Follow the Money: Corporate Segment Lull, Kaiko's $57 Million Round, and Several M&A Deals

From September 12 to September 19, 2026, the Incrypted editorial team recorded 14 investment deals. Details are known for 10 of them, including the amount of funding. Overall, this week, Web3 projects raised $198.25 million.

Incrypted Infographic.

Venture Deals

This week, there were eight rounds in this category, including:

• $57 million --- Kaiko. The digital asset data provider raised approximately $57 million in an extended Series B round, increasing the total round size from $53 million to $110 million. It was led by S&P Global, with participation from BNP Paribas, Bpifrance, Broadridge, Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, and Susquehanna Private Equity Investments, as well as existing shareholders. The funds will be used to develop Kaiko's core analytics business and expand the infrastructure for on-chain capital markets. The company provides institutional clients with data, indices, and pricing information on digital assets.

• $20 million --- Fin.com. The fintech startup raised $20 million in a seed round led by Expa and Uber co-founder Garrett Camp. They were joined by Coinbase Ventures, Tenet Fund, Figure founders, Mesh founder Bam Azizi, Second Sight Ventures, and other investors. Fin.com is developing a payment infrastructure that connects stablecoins with local banking systems, enabling companies to accept, convert, store, and transfer funds through a single API. The company aims to expand its geographical presence and payment corridors, including through acquisitions.

• $15 million --- dtcpay. The payment company raised an additional $15 million in an extended Series A round, bringing the total round size to $25 million. The initial tranche of $10 million was led by Vertex Ventures Southeast Asia & India, with SBI Group joining through SBI Ventures Asset and the SBI-NTU-Kyobo Digital Innovation Fund. Other investors include Genedant Capital and Kwi Liong Tek. The funds will be directed towards scaling the product line and merchant network, updating the corporate portal, and developing the application. dtcpay creates payment infrastructure for accepting, storing, and transferring stablecoins and fiat currencies.

• $13.25 million --- Tare. The platform raised $13.25 million in a seed round led by Blockchain Capital. It also included participation from Strobe Ventures, Janus Henderson, The Venture Dept, Neoclassic Capital, and Avalanche Foundation, with angel investors such as Aave's Stani Kulechov, Tether co-founder Phil Potter, and others. The funds will be used for further product development, hiring employees, and onboarding new lenders and institutional investors. Tare is building blockchain infrastructure for the private lending market, integrating loan issuance, servicing, and financing into a single system.

• $10 million --- Velocity. In a comment to Incrypted, company representatives announced an extension of the Series A round, bringing the total to $48 million. The funding included participation from Visa Ventures, Circle Ventures, Ripple, Haun Ventures, Translink Capital, and Mirana Ventures. As noted by Velocity CEO Eric Kuithe, the new capital will allow the company to respond more quickly to customer requests. The firm is increasing its commercial team to meet demand from banks and enterprises and is also expanding its licensing scope, he stated.

• About $10 million --- Finloop. The Hong Kong company closed a Series A+ round of over $10 million with participation from HSBC and People's Capital. The funding will enable continued development of solutions in capital management, artificial intelligence, and tokenization of real assets. Finloop is a platform focused on financial institutions and corporate clients that combines traditional tools, digital assets, and RWAs.

• $2.5 million --- Deadstock. The developer of the ATH Labs platform has raised $2.5 million in a seed round led by Bullish Capital. An unnamed group of angel investors also participated. The funds will be directed towards the public launch of Deadstock, expanding storage and procurement operations in Japan, as well as developing infrastructure for custody, oracles, and tokenization. Deadstock is an on-chain marketplace for trading collectible cards, where physical assets are stored with a custodian and receive a digital twin on the Arbitrum network.

It is also noted that some projects do not disclose deal details. This week, there was only one such case:

• tZERO. The company closed a funding round led by Mark and Max Kohodes. Participants included Intercontinental Exchange, Bill Fleckenstein, and tZERO partner Dinari, while Neighborhood Intelligence committed to invest after the company announced a certain strategic deal. The funds are intended for further commercialization and expansion of tZERO's infrastructure for tokenized financial markets. The company provides regulated solutions for tokenization, custody, trading, and servicing of digital securities and other assets.

Token Sales

During the specified period, we recorded only one such case, namely:

• $500,000 --- Gno.land (GNOT). The project raised $500,000 within the IEO on KuCoin Spotlight. During the token sale, 7.75 million GNOT were distributed at a price of $0.0645 per token with full unlocking after the sale's completion. Gno.land is an L1 blockchain from NewTendermint for launching smart contracts and decentralized applications in the Gno language, which is based on Go.

Infographic Incrypted.

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Corporate Deals and Placements

During the specified period, there was a lull in this sector. We identified only two deals in the mentioned category, namely:

• $40 million --- USD.AI (CHIP). The project raised $40 million through a revolving credit line from K3 Capital. The financing is secured by sUSDai tokens and can be reused multiple times after debt repayment. The funds will be directed towards launching new credit products and maintaining short-term liquidity. USD.AI is developing on-chain infrastructure for financing AI companies against GPU and other computational assets.

• $30 million --- Evernorth. The company has agreed to raise $30 million through a private placement of convertible senior PIK bonds with a 4% interest rate and maturity in 2031. The buyer will be NH Investment & Securities as the trustee manager of Kyobo AIM Corporate Finance General Private Investment Trust No. 3. The closing of the financing depends on the completion of the merger agreement between Evernorth and Armada Acquisition Corp. II, which is expected in Q4 2026. Evernorth is developing a public treasury company focused on XRP and plans to use the capital to participate in the asset ecosystem and develop related infrastructure.

Mergers and Acquisitions

This week, we recorded several deals in this category. Among them are the following projects:

• OpenZeppelin. S&P Global has agreed to acquire the company OpenZeppelin. After the deal is completed, it will continue to operate as a separate division under the leadership of CEO Damian Brener. The acquisition is expected to strengthen S&P Global's focus on assessing risks of digital assets and help develop tools for analyzing the security of on-chain infrastructure. OpenZeppelin specializes in auditing smart contracts and developing solutions for their secure creation, including the widely used OpenZeppelin Contracts library.

• Nomina (NOM). The research organization IRF has acquired the Nomina project along with its technologies, intellectual property, brand, and infrastructure. A key asset of the deal is SolverNet — a protocol for executing intentions that IRF plans to implement in the infrastructure for AI agents interacting with DeFi. The solution enables automation of routing, cross-chain transfers, and gas management, while the Nomina infrastructure has processed over 7.5 million transactions.

• LimeWire (LMWR). The BabyDoge ecosystem has acquired the LimeWire platform. Following the deal, project management has transitioned to Abel Chupor, and the LMWR token retains its role as the native asset of the platform. The new owners intend to focus on tools for content creators, decentralized data storage, and AI services. LimeWire is developing a Web3 platform for creating, distributing, and monetizing digital content.

Accelerators, Grants, and DAO Funding

As with token sales, there were no events in this category this week.

Top Investors

Among the participants in this sector, the venture division of the Coinbase exchange and Mirana Ventures stand out. They each have two rounds, while others have one. Infographic by Incrypted.

What Was in Focus?

This week, two categories emerged as leaders — blockchain services and blockchain infrastructure. Infographic by Incrypted.

It is noteworthy that from September 1 to 12, projects in the Web3 sector raised a total of over $804 million.