- Asylum Ventures and Startup Creation
- Puffpaw Secures $6M for Platform Development
- Other Key Startup Investments
A new venture capital firm in New York City, Asylum Ventures, launches a $55 million fund to support inception-stage startups.
Asylum Ventures and Startup Creation
Asylum Ventures has launched a new $55 million fund to invest in inception-stage startups. Behind the initiative are Nick Chirls, founder of Notation Capital, and Jonathan Wu, a former Aztec Networks growth leader. Based in Brooklyn, the firm plans to invest $1-2 million in pre-seed and seed-stage startups. Wu noted in an interview with Cointelegraph that the fund is looking for projects that have a harder time raising capital and may become popular in the future.
Puffpaw Secures $6M for Platform Development
Puffpaw, a DePIN platform on Berachain, has closed a $6 million seed funding round led by Lemniscap with participation from Volt Capital, Spartan, Folius Ventures, and others. Puffpaw offers a 'vape to quit smoking & earn' model, encouraging smokers to use Smart Vapes with lower nicotine levels and organic components. The funds will be used to develop the first 10,000 pre-order nodes.
Other Key Startup Investments
Permissionless Labs raised $10 million in a Series A funding round led by Multicoin Capital. Infinit secured $6 million for developing DeFi protocol infrastructure. DRiP raised $8 million for its creator engagement platform. Fintech IN1 raised $6 million to integrate fiat accounts and crypto wallets. DeFi.Gold raised $2.22 million for its DeFi platform built on the Bitcoin blockchain.
The Asylum Ventures fund and other recent startup investments highlight the growing support and development of early-stage projects.
