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Post: Crypto Startups Secure Millions in Funding: Axiom, Portal, HashKey, Solana Foundation, and Keyrock Stand Out

Crypto Startups Secure Millions in Funding: Axiom, Portal, HashKey, Solana Foundation, and Keyrock Stand Out

Key Points:

  • Crypto-based startups received new funding rounds in January 2024 across various sectors.
  • Axiom secured $20 million for its zero-knowledge approach to authenticating data on-chain.
  • Portal raised $34 million in seed funding for Bitcoin atomic swaps.
  • HashKey reached unicorn status after raising nearly $100 million in a Series A funding round.
  • The Solana Foundation chose Colosseum to manage its accelerator program, providing a $250,000 investment to startups.
  • Keyrock invested $10 million in token capital into the Radix public ledger to support ecosystem growth.

Axiom: A Zero-Knowledge Approach to Data Authentication

Axiom, a smart contract platform, has secured $20 million in funding. The platform takes a zero-knowledge approach to authenticate data on the blockchain. This investment will support the development and expansion of Axiom’s technology.

Portal: Seed Funding for Bitcoin Atomic Swaps

Portal has raised $34 million in seed funding for its Bitcoin atomic swap platform. Atomic swaps allow for peer-to-peer cryptocurrency exchanges without the need for intermediaries. The funding will be used to further develop and scale Portal’s technology.

HashKey: Reaching Unicorn Status with Series A Funding

Crypto exchange HashKey has raised nearly $100 million in a Series A funding round, propelling it to unicorn status. The funding will be used to enhance the exchange’s infrastructure and expand its services to cater to a growing user base.

Solana Foundation and Colosseum: Accelerating Early-Stage Ventures

The Solana Foundation has partnered with Colosseum to manage its accelerator program. Startups participating in the program will receive a $250,000 investment to support their growth. This collaboration aims to foster innovation in the Solana ecosystem.

Keyrock and Radix: Supporting Ecosystem Growth

Keyrock, a digital asset market maker, has invested $10 million in token capital into the Radix public ledger. This investment will contribute to the growth of the ecosystem and support the development of projects built on the Radix blockchain.

Hot Take:

Despite liquidity constraints and high-interest rates affecting private investments, the cryptocurrency industry continues to attract significant funding. The range of sectors receiving funding highlights the diversity and potential of blockchain technology. By investing in areas such as data authentication, atomic swaps, and ecosystem growth, venture capitalists demonstrate their long-term confidence in the crypto space.

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