dePIN Goes Solar
Weekly Recap
Weekly funding increased 65% from $103 million to $170 million despite the deal count falling 15% from 26 to 22. Eight companies raised $10 million or more this week, in contrast to just 10 companies combined in the last two weeks. The bulk of funding was concentrated in the Infrastructure category, with projects raising $112 million across 12 deals. DeFi was the second most funded category, with $48 million across five deals. Among the four Gaming deals, Gunzilla Games, the creator of Off the Grid, notably raised an undisclosed amount from VanEck, representing the asset manager’s second crypto-gaming investment alongside Parallel. From a deal stage perspective, Series A was the leading funding category, comprising 30% of the funding total and 18% of the total deal count. Seed rounds were the most popular deal stage, with eight deals totaling $43 million.
Funding by Category
Funding by Stage
Deal of the Week
Glow, a solar-focused dePIN project, raised $30 million in an undisclosed round led by Framework Ventures and Union Square Ventures. $6.5 million will fund Glow’s operations, while the remainder will support the expansion of solar farms being built in India. Gl...Reports you may have missed
WEEKLY RECAP Total funding fell 49% week-over-week from $188 million to $95 million, and total deal count decreased modestly from 23 to 31. Infrastructure and DeFi were the two leaders in fundraising, accounting for approximately two-thirds of the total. The week's largest deal was a $15 million Series A round completed by Bluesky, a Web3 social network. Party Icons was the sole Gaming company that raised capital this week. They...
WEEKLY RECAP Weekly funding rose by 37% from $132 million to $180 million, while the total deal count decreased slightly from 23 deals to 21. Funding was relatively evenly dispersed across categories, with four out of five categories raising more than $30 million, except Web3, which saw $8 million in funding. DeFi was the leading category in total funding and deal count, raising $56 million across nine deals. Series A...
WEEKLY RECAP Q4 has represented the least funded quarter in each of the past two years, and two weeks into this year, the trend is on pace to remain intact. The first week of the fourth quarter was one of the least funded weeks all year, with just $11 million raised across eight deals. Although not overly impressive, funding rebounded this week to $120 million across 21 deals. Concentration in...
