Mining Companies May Be Catching a Bid
After an impressive $749 million was raised last week, funding totals came back down to earth to $228 million. Zero-carbon Bitcoin mining company TeraWulf completed a $32 million public equity sale, representing the largest deal of the week. Additionally, mining company Pow.re completed both a Series A and Strategic fundraising round this week, valuing the company at $150 million. The uptick in mining deals over the last two weeks may be indicating an increased appetite for mining exposure following decreased demand over the past year.
Although the total funding amount decreased week over week, the number of deals completed rose 69%, totaling 27. Most of the deal count was concentrated in the Infrastructure and Web3 & Gaming categories which accounted for 64% of total fundraising and 63% of total deals. In terms of deal stages, 37% of deals were seed rounds while Series A and Strategic rounds both represented 11% of the total count.
Deal of the Week
Crypto security startup, Hypernative, raised $9M in seed funding in a round led by boldstart ventures and IBI tech fund, with strategic investments from Blockdaemon, Borderless, and CMT Digital, among others. Hypernative was founded by Sagie and Dan Caspie, who previously worked at IBM, Google, and...
