SOL Applications Lead Funding Rounds
Key Takeaways
- Solana-based projects have received over $10 million, leading Layer 1 capital raises this week
- Our Deal of the Week is Eden Network’s $17.4 million seed round – which will fund the platform protecting traders from order frontrunning
- Most featured investors this week include Multicoin Capital, Alameda Research, CMS Holdings, Jump Capital and NGC Ventures
Venture Capital Deals
Pollen DAO is a fully decentralized portfolio management protocol, enabling the creation and distribution of DeFi portfolio and index tokens whilst generating yield for token holders.
Pollen has successfully raised $5 million as it aims to reinvent asset management for the on-chain economy. Just like Uniswap revamped liquidity for the on-chain environment by introducing market maker fees to contributing users, Pollen will do the same for portfolio management. Strategic backers include The Graph, AlphaBit and several other well-known investors. (Pollen DAO Raises $5 million to Build the Uniswap of Asset Management).
Reports you may have missed
WEEKLY RECAP Total funding has rebounded from last week’s abnormally low amount, increasing 251% from $44 million to $154 million. Infrastructure was the leading category, raising $99 million across 13 deals. This week’s largest deal fell into the Infrastructure bucket; 0G Labs, a former Deal of The Week, raised $40 million in a Seed round, bringing its total funding to $75 million. From a deal stage perspective, funding was concentrated...
WEEKLY RECAP Weekly funding sharply declined, falling 81% from $181 million to $35 million, with total deal count dropping 31% from 26 to 18. The decreases can potentially be attributed to projects foregoing announcements in light of a week filled with U.S. election headlines. 77% of funding fell into the Infrastructure bucket, totaling $27 million across seven deals. Similarly, funding was concentrated in Pre-Seed and Seed deal stages, collectively comprising...
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...
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...
