IREN’s $550m convertible offering, Hypernative’s $40m raise
Crypto funding surged to nearly $709 million during the week of June 8-14, 2025, with a massive $550 million private placement by IREN leading the charge.
Venture capital activity remained robust across the sector, particularly in infrastructure, with funding rounds spanning from pre-seed to Series B.
Startups like Hypernative, Yupp, Turnkey, and OneBalance also drew substantial investments, reflecting sustained investor confidence in crypto infrastructure and application-layer innovation despite broader market volatility.
Here’s what we tracked, using data from Cryptofundraising:
IREN (ex Iris Energy)
Raised $550 million through private placement of convertible senior notes
IREN has raised $863 million so far
Hypernative
Secured $40 million in a Series B round
The investment was backed by TenEleven, Ballistic Ventures, and Stepstone
Hypernative has raised $65 million so far
Yupp
Yupp raised $33 million in a Seed round
Investors include a16z crypto, Coinbase Ventures, and Kunal Shah
Turnkey
Gathered $30 million in a Series B round
The investment was backed by Bain Capital Crypto, Sequoia, and Lightspeed Faction
Turnkey has raised $52.5 million so far
Noah
Noah raised $22 million in a Seed round
Investors include LocalGlobe, Felix Capital, and FJ Labs
OneBalance
Secured $20 million in a Series A round
Backed by Cyber Fund, Blockchain Capital, and Mirana Ventures
OneBalance has raised $25 million so far
