Funding Cools to Start November
Weekly Recap
Crypto funding dropped significantly this week, falling from $144 million to $30 million, while deal count fell by more than 50%. Infrastructure was the most popular category, making up about two-thirds of total funding and total deal count. Within the Infrastructure category, two layer-2 networks (Layer N & Intmax) completed fundraises along with one layer-1 network (Waterfall Protocol). The average deal size was notably small this week at just $3 million compared to last week’s $7.2 million average.
From a deal stage perspective, deals were relatively evenly dispersed with seed rounds tallying the most at four. Additionally, pre-seed rounds made up 17% of total deal count and 15% of total funding. There were no token sales or late-stage deals this week but there was one M&A transaction, with Web3 firm Treehouse acquiring NFT analytics platform Origin Analytics to bolster its NFT offerings.
Funding by Category
Funding by Stage
Deal of the Week
Modulus Labs, a company enabling accountable artificial intelligence for dApps, raised $6.3 million in a seed round led by 1kx and Variant. Other investors include Floodgate, Alliance, Bankless, GCR, Inflection, and Stanford Blockchain. Additionally, Modulus is backed by angel inves...Reports you may have missed
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