$161m floods startups as prices sway

Venture capital appetite for crypto startups is showing signs of resilience despite broader market turbulence. This week, at least 15 firms across different slices of the ecosystem secured fresh funding.

According to Crypto Fundraising data, the last week of May ended with $161.1 million in crypto funding activity. Twenty One, a new Bitcoin treasury company, raised a massive $100 million; Conduit Pay landed $36 million to expand its crypto-native banking services; and Donut, a newcomer focused on wielding artificial intelligence, secured $7 million in a pre-seed round.

The flurry of deals highlights investor conviction in crypto’s long-term potential, even as asset prices wobble. The investment rounds ranged from pre-seed to Series A stages. Here’s a complete breakdown of this week’s crypto funding developments.

Twenty One, $100 million

• Raised $100 million in an Unknown round
• Twenty One is focused on improving Bitcoin (BTC) adoption

Conduit Pay, $36 million

• Conduit Pay secured $36 million in a Series A round
• The investment was backed by Dragonfly, Ribbit Capital, and Sound Ventures

Donut Labs, $7 million

• Donut raised $7 million in a pre-seed round to build an AI-powered crypto browser.
• Donut’s investors include BitKraft, Hack VC, and HongShan

Beam Cash, $7 million

• Beam Cash gathered $7 million in an Unknown round
• The investment was backed by Castle Island Ventures, Archetype, and Bankless Ventures
• The project has raised $14 million so far

Cooking City, $7 million

• Cooking City raised $7 million in an Unknown round
• Investors include Jump Capital, CMT Digital, and Mirana Ventures

Projects < $5 million

• Rumi, $4.7 million in pre-seed funding
• Oncade, $4 million in an Unknown round
• Naoris Protocol, $3 million strategic investment
• Asigna, $3 million in a seed round
• Assisterr AI, $2.8 million in an unknown round with $75 million fully diluted valuation
• Dexari, $2.3 million in a seed funding round
• H100 Group, $2.2 million in an unknown round
• BlockSpaces, $2 million backed by Axiom, Sand Harbor Capital
• Ducat, $1.5 million in a public sale
• EGO, $800,000 in a pre-seed round