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Blockchain startup funding: 10 rounds, $163.7M, ADI took 31%

By NAUT Research · · 7 min read

$163.7M Blockchain startup funding raised by 10 L1 and L2 venture rounds on NAUT, 1 January 2025 to 12 November 2026. Logos: ADI, Stable, Camp Network, Plasma, Hemi, CROSS, Fogo Chain, SOON Network, Novastro, DAC | Quantum Chain.

On blockchain startup funding, NAUT tracks 10 venture rounds raised by Layer 1 and Layer 2 startups between 1 January 2025 and 12 November 2026, and together they raised $163.7M. The largest was ADI's $50M strategic round on 13 July 2026, and the 31 backer records on those rounds sit across 31 different backers on NAUT (30 investor pages and 1 platform page, Bybit), from Hack VC and Bitfinex at Stable to Jump Crypto at SOON Network.

Data as of 12 November 2026, read from NAUT's funding records by NAUT Research; no one paid for this report. NAUT holds 92 rounds since 1 January 2025 at non-archived project companies tagged L1/2/3. 75 of them are public token sales (30 IDO, 22 ICO, 17 IEO, 5 pre-sale and 1 KOL round) and were dropped, which leaves 17 venture-style rounds at 16 companies, $638.7M. Each of those 17 rows was then read against its own description and, where checked, an outside report, and 7 came out:

  • TON's $400M row, stored as a private round on 20 March 2025, because the source check found reporting that the TON Foundation did not treat it as a fundraise.
  • SOON Network's $22M row of 22 January 2025, because The Block reports it as an NFT sale, a public sale like the 75 dropped above. Its $5M strategic round of 11 June 2025 stays in.
  • DATA Network's $30M strategic row of 11 October 2026, because its NAUT row carries the description of a different product, Story Protocol. The Block confirms the money itself: Sui Foundation is investing $30M in DATA Network.
  • ILITY's $1M strategic row, because its NAUT row has no description to read.
  • Datagram Network's $4M pre-seed, because its own description calls it a DePIN.
  • Beldex's $8M round and Towns Protocol's $10M Series B, because their own descriptions name a privacy app ecosystem and a messaging app, with no chain. Beldex's round is the only 1 of the 17 that carries a lead flag on NAUT, for Sigma Capital.

That is 10 rounds at 10 companies. Research checked 6 of the 10 against an outside report: 4 matched on amount and date (ADI, Stable, Camp Network, Hemi), and Plasma's amount and CROSS's date did not match the report read, so those cells show NAUT's record. The other 4 rounds were not put to an outside source.

Which blockchain startup funding rounds closed since 2025?

10 rounds, ranked by amount raised. Every amount, date and round name is NAUT's record; the backer count is every backer NAUT holds on that round, leads included.

Company Date Round Raised Backers
13 Jul 2026 Strategic $50M 0
31 Jul 2025 Seed $28M 10
29 Apr 2025 Series A $25M 7
13 Feb 2025 Series A $20.5M 1
26 Aug 2025 Funding round $15M 2
20 Mar 2025 Private $10M 0
1 Jan 2025 Seed $8M 1
11 Jun 2025 Strategic $5M 2
9 Jan 2025 Seed $1.2M 8
28 Aug 2026 Strategic $1M 0

8 of the 10 rounds are from 2025 and raised $112.7M; the 2 from 2026, ADI and DAC | Quantum Chain, raised $51M. 7 of the 10 have at least 1 backer on NAUT's record, and none carries a lead flag on NAUT. For 4 rounds the outside reports name the leads, listed in the next section.

Who backed each blockchain startup funding round?

On NAUT's record, no firm sits on more than 1 of the 10 rounds. Amber Group is the 1 firm in 2 of the wider 17: SOON Network's strategic round and Datagram Network's pre-seed.

How much did each blockchain startup raise?

Raised per round, 10 L1 and L2 rounds since 2025
  1. ADI$50M
  2. Stable$28M
  3. Camp Network$25M
  4. Plasma$20.5M
  5. Hemi$15M
  6. CROSS$10M
  7. Fogo Chain$8M
  8. SOON Network$5M
  9. Novastro$1.2M
  10. DAC$1M

The top 4 rounds, from ADI to Plasma, hold $123.5M of the $163.7M.

What this tells a BD team

  • Stablecoin chains raised the most. ADI, Stable and Plasma all build for stablecoins and raised $98.5M between them, so a wallet, custody or on-ramp team has 3 fresh buyers.
  • The 2026 money is recent. ADI closed $50M on 13 July 2026, which makes it the newest large budget on this list.
  • Gaming and IP chains are their own pitch. CROSS builds for Web3 gaming and Camp Network for creator IP, $35M between them.
How a BD team can work this list
  1. Pick the chain type3 of the 10 build for stablecoins: ADI, Stable and Plasma.
  2. Start with the newest moneyADI's $50M strategic round closed on 13 July 2026.
  3. Open the company pageEach name above links to its NAUT page, with the team where NAUT holds one.
  4. Use the backers as a doorStable has 10 backers on NAUT's record (9 funds and Bybit), led by Bitfinex and Hack VC per The Block.

What this tells a founder raising for a new chain

  • Layer 1 funding here is seed and Series A money. Stable raised a $28M seed, Fogo Chain an $8M seed and Camp Network a $25M Series A.
  • Layer 2 funding came in 3 shapes. ADI took a $50M strategic investment, Hemi a $15M round and SOON Network a $5M strategic round.
  • The blockchain investors on these rounds are spread out. The 31 backer records belong to 31 different backers, so a founder builds a fresh target list for each comparable round.
How a founder can use these rounds
  1. Match your chain typeFind the closest of the 10, such as Fogo Chain for an SVM L1.
  2. List who backed itCamp Network's round has 7 backers on NAUT, led by 1kx and Blockchain Capital per Fortune.
  3. Open each fund pageA fund page on NAUT shows its team and its portfolio rounds.
  4. Pitch the partner who did the dealStart with the firms that led, then the ones that joined.

How to reach the decision makers

Every company and backer above links to its NAUT page. A company page shows the team NAUT holds for it, where it holds one, and a fund page shows its team and the rounds in its portfolio, so a reader can go from Stable's round to the Hack VC page in 1 click. 3 leads named by The Block for Hemi (YZi Labs, Republic Digital and HyperChain Capital) are not on that round's NAUT record yet.

Related reading on NAUT: Layer 1 blockchains list: 127 chains, 120 with a token and Crypto ecosystem leads: 98 at 60 L1 and L2 chains.

Can you pull this data through the NAUT API?

Yes. GET https://api.naut.so/v1/investors/amber-group returns 1 fund with its team and its portfolio rows, each carrying company, roundType, amountUsd, announceDate and isLead, and GET https://api.naut.so/v1/projects/stable returns 1 of the 10 companies with its team. Every call is a GET with Authorization: Bearer $NAUT_KEY and costs 5 credits, documented at https://naut.so/docs/api with plans at https://naut.so/pricing. Verified Telegram, email and LinkedIn for the people on these pages unlock on any paid NAUT plan, so you can start a 7-day trial and reveal them.

Blockchain startup funding FAQ

How much did L1 and L2 blockchain startups raise since 2025?

NAUT tracks 10 Layer 1 and Layer 2 venture rounds from 1 January 2025 to 12 November 2026 that raised $163.7M, read on 12 November 2026. Before the filter for chain type and round type, NAUT held 17 venture-style rounds at 16 L1/2/3-tagged companies worth $638.7M.

Which blockchain startup raised the most since 2025?

ADI, an Ethereum L2 for stablecoins and RWAs, raised the most of the 10: a $50M strategic investment on 13 July 2026, 31% of the $163.7M. Stable was next with a $28M seed on 31 July 2025, then Camp Network with a $25M Series A on 29 April 2025.

Who invested in L1 and L2 blockchains since 2025?

Across the 10 rounds from 1 January 2025 to 12 November 2026, NAUT holds 31 backer records at 31 different backers (30 investor pages and 1 platform page). Outside reports name Bitfinex and Hack VC as co-leads of Stable's seed and 1kx and Blockchain Capital as leads of Camp Network's Series A.

Where can I find the teams behind these blockchain startups and their contact channels?

On NAUT: all 10 companies in this report have a page on naut.so, from ADI to DAC | Quantum Chain, and GET https://api.naut.so/v1/projects/stable returns 1 company with the team NAUT holds. Verified Telegram, email and LinkedIn for those people unlock on any paid NAUT plan, so you can start a 7-day trial and reveal them.

Sources

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