Funding Rebounds While Markets Dive
Funding rebounded this week despite drawdowns across crypto and traditional markets. Total weekly funding rose from $103M to $312M, with all sectors seeing increased funding except for DeFi and Mining. Infrastructure and Web3 & NFTs were the top funded verticals, raising $152M and $73M, respectively, while Mining has gone two straight weeks without funding. CeFi deals totaled $20m, showing signs of life after no CeFi deals closed last week.
Infrastructure had the most deals of any sector, with 12 out of 27 announced. Most of the funding in this category came from Ethereum L2 Scroll, which announced a $50 million raise at an eye-popping $1.8 billion valuation, despite not having a live mainnet. We dive deeper into this deal below as our deal of the week.
Many of the deals announced this week likely had already reached the final stages before wider market panic set in. The next few weeks of deal-making will potentially show how risk appetite could evolve for the rest of the year.
Deal of the Week
This week's Deal of the Week is Ethereum Layer 2 scaling solution, Scroll. Scroll is a Layer 2 blockchain that uses zero-knowledge technology to help Ethereum achieve scalability. We discuss zk-tech in depth in our Crypto Concepts piece&n...Reports you may have missed
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