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 leaders in both funding and deal counts thus far. Infrastructure deals have comprised 53% of 2024 funding and 40% of all deals, while DeFi has marked 15% of funding and 27% of deals. 

Seed rounds garnered the most investment this week, totaling $66 million, including Humanity Protocol’s $30 million round (DotW), which is comparatively large to historical seed rounds. The investment round also granted Humanity unicorn status, representing the sixth company in 2024 to achieve a valuation of over $1 billion. 

Funding by Category

Funding by Stage

Deal of the Week

Humanity Protocol, a zero-knowledge powered decentralized identity project, raised $30 million in a seed round led by Kingsway Capital, with participation from Animoca Brands, Blockchain.com, Shima Capital, Hashed, and others. The funding round val...