Allium raises $16.5m, Bima Labs secures $2.25m

While it was a quiet week for crypto venture capital (VC), Allium, Haruko, PEXX, and Bima Labs were among the blockchain and web3 startups that raised significant funding.

Allium, $16.5 million

The largest funding round of the week was announced on July 18, when Allium, a blockchain data platform for enterprises, announced that it had successfully closed a $16.5 million Series A funding round.

The round was led by Theory Ventures, while seed investors Kleiner Perkins and Amplify Partners brought Allium’s total capital raised to $21.5 million.

The culmination of the funding round was the addition of Theory Ventures founder Tomasz Tunguz to the Allium board.

The platform provides companies like Visa, Stripe, and Phantom with tools to manage business reporting, identify growth opportunities, and power applications.

Allium said it plans to use the proceeds from the funding round to improve its data infrastructure and scale its go-to-market efforts to address the exponential growth of blockchain data and the complexity of reporting blockchain activity.

Haruko, $6 million

Haruko announced that it has raised $6 million in a VC funding round co-led by White Star Capital’s Digital Asset Fund and MMC Ventures.

The company, a digital asset investment management platform, said it will use the funds to support strategic expansion into Southeast Asia and recruit top talent.

Founded in 2021, Haruko has quickly established itself in North America and Europe, serving over 50 organizations.

The company offers end-to-end solutions for digital assets. Its portfolio and risk management tools aim to improve the financial sector.

PEXX, $4.5 million

PEXX, a fintech startup specializing in a stablecoin-to-fiat payments platform, announced the completion of a $4.5 million seed funding round on July 16.

Led by TNB Aura, with participation from Antler and EMO Capital, the financing will strengthen PEXX’s engineering and product teams and expand its marketing and business development activities in Southeast Asia.

PEXX bridges the gap between the web3 world and traditional finance by enabling cross-border transfers of stablecoins like USDT and USDC to bank accounts worldwide.

Nirvana Labs, $4.5 million

Closing out the week, blockchain cloud provider Nirvana Labs announced that it has raised $4 million in a seed round co-led by Castle Island Ventures and RW3 Ventures.

Other VC firms participating in the round included Hash3, BitGo Ecosystem Fund, Play Ventures, and Third Earth.

Nirvana Labs raised $1.2 million in another funding round earlier in the year, which means it now has about $5.7 million in its coffers. The company says it will use the money to expand its global connectivity and deepen its product offerings, including web3 cloud monitoring and a managed Kubernetes service.

Additionally, Nirvana Labs said in its X post about the funding round that it plans to launch infrastructure with major web3 foundations like Berachain and NEAR Protocol.

Bima Labs, $2.25 million

The week’s VC funding activity began with Bima Labs, a developer of Bitcoin-backed stablecoins, announcing that it had successfully completed a $2.25 million seed funding round.

Portal Ventures led the round, with contributions from Draper Goren Blockchain, Sats Ventures, and several notable angel investors.

Bima Labs is pioneering USBD (Universal Stable Bitcoin Dollar), a universal stablecoin backed by re-staking Bitcoin (BTC) and usable across multiple blockchains.

The platform integrates with established web2 payment systems, providing users with flexible financial solutions and optimized returns through various cash registers.

“We are excited about the support from our investors, which underscores their confidence in our vision to revolutionize the stablecoin world,” Bima Labs CEO said in a statement following the completion of the funding round.

The company is poised to capture a significant share of the $150 billion stablecoin market by leveraging Bitcoin’s strengths to create a stable and secure financial ecosystem.