Funding Roundup: a16z announces Crypto Startup Accelerator participants

If it feels like Andreessen Horowitz (a16z) has been dominating crypto venture funding recently, there’s a reason.

This week, a16z announced the latest cohort for its Crypto Startup Accelerator (CSX), featuring 21 startups from around the world. The projects focus on everything from AI to layer-1 solutions, and are all set to converge in New York.

I’m excited to announce the 21 startups we’ve selected to join our Crypto Startup Accelerator (CSX) Fall 2024 cohort, which starts this week.

Over the next 8 weeks, they’ll get firsthand lessons from top crypto founders, receive guidance and support from @a16zcrypto’s investing… pic.twitter.com/KEwcgo93o6

— Jason Rosenthal (@jasonrosenthal) September 9, 2024

I want to talk about just two of the 21 this weekend. I’m highlighting PIN AI, which also announced a $10 million pre-seed round. The project plans to launch an open platform for personal AI. 

Read more: Funding Roundup: a16z backs Story’s $80M raise

“PIN AI converges AI and crypto in meaningful ways, offering a privacy-focused, on-device AI assistant that democratizes on-device intelligence for all of us,” the project’s post said.

A16z, of course, took part in the round. Hack VC, Foresight Ventures and Nomad Capital were among other investors.  

We are excited to announce that PIN AI has raised $10M in pre-seed funding to launch the world's first Open Platform for Personal AI.

PIN AI converges AI and Crypto in meaningful ways, offering a privacy-focused, on-device AI assistant that democratizes on-device intelligence… pic.twitter.com/zaqgizisKc

— PIN AI (@PINAI_IO) September 9, 2024

Another one on Startup Accelerator’s list is Blocksense, which announced a $4 million raise.

The project’s goal is “redefining decentralized data infrastructure.”

Permutation led the round, with Tykhe Block Ventures and others participating in the pre-seed round. 

“Blocksense’s approach to oracle solutions is poised to dismantle the monopolistic structures currently dominating the industry. By leveraging cutting-edge zero-knowledge cryptography, Blocksense offers an unmatched combination of cost efficiency, scalability and security,” Blocksense said in a press release.

Other notable rounds:

• DRiP said it raised $8 million in seed funding. NFX led the round, with participation from Coinbase Ventures and Progression.
• IN1, a fintech startup which focuses on both fiat and crypto, said it raised $6 million in a seed round. Brainstorm was disclosed as one of the investors in the round.
• Fountain announced a $3.5 million seed round. Foundation Capital, Primal Capital and Druid Ventures all took part in the round.
• Real-world asset tokenization platform OpenEden announced it received an investment from Binance Labs. The amount wasn’t disclosed.

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