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Institutional Bulletin: Figure Technologies Secures $60 Million, Eclipse Raises $50 Million

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Institutional Bulletin: Figure Technologies Secures $60 Million, Eclipse Raises $50 Million

The cryptocurrency industry continues to attract an increasing number of institutional players. This is evidenced by new investments in infrastructure and the growing attention companies are paying to Bitcoin as an asset class. ForkLog reviews the most significant events of recent weeks.

Figure Technologies Raises $60 Million for DEX Launch

Fintech company Figure Technologies has closed a Series A funding round, raising $60 million, and announced the launch of the Figure Markets platform for trading cryptocurrencies, stocks, and other assets. This was reported by The Block.

The investment round was led by Jump Crypto, Pantera Capital, and Lightspeed Faction, with participation from Distributed Global, Ribbit Capital, and CMT Digital.

The new platform will operate on the Provenance blockchain. Plans include a decentralized cryptocurrency exchange and securities market, as well as an MPC wallet.

Eclipse Developers Raise $50 Million

The team behind Eclipse, which is developing an L2 solution using the SVM, has closed a Series A funding round, raising $50 million.

The round was led by Placeholder and Hack VC, with participation from Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital. The firm’s valuation has not been disclosed.

The team announced plans to launch the mainnet in the second quarter of 2024.

Espresso Systems Raises $28 Million from a16z

Blockchain project Espresso Systems has closed a Series B funding round, raising $28 million.

The round was led by venture firm a16z, with participation from Polygon, Caldera, Aztec, Spire, Lumoz, Taiko, Injective, Eclipse, Catalyst, Frax, Rarible, StarkWare, and other investors. The firm’s valuation has not been disclosed.

Espresso is creating a market for collaborative sequencing, allowing rollups to auction off the rights to create their blocks.

Polyhedra Network Raises $20 Million at $1 Billion Valuation

Infrastructure Web3 startup Polyhedra Network has raised $20 million in a strategic funding round at a $1 billion valuation. This was reported by The Block.

The round was led by Polychain Capital, with participation from Animoca Brands, Hashkey Capital, Longhash Ventures, Emirates Consortium, Mapleblock Capital, and other investors.

Polyhedra Network will use the funds to expand its team from 50 to 80 people.

L2 Protocol Morph Raises $20 Million

The team behind the Morph second-layer solution has closed a seed funding round, raising $20 million.

The round was led by Dragonfly, with participation from Pantera Capital, Foresight Ventures, Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, and other investors.

Morph will use the funds to expand its team, marketing, L2 ecosystem expansion, and enhance technical infrastructure.

AI Startup Bluwhale Raises $7 Million

Startup Bluwhale, founded by Stanford and Berkeley alumni, has raised $7 million in a seed funding round to integrate AI and Web3 technologies. This was reported by TFN.

The funds were provided by SBI, Momentum6, Primal Capital, NxGen, Ghaf Capital Partners, Spyre Capital, Baselayer Capital, Haseeb Qureshi, and others.

Bluwhale uses neural networks to connect companies with Web3 wallet owners, aiming to more fairly distribute advertising revenue within the app. The company was founded in 2022 by machine learning experts Adam Rowell and Han Jin.

The project gives users full control over how much of their digital footprint they wish to disclose to selected companies for profit. Those wishing to opt out of marketing campaigns can disable incoming messages and hide personal information at any time.

Bluwhale has partnered with 180 companies and indexed over 270 million wallets.

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