City Foundation Financial News

Solana infrastructure startup Helius raised $9.5m in a Series A funding round, with Foundation Capital leading the investment.

startup Kombai has raised $4.5 million in a seed round led by Stellaris Venture Partners and Foundation Capital, the Pune-based company said on Tuesday. The funding also saw participation from some chief technology officers and software startup executives as angel investors. Kombai, founded by two former Mindtickle senior executives, said it will use the capital to continue investing in research and development, accelerate improvements to its base models, build compatibility with a range of libraries and frameworks used by developer teams and elevate the developer experience around the product. The company builds new artificial intelligence models that can understand and code user interface (UI) designs like humans. It is also set to launch its public research preview on Wednesday. With a mission to make frontend development more efficient for the 5 million frontend and 15 million fullstack developers around the world, Kombai lets developers with design files get production-quality UI code with just one click per component. The UI code can then be downloaded or copied into integrated development environments, modified and incorporated in codebases. User experience (UX) has become increasingly important for businesses, because of which user interfaces have become more and more sophisticated, leading to increased demand and complexity of frontend development, Kombai cofounder and CEO Dipanjan Dey said. “Developers still spend a significant amount of their working time, ranging from 25% to 75%, on procedural code such as styles (CSS), DOM (HTML), and framework-specific boilerplate,” Dey said.

Layer-1 network ZetaChain has secured $27 million to support its chain-agnostic platform, according to an announcement on Aug. 16. Participants in the round include Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, Krust, and other investors.

London-based digital asset protection firm, Coincover, has secured $30 million in a funding round led by Foundation Capital, with a follow-on investment from CMT digital. 

The ride-sharing industry is poised for another paradigm shift with Web3 protocols, allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications.

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Binance's U.S. unit valued at $4.5 billion in seed funding round

Binance​.US, the American partner of Binance, the world’s largest cryptocurrency exchange by trading value, has completed its first-ever external funding from investors like Circle Ventures.

Metaverse startup Portals has raised fresh funds to finance its browser-based metaverse that allows people to enter without virtual reality (VR) equipment.