Crypto VC Funding: Bitdeer Raises $179m, Upexi Bags $100m

The crypto funding sector saw major activity this week with total investments reaching $470.75 million from April 20-26.

Bitdeer Technologies Group secured the largest amount of financing, while several other blockchain and crypto projects also raised capital across various sectors.

Here’s a detailed breakdown of the major funding rounds that closed this week, per Crypto Fundraising data:

Bitdeer, $179 million

• Bitdeer raised $179 million in loans and equity, according to The Miner Mag.
• The Singapore-based technology company specializing in blockchain and high-performance computing.
• The investment was backed by Matrixport (founded by Bitdeer Chairman Jihan Wu).
• As of Friday, April 25, Bitdeer held 1,234.4 Bitcoin (BTC), produced 39.3 BTC, and sold 17.0 BTC.

Upexi, $100 million

• Upexi closed a private placement deal, selling 35.97 million shares and 7.89 million pre-funded warrants at $2.28 each.
• The project focus areas include finance, portfolio management, and Solana (SOL).
• GSR led the investment, joined by top crypto VCs like Big Brain Holdings, Delphi Ventures, and others, along with notable angels. Upexi plans to use $5.3 million for working capital and debt reduction, with the rest allocated to building its Solana treasury and accumulating Solana (SOL).

Alpaca, $52 million

• Alpaca raised $52 million in a Series C round
• This round saw participation from new and returning investors, including Derayah Financial, 850 Management, National Investments Company (NIC), Unbound, and Portage Ventures.
• The funding is expected to help Alpaca pursue continued global expansion, serving enterprise institutions and fintech in key regions like the US, the Middle East, and Asia.

Nous Research, $50 million

• The startup gathered $50 million in a Series A round led by Paradigm, according to Fortune.
• Nous Research focuses on artificial intelligence, DeFi, and infrastructure within the Solana Ecosystem.
• The project has raised $70 million so far.

Symbiotic, $29 million

• Crypto staking protocol Symbiotic clinched $29 million in a Series A funding round led by Pantera Capital.
• Symbiotic, whose permissionless restaking platform went live on Ethereum (ETH) in January, announced the milestone on April 23.
• The funding round also attracted the backing of Coinbase Ventures as well as angel investors, including Aave (AAVE), Polygon (POL) and StarkWare among others.

Theo, $20 million

• Secured $20 million in an Unknown round
• Theo’s investment is backed by Hack VC, Anthos, and Manifold

Projects < $20 million

• Analog: $15 million in Unknown round
• Arch Network raised $13 million in a Series A round
• Tally: $8 million Series A investment
• MagicBlock: $7.5 million Seed funding
• Mask Network raised $5 million in an unknown round
• Inco: $5 million investment
• Catalysis: $1.25 million Pre-seed raise
• Inflow: $1.1 million Pre-seed funding