Li.Fi Secured $17.5 Million in Series-A Round Led By CoinFund 

• 1 CoinFund and Superscrypt collectively invested $ 17.5 million in Li.Fi data gateway provider.
• 2 Other than Li.Fi, CoinFund has invested in more than 100 companies.
• 3 Li.Fi conducted its Venture Round on July 11, led by 1kx.

On March 30, Li. Fi, a multichain liquidity and data gateway provider, raised $17.5 in a Series-A funding round. The funding was majorly led by CoinFund, a crypto-native investment firm and Superscrypt.

Speaking to a crypto media outlet, Li. Fi CEO Philip Zenter said that the funds received would be used to execute the company’s long-term plans, which aim to enable more users on the web to trade tokens and orders to trade across any chain hassle-free and seamless manner.

Li. Fi conducted its Venture Round on July 11, 2022, led by 1kx, an early-stage investment fund. Some other investors of Li. Fi is Theta Capital, Three Point Capital, Perridon Holdings and many more.

Li. Fi offers an application programming interface(API) that helps developers to develop a prototype and reach the market faster without any interruption.

The trend and need for decentralized finance started reuniting after the collapse of FTX, a centralized exchange co-founded by Sam Bankman Fried. FTX collapse has troubled the entire crypto industry, and its founder is accused of misusing customers’ funds.

According to Crunchbase, CoinFund has invested in more than 110 companies, including Fuel Labs, GoGoPool, Sherlock, Hyperlane, Moon Mortgage, Earn Alliance and many more in the list.

CoinFund has made four diverse investments in leading crypto industry companies such as Magic, Opyn, NEAR and LedgerX. Some lead investments of private crypto asset investors are Intu and GoGoPool.

Major Crypto, Blockchain and Web3 Investments in 2023

Pixelcraft Studios, a Web3 game developing company that developed Aavegotchi, a popular metaverse gaming, raised $30 Million in a Multiyear year token sale; any venture capital did not lead the funding round. Similarly, CCP Games raised $40 million in the first half of March 2023.

OP3N, a Web3 AI-powered platform, raised $28 Million and Alchemy Pay, a Singapore-based payment provider, raised $10 Million at a valuation of $400 Million. Webacy crypto wallet security layer raised $4 Million.

The biggest investment was raised by a popular hardware crypto wallet manufacturer Ledger. The company raised $108 Million in a Series-C funding round; some major investors participated were VaynerFund, Digital Finance Group and True Global Ventures as new investors.

Bitcoin Miner and Blockchain company Blockstream raised $125 Million to expand its mining services. Toku, a crypto payroll startup, raised $ 20 million. A Burlington-based character-developing company Superplastic raised a $ 20 million investment which was majorly led by the Amazon venture arm.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.