---
title: "Kraken bags $42.5m from Optimism, Glow Labs raises $30m"
url: https://diffcoin.com/kraken-bags-42-5m-from-optimism-glow-labs-raises-30m/
description: "This week crypto exchange Kraken has stolen the show with its $42.5 million grant raise from Optimism"
published: 2024-11-02
updated: 2024-11-02
author: "Mila"
site: "Diffcoin"
---

# Kraken bags $42.5m from Optimism, Glow Labs raises $30m

This week, crypto exchange Kraken stole the show with its $42.5 million grant raise from Optimism.

Kraken has disclosed its latest decision to launch Ink, a layer-2 on the Optimism (OP) blockchain. As a part of the deal, Optimism has announced that they will offer $42.5 million, or 25 million OP tokens.

This has brought the exchange’s funds raised to date to $164.8 million. Crypto.news dug deeper into the firms that raised the most capital from Oct. 27 to Nov 2.

Here are the firms that bagged million-dollar amounts during this period, according to data from Crypto Fundraising.

### Glow Labs, $30 million

- Glow Labs is a community-powered platform that aims at ramping up global solar energy adoption.
- The firm raised $30 million from Framework and Union Square Ventures.

### Nillion, $25 million

- Nillion has raised $25 million from investors like Hack VC.
- So far, the decentralized network for secure storage has raised $50 million.

### Ellipsis Labs, $21 million

- The platform that builds sustainable and efficient DeFi protocols has raised $21 million from HAUN.
- Ellipsis Labs has raised a total of $23.3 million to date.

### Chainway Labs, $14 million

- The blockchain infrastructure company focused on Bitcoin, Ethereum, and Zero Knowledge technology has raised $14 million in a Series A round from Founders Fund and other investors.
- Chainway Labs has raised $16.7 million so far.

> Today, we announce our $14M Series A led by [@foundersfund](https://twitter.com/foundersfund?ref_src=twsrc%5Etfw), joined by [@maven11capital](https://twitter.com/Maven11Capital?ref_src=twsrc%5Etfw), [@mirana](https://twitter.com/mirana?ref_src=twsrc%5Etfw), [@erikvoorhees](https://twitter.com/ErikVoorhees?ref_src=twsrc%5Etfw), [@balajis](https://twitter.com/balajis?ref_src=twsrc%5Etfw), [@bitfish1](https://twitter.com/bitfish1?ref_src=twsrc%5Etfw), [@0xMert_](https://twitter.com/0xMert_?ref_src=twsrc%5Etfw) & more.
> 
> This will help us expand Bitcoin from digital gold to an active, programmable asset, with [@CitreaOrigins](https://twitter.com/CitreaOrigins?ref_src=twsrc%5Etfw) driving this expansion 🧵 [pic.twitter.com/DxkgoeLERH](https://t.co/DxkgoeLERH)
> 
> — Citrea (@citrea_xyz) [October 31, 2024](https://twitter.com/citrea_xyz/status/1851994301514825902?ref_src=twsrc%5Etfw)

### Gelato Network, $11 million

- Gelato Network has raised $11 million in a Series A round led by HACK VC.
- The decentralized backend for web3 has raised $23.2 million to date.

### Sapien AI, $10.5 million

- Sapien is a gamified Web3 platform where users play and train AI by completing various challenges.
- The firm has raised $10.5 million in a seed round led by Variant.

### PumpBTC, $10 million

- The liquid staking platform has raised $10 million in a seed round.
- Lead investors include SevenX Ventures, Mirana Ventures, etc.

### BitSmiley, $10 million

- BitSmiley encompasses a stablecoin, a lending platform, and a derivatives protocol.
- The firm raised $10 million from various investors like Nxgen, IBC Group, etc.

### Notable crypto VC funding rounds under $10 million

- Spire Labs raised $7 million in a seed round.
- Alliance Games raised $5 million in a Series A round.
- 81Ravens raised $4.5 million in a seed round.
- Phylax Systems raised $4.5 million in a pre-seed round.
- Nitro Labs raised $4 million in a seed round.
- MagmaDAO raised $3.9 million in a seed round.
- Native raised $2.6 million in a seed round.
- Axal raised $2.5 million in a pre-seed round.
- Streamflow raised $1.9 million.
- Cap Labs raised $1.9 million in a pre-seed round.
- KRNL Labs raised $1.7 million in a pre-seed round.

Have a peek at last week’s column here.

[Source link](https://crypto.news/crypto-vc-funding-kraken-bags-42-5m-from-optimism-glow-labs-raises-30m/)