Crypto VC funding: Figure leads with $200m raise, Ethena Labs nabs $100m

The final week of February 2025 saw Figure secure $200 million for its asset management platform.

Crypto.news collected data from Crypto Fundraising and discovered that the week’s funding reached nearly $500 million across multiple sectors. There were major investments targeting DeFi infrastructure and asset management solutions; here they are:

Figure, $200 million

• Raised $200 million in an unknown round
• Backed by Sixth Street Partners
• Figure is building asset management and banking solutions
• The project has raised $1.72 billion so far

Ethena Labs, $100 million

• Secured $100 million in private funding
• Backed by Franklin Templeton, Polychain Capital, and Pantera
• It received an additional $16 million in funding from MEXC Ventures in the same week
• Ethena Labs is creating DeFi solutions on Ethereum
• It has raised over $136.5 million to date

Bitwise, $70 million

• Bitwise raised $70 million in an unknown round
• The project is backed by Electric Capital, MassMutual Ventures, and MIT Investment Management
• Bitwise is building asset management solutions
• The project has raised $87 million so far

Raise, $63 million

• Raise secured $63 million in strategic funding
• The project is backed by HAUN, Paper, and Selini
• Raise is creating marketplace and payment solutions

Aurum, $12 million

• Aurum has secured $12 million in an unknown round with $100 million FDV
• The project is combining AI with asset management

Orochi Network, $12 million

• Raised $12 million in seed funding
• The funding was backed by Presto, Smape, and Anti Capital
• Orochi Network is building infrastructure with zero-knowledge technology

Geodnet, $8 million

• Geodnet secured $8 million in strategic funding; raised $15 million so far
• Backed by Meld.cap and DACM, the startup aims to create IoT data service infrastructure

Notable crypto VC funding rounds under $8 million

• Mavryk Network raised $5.20 million for L1 real-world assets
• Imua secured $5 million for AI security on L1
• Shaga gathered $4 million for Solana gaming
• Ligero Inc. raised $4 million with $20 million FDV for privacy security
• Finisterra Labs secured $3.75 million for data analytics
• Meebit Company, FanTV, and Byzantine Finance each raised $3 million
• Tenor Labs gathered $2.50 million for DeFi lending
• Memes Lab secured $2.30 million for TON memes
• Aegis raised $2 million for DeFi stablecoins
• Torch Finance gathered $1.50 million for TON DEX
• Endless and EthicHub each secured $1 million
• Vortex raised $893,000 for DeFi infrastructure
• Morpheus Labs secured $430,000 in Series A for AI infrastructure