Series A Funding Continues to Shine
Weekly Recap
Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week maintained the trend. There were five Series A rounds totaling $91 million, representing 20% of deals and 66% of funding. A notable token sale was completed by the Shiba Inu development team, raising $12 million from investors for rights to future TREAT tokens, which will be the native token of a privacy focused L3 built on top of Shibarium.
Funding by Category
Funding by Stage
Deal of the Week
Movement Labs, a blockchain development company leveraging Facebook’s Move language, raised $38 million in a Series A round led by Polychain Capital. Other investors included Hack VC, Maven 11, Nomad Capital, OKX Ventures, Aptos Labs, and others. Movement Labs is hoping to address blockchain security issues and scalability limitations via its Move-powered ZK L2. The funding will be used to hire top-tier talent across various business functio...Reports you may have missed
WEEKLY RECAP Weekly funding decreased 25% from $209 million to $157 million, and the total deal count declined 19% from 32 to 26 deals. DeFi was the most funded category this week, anchored by Polymarket’s $45 million Series B round, the largest fundraise of the week. Infrastructure was not far behind, totaling $61 million across eight deals. As we begin to approach the end of 1H 2024, Infrastructure and DeFi have been the two consistent...
WEEKLY RECAP Total funding rose 58% this week from $128 million to $203 million, while total deals ticked up to 29 compared to last week’s 26. Infrastructure was the dominant category, representing 64% of funding and 55% of deal count. There were five CeFi deals this week (including our DotW), one of the higher totals for the category in recent weeks. Seed rounds amassed a staggering $92 million in funding...
WEEKLY RECAP Weekly funding fell from $152 million to $125 million across 23 deals compared to last week’s 31. The largest deal of the week was a $47 million strategic round completed by Securitize, notably led by BlackRock and making CeFi the leading fundraising category this week. As one of the largest asset managers in the world, the investment carries significant weight in legitimizing the tokenization sector. BlackRock used Securitize...
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