Farcaster Marks Eighth Unicorn of 2024
Weekly Recap
Despite 24% fewer deals this week, total funding rose 38% from $157 million to $217 million, largely due to Farcaster’s $150 million Series A round (DotW). There was only one other Web3 deal besides Farcaster, which was the leading category from a funding perspective. Similarly, Series A rounds were the leader in funding this week, totaling $158 million across just two deals: Farcaster and an $8 million fundraise completed by WeatherXM, a dePIN project focused on a new weather network. Infrastructure had $44 million in funding across nine deals, DeFi had $18 million across seven deals, and there were no CeFi deals this week. A deal stage other than Seed rounds tallied the most deals for the first time in a few weeks. Strategic rounds were the most popular, totaling eight deals, including deals completed by Fantom and Monad.
Funding by Category
Funding by Stage
Deal of The Week
Farcaster, a web3 social media platform, raised 150 million in a series A round led by Paradigm with participation from a16z, Haun Ventures, Variant Fund, Union Square Ventures, and Standard Crypto. The funding round values Farcaster at $1 billion, and the fresh capital will be used to add new product features, increase the number of daily active users,...Reports you may have missed
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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...
