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.
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.
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.
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.
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.
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