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The sharp increase in global interest rates may have limited investors\u2019 appetite for crypto ventures, but new projects are still flourishing and attracting capital to speed up growth. Data from the Cointelegraph Research Venture Capital Database shows June closed out with a 29.73% decrease in venture capital investments, with just $779.32 million secured in 62 deals, compared to June 2022. However, the overall trend for the year shows a rise in venture capital deals. Cointelegraph\u2019s VC roundup highlights the latest projects striving in this complex and competitive environment.<\/p>\n
Enterprise crypto platform Orbital raised $6.4 million (5 million euros) in a funding round led by venture firm Golden Record Ventures. Additional investors included New Form Capital, GSRV and Luminous Futures. The funding will be used to expand Orbital\u2019s product development \u2014 specifically, blockchain payment infrastructure for traditional businesses. The company allows traditional businesses to accept crypto payments from its customers and convert them into fiat currencies like the U.S. dollar, euro and British pound. The company claims to process $250 million in transactions every month for its clients.<\/p>\n
The project unshETH, a decentralized finance protocol targeting Ethereum staking solutions, closed a $3.3 million seed round in August. The funds were backed by Soma Capital and ICONIQ Capital, along with several other investors, including Fan Zhang, co-founder of Sequoia Capital China. The unshETH protocol encourages competition among Ether (ETH) liquid staking protocols to promote the decentralization of validators. Its omnichain token reportedly supports transfers across different blockchains, including Ethereum, BNB Chain and Arbitrum. The funds will be used to support the development of liquid staking-related features.\u00a0<\/p>\n
\nGM unshETHians! Read about our seed round and latest roadmap updates here:https:\/\/t.co\/o2ow91OKMA<\/p>\n
\u2014 unshETH (@unsheth_xyz) August 22, 2023<\/a><\/p><\/blockquote>\n
Web3 creator ZTX attracts $13M in funding<\/h3>\n
Web3 virtual world platform ZTX recently concluded a $13 million seed round led by Jump Crypto, with participation from several other investors, including Collab+Currency and MZ Web3 Fund. ZTX is a collaborative effort between Jump Crypto and ZEPETO, one of the world\u2019s largest metaverse platforms. Launched in 2022, ZTX has recently introduced its first playtest, an invite-only beta test of its upcoming 3D open-world platform. The freshly raised funds will be used to support the development of Web3 infrastructure for creators in 3D, immersive environments.<\/p>\n
Related: <\/em><\/strong>Crypto Biz: Coinbase-Circle realignment, Binance fiat hurdles and USDC on Shopify<\/em><\/strong><\/p>\n
\n6\ufe0f\u20e3 Blockchain VC investment drops 29.73% in June, with $779.32M in 62 deals. Infrastructure sector leads with $493.1M in 20 deals. pic.twitter.com\/kVRCMYCAaF<\/a><\/p>\n