Startups raise $739.5m across 17 deals

Crypto startups raised a hefty $739.5 million across 17 deals during the week of June 22–28, 2025, marking one of the sector’s strongest funding stretches in months, with infrastructure and institutional-focused projects leading the charge.

Topping the list was Kalshi, a regulated prediction market exchange, which closed a $185 million Series C round at a $2 billion valuation. Bitcoin miner Bit Digital followed with $150 million, while institutional blockchain platform Canton Network and DeFi firm World Liberty Financial secured $135 million and $100 million, respectively.

The week’s fundraising column, compiled with the help of Crypto Fundraising, highlights infrastructure and DeFi protocols, as well as renewed investor confidence in core blockchain services and institutional-grade products.

Kalshi

• Kalshi raised $185 million in a Series C round with a fully diluted valuation of $2 billion.
• Paradigm, Sequoia, and Multichain Capital participated in the effort.
• Kalshi has raised a total of $215.15 million so far.

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Bit Digital

• Bit Digital secured $150 million.
• The company focuses on Bitcoin mining across Canada, the U.S., and Iceland.

Canton Network (Digital Asset)

• Canton Network collected a $135 million in an unknown round, bringing funds to $397.2 million.
• The investors include DRW Venture Capital, Tradeweb, and BNP Paribas.
• Canton Network is a public Layer-1 blockchain especially for institutional finance.

World Liberty Financial

• World Liberty Financial gathered $100 million in an unknown round, bringing total funds to $715 million.
• WLFI token focus on DeFi, Ethereum Ecosystem, Lending/Borrowing, and yield aggregators.
• Aquant participated in the latest investment.

Zama

• Zama now has $130 million in funds, thanks to the latest $57-million Series B investment.
• The startup has a fully diluted valuation of $1 billion.
• The latest round included investors Pantera and BlockChange. The project is operating in the infrastructure and Privacy sectors and focuses on state-of-the-art Fully Homomorphic Encryption (FHE) solutions.

Niural

• Niural, an AI-native Professional Employment Organization (PEO) and HR platform, nabbed $31 million in a Series A round.
• The latest investment was backed by Marathon Digital, M13, and Inspired Capital.

Projects < $30 million

• Veda, $18 million in an unknown round
• The Global Token Exchange (GTE), $15 million in a Series A round
• Concrete Protocol (Blueprint Finance), $9.5 million in an unknown round
• Spekter Games, $5 million in a pre-seed round
• dKloud, $3.15 million in an unknown round
• Inference Labs, $3 million in an unknown round
• Makina, $3 million in a strategic round
• Sphinx Protocol, $2 million in a pre-seed round
• Byzantlink, $1 million in a private round
• Twyne, $450,000 in a pre-seed round