventures, Animoca Brands, OKX Ventures, Circle Ventures, and FTX Ventures.

However, after analyzing the facts, it is noted that crypto funding has reflected a steep decline of 10-35% in the past quarter.

Still, it might surge in the coming times, and many more new projects are expected to emerge in the market.

After excluding some digital assets in the last few months, all cryptocurrencies have reflected an impressive hike at press time. Bitcoin, the leader of all cryptocurrencies, was trading at $30,201.56 with an intraday trading volume of $14,809,269,636.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing