VC roundup: PQShield clinches $37m, Renzo raises $17m

This week, blockchain startups and various crypto projects collectively raised more than $100 million in venture capital (VC).

Here’s a roundup of the funding activities between June 16 and June 22. The activity reflects a growing interest in diverse blockchain applications, from gaming and social networks to advanced cryptographic security.

PQShield raises $37m in series B round
Security startup PQShield emerged as this week’s biggest winner. It closed a $37 million Series B round to enhance its post-quantum cryptography solutions.

Led by Addition, the funding round also included new investors such as Braavos Capital, Legal & General, and Chevron Technology Ventures.

PQShield’s technology is aimed at future-proofing cryptographic systems against quantum computer-based hacks, with notable clients including Nvidia and AMD.

The company’s founder, Dr. Ali El Kaafarani, said that PQShield will use the new funds to hire more people and facilitate closer working relationships with its partners and customers.

Renzo secures $17m in series A round
The second-highest amount of funding of the week went to the Ethereum (ETH) restaking protocol, Renzo.

It secured $17 million in a series A round led by Galaxy Ventures and Brevan Howard Digital Nova Fund. Earlier in January, the platform raised $3.2 million.

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