Cypher Capital Joins $12 Million Funding Round for SecondLive Metaverse Platform

Crypto investment firm Cypher Capital has participated in a $12 million private funding round for SecondLive, a Web3 Metaverse platform powered by artificial intelligence (AI), the company announced on Monday.

The funding round was led by Crypto.com, with additional contributions from Spark Digital, MetaEstate, TAISU Ventures, and other investors. With this latest investment, SecondLive has raised a total of $15 million.

SecondLive leverages generative AI to create virtual spaces and immersive social experiences within the Metaverse. The company plans to use the new capital to upgrade its infrastructure for large-scale events, expand its social networks, and enhance support for creator-driven economic activities.

The platform, which operates across eight major blockchain networks—including BNB Chain, Ethereum, and TON—has more than 5 million registered users and has facilitated the creation of 1.81 million digital assets through user and AI collaboration.

"We are excited to have Cypher Capital as a key partner," SecondLive stated. "Their expertise in the crypto industry will be invaluable as we continue to innovate and scale our platform, driving the next wave of Web3 adoption."

SecondLive previously secured seed funding from Binance Labs, which helped boost its valuation to $30 million in 2021. The company also received backing from Binance Smart Chain's $1 billion fund.

Vineet Budki, CEO of Cypher Capital, expressed enthusiasm for SecondLive’s vision: "SecondLive is transforming how users engage within digital environments and the Metaverse. They are pioneering the use of AI to create dynamic, user-generated virtual spaces, aligning perfectly with Cypher Capital’s vision for the future of Web3."

Cypher Capital backs early-stage blockchain projects, providing both funding and strategic support. The firm focuses on key areas such as DeFi, NFTs, infrastructure, and Web3, prioritizing projects that foster blockchain adoption. With a global network, Cypher Capital offers a range of services, including financial tools, market insights, and consulting. Its portfolio includes investments in projects like TON, Solana, Sui, Berachain, Sei Network, and zkPass.