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Web3 & Tech VC Roundup: QuickNode Raises $60M to Reach $800M Valuation

Last Updated: January 11, 2024
Boardroom’s latest Web3 & Tech VC Roundup includes deals from Scythe, Carry1st, MoviePass, Candy Digital, and more.

Web3 and tech startups are kicking off the year strong with nearly $300 million worth of venture capital deals highlighted in this column alone. Gaming, blockchain infrastructure, artificial intelligence, and digital fashion are some of the focus areas getting top VC dollars across the markets.

Let’s take a deeper dive into some of the recent funding deals in Boardroom’s latest Web3 & Tech VC Roundup.

Did Candy Digital Raise $38.5 Million?

Digital collectibles startup Candy Digital raised $38.5 million, according to a regulatory filing dated Jan. 18. The fresh funding could be part of the Series A1 financing that the company closed with its new principal shareholders, Galaxy Digital and ConsenSys Mesh.

The Block first reported the news, but Candy Digital hasn’t confirmed if this is indeed the final tally for its latest funding round. There are 14 investors listed in the filing, including Mike Novogratz, CEO of Galaxy Investment Partners.

On Jan. 4, CNBC was among several outlets to report that Fanatics intended to sell its 60% equity stake in Candy Digital to a group of investors highlighted by Novogratz and Galaxy Digital.

QuickNode: $60M to Build the AWS of Blockchain

Blockchain deployment platform company QuickNode closed a $60 million Series B funding round, bumping its estimated valuation up to $800 million.

QuickNode provides core infrastructure tools for blockchain and decentralized application deployment. Tiger Global, Seven Seven Six Ventures, and QED Investors participated in the company’s latest funding round led by 10T Holdings. QuickNode has raised $105 million to date, including a $35 million Series A in late 2021.

The company will use the Series B financing to expand globally and grow blockchain adoption.

“We want to get to the point where any company that wants to build or interact with blockchain [technology] will use us,” QuickNode Co-founder and CEO Alex Nabutovsky told TechCrunch. “We would like to be the AWS or Azure of blockchain. The industry is very ripe for that, and the production happening is staggering.”

Carry1st: $27M For Gaming Infrastructure in Africa

South Africa-based Web3 company Carry1st closed $27 million in pre-Series B funding from Andreessen Horowitz, Konvoy Ventures, Alumni Ventures, and more. Gaming-focused VC firm Bitkraft Ventures led the funding round.

Launched in 2018, the company develops and published mobile games and interactive content across Africa. Carry1st’s latest funding round comes a year after it closed a $20 million Series A. The gaming company has raised over $50 million in venture capital since its inception.

Carry1st will use the fresh funding to build out its financial infrastructure to support Africa’s bustling gaming content creation network. The company will also be launching its partnership with Riot Games this year, in which it will act as the game distributor’s payments partner in Africa.

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Scythe: $42M for Autonomous Mowers

Scythe Robotics closed a $42 million Series B funding round led by Energy Impact Partners to accelerate the production of its zero-emission autonomous lawn mower. ArcTern Ventures, Alumni Ventures, Amazon’s Alexa Fund True Ventures, Inspired Capital, and more participated in the funding round.

Scythe designed a battery that can power its autonomous mowers to mow all day on a single charge. The company began rolling out its flagship product and first commercial mower, Scythe M.52, in June 2021 to customers in Texas and Florida. Scythe has raised $60.6 million in venture capital since it was founded in 2018.

Other Notable Investments

  • MoviePass closed a seed financing round led by Animoca Brands, with Animoca CEO Yat Siu joining the movie theater subscription company’s board.
  • Web3 infrastructure and hardware company Spatial Labs closed a $10 million seed round led by Blockchain Capital with participation from Marcy Venture Partners.
  • Artificial intelligence voice-focused company SoundHound raised $25 million in equity after laying off 40% of its workforce earlier this month.
  • Web3 entertainment tech studio Sortium closed a $7.5 million seed round with participation from crypto hedge fund Arca.
  • AI entertainment startup Tap. raised $1.8 million in seed funding to keep building out its digital marketplace app that connects movie biz executives and creatives.
  • Digital creator business Goldenset Collective launched this month with a $10 million seed investment backed by Thirty Five Ventures.
  • Digital fashion platform Syky closed a $9.5 million venture round led by Seven Seven Six.
  • Sleepagotchi raised $3.5 million in seed funding for its mobile app that gamifies and rewards users for maintaining healthy sleeping habits.
  • Buy now, pay later startup Tabby closed a $58 million Series B led by Sequoia Capital India and STV at a $660 million valuation.
  • Metahood raised a $3 million seed round led by 1confirmation to build Zillow for virtual real estate.
  • House of Burberry raised $6 million to develop its digital fashion business in the virtual world.
  • Former FTX.US President Brett Harrison raised $5 million from a portfolio of investors, including Coinbase Ventures and Circle, to launch a new crypto startup that would service institutional clients.
  • Corporate VR training platform Gemba closed an $18 million Series A to expand its software to more VR and AR devices outside of Meta Quest headsets.

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About The Author
Michelai Graham
Michelai Graham
Michelai Graham is Boardroom's resident tech and crypto reporter. Before joining 35V, she was a freelance reporter with bylines in AfroTech, HubSpot, The Plug, and Lifewire, to name a few. At Boardroom, Michelai covers Web3, NFTs, crypto, tech, and gaming. Off the clock, you can find her producing her crime podcast, The Point of No Return.