Crypto startups raised $107.6 million between July 28 and August 3, led by Morpho’s $50 million strategic round. The funding wave included significant investments in DuelNow and Daylight.
Morpho, specializing in decentralized crypto lending, secured $50 million from Ribbit Capital, a16z, and Coinbase Ventures. This funding will enhance Morpho’s decentralization and global growth. DuelNow, a decentralized sports betting platform, raised $11 million, with $10 million from GEM Digital Limited and $1 million from angel investors like Charlie Lee. Daylight, focusing on decentralized physical infrastructure networks (DePIN) for energy distribution, collected $9 million in a series A round led by a16z Crypto.
The standout feature is Morpho’s evolution from an optimization layer for Aave and Compound to a comprehensive lending protocol with built-in risk management. This positions it uniquely in the decentralized finance (DeFi) space.
Hyperbolic Labs, an AI infrastructure startup, secured $7 million to develop a platform aggregating idle GPU resources globally, democratizing AI access. Additional noteworthy investments include Pichi Finance with $2.5 million and Raad Labs with $2.25 million.
These investments collectively signal a robust strategic push towards decentralization and innovation in the blockchain and AI sectors, promising significant long-term advancements.
