Blockchain Ventures: Funding Highlights in Private Accounts, Tokenization, and Healthcare Infrastructure Surge

In the midst of a bear market for the crypto industry, blockchain-based startups continue to secure venture capital funding, with a focus on projects demonstrating tangible real-world applications. The third quarter of 2023 saw an overall funding drop to levels last seen in 2020, totaling $2.1 billion across 297 deals, as reported by Messari.

Blockchain in the Scientific Realm

October’s highlights include a nod from the Nature Science Journal to the potential of decentralized autonomous organizations (DAOs) in supporting underfunded scientific research. Investors are scrutinizing projects more closely during this bear market, emphasizing the importance of real-world applications.

Untangled Finance: Bringing Private Credit On-Chain

London-based fintech Untangled Finance has secured $13.5 million in funding, led by Fasanara Capital, to accelerate its mission of bringing institutional-grade credit on-chain. The platform focuses on tokenizing real-world private credit assets, facilitating the issuance of collateralized debt notes to both DeFi and TradFi investors. The funds will enable Untangled to expand its reach across 60 countries, accessing more than 130 verified asset originators.

Nocturne: $6M Seed Round for On-Chain Private Accounts

Nocturne, a protocol enabling on-chain private accounts, announced a $6 million seed funding round co-led by Bain Capital Crypto and Polychain Capital. The platform combines stealth addresses, zero-knowledge proofs, and account abstraction to enable private accounts on public blockchains. With support from investors like Vitalik Buterin, Nocturne plans to launch on mainnet in the coming weeks.

Account Labs: $7.7M for UniPass Wallet App

Web3 wallet provider Account Labs has secured $7.7 million in funding, with lead investors including Amber Group and MixMarvel DAO Ventures. The funding coincides with the launch of UniPass Wallet, the company’s first consumer-facing app on Polygon. Leveraging account abstraction, users can create and access a self-custody Web3 wallet with just a Google account, addressing the demand for stablecoin transactions in Southeast Asia.

Rymedi: $9M Series A to Expand Healthcare Infrastructure

Blockchain-based healthcare data exchange platform Rymedi has raised $9 million in a Series A round co-led by RW3 Ventures and White Star Capital. With a focus on data security and healthcare record accessibility, Rymedi aims to expand its reach, serving over 1 million patients in 1,200 locations across the United States, Africa, and Australia.

Waterfall Network: $2M Funding for Mainnet Launch

Layer-1 protocol Waterfall Network has secured $2 million ahead of its mainnet launch in the first quarter of 2024. Bytrade Lab, the infrastructure provider, led the funding after a successful six-month trial of Waterfall Network’s tech. The protocol, Ethereum Virtual Machine (EVM) compatible, employs Directed Acyclic Graph (DAG) technology for unlimited scalability. Collaborating with BlueWave Corporation, Waterfall aims to develop its smart contract platform.

Despite the bear market challenges, these blockchain startups showcase the continued interest and investment in projects with innovative and practical applications across various industries.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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