Venture Funding Hits Monthly Lows

For the first time in over a year, we’ve seen mining dominate crypto funding, comprising $625M of this week’s $746M of funding. There were two mining deals, Core Scientific and Blockstream, which received $500M and $125M, respectively. This heavy funding in mining caused total funding this week to skyrocket from last week, increasing nearly 4x from $194M to $746M (one of the most funded weeks in months). Aside from mining,...

Funding saw an uptick this week, with the total amount rising to $280 million from $242 million last week. Infrastructure had a dominant week, comprising nearly 87% of all dollars raised. Most funding came from a $200 million Series C round by Matter Labs (this week’s deal of the week). The next largest deal was a $28 million deal by Arkon Energy. Arkon Energy is a data center infrastructure and...

Compared to last week, funding has decreased $159 million from $474 million to $315 million, representing a 33% weekly decrease. Infrastructure continues to be a highlight of fundraising, accounting for almost a third of the total amount raised this week. Web3 was also a strong category this week, raising $51 million across four deals. Space and Time is tied for the largest web3 deal this week, raising $20 million in...