Andrena raises $18m, Vessel secures $10m

Several startups have raised significant funding in the past week, including Andrena, Vessel, Cartridge, and Pentagon Games.

Andrena, $18 million

In the largest investment round, which took place last week, US internet service provider Andrena raised $18 million in a Series A round led by Dragonfly Capital.

Notable venture firms participating in the round include Castle Island Ventures, ParaFi, Wintermute Ventures, CMT Digital and 6th Man Ventures.

Andrena has raised approximately $33 million in funding, $15 million of which came from a previous round of funding also led by DragonFly Capital.

The company is developing a decentralized autonomous network protocol called DAWN that aims to help users sell their excess internet bandwidth to a network of providers.

Building on the concept of decentralized physical infrastructure networks, DAWN will provide mesh-based internet access using a network of rooftop-mounted wireless base stations without the need for a central provider.

Andrena did not specify a specific launch date for DAWN.

Ship, $10 million

Zero Knowledge-based decentralized exchange Vessel managed to raise $10 million in a seed funding round held on August 8.

Sequoia Capital led the effort. Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and several angel investors also supported the funding.

⚓️We are excited to announce that Vessel has successfully secured $10 million in seed funding. These funds will be strategically used to:

– Integration of CEX efficiency with DEX transparency
– Increasing liquidity efficiency
– Developing advanced ZKP solutions for DeFi

Our challenges… pic.twitter.com/tzRkMZlnCp

— Vessel (@VesselFinance) August 8, 2024

The capital raised will be used to combine the efficiency of centralized exchanges with the transparency of decentralized exchanges, increase liquidity efficiency, and develop zero-knowledge proof technologies for DeFi.

Vessel Finance describes itself as an emerging decentralized exchange powered by ZK technology and evolving into a full-fledged layer-3 network for decentralized finance.

It aims to blend the efficiency and user-friendliness of CEXs with the transparency and security of decentralized platforms.

Cartridge, $7.5 million

Cartridge, an infrastructure provider specializing in on-chain gaming and autonomous worlds, announced the completion of a $7.5 million Series A funding round on August 5.

Bitkraft Ventures led the round, which included contributions from Fabric, Dune, StarkWare, Primitive, and Ergodic.

The company also introduced Dojo 1.0, an open-source developer toolkit designed to build provably viable games. Along with the funding announcement, Cartridge is supporting several on-chain games scheduled to launch this summer, including Loot Survivor, Paved, and Dope Wars.

In an interview with GamesBeat, Cartridge CEO Tarrence V. said the new capital will expand the team and improve the ecosystem. He noted that the Dojo will provide a framework for developing games entirely on-chain and plans to build games entirely on the blockchain.

Two additional products are also in development: Cartridge Controller, which manages player identity and reputation, and Slot, an execution layer.

Pentagon Games, $6 million

Animoca Brands-backed web3 game developer Pentagon Games has raised $6 million in a funding round with backing from Binance Labs, Polygon, Symbolic Capital (formerly Hyperedge Capital), NFX, Republic, The Spartan Group, and Yield Guild Games.

Led by co-founders Emma Liu and Idon Liu, Pentagon Games has a team with extensive expertise in the web3 industry. The Liu duo have a proven track record of managing communities and projects with up to 1.2 million players, running blockchain transactions, verifying Polygon nodes, and developing some of the earliest web3 games. They are joined by chief publishing officer Hugh Behroozy, who brings over 15 years of experience in film, games, and visual effects.

CEO Emma Liu recently spoke about the company’s vision, saying they are excited to “lead the next generation of gaming.” The company is focused on developing a platform where players can engage with content in new ways and earn rewards for their participation.

Emma noted that with the increasing demand for unique virtual experiences and digital assets, gamers will increasingly turn to platforms that offer these advanced features.

DeAgentAI, $6 million

Web3 AI network DeAgentAI has raised $6 million in a seed funding round led by Web3.com Ventures and Vertex Capital. Other startups backing the round include Higgs Capital, Kernel Labs, Waterdrip Capital, Tido Capital, PANONY, CatcherVC, Goplus, and UXLINK.

DeAgentAI uses advanced AI to provide specialized services across multiple industries. Operating on decentralized platforms like Solana (SOL) and Ethereum (ETH), it has developed a layer of AI workers that integrate AI technology with specialized skills to deliver innovative solutions like financial forecasting and creative writing.

With the backing of investor Vertex Capital, the platform has promised its community that it will continue to launch new products in the coming months.