Andalusia Labs Achieves Unicorn Valuation

Weekly Recap

Crypto funding remained elevated for the third consecutive week, totaling $271 million, a slight drop from last week’s $289 million. The most funded category was Web3 and NFTs, largely due to a $140 million round closed by Line Next, the Web3 unit of the Japanese messaging app Line. Crescendo Equity Partners, a Peter Thiel-backed private equity firm, led the investment round. Infrastructure was the most popular category from a deal count perspective, tallying 12 deals worth $69 million, including our Deal of the Week, Andalusia Labs.