Second-Largest Thai Bank Creates $100-mn AI Fund
Web3 Accounted for 15% of the Total Fundraising for MENA Region Startups in August 2023. The region raised $101 million across 26 deals, a 6% increase month-on-month in terms of deal value.
Two countries dominated 97% of total fundraising raising: Saudi Arabia the largest recipient of funds a total of $54 million
Kasikornbank, or KBank, which launched a flagship fund to invest in artificial intelligence (AI). The fund, named KXVC, will target AI, Web3 and deep tech startups with a focus on the Asia-Pacific (APAC) region.
The fund will possess a $100-million investment budget with Krating Poonpol, chairman of KBank Business Technology Group, in charge of the enterprise.
Animoca Brands Raises $20 mn to Expand Web3 Identity Project Mocaverse
Animoca Brands, a Hong Kong-based web3 investor focused on gaming and the metaverse, raised $20 million through the issuance of new ordinary shares for Mocaverse, a project that’s building web3-native tools for gaming and entertainment products.
Pahdo Labs Secures $15 mn Series A Funding led by a16z
New York-based game development studio, Pahdo Labs, has successfully raised $15M in a Series A financing round, spearheaded by Andreessen Horowitz (a16z) and participation from Pear VC, BoxGroup, Long Journey Ventures, Neo, and Global Founders Capital.
This follows a previous seed round where the company garnered $2.5M from notable angel investors including Kevin Hartz, Mark Pincus, and Cyan Banister.
Next on the list is very interesting deal….
Range Protocol Closes $3.75 mn Seed Funding Round Co-Led by HashKey Capital and Nomad Capital
Range Protocol announced the successful closing of a $3.75M seed funding round, co-led by HashKey Capital and Nomad Capital and with participation from Spark Digital Capital, Mirana Ventures, Symbolic Capital, Asymm Ventures, and Comma3 Ventures.
Movement Labs raises over $3 mn in pre-seed round and releases movement SDK for Web3
Final deal on our list is…..
Movement Labs that raised $3.4 million in pre-seed funding from a consortium of prominent industry leaders. The funds will empower Movement Labs to expand the implementation and advancement of Move, a programming language specifically designed for smart contracts.
The move incorporates building protective measures against attack vectors such as reentrancy, which was responsible for financial losses of billions of dollars annually for Web3 users.
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