Crypto VC funding: Gnosis, HQ lead with $14.95 million deal

The crypto funding market saw $73.2 million in total investments during the week of May 11-17, 2025.

During this period, Gnosis HQ’s $14.95 million M&A deal represented the largest transaction. This week, funding was announced across multiple blockchain ecosystems and verticals, focusing mainly on DeFi, gaming, and ecosystem-specific projects.

Here’s a detailed look at the crypto projects that secured funding this week as per Crypto Fundraising data:

HQ.xyz

• German Web3 infrastructure firm Gnosis has acquired Singapore-based on-chain business account platform HQ.xyz in a strategic deal worth up to $14.95 million.
• The transaction includes an initial investment of up to $8.95 million from the GnosisDAO treasury, which was approved by the community in January.
• Gnosis has also committed $6 million in working capital to support HQ.xyz’s expansion. For our feature on Friederike Ernst, co-founder of Gnosis, click here.

Perpl

• The startup secured $8.25 million in an unknown round
• Lead investors include Dragonfly, Erzonia, and Brevan Howard

KYD Labs

• KYD Labs raised $7.1 million in a Seed round
• The funding was backed by CSX, Finality Capital Partners, and Ambush

Turtle Club

XP (Captain Labs)

• The ticketing platform raised $6.2 million in a Seed round
• XP’s funding was backed by BlockChange, Neon, and Reflexive

Projects < $6 million

• Nirvana Labs, $6 million in a Seed round
• TrendX, $5.2 million in an unknown round
• XSY (Unity), $5 million in a Series A investment
• DoubleUp, $4 million with $40 million fully diluted valuation
• Vinanz, $4 million raised in an unknown round
• Giza: $2.2 million in an unknown round for AI, Ethereum Ecosystem, and Infrastructure; gained +15 new investors
• N1 (ex Layer N), $2 million in public sale
• Puffverse, $700,000 public sale with $70 million fully diluted valuation