Crypto Startups Raised ₱4.55 billion ($76 million) in Q2's First Week
Crypto startups pulled in ₱4.55 billion ($76 million) during the first week of Q2 2026, adding to nearly ₱299.61 billion ($5 billion) raised year-to-date. Pharos led the week with a ₱2.64 billion ($44 million) Series A for its high-performance Layer 1 blockchain.
Key Takeaway
Infrastructure and AI projects are eating up crypto VC dollars despite geopolitical uncertainty slowing dealmaking.
Pharos raised $44 million in a Series A round, dominating the first week of Q2 2026 when crypto startups collectively secured $76 million.
The Layer 1 blockchain promises to handle large transaction volumes while staying compatible with Ethereum-based apps. Pharos focuses on real-world assets and decentralised infrastructure networks, built for fast transaction processing and lower costs. Sumitomo Corporation, Paradigm, and YZi labs backed the round.
Oh grabbed $7.5 million in a Series A for its web3 AI platform. The company builds decentralised AI models and runs OhChat, an interactive AI service powered by its token. Investors included SNZ Holding, Chainlink, Flow Traders, Maven 11, L1 Digital, Hashed, and Auros Global.
Kulipa closed a $6.2 million seed round for its crypto payment card platform. The service lets crypto wallets offer branded cards that convert digital assets to traditional currency at checkout. Maelstrom, Flourish Ventures, 1kx, White Star Capital, and Fabric Ventures participated.
Ethereal Ventures Managing Partner Min Teo said many capital allocators are taking a cautious approach to deployment. The shift comes from macroeconomic outlook, geopolitical uncertainty, and rapid AI developments. Crypto startups have raised nearly $5 billion in 2026 so far, per DefiLlama data, with infrastructure and AI-focused projects drawing investor attention despite US-Iran geopolitical tensions.
This article was written based on reporting from Dlnews.
