Sequencers Steal Spotlight
Weekly Recap
March continues to be an impressive month for the crypto private market. Total funding reached $228 million across 32 deals, marking the third consecutive week with over 30 deals. Average deal size has slowly been increasing. This week’s average deal amount was $10.9 million. For comparison, 2023’s average deal size was $9.2 million, representing an 18.4% increase. DeFi was the leading category from a deal count perspective, representing 34% of total deals but only 11% of total funding. In contrast, Infrastructure was the leader from a funding perspective, representing 55% of funding and only 19% of deals. Examining deal stages, Series A deals accounted for 50% of funding, totaling $115 million. There has been a recent uptick in Series A rounds. March has seen 13 Series A rounds while January and February both saw about half that amount.
Funding by Category
Funding by Deal Stage
Deal of the Week
Espresso Systems, a shared sequencing marketplace for rollups, raised $28 million via a Series B round led by a16z. Other investor participation included Polygon, Frax, Starkware, Rarible, Taiko, and Injective, among others. Espresso hopes to increase users' utility through improved safety, liveness, and interoperability while being fully c...Reports you may have missed
WEEKLY RECAP Despite liquid crypto prices rising, private market funding remains lackluster thus far in Q4. Aggregate funding fell 29% week-over-week, decreasing from $155 million to $109 million, while deal count fell by over 31% from 22 to 15. Infrastructure was the leading category from both a financing and deal count perspective and included our Deal of the Week, Noble. The largest deal was Monkey Tilt, which raised $30 million...
WEEKLY RECAP Total funding has rebounded from last week’s abnormally low amount, increasing 251% from $44 million to $154 million. Infrastructure was the leading category, raising $99 million across 13 deals. This week’s largest deal fell into the Infrastructure bucket; 0G Labs, a former Deal of The Week, raised $40 million in a Seed round, bringing its total funding to $75 million. From a deal stage perspective, funding was concentrated...
WEEKLY RECAP Weekly funding sharply declined, falling 81% from $181 million to $35 million, with total deal count dropping 31% from 26 to 18. The decreases can potentially be attributed to projects foregoing announcements in light of a week filled with U.S. election headlines. 77% of funding fell into the Infrastructure bucket, totaling $27 million across seven deals. Similarly, funding was concentrated in Pre-Seed and Seed deal stages, collectively comprising...
WEEKLY RECAP Weekly funding increased 65% from $103 million to $170 million despite the deal count falling 15% from 26 to 22. Eight companies raised $10 million or more this week, in contrast to just 10 companies combined in the last two weeks. The bulk of funding was concentrated in the Infrastructure category, with projects raising $112 million across 12 deals. DeFi was the second most funded category, with $48...
