Dragonfly Capital Leads $16 Million Funding Round for Codex – A Funding Boom at the Intersection of AI and Blockchain
The past week has seen a surge in funding for startups operating at the intersection of artificial intelligence (AI), blockchain, and fintech – with names like Codex, Ambient, Cambrian, Mahojin, and more emerging in notable funding rounds.
Codex – Leading the Race with $15.8 Million From Dragonfly Capital
The most notable project is Codex, an emerging startup in the field of AI and blockchain, which has successfully raised $15.8 million in seed funding. Dragonfly Capital is the lead investor, contributing a large amount of about $14 million, according to Fortune.
In addition to Dragonfly, the round also saw participation from the “big guys” in the crypto ecosystem such as:
Coinbase Ventures
Circle Ventures
Cumberland
Wintermute
Selini Capital
This investment marks a major step forward for Codex in its journey to build a globally scalable blockchain AI solution.
Other Notable Funding Rounds
Ultra
NOIA Capital (Luxembourg) led the round through its digital asset fund.
Also announced Gus van Rijckevorsel as its new CEO.
The9
Successfully raised $8 million through a private placement of shares for:
Elune Capital
Fine Vision Fund
Bripheno Pte. Ltd.
Class A common shares are issued based on the average price of the last 30 sessions, with a lock-up period.
Ambient
AI-blockchain project Ambient raises $7.2M in seed round backed by a16z and Delphi Digital.
Combines Bitcoin-like proof-of-work (PoW) security mechanism with Solana-like architecture to optimize performance.
Cambrian Network
AI-powered decentralized finance protocol raises $5.9M led by a16z's Crypto Startup Accelerator (CSX).
Utilizes combined social and market data (on-chain & off-chain) to support financial decision making.
Mahojin
Raises $5M from CSX and Maelstrom Fund (a16z Crypto) in Series A.
Focuses on developing open-source tools for AI x Blockchain interactions.
Momentum
Enterprise collaboration automation startup raises $5M from Basis Set Ventures, plus notable funds including:
Inovia Capital
Leadout Capital
South Park Commons
Small Rounds (<$5M) Get Attention
Fragmetric is selling tokens via Legion, targeting a $4M cap (diluted valuation of $125M).
Collecto, a luxury investment platform, raises €2.8M (~$3.05M) from LinkedIn, McKinsey, Accenture execs.
Hana Network, a hyper-casual finance platform, raises $1.75M at a $40M valuation.
Bloctopus (formerly LZero) and StakeStone each raise $1M to develop LST/liquidity staking infrastructure.
BAI Fund, an on-chain agency fund in the TEE environment, receives $1 million in funding from Morph and Foresight Ventures.
Conclusion
The funding race in the AI – blockchain – fintech space is becoming more exciting than ever, as traditional and crypto VC funds are pouring in capital. From Codex with nearly $16 million to smaller projects like Cambrian or Mahojin, all are aiming for a future where AI and blockchain are no longer single technologies, but the power couple of global financial innovation.
