VC Roundup: Institutional staking, car network, and Move VM funding deals

Axiom, Portal, HashKey, Kiln, Digital Infrastructure, Pontem and p0 are among the startups securing venture capital in January 2024.

Crypto-based startups kicked off 2024 by disclosing new funding rounds across a range of sectors despite liquidity constraints as private investments are burdened by high-interest rates.

January’s highlights include smart contract platform Axiom securing $20 million for a zero-knowledge approach to authenticating data on-chain, Portal’s $34-million seed funding for Bitcoin (BTC) atomic swaps, and crypto exchange HashKey hitting unicorn status after raising nearly $100 million in a Series A funding round.

Ecosystems are also playing a role in supporting early-stage ventures. The Solana Foundation, for instance, picked Colosseum to manage its accelerator program, which seeds startups with a $250,000 investment. Digital asset market maker Keyrock also announced $10 million in token capital for the Radix public ledger to support ecosystem growth.

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