- Chaos Labs Raises $55 Million
- Sahara AI Raises $43 Million
- Sling Money and Essential Secure $26 Million
This week saw over $130 million raised across various crypto VC funding rounds. Here's a breakdown of the activity from Monday, Aug. 12 through Saturday, Aug. 17.
Chaos Labs Raises $55 Million
On-chain risk management company Chaos Labs raised $55 million in a series A round. Haun Ventures led the effort, with Lightspeed Venture Partners, F-Prime Capital, and Wintermute also participating. According to the Chaos Labs team, the project has tripled its customer base over the past year, including more than 20 protocols like Aave and GMX. The platform has achieved $860 billion in cumulative trading volume and $25 billion in loans. The funding will be used to enhance real-time, contextualized risk management for DeFi protocols.
Sahara AI Raises $43 Million
Decentralized AI blockchain platform Sahara AI grabbed headlines by securing $43 million in funding co-led by Binance Labs, Pantera Capital, and Polychain Capital. Notable investors like Samsung, Sequoia Capital, and Matrix Partners also contributed. Since its founding in April 2023, Sahara AI has grown rapidly, partnering with over 35 tech giants including Microsoft and Amazon. The funding aims to create a more equitable decentralized AI ecosystem.
Sling Money and Essential Secure $26 Million
Fintech startup Sling Money collected $15 million in a series A round led by Union Square Ventures, Ribbit Capital, and Slow Ventures. The Sling Money platform uses stablecoin technology to enable money transfers across more than 50 countries in Europe and Africa. Essential, the company behind the first declarative blockchain, secured $11 million in a series A round led by Archetype. The funding will help accelerate the development of its blockchain for outcome-based interactions in web3.
This week has been successful for crypto startups, securing substantial amounts for their projects. Leading companies like Chaos Labs and Sahara AI have received major funding, highlighting strong investor interest in blockchain technology and decentralized AI.
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