In the week when Bitcoin rose over 30% and left altcoins by the audience, institutional investors stepped in and various projects raised millions of dollars in funds. In this article, you can find the leading crypto investment news for the week starting March 13.
Here are the investment news of the week from 6 crypto money projects
Fashion-focused tech company DRESSX raised $15 million in a Series A funding round led by Greenfield, with contributors such as Slow Ventures, Warner Music, The Artemis Fund, and Red Dao.
Funds raised will be distributed with a focus on interoperability of digital fashion assets, improving the performance of the DRESSX implementation and the NFT market, growing the community, and further partnering with social and gaming platforms across both traditional media and the metaverse.
FLASH NEWS⚡️: @dressxcom announces the successful raise of USD 15 million Series A round 🚀
The round was led by @greenfield_cap with participation from @slow, @warnermusic, @FundArtemis, @RED___DAO and other investors.
The funds raised will help the company to scale its vision… https://t.co/n8TgBfFjhP pic.twitter.com/f4tFpslyW1
— DRESSX (@dressxcom) March 14, 2023
CNHC closes $10 million funding round
This week, KuCoin Ventures, the venture arm of China-based crypto exchange KuCoin, raised $10 million in funding to the stablecoin issuer behind CNHC, an offshore yuan-pegged stablecoin. Other investors included Circle Ventures and IDG Capital.
CNHC is a stablecoin issued on both Ethereum and Conflux. On-chain data shows that Ethereum has 23 token holders and 102 transfers, while Conflux has 606 wallets and 1,487 transfers.
We’re thrilled to announce another breakthrough, @KuCoinVentures has led an investment of $10M into CNHC group along with its investors @circle & @IDGCapital.
CNHC is paving the way to streamline the cross-border payments & build up WEB 3 infra.#CNHC #stablecoins #payments https://t.co/lXgMl9tMvN
— CNHC (@CNHC_TO) March 15, 2023
Ark Investment raises $16M for private cryptocurrency funds
In another fundraising round, Ark Investment secured $16.3 million from 10 investors through two private crypto funds. The two funds, based in the US and the Cayman Islands, were open-ended with a minimum investment of $500,000.
In the meantime, the company backed by Cathie Wood has been extremely bullish, predicting that the price of Bitcoin will rise to $1.5 million by 2030.
Cathie Wood’s ARK raised more than $16 million from investors for funds focused on crytpocurrencies https://t.co/VaIHlbljOn
— Bloomberg (@business) March 16, 2023
Blockchain infrastructure developer Smooth raises $2 million
Smooth Labs, a blockchain infrastructure startup, raised $2 million in an initial funding round that was completed within the week. Smooth said that NGC Ventures, one of the most active crypto investment firms, led the round. Other investors included Cogitent Ventures, ArkStream Capital, and Ian Balina’s Token Metrics.
The Smooth network is currently under development. Its founder said it will launch a testnet in the third quarter. The Altcoin project is considering expanding its team of 12 by hiring engineering and business development functions.
Smooth is delighted to announce our $2M seed round led by @NGC_Ventures！
Other participants include notable venture funds such as @CogitentV, @ark_stream, @tokenmetricsinc, and @AlvesVentures.
Check the full article here: https://t.co/zQPLKD9Yud pic.twitter.com/S14BYgMq4o
— SMOOTH (@smooth_org) March 14, 2023
DWF Labs invested $10 million in this cryptocurrency project: Price rose by double digits
In an investment news that has a direct impact on the price, DWF Labs has invested $10 million in blockchain infrastructure provider Orbs Network through a token sale.
After the announcement dated March 14, ORBS Token gained 15% in a short time. ORBS is currently trading at breakout levels on investment news. It is down about 2% compared to the last 24 hours.
Brazilian Web3 cryptocurrency project Jungle raises $6 million in funding round
In the sixth highlight, Brazilian Web3 company Jungle has raised $6 million in an investment round led by Bitkraft and Framework Ventures to develop its first mobile shooter.
The Sao Paolo-based company will use the funds to expand its team ahead of its first mobile shooting game, which is expected to launch later this year, as more designers, artists, engineers and game developers are sought after.
It is a huge thrill to be backing Joao and the team @jungle_xyz with our investment and co-leading of their $6M seed round! 🌴🇧🇷🔫📱
🔗 (via @decryptmedia): https://t.co/Imfzu73qtK https://t.co/CNz1HMcYhc
— BITKRAFT Ventures (@BitkraftVC) March 13, 2023
cryptocoin.comWe have included the prominent investment news of the week in this article.
