
This past week, there was an increased focus on venture capital investment in financial infrastructure services.
Tabit Insurance and Rain collectively raised over $64 million for specialized financial solutions.
According to Crypto Fundraising data, the total funding for the week exceeded $130 million. The data shows that more interest was shown in insurance, payments, and multi-ecosystem development across various blockchain networks.
Tabit Insurance, $40 million
- Tabit Insurance raised $40 million in an unknown round
- The capitalization of the $40 million insurance facility in Bitcoin (BTC) is “an industry first,” with company auditors and regulators able to verify the financing in real time.
Rain, $24.50 million
- Rain secured $24.50 million in an unknown round. The startup has raised a total of $30.5 million so far.
- Norwest Venture Partners, Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka participated in the effort. Existing investors include Lightspeed Venture Partners, Coinbase Ventures, Vinyl Capital, Canonical Crypto, and Latitude Capital
- This investment will enable Rain to enhance interoperability with existing financial systems, broaden its global presence, and advance its stablecoin authorization and settlement infrastructure.
CoreSky, $15 million
- CoreSky has raised $15 million in Series A funding
- The investment was backed by Tido Capital and other investors
- The project is creating meme launchpad on Ethereum (ETH)
Abound, $14 million
- Raised $14 million in an unknown round
- Backed by NEAR Foundation, O Ventures, and Times Internet
- Abound is a cross-border remittance and rewards super app
Chronicle Labs, $12 million
- Chronicle Labs raised $12 million in seed funding
- The investment was backed by Strobe, Brevan Howard, and V.
- The project is building oracle solutions on multiple chains