By Kapil Rajyaguru
AI Startup Truefoundry Secures $19mn In Series A Round Led by Intel Capital
Truefoundry, an enterprise platform for machine learning and AI, has secured $19 million in a Series A round led by chipmaker Intel’s investment arm, Intel Capital. Existing investors including Peak XV’s Surge also participated in the round.
The California-based startup, which also has an office in Bengaluru, said the round saw participation from existing New York-based investor Eniac Ventures and new investor Jump Capital. Several angel investors including Gokul Rajaram, Mohit Aron, Cyan Banister and executives from various Fortune 1,000 companies joined the round.
With the latest round of financing, the startup has raised $21 million in a mix of venture and angel funding to date.
The fresh funding will enable Truefoundry in developing a universal platform to build and deploy AI applications with zero infrastructure hassles and enable the expansion of its team and double down its customer acquisition efforts.
Token Trading Infrastructure Provider Reservoir Raises $14mn In Series A Funding
Reservoir, a crypto infrastructure startup that enables token trading for apps across blockchains, has raised $14 million in a Series A funding round.
Union Square Ventures led the round, with participation from Coinbase Ventures, Variant, Archetype, 1kx and others. As part of the deal, Nick Grossman, a partner at Union Square Ventures, joined Reservoir’s board, Reservoir co-founder and CEO Peter Watts told The Block.
The Series A funding round brings Reservoir’s total capital raised to $26 million. The startup previously raised $10 million in a seed round led by Archetype in late 2022 and $2 million in a pre-seed round led by Variant in 2021.
ZK Identity Project Holonym Acquires Gitcoin Passport For $10mn
Holonym Foundation, a zero-knowledge (ZK) digital identity project, is expanding its network through the acquisition of the identity verification platform Gitcoin Passport. Holonym has acquired Gitcoin Passport in a $10 million deal to scale its decentralized identity (DID) tools as part of its Human.tech suite.
The acquisition, finalized in late 2024, combines Gitcoin Passport’s proof-of-humanity system with Holonym’s Human Network, which leverages ZK technology for privacy-focused onchain reputation.
As part of the acquisition, Gitcoin Passport will rebrand to Human Passport to better reflect its status as a proof of humanity (PoH) solution, which enables individuals to verify their identity without disclosing sensitive personal data.
Mechanism Capital Leads $4mn Seed Round For Web3 Development Studio Mirai Labs
Mechanism Capital led a $4 million funding round for Mirai Labs, which makes up the firm’s total funding to date.
Oak Grove Ventures, Sophon Foundation, Selini Capital, Bitscale Capital, Manifold, Rubik Capital, Protagonist, Lhava and other investors supported the round, according to a release shared with The Block.
Mirai Labs is developing a crypto-focused AI agent product called Partnr.
Partnr lets AI agents execute consumer-facing crypto tasks such as managing wallets, learning the user’s needs over time.
The firm plans to bolster its team of engineers, specializing in AI, machine learning and programming language Rust, with its fresh financing, in addition to launching Partnr Vaults publicly in the near future.
Ethereum Security Platform Drosera Raises $3.25mn In Funding, Brings Total Funding To $4.75mn
The Ethereum security platform Drosera raised $3.25 million in fresh financing, bringing the firm’s total funding raised to $4.75 million.
Greenfield Capital led the round, which saw additional support from Anagram, Paper Ventures, Arrington Capital, UDHC and Pulsar.
The firm builds out smart contract infrastructure called “Traps,” which detects and cancels out threats on the Ethereum network.
Drosera plans to use the funds raised to continue developing Traps, invest in growing its community, and research expanding onto other EVM-compatible chains. In addition, Drosera plans to prepare for the launch of its mainnet in the second quarter of this year.
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