27% Increase in Funding to End Q2
Crypto funding rose on a weekly basis to $103 million compared to $81 million last week. Metaverse & Gaming and CeFi were the two strongest categories this week, accounting for 47% and 32% of total funding, respectively. This week’s average deal size was $7.9 million, exceeding the previous two weeks and ending the month on a strong note.
Metaverse & Gaming also led the week in deal count, with six deals. Although DeFi only accounted for 13% of funding, it had the second highest deal count (5), representing a third of all deals. There was one Series C deal this week (Mythical Games), only the second Series C deal this quarter, as venture capitalists have been placing their bets on early-stage projects. Mythical Games was also the largest deal of the week ($37 million), which is logical given the late-stage fundraise. Seed stage deals were the most popular category for the third consecutive week, representing 33% of all deals.
Hash3 conducted the sole investment fundraise this week, raising $29 million to invest in seed stage projects, and there were no M&A transactions.
Funding by Category
Funding by Deal Stage
Deal of the Week
This week's Deal of the Week is Mythical Games, which raised $37M in a Series C1 round led by Scytale Dig...Reports you may have missed
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...
WEEKLY RECAP This week’s $113 million in funding was less than half of last week’s $242 million, although the deal count showed a more modest 17% drop to 30 deals. Infrastructure continues to be the most popular investment category. Infrastructure’s $66 million in funding was stapled by Nexus Labs and Nuffle Labs’ $25 million and $13 million respective investment rounds. After tallying a few deals in the previous two weeks,...
WEEKLY RECAP Weekly funding fell by almost 50% to $182 million, while the deal count fell by about a third to 23. The Infrastructure category led both funding and deal count, bolstered by Avail’s $47 million Series A round. CeFi saw $26 million in funding, including XREX’s $18.75 million strategic round with Tether. XREX will use the funding to help facilitate regulatory-compliant cross-border payments using USDT. Gaming had the second...
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