Introduction

As the Web3 ecosystem continues to grow and evolve, a diverse array of innovative projects and startups are emerging, raising significant funding and garnering attention. In this blog post, we will highlight several intriguing Web3 projects and their recent fundraising efforts, showcasing the wide range of applications and solutions that the decentralized technology landscape has to offer.

Polytrade

Amount raised: $3.8 million
Project overview: Polytrade is a web3 protocol focused on improving global trade by streamlining supply chains through real-time data. Its initial modules include a financing arm that provides working capital financing and invoices for small and midsize enterprises and large corporations.
Additional highlights: The seed round was led by Alpha Wave, Matrix Partners, Polygon Ventures, and CoinSwitch Ventures. Polytrade aims to bring every trade document, financial player, and trade counterparty on chain for improved transparency. The company is targeting a trade financing book size of $50 million in 2023 and plans to expand into Latin American, U.S., and European markets.

Nibiru Chain

Amount raised: $8.5 million
Project overview: Nibiru Chain is a decentralized finance (DeFi) hub that aims to offer user-friendly smart contract applications, providing the ease of a centralized exchange without off-chain settlements or external liquidators. Its initial solutions include Nibi-Perps derivatives platform, Nibi-Swap automated liquidity protocol, and the Nibiru Oracle Module.
Additional highlights: The seed funding round, which valued the startup at $100 million, was co-led by Tribe Capital, Republic Capital, NGC Ventures, and Original Capital. Nibiru Chain will launch its mainnet and stablecoin this summer, and plans to raise funds for a Series A round later this year, targeting a valuation of $200 million to $250 million.

HUG

Amount raised: $5 million
Project overview: HUG is a social marketplace that connects digital art and NFT creators with current and prospective collectors. It offers customizable and shareable profiles for artists, while involving collectors in the curation process and rewarding them with HUG Points. The platform aims to democratize access to art and change how artists get recognized and discovered.
Additional highlights: HUG was founded by CEO Randi Zuckerberg, the creator of Facebook Live and an award-winning Broadway producer. The seed funding round was led by DIGITAL and OKX Ventures, with additional investors including L'Oréal's BOLD corporate venture fund, Venrex, Jae Holdings, Cryptology, Samara, and Aa Sons. HUG plans to use the investment to accelerate product growth and integrate creator-first commerce features with its existing social curation and discovery tools.

Helio

Amount raised: $3.3 million
Project overview: Helio is a London-based Web3 payments platform that enables merchants, dApps, and creators to accept instant crypto payments across multiple blockchains, such as Solana, Polygon, and Ethereum. The platform also offers a paywall feature for individuals who earn a living through platforms and social media.
Additional highlights: Helio was founded by serial entrepreneurs Jim Walker and Stijn Paumen and launched in summer 2022. To date, it has processed over $10 million in payments for more than 900 merchant customers and 35,000 users. The seed funding round, led by Peak and Lightspeed Faction, will be used to grow the sales and marketing teams and develop more partnerships with platforms and marketplaces.

Brassica

Amount raised: $8 million
Project overview: Brassica Technologies is a fintech startup that provides "institutional-grade solutions for the new era of private investing and alternative assets." The platform offers tools that can integrate with any operating system to deliver proprietary technology and unique regulatory licenses, modernizing key banking and investing infrastructure to help enterprises grow and protect customer assets.
Additional highlights: Brassica was co-founded in 2021 by Youngro Lee and Bob Dunton, who were behind the crowdfunding platform NextSeed. The company plans to use the funding to expand its product, engineering, business development, and customer success teams, as well as develop a trust operations team in Wyoming. Brassica Trust Company, a wholly-owned subsidiary, has received a Trust Charter from the Wyoming State Banking Board.

Absolute Labs

Amount raised: $8 million
Project overview: Absolute Labs is a Web3 CRM platform that empowers growth and marketing teams to acquire, engage, convert, and retain customers in the next Internet era. The WRM™ platform allows brands to utilize wallet data on public blockchains to gain deep data insights, build actionable segments, and automate cross-channel campaigns, including NFT air drops and social community engagement.
Additional highlights: The seed funding round included participation from Aglaé Ventures, Alpha Praetorian Capital, The Luxury Fund, Near Foundation, MoonPay, Plassa Capital, Punja Global Ventures, Samsung Next, Sparkle Ventures (Animoca Brands), and W3i. The platform is already being used by companies such as LVMH, MoonPay, The Sandbox, and Mocaverse (Animoca Brands).

Bitmama

Amount raised: Not specified (pre-seed round)
Project overview: Bitmama is a Web3 payment platform created by Nigerian entrepreneur Ruth Iselema, aimed at improving financial transactions and cross-border payments in Africa through the use of cryptocurrency. The platform offers a multi-coin digital wallet, peer-to-peer crypto trading, wallet-to-wallet global transfers, remittances with stablecoins, direct currency conversion, on/off-ramp transactions for traders, asset staking features, and crypto debit cards.
Additional highlights: Adaverse, a joint accelerator initiative by EMURGO Africa and Everest Ventures Group, has joined the pre-seed funding round for Bitmama. Bitmama has plans to integrate Cardano's stablecoin (USDA) when it launches and to partner with other dApps in the Cardano ecosystem.

Franklin

Amount raised: $2.9 million
Project overview: Franklin is a tax compliant hybrid cash and crypto payroll service that aims to streamline payroll processes for businesses worldwide. The platform offers key features such as batched transactions, multicurrency selection, and automated tax filings. It is designed for crypto-native and traditional startups, as well as small and medium-sized businesses.
Additional highlights: Franklin is the second company to spin out of Serotonin, the leading web3 marketing firm and product studio. It is currently live on Ethereum Mainnet and Polygon, and supports crypto payments for teams both in the U.S. and internationally. The funds raised will be used to develop the Franklin product suite and integrate it with strategic partners to disrupt the payroll industry.

Conclusion

As the world of Web3 continues to grow and evolve, we can expect more innovative startups to make their mark in the space. From financing solutions and DeFi hubs to social marketplaces and payroll services, these projects are pushing the boundaries of what's possible in the decentralized ecosystem. As they raise funds and gain traction, they'll continue to shape the future of finance, commerce, and art, making our digital lives more interconnected, transparent, and efficient.