According to our research, approximately fifty-three companies raised traditional equity investment in July 2019, and thirty-four of them disclosed financial details of their raises. These thirty-four companies raised over $290M, with the largest raise ($115M) being conducted by Icertis. July saw fourteen more companies than June (39) raise capital and consequently, more companies in July disclosed the financial details of their deals.

A range of notable blockchain and cryptocurrency investors made investments in July. Neo Global Capital made six investments, MultiCoin Capital and Coinbase Ventures made four investments and Binance Labs made three investments. Other major crypto and blockchain funds that made at least one investment in July are NEM Ventures, Digital Currency Group, Pantera Capital, Arrington XRP, BlockVC, Electric Capital, Polychain Capital, Blockchain Capital and Andreessen Horowitz. July also saw many traditional Venture Capital firms and institutions make investments, including Kleiner Perkins, Bessemer Venture Partners, Visa, Shell, Euronext, Airbus Ventures, Lockheed Martin Ventures, Sony Financial Ventures, Nomura Holdings and others.

Icertis, a provider of enterprise contract management in the cloud, announced the closing of a $115M Series E round. The round was co-led by Greycroft and Premji Invest with participation from existing institutional investors. The funds will be used to extend the Icertis Blockchain Framework, the world’s first blockchain framework integrated with an enterprise contract management platform, among other things. If Icertis is discounted (as its blockchain product is one of many products and it isn’t a blockchain specific company), the largest raise was $40M conducted by Anchorage. Anchorage is a firm focused on providing secure digital asset custody solutions for institutional participants. Its Series B round was led by Blockchain Capital and there was participation from Visa and Andreessen Horowitz.

Of the thirty-four companies that disclosed financial details, eight of them raised over $10M and raised $233.5M between them. The remaining twenty-six companies raised $57M between them and had an average raise of $2.2M. Fourteen of the thirty-four companies that raised capital in June are based in the USA, three are based in Canada, three are based in Singapore, and the remaining eleven companies are spread across ten other countries. 44% of the companies that disclosed financial details raised pre-seed and seed rounds, the remainder either raised pre-series A and above rounds or strategic investment.

There were seven IEOs held in July, two were held on Binance and two were held on OKEx. The other three were hosted on Huobi Prime, Tokinex and Bitmax. The largest token sale in July that we recorded was the WINk IEO on Binance which raised $6M by selling 50B tokens through a lottery. July also saw one investment in a company for tokens, Ulysses Capital, which purchased $2M of VNT Tokens in the form of block deals and in-exchange purchases of VNT tokens. VNT tokens are for the VANTA Network, which aims to be the first real-world business application of blockchain technology in the field of real-time communication.

Equity and Token Sale Amounts for Different Industries in July 2019

The graph above displays the distribution of the disclosed capital raised in equity and token sales over various industries. From the graph we can see that Enterprise Solutions have raised the most money in July, but if Icertis is discounted the sector only raised $10M, putting it slightly higher than Financial Services which raised a total of $8.1M. Companies in the Blockchain sector raised just over $52M of which 92.5% were equity raises. This a significant change compared to June as equity raises accounted for 57.6% of the total money raised in the Blockchain sector. The Other category which raised $42.6M, consisted of five companies in the Gaming category and companies in the Ticketing, Data, Carbon Offsetting, HR and Cloud categories. Four out of the fourteen companies in the Other category conducted token sales.

In July we recorded three STOs which collectively raised just under $6M. One was a debt-based security token, one was an equity security token, and one was a tokenized real estate investment fund. The largest of these three was REITBZ, the tokenized real estate investment fund which raised $3.3M on the Tokensoft platform. All three of these STOs raised money from retail investors which explains why the amount raised is quite small. There were also announcements of new STOs in July, Fundament Group was given approval from BAFIN, the German Financial Supervisory Authority to conduct an STO for a real estate portfolio worth EUR 250M and RISE Wealth Technologies also announced a $120M equity STO.

We recorded eight acquisitions in July, only one of which disclosed financial details. Jeffery Berns, the CEO of Blockchains, a blockchain incubator and investment company, acquired Kirkwood Bank of Nevada for $28M. Berns has made this acquisition to ensure financial access and inclusion for blockchain companies. Bittrex, Cosmoschain, Kraken and Perlin are four of the eight acquirers. 50% of the acquisitions were U.S. companies, and 30% of the acquisitions were companies based in England.

Thanks for reading, we hope that you find Deal Flow valuable. If we have missed a deal that you know of, let us know. You can access more data and insights from Brave New Coin. Feel free to share or signup to our newsletter for more insights. See you next month for Deal Flow.

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Equity Capital Raising

Over $300M was raised in traditional equity offerings in July 2019.

01/07/2019 | Ample | Undisclosed | Energy | China

Ample, an app which uses distributed ledger technology to tokenize energy consumption for users, has raised investment from NEM Ventures, the venture investment arm of NEM.

01/07/2019 | EMX | $1,000,000 | Trading & Investment | USA

EMX, a derivatives platform for crypto and traditional assets, announced that it has raised $1M in early-stage financing from Bain Capital Ventures and Skype co-founder Jaan Tallinn. EMX is now in the process of raising another $2M.

01/07/2019 | IDAP | Undisclosed | Trading & Investment | Estonia

IDAP, a cryptocurrency exchange, has raised investment from Sparx Ventures.

01/07/2019 | Tokeny | $5,600,000 | Trading & Investment | Luxembourg

Tokeny Solutions, a compliant tokenization platform, has raised $5.6M (€5M) from Euronext, a pan-European exchange who as a result own a 23.5% stake in Tokeny.

02/07/2019 | Consensys | $10,000,000 | Blockchain | Ireland

Consensys, the Ethereum studio, has raised $10M from SK Group, South Korea’s largest telecom.

02/07/2019 | Mighty Jaxx | $1,580,000 | Gaming | Singapore

Mighty Jaxx, a company building a blockchain-based digitally-authenticated collectibles platform, has raised $1.58M (S$2.15M) in a pre-series A round led by Eight Mercatus with a matching co-investment from SGInnovate.

02/07/2019 | Realblocks | $500,000 | Trading & Investment | USA

Blockchain K2 Corp has invested $500k in RealBlocks, a blockchain investment network providing global access and secondary trading for alternative investments. BlockchainK2’s investment closes off RealBlocks’ seed round financing and adds to previous investments in RealBlocks of $3.1M earlier this year by various venture capital funds, including Science Inc., Morgan Creek Digital, Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures.

02/07/2019 | TicTalk | Undisclosed | Social Media | China

TicTalk, a blockchain-based social media platform, has raised an undisclosed amount of funding from CollinStar Capital.

03/07/2019 | Cere Network | Undisclosed | Enterprise Solutions | USA

Cere Network, a CRM ecosystem platform being built on a blockchain, announced that it has received strategic funding from Binance Labs, Arrington XRP Capital, and NEO Global Capital to launch its blockchain Customer Relationship Management (CRM) and Customer Data Platform (CDP) ecosystem.

03/07/2019 | NKN | Undisclosed | Blockchain | China

NKN, a decentralized network powered by a public blockchain has raised a strategic investment round from BlockVC, a $200M crypto M&A Fund.

04/07/2019 | Boltt Protocol | Undisclosed | Blockchain | India

Boltt Protocol, a startup building a blockchain-based health gamification platform, has raised an undisclosed amount of funding from LD Capital.

06/07/2019 | Provenance Blockchain | Undisclosed | Blockchain | USA

A division of Tokyo-based Recruit Holdings Co. Ltd., one of the world’s largest staffing providers, announced an investment in Provenance Blockchain, via their RSP Blockchain Tech Fund Pte. Ltd.

10/07/2019 | Anchorage | $40,000,000 | Cryptocurrency | USA

Anchorage, a firm focused on providing secure digital asset custody solutions for institutional participants, has raised $40M in a Series B round. The round was led by Blockchain Capital and there was participation from Visa and Andreessen Horowitz.

10/07/2019 | LO3 Energy | Undisclosed | Energy | USA

LO3, a New York startup aiming to use blockchain technology to make it easier for individuals to buy and sell locally produced energy using the existing network of power cables, has raised an undisclosed amount of funding from Sumitomo Corporation Group and Shell.

10/07/2019 | Marlin Protocol | $3,000,000 | Blockchain | USA

Marlin Protocol, a startup aiming to improve speeds across multiple chains, has raised $3M in a seed round from Binance Labs, Arrington XRP, Electric Capital, NGC and other investors.

10/07/2019 | Near | $12,100,000 | Blockchain | USA

Near, creators of NEAR Protocol, a developer-friendly platform for building decentralised applications, announced the completion of an oversubscribed $12.1M venture round led by Metastable and Accomplice and with participation from Electric Capital, Pantera Capital and Amplify Partners. Other notable investors include Multicoin Capital, A Capital, Coinbase Ventures, IDEO Colab Ventures, Scalar Capital and Ripple’s Xpring. Notable angels include Naval Ravikant, Andrew Keys and Balaji Srinivasan.

10/07/2019 | Sia | $3,500,000 | Storage | USA

Nebulous, the creators of the Sia network for decentralised storage, have closed a $3.5M pre-series A funding round led by Bain Capital Ventures, with participation from Bessemer Venture Partners and Dragonfly Capital Partners.

10/07/2019 | Torus | $2,000,000 | Blockchain | Singapore

Torus, a startup building a gateway to the decentralized ecosystem, has raised $2M from some of the most strategic investors in crypto. The round was led by Multicoin Capital with participation from Binance Labs, Accomplice, Coinbase Ventures, Sixth Horizon, and Terminal.

11/07/2019 | DeepCloud AI | Undisclosed | Cloud | Singapore

DeepCloud AI, a decentralized cloud computing platform that uses an Artificial Intelligence matching-algorithm to pair Resource Providers with Network Users, has raised strategic investment from LD Capital.

11/07/2019 | Travala.com | Undisclosed | Travel | England

Travala.com, a blockchain-based accommodation booking platform, has raised investment from NEO’s EcoFund.

11/07/2019 | Ramp | $1,675,000 | Cryptocurrency | Poland

Ramp, a startup offering fiat to crypto onramp services, has raised a $1.68M (€1M) pre-seed round from MakerDao, Seedcamp, Fabric Ventures, and Firstminute.

12/07/2019 | Textile | $1,500,000 | Data | USA

Textile, a startup focusing on personal data storage using blockchain, has raised a $1.5M seed round, led by BlueYard and including Collaborative Fund, Multicoin, SystemOne, Coinbase Ventures, Starchain Capital, Jesse Clayburgh, Henri Stern, and others.

15/07/2019 | Altonomy | $7,000,000 | Trading & Investment | USA

Altonomy, a trading desk and market maker for cryptocurrency assets, announced that it has closed a $7M seed round led by Polychain Capital and 7 Blocks, a Singapore-based investment fund.

16/07/2019 | Abend | $100,000 | Ticketing | Germany

Abend is a cashless, user-friendly, on-site payments platform targeted to the music events segment, whose prototype is already running on the æternity blockchain. They have received $100K in funding as one of the four winning startups of the aeternity Starfleet program.

16/07/2019 | Cryptotask | $100,000 | HR | Croatia

Cryptotask is building a user-friendly, decentralized freelancing task market on the æternity blockchain. They have received $100K in funding as one of the four winning startups of the aeternity Starfleet program.

16/07/2019 | Cryptic Legend | $100,000 | Gaming | Serbia

Cryptic Legend, is a blockchain-based card game using the æternity blockchain. They have received $100K in funding as one of the four winning startups of the aeternity Starfleet program.

16/07/2019 | Homeport | $100,000 | Blockchain | Bulgaria

Homeport is an open marketplace for data storage based on smart contracts on the æternity blockchain. They have received $100K in funding as one of the four winning startups of the aeternity Starfleet program.

16/07/2019 | DUST Identity | $10,000,000 | Enterprise Solutions | USA

DUST Identity, pioneers of the first diamond unclonable security tag for supply chain security and end-to-end tracking using distributed ledger technology, has raised $10M in Series A funding led by Kleiner Perkins including strategic investors Airbus Ventures and Lockheed Martin Ventures. New Science Ventures, Angular Ventures, and Castle Island Ventures also participated in the round.

17/07/2019 | Horizon Blockchain Games | $3,750,000 | Gaming | Canada

Horizon Blockchain Games, a video game studio and blockchain infrastructure company, has raised $3.75M in a seed round, led by Reddit co-founder Alexis Ohanian’s venture fund, Initialized, with participation from Golden Ventures, Polychain, Coinbase, Digital Currency Group, and Inovia Capital.

17/07/2019 | Icertis | $115,000,000 | Enterprise Solutions | USA

Icertis, a provider of enterprise contract management in the cloud, announced the closing of a $115M Series E round. The round was co-led by Greycroft and Premji Invest with participation from existing institutional investors including B Capital Group, Cross Creek, Eight Roads, Ignition Partners, Meritech Capital Partners and PSP Growth. The funds will be used to extend the Icertis Blockchain Framework, the world’s first blockchain framework integrated with an enterprise contract management platform, among other things.

17/07/2019 | OceanEx | Undisclosed | Trading & Investment | China

OceanEx, an Asian cryptocurrency exchange, announced that it has raised millions of dollars in Series A funding. The round was led by Fenbushi Capital, with participation from several other investors.

22/07/2019 | Liquefy | $2,600,000 | Trading & Investment | Hong Kong

Liquefy, a Hong Kong-based blockchain agnostic issuance platform for security tokens, has announced a $2.6M funding round led by Ideanomics and NEO Global Development, alongside other notable investors including Kenetic and East Chain.

23/07/2019 | CHOOOSE | $4,100,000 | Carbon | Norway

CHOOOSE, a Norwegian startup enabling companies and individuals to offset their carbon with a convenience as-a-service model, has raised a $4.1M seed round from Vito ONE, Contrarian Ventures, Wiski Capital and Norwegian angel investors.

23/07/2019 | Iconic Holding | Undisclosed | Trading & Investment | Germany

Cryptology Asset Group, a Malta-based investment company investing in crypto-assets and crypto companies around the globe with a special focus on asset managers, has invested in Iconic Holding. Cryptology has been set up by Apeiron Investment Group, the family office of German entrepreneur Christian Angermayer, and Mike Novogratz.

23/07/2019 | Second State | $3,000,000 | Blockchain | USA

Second State, a developer of an open-source blockchain smart contract platform for enterprises, has raised $3M in Series A funding from a number of top venture capitalists and angel investors, led by Susquehanna International Group (SIG).

23/07/2019 | WePower | Undisclosed | Energy | Lithuania

WePower, a blockchain-based energy trading platform, has been issued an undisclosed note which is convertible to shares from Japanese Trading House, Marubeni Corp.

24/07/2019 | dapp.com | $500,000 | Blockchain | Singapore

Dapp.com, a platform to discover, analyse and list dapps, has raised an undisclosed amount of funding from CyberportHK and Du Capital. It also raised investment from FBG Capital and Landscape Capital in a $500k round.

24/07/2019 | FanDragon Technologies | $12,000,000 | Ticketing | USA

FanDragon Technologies, a firm developing secure ticket delivery solutions for events and destinations by commercialising the Aventus digital assets-focused blockchain protocol, has launched with $12M in funding.

24/07/2019 | Omise Holdings | Undisclosed | Financial Services

Omise Holdings, the parent company of Omise (Payment Gateway), OmiseGO and the GO.Exchange has raised an undisclosed amount of funding from Nomura Holdings.

25/07/2019 | Digital Asset Data | $3,200,000 | Financial Services

Digital Asset Data, a crypto data and fintech startup, has raised $3.2M in an investment round led by investment firm North Island and private equity group Silver Lake co-founder Glenn Hutchins. Investment firms Ikigai Asset Management, Morgan Creek Digital, Amidst Capital, CMT Digital, Vestigo Ventures and Digital Currency Group also participated in the funding round.

26/07/2019 | Time New Bank | Undisclosed | Blockchain

Time New Bank, a company which is the first public chain to promote “Time Digitization”, has raised strategic investment from Yunshang Capital.

28/07/2019 | Autark Labs | $1,600,000 | Blockchain

Autark Labs won their next round of funding for ~$1.6M to continue building Aragon.

29/07/2019 | HCXI | Undisclosed | Insurance | USA

HCXI, a blockchain-based InsurTech product development company, has raised funding from Payment Ventures, a Washington DC-based early-stage private equity fund.

29/07/2019 | Helis Network | $500,000 | Financial Services | Australia

Helis Network, a startup focused on decentralized finance, has raised $500K in seed funding from NGC Ventures II, the new multi-strategy crypto fund of blockchain investment firm NGC Ventures. Other investors include multi-asset investment company Woodstock, Obsidian Capital, SMC Capital and Black Edge Capital.

30/07/2019 | Lumachain | $2,400,000 | Supply Chain | Australia

Lumachain, a blockchain startup which aims to track and trace the condition and whereabouts of food products, has raised $2.4M in public funding from Main Sequence Ventures, a $165.6M venture capital fund backed by the Australian government and the federal Commonwealth Scientific and Industrial Research Organisation.

30/07/2019 | Smart Valor | $3,250,000 | Trading & Investment | Switzerland

Smart Valor, the Zug-based crypto and potentially securities exchange, has raised $3.25M led by Yeoman’s Capital and Venture Incubator, alongside Tally Capital and other Asian and U.S. investors.

30/07/2019 | Solana | $20,000,000 | Blockchain | USA

Solana, the world’s first web-scale blockchain, announced that it has raised $20M in a Series A round led by Multicoin Capital, with participation from Distributed Global, Blocktower Capital, Foundation Capital, Blockchange VC, Slow Ventures, NEO Global Capital, Passport Capital and Rockaway Ventures.

30/07/2019 | Voyager Digital | $1,845,700 | Trading & Investment | Canada

Voyager Digital Ltd, a crypto assets broker has closed a non-brokered private placement for 3,045,397 units of the Company, at a price of CAD $0.80 per Unit, for gross proceeds of $1.85M (CAD $2,436,317). The Offering was led by Dattels & Company Limited and Susquehanna Government Products LLP and included an existing Voyager Board Member.

31/07/2019 | Bitwala | $14,400,000 | Trading & Investment | Germany

Bitwala, the Germany based firm that offers crypto banking services, has raised $14.4M (€13M) in a Series A round led by Sony Financial Ventures and NKB Group while existing investors Earlybird and Coparion contributed half of the funding.

31/07/2019 | IoDLT | Undisclosed | IOT | Gibraltar

IoDLT, a company building a B2B solution that automates approaches to securely recording sensor-based IoT data directly to a distributed ledger, has raised investment from NEM Ventures, the venture investment arm of NEM.

31/07/2019 | Rain | $2,500,000 | Trading & Investment | Bahrain

Rain, a Bahrain based cryptocurrency exchange, has raised $2.5M in a seed round co-led by BitMEX Ventures, and Kuwait-based cryptocurrency fund, Blockwater. Other regional investors including Vision Ventures, 500 Startups (MENA), and Taibah Valley also joined the round.

31/07/2019 | Troy Trade | Undisclosed | Trading & Investment | China

Troy Trade, an encryption assets broker, has raised millions of dollars in strategic investment, from Consensus Labs, BlockVC, NGC Ventures and various other domestic and international investment firms.

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Token Offerings

Over $22M was raised in token sales in July 2019.

02/07/2019 | Elrond | $3,250,000 | Blockchain | Malta

Elrond conducted an IEO on the Binance Launchpad platform and raised $3.25M by selling 5B tokens through a lottery.

01/07/2019 | Wirex | $2,000,000 | Financial Services | England

Wirex conducted an IEO on the OKEx Jumpstart platform and raised $2M by selling 400M tokens through a lottery.

11/07/2019 | Vanta Network | $2,000,000 | Communication | Korea

Ulysses Capital, a firm with over $1.5B under management, has invested $2M worth of VNT Token in the form of block deals and in-exchange purchases of VNT tokens. VNT tokens are for the VANTA Network, which aims to be the first real-world business application of blockchain technology in the field of real-time communication.

16/07/2019 | Akropolis | $2,400,000 | Financial Services | Gibraltar

Akropolis was the fourth IEO on the Huobi Prime platform and raised $2.4M by selling 320M tokens through a lottery.

16/07/2019 | Ultra | $5,000,000 | Gaming | France

Ultra conducted an IEO on the Tokinex platform, the second IEO on the platform this year, and raised $5M.

18/07/2019 | DeepCloud AI | $500,000 | Cloud | Singapore

DeepCloud AI conducted an IEO on Bitmax and raised $500K.

30/07/2019 | WINk | $6,000,000 | Gaming

WINk conducted an IEO on the Binance Launchpad platform and raised $6M by selling 50B tokens through a lottery.

31/07/2019 | Eminer | $1,008,000 | Blockchain

Eminer conducted an IEO on the OKEx Jumpstart platform and raised $1M through a lottery.

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Security Token Offerings

Just under $6M was successfully raised in security token sales in July 2019.

09/07/2019 | Bitbond | $2,350,000 | Financial Services | Germany

Bitbond, a small business lender, has conducted a debt-based security token offering and has raised over $2.35M (€2.1M) from investors from 87 different countries.

12/07/2019 | TokenMarket | $267,000 | Trading & Investment | England

TokenMarket, the investment platform, has raised over $267K (£240K) in an STO.

16/07/2019 | REITBZ | $3,300,000 | Property | Brazil

BTG Pactual, a South American investment bank, has raised $3.3M from retail investors for its first Security Token Offering, REITBZ, a real estate fund on TokenSoft. This is the first tokenized investment fund in South America.

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Mergers & Acquisitions

01/07/2019 | Kirkwood Bank of Nevada | $28,000,000 | Banking | USA

Jeffery Berns, the CEO of Blockchains, a blockchain incubator and investment company, has acquired Kirkwood Bank of Nevada for $28M. Berns has made this acquisition to ensure financial access and inclusion for blockchain companies.

03/07/2019 | Tradedash | Undisclosed |Trading & Investment | England

Tradedash, a trading tool that offers customers a customisable trading experience, has been acquired by Bittrex.

10/07/2019 | Redsand Group | Undisclosed | Enterprise Solutions | England

Redsand, venture builders of tokenized business models for construction, green energy, property tech and financial services, announced that they have been acquired by MIRIS, the sustainable Smart Community delivery company.

12/07/2019 | Cititech | Undisclosed | Beauty | Vietnam

Cosmochain acquired equity stakes in Cititech, a Vietnamese company that develops and operates a CRM (customer relationship management) solution as well as an application for plastic surgery reviews.

16/07/2019 | Vostok Project | Undisclosed | Blockchain | England

Alexander Ivanov, the founder and CEO of the Waves platform has sold the Vostok Project to Mark Garber’s GHP Financial Group, who have become the sole owners of the Vostok Project. The deal will enable GHP Group and Mark Garber to integrate distributed ledger technologies into their resource, production, and logistics assets, as well as partner projects.

18/07/2019 | Trusted Key | Undisclosed | Identity | USA

Trusted Key, a startup which developed a digital identity platform on the blockchain, has been acquired by the cloud software giant, Workday. For Workday, the purchase is part of a broader plan to move work credentials — such as licenses, certifications and degrees onto the blockchain.

26/07/2019 | Dispatch Labs | Undisclosed | Blockchain | USA

Perlin, a Singapore based blockchain company, as acquired Dispatch Labs. The acquisition will include talent, Dispatch’s IP, and strategic partnerships.

31/07/2019 | Interchange | Undisclosed | Trading & Investment | USA

Kraken has announced the acquisition of Interchange, an accounting, reconciliation and reporting service provider for cryptocurrency hedge funds, asset managers and fund administrators.

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Editorial Disclosure: A version of this article originally appeared on Techemy Advisory’s Medium blog. Author Nawaz Ahmed is the Product and Marketing Manager at Techemy Advisory. Brave New Coin’s parent company, Techemy Limited, is a shareholder in Techemy Advisory.

Disclaimer: Deal Flow is provided for informational purposes only and is not intended to provide commercial, financial or legal advice. Nothing in this article constitutes an offer of securities or regulated financial products or financial services to any person.