Crypto VC Funding: Verb Technology Leads with $558M Raise, Satsuma Follows with $217.6M

This week's crypto funding saw a total of $1.46 billion across 18 projects, with Verb Technology leading the pack with a $558 million raise, followed by Satsuma Technology's $217.6 million raise. Ripple acquired Rail for $200 million, signaling a push to expand fiat-stablecoin payment rails. AI-blockchain hybrids like Satsuma and OpenMind also drew big checks, underscoring investor appetite for convergence plays in crypto infrastructure and next-gen applications.

This week saw a significant surge in crypto funding, with a total of $1.46 billion invested across 18 projects. The funding round, which took place between August 3 and 9, was marked by substantial investments in blockchain, AI, and payments infrastructure, with institutional heavyweights pouring record sums into these sectors.

Leading the pack was Verb Technology, which raised $558 million in an unknown round [1]. This funding will support Verb Technology's rebranding as TON Strategy Co. (TSC) and its collaboration with Kingsway Capital to implement a treasury strategy specifically for Toncoin (TON). The company aims to become one of the largest holders of Toncoin globally, leveraging staking rewards to enhance its cash flow [2].

Following Verb Technology, Satsuma Technology secured $217.6 million in an unknown round [1]. Satsuma is a UK-listed AI infrastructure company that has raised over $352.6 million so far. The project has drawn significant interest from investors such as Haun Ventures, Pantera, and Blockchain.com [1].

Ripple's acquisition of Rail for $200 million also made headlines, signaling a push to expand fiat-stablecoin payment rails [1]. Rail is a fiat-stablecoin infrastructure platform that powers 10%+ of all B2B stablecoin volume. The acquisition will enable Rail to scale even faster, thanks to Ripple's backing [1].

AI-blockchain hybrids like Satsuma and OpenMind also drew big checks, underscoring investor appetite for convergence plays in crypto infrastructure and next-gen applications. OpenMind, for instance, raised $20 million in an unknown round, focusing on AI, identity, and infrastructure [1].

Other notable projects that received funding include Bit2Me, which gathered $34.86 million in an unknown round backed by Tether, and MANTRA, which secured $20 million in an unknown round backed by Inveniam Capital [1].

These funding rounds reflect the growing interest and investment in the crypto space, particularly in innovative projects that combine AI and blockchain technologies. As these projects scale, they are likely to have a significant impact on the broader crypto ecosystem.

References:
[1] https://crypto.news/crypto-vc-funding-verb-technology-leads-with-558m/
[2] https://bitcoinist.com/verb-technology-ton-treasury-strategy/