Funding Activity Jumps with Market
Weekly Recap
Funding is following the market higher, jumping $29 million from last week to $141 million. This week also saw a jump in activity, with 25 deals closed compared to 13 last week. Infrastructure was by far the most popular category, with 14 deals announced. Deals were funded in numerous infrastructure verticals, including trading software, payments, and compliance, among others. From a deal stage perspective, raises remain concentrated on Seed and Pre-Seed companies, with half of the deals this week falling in these categories. There was an uptick in Series A funding, with three companies raising $62m as investors gained confidence in more established business models. These included our deal of the week, web3 cybersecurity firm Blockaid, which raised $33m. There was also a large Series A raise in the gaming category, with blockchain-based first-person shooter Shrapnel raising $20 million. Given the sharp rally in liquid token markets this week, it will be interesting to see if the surge in activity and funding follows in the private market.
Funding by Category
Funding by Deal Stage
Deal of The Week
Blockaid, a web3 security company, has emerged from stealth mode with $33 million in funding to safeguard users against fraud, phi...Reports you haven't read
WEEKLY RECAP Crypto funding rose 59% week over week from $85 million to $135 million, while deal count held steady at 21 total deals. DeFi was the most funded category from both a fundraising and deal count perspective, raising $70 million across eight deals, including a $14 million strategic round completed by Ethena Labs and led by Dragonfly Capital. Ethena is striving to create a yield-bearing synthetic dollar by leveraging...
WEEKLY RECAP Crypto funding cooled to $85 million this week, the first sub-$100 million week since the start of 2024. Funding was relatively evenly distributed across the DeFi, CeFi, and Infrastructure categories, totaling approximately 85% of the fundraising, while Web3 and Gaming only comprised about 15%. Deal count fell 28% from 29 to 21. DeFi was the most popular category from a deal count perspective, tallying eight deals and representing...
WEEKLY RECAP Total funding fell 29% week-over-week from $221 million to $158 million, while deal count rose about 14% from 22 to 25. This week marks the third consecutive week with triple-digit total funding and over 20 deals, potentially signaling increasing appetite in the private market. Infrastructure and CeFi were the leading categories, raising $76 million and $50 million, respectively. CeFi deals struggled in 2023 but have been a strong...
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