Top 10 crypto projects that raised venture capital in September

Crypto fundraising is once again down in September, as in september we made new lows in crypto and had a lot of fear in the market due to recession concerns. With valuations now lower, VCs are now once again interested in participating.

In September 2024, crypto startups raised $668.27 million across 107 unique rounds. These projects span various sectors, such as SocialFi, DeSci and AI, and have secured funding ranging from $1 million to $50 million.

Let's look at the ten most exciting projects that raised capital in Septeber 2024 without further ado.

Trendx

TrendX is a Web3 platform that uses AI to help users track market trends and make smarter trading decisions. By analyzing real-time data, it enables users to identify investment opportunities in both primary and secondary markets. Its AI-powered tools offer insights such as trend discovery and sentiment analysis, making crypto trading more accessible.

The platform’s vision is to empower traders by providing them with the insights and tools they need to navigate the fast-moving crypto landscape. TrendX aims to integrate AI and blockchain technologies to create a seamless, data-driven trading experience. Its mission is to reduce the risks associated with crypto trading by offering advanced analytics and AI-driven tools that help users make more informed decisions.

In September 2024, TrendX raised $5 million in a Series A funding round, backed by major investors like Coinstash and BullPerks. The funds will be used to enhance the platform’s AI features and expand its trading capabilities, supporting its vision of becoming a leader in AI-driven crypto trading.

Puffpaw

Puffpaw is an innovative project that integrates blockchain technology with health-conscious behavior, specifically targeting nicotine addiction. Built on the Berachain blockchain, Puffpaw's goal is to help users quit smoking by using a unique "vape-to-earn" model. Users purchase special vapes that record their smoking habits on the blockchain, and as they gradually reduce their nicotine intake, they are rewarded with Puffpaw tokens. These tokens can be used within the platform to purchase more vape cartridges, creating an ecosystem that incentivizes healthier behavior.

Puffpaw's vision is to offer a decentralized solution to nicotine addiction, transforming the quitting process into something more engaging and rewarding. By leveraging decentralized physical infrastructure (DePIN) and blockchain technology, Puffpaw hopes to create a self-sustaining community of users who reduce their nicotine dependency while benefiting from token rewards. The project’s mission is to blend health, technology, and finance in a way that supports users in overcoming addiction while offering real value in the form of financial incentives.

In September 2024, Puffpaw raised $6 million in seed funding from major investors such as Lemniscap Ventures, Volt Capital, and Spartan. This capital is expected to drive further development of the platform and expand its user base, ensuring that its vision of decentralized, blockchain-driven health solutions continues to grow.

Drip Labs

Drip Labs is a Solana-based creator platform focused on enabling artists and musicians to monetize their work using blockchain technology. The platform allows creators to sell their art and music as digital collectibles using compressed NFTs (cNFTs), which are cost-effective and easy to distribute. Drip Labs also facilitates microtransactions through its in-app currency, Droplets, which users can use to tip creators, making the platform highly accessible for fans and supporters.

The vision of Drip Labs is to make the digital art and music space more accessible and sustainable for creators. Instead of focusing on high-priced collectibles, Drip Labs aims to create a thriving ecosystem where digital assets can be sold at various price points, allowing creators to reach a broader audience. The platform is designed to reduce speculation on NFTs while retaining their core benefits, like verifiable ownership and creator royalties.

In September 2024, Drip Labs raised $8 million in seed funding, with investment from prominent firms like NFX and Coinbase Ventures. This capital will be used to further develop the platform, including launching a mobile app and expanding its user base within the decentralized finance (DeFi) and NFT ecosystems.

Tune.fm

Tune.fm is a decentralized music streaming platform built on the Hedera blockchain. The platform allows artists to earn micropayments in real-time through its native JAM token, rewarding them for every second their music is streamed. This approach aims to give musicians significantly higher earnings than traditional platforms like Spotify, which often offer minimal payouts per stream. Listeners can also earn JAM tokens by discovering and promoting new music, creating an ecosystem where both artists and fans are rewarded for their participation.

The vision of Tune.fm is to revolutionize the music industry by providing a fairer and more transparent compensation model for artists. Its mission is to empower musicians to take control of their revenue streams, enabling them to earn directly from their work without intermediaries taking a significant portion of their earnings. Through blockchain technology, Tune.fm aims to solve the long-standing issues of unfair royalty distribution in the music industry.

In September 2024, Tune.fm secured $50 million in funding from Global Emerging Markets, bringing its total capital raised to $80 million. The new investment will be used to provide liquidity for the JAM token and expand the platform’s features, including its integrated NFT marketplace, which allows artists to create and sell digital collectibles alongside their music

Cork Protocol

Cork Protocol is a decentralized finance (DeFi) project designed to introduce a new financial primitive called "Depeg Swaps." These swaps function similarly to credit default swaps (CDS) in traditional finance but are tailored for pegged crypto assets like stablecoins and liquid staking tokens (LSTs). The goal of Cork Protocol is to provide investors with tools to hedge against risks associated with these pegged assets, particularly when they experience price deviations from their intended value. The platform allows users to hedge, enhance yields, and use assets as collateral, aiming to bring more stability to the DeFi space by offering better risk pricing and management.

Cork Protocol’s vision is to make the DeFi ecosystem more stable and efficient by offering real-time tools for risk management and competitive pricing for pegged assets. Their mission is to provide users, from individual investors to institutions, with the ability to protect their portfolios from price deviations and mitigate cascading risks in the DeFi system.

In September 2024, Cork Protocol raised capital from notable investors such as OrangeDAO, a16z's Crypto Startup School (CSX), and Ideo Ventures. This investment will help accelerate the platform’s development, including its transition to the mainnet, and strengthen its early-stage go-to-market strategy​(

Universial Health Token

Universal Health Token (UHT) is a blockchain-based project designed to incentivize preventive healthcare by rewarding healthy lifestyle choices. Developed by the Force of Good Foundation (FoG) and integrated with the GOQii fitness app, UHT utilizes gamification to encourage users to improve their health. Users can earn UHT tokens through healthy behaviors like regular exercise, completing wellness challenges, and engaging with healthcare professionals. These tokens can be redeemed for exclusive NFTs, event access, and discounted health products and services, creating a rewarding ecosystem for maintaining well-being.

The vision of Universal Health Token is to transform the way society approaches healthcare by making preventive care both accessible and financially beneficial. The project aims to reduce the global burden of chronic diseases by motivating people to adopt healthier habits. By integrating blockchain technology with gamified health initiatives, UHT strives to create a world where individuals are rewarded for prioritizing their health, ultimately leading to a healthier global population.

In September 2024, UHT raised $1.2 million in a pre-seed funding round, led by major investors like Animoca Brands, Polygon Ventures, and the Tezos Foundation. This funding will support the project’s growth and its mission to revolutionize healthcare through blockchain

Daylight

Daylight is a decentralized energy project focused on addressing the rising global demand for electricity by utilizing distributed energy resources (DERs). The platform enables users to connect energy devices, such as smart thermostats, solar inverters, batteries, and electric vehicles, to its blockchain-based system. Through this network, users can earn rewards while contributing to more efficient energy distribution, reducing the need for extensive infrastructure investment.

The vision of Daylight is to create a decentralized energy marketplace that allows for the optimization of energy use and distribution. By leveraging blockchain technology, the project seeks to offer a sustainable and scalable solution to the energy challenges posed by the increasing adoption of electric vehicles and the growing demand for electricity. Daylight’s mission is to provide a decentralized alternative to traditional energy grids, making energy consumption more efficient, environmentally friendly, and cost-effective.

In September 2024, Daylight secured $9 million in a Series A funding round, led by a16z Crypto, with additional participation from Framework Ventures and other notable investors. This capital will be used to further develop the platform’s infrastructure and support its expansion into new markets​

Permissionless Labs Inc

Permissionless Labs is the driving force behind Pipe Network, a decentralized content delivery network (CDN) built on the Solana blockchain. The goal of the project is to disrupt traditional internet infrastructure providers like Cloudflare by allowing users to share their computing resources to expand the network. By contributing their idle computing power, participants can earn token rewards, which helps scale the CDN and improve content delivery speed for end-users. This incentivized model enables the creation of Points of Presence (PoPs) in geographically strategic locations, ensuring that content is delivered faster and more efficiently.

The vision of Permissionless Labs is to create a decentralized and more equitable internet infrastructure by using blockchain technology to power content delivery. Their mission is to empower individuals and smaller players to participate in and benefit from this infrastructure, democratizing internet resources that are usually controlled by centralized providers. The project also aims to provide a scalable and cost-effective solution for real-time applications and high-quality media distribution.

In September 2024, Permissionless Labs raised $10 million in a Series A funding round, led by Multicoin Capital and supported by Robot Ventures and Solana Ventures. The funds will be used to grow the team, scale the network's infrastructure, and launch a private beta and testnet for the Pipe Network

Cudis

Cudis is a health-tech startup that integrates blockchain and AI technology into wearable devices, specifically a smart ring designed to help users monitor their health and wellness. This AI-powered ring tracks various biometric data like sleep, heart rate, calories burned, and more, providing users with a comprehensive dashboard to monitor their progress. What sets Cudis apart from other health wearables is its integration with the Solana blockchain, which enables gamified health challenges. Users are rewarded for meeting health goals, and these rewards can be redeemed for exclusive perks, creating a dynamic incentive system to promote healthier lifestyles.

The vision of Cudis is to revolutionize the way people engage with their health, empowering users by giving them control over their personal health data while using AI and blockchain to provide real-time insights and rewards. Its mission is to use technology to encourage millions of people to adopt healthier habits through a personalized approach.

In September 2024, Cudis raised $5 million in seed funding, led by Draper Associates and supported by various other investors. This funding will enable the company to scale up production, aiming to distribute over 1 million rings, and continue developing its AI coaching and gamification features​

RoOLZ

RoOLZ is a Web3 gaming and entertainment studio that combines blockchain technology with anime content. Built on the TON (The Open Network) and Telegram ecosystems, RoOLZ offers a unique platform where users can engage with digital content, play games, and participate in community-driven activities. The platform allows users to own digital collectibles, NFTs, and interact with animated content, providing a highly immersive and engaging experience.

The mission of RoOLZ is to decentralize entertainment by allowing users not just to consume content but to actively participate in its development and success. By integrating community engagement with blockchain, RoOLZ aims to create a new model for digital content where fans can share in the success of the IP they support. Its vision is to disrupt traditional entertainment models and build a community-focused ecosystem where fans have a say in the direction and ownership of content.

In September 2024, RoOLZ successfully raised $1 million in a private funding round led by investors such as TON Ventures, Yolo Investments, and Contango Digital Assets. The funds will be used to expand the platform's user base, further develop its anime IP, and enhance its Web3 capabilities​

It is encouraging to witness the capital flowing into the early stages of the crypto industry. Sectors that are popular among venture investors tend to become popular among the general public around 12-18 months later. Make sure to explore and utilize these early-stage projects, as you may receive handsome rewards through an airdrop!

That’s it for this month’s top 10 crypto projects that raised funding! If you’d like to receive the next edition, and all our other top content, directly in your inbox, subscribe to our no-nonsense weekly newsletter here!