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If you’ve been following the world of blockchain games, you’d know that Ronin Network – the Ethereum sidechain of popular crypto game Axie Infinity – recently suffered a security breach that resulted in losses of US$620 million in total.
Sky Mavis, Axie Infinity’s parent firm, has raised US$150 million – one of the biggest fundraises seen in Asia this week – to reimburse users after the hack.
However, the incident has understandably cast a shadow of doubt over the sector, as the challenges blockchain faces around security continue to concern customers and investors alike. What lies ahead for the world of blockchain gaming? Only time will tell.
Image credit: Timmy Loen
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&As that recently took place.
The biggest deals by country
🇮🇳 VerSe Innovation: The firm behind India’s Dailyhunt, a news and local language curated content application, has raised US$805 million in a series J round from Baillie Gifford, Canada Pension Plan Investment Board, Luxor Capital, Sofina, Sumeru Ventures, and The Ontario Teachers’ Pension Plan.
🇻🇳 Sky Mavis: The Vietnam-based parent firm of blockchain-based game Axie Infinity has raised US$150 million in series C money from Andreessen Horowitz, Animoca Brands, Binance, Dialectic, and Paradigm.
🇮🇱 Beewise: A robotics-driven beehive maker from Israel, Beewise has bagged US$80 million in a series C round led by Insight Partners.
🇨🇳 Micro Connect: The Chinese new market infrastructure and fintech platform has raised US$70 million in series B money from ABC International Holdings, Ausvic Capital, Horizons Ventures, Keywise ARCHina Fund, Lenovo Capital, and Sequoia Capital.
M&A’S
Startups that are raising funds
Killer pitch decks
Exclusive listicles
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