Two Companies Earn Unicorn Status
Weekly Recap
Crypto funding continued to show strength through the first half of March, with $252 million in total funding across 38 deals, marking a 41% week-over-week funding increase. The infrastructure category represented approximately two-thirds of funding and almost half of total deal count, including a $69 million undisclosed round from Berachain, an EVM-compatible L1 network powered by proof-of-liquidity. The round was co-led by large TradFi asset manager Brevan Howard and Framework Ventures, who valued Berachain at $1.5 billion. Berachain was one of two companies that earned unicorn status, as Polyhedra Network was valued at $1 billion. Elixir was not far off, obtaining a valuation of $800 million, rounding out an impressive week for private market valuations. Only eight deals in 2023 valued companies at $800 million or greater, and 2024 has amassed six before the end of the first quarter.
Funding by Category
Funding by Deal Stage
Deal of the Week
Elixir, a modular DPoS network built to power liquidity across order-book exchanges, raised $8 million through a series B round led by Mysten Labs (Sui) and Maelstrom (Arthur Hayes family office). Other investors included GSR, Flowdesk, Manifold, and Amber Group. The deal brings Elixir’s valu...Reports you may have missed
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