By Shikha Singh
Mantra Signs $1 bn Deal With DAMAC Group to Launch Tokenized Assets
The team behind Mantra, a layer-1 blockchain for real-world assets, has signed a $1 billion agreement with DAMAC Group, a global investment conglomerate.
This partnership will enable users to tokenize DAMAC Group’s assets starting in early 2025. DAMAC Group, a multi-billion-dollar business with interests in sectors like fashion, data centers, capital markets, hotels, and manufacturing, is based in the UAE and has offices worldwide.
The collaboration aims to enhance accessibility to tokenized assets in the Middle East.
Accel Raises $650 mn Fund to Back Start-Ups in AI, Fintech, & More.
Accel, a global venture capital firm, has raised a $650 million early-stage fund to support disruptive businesses in sectors like AI, fintech, manufacturing, and consumer products.
The firm aims to invest in companies that address evolving market needs, particularly in India, where digital adoption is growing rapidly.
Accel will focus on areas like enterprise and vertical AI, consumer brands catering to tier 2+ cities and Gen Z, fintech infrastructure, and next-gen manufacturing technologies.
The firm believes India is at an economic inflection point, with significant opportunities for founders to build impactful, large-scale businesses.
Movement Labs Layer 2 Ethereum Blockchain Reportedly Seeks $100 mn Raise at $3 bn Valuation.
Movement Labs, the developer of a layer-2 blockchain for Ethereum using Facebook’s Move language virtual machine, is raising $100 million in a Series B round, which will value the company at around $3 billion.
Brevan Howard’s digital asset arm, CoinFund and Nova Fund, will co-lead the round. In April, Polychain Capital led $38 million in Series A funding for Movement Labs, with Aptos Labs providing support.
Founded in 2022, the company aims to address vulnerabilities and inefficiencies in Ethereum’s smart contracts.
Nakamoto Games Secures $10 mn Investment for P2E Expansion.
Nakamoto Games has announced the successful completion of a $10 million funding round, led by Make It Capital, a venture capital firm with operations in Singapore and New Zealand.
The investment will enable Nakamoto Games to expand its blockchain-based P2E ecosystem, focusing on product development, user onboarding, and infrastructure enhancement.
The company plans to scale its operations and attract millions of new players to its platform.
ZKsync-Powered Gaming L2 From iCandy Raises $4 mn in Private Funding.
A ZKsync-powered, gaming-focused layer 2 blockchain called ZKcandy announced today the closure of a $4 million private funding round, with investors including Wemix Pte. Ltd., Animoca Ventures, Spartan Group, Perlone Capital, Presto Labs, Flowdesk, Prometheuz, Lecca Ventures, and Efficient Frontier.
Angel investors and early contributors from Stacks, Analog, Mittaria, Xangle, and Trading Strategies also participated, according to a blog post.
You need to login in order to Like
