DeFi Takes the Reins
Funding saw a sharp decrease this week as we progress through the final month of the year. This week's fundraising total was $57 million compared to $198 million last week. DeFi was the bright spot in the lackluster week, representing 37% of all fundraising. A trend is emerging around decentralized trading platforms. Perennial, a cash-settled derivatives protocol, and Panoptic, a perpetual options protocol, represented two of the three DeFi deals this week.
Nearly half of the deals this week were Seed round investments, with Pre-Seed and Strategic rounds being tied for the next most popular deal type. There was one acquisition this week, with Aave Companies acquiring NFT avatar company Sonar. They plan to integrate Sonar’s NFT avatars with Lens Protocol’s decentralized profile system to create a seamless digital identity. Additionally, Sonar’s executive team will join Aave’s to help continue building Web3 experiences powered by Lens.
Deal of The Week
Perennial, a cash-settled derivatives protocol that allows developers to launch any synthetic market, raised $12M in a Seed Round led by Polychain Capital and Variant, with participation from Archetype, Coinbase Ventures, and Robot Ventures, among others. Perennial offers a promising solution to de...Reports you may have missed
WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...
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