Weekly Recap

Total funding fell 18% week over week to $191 million, while the deal count rose 32% to 33. May saw $883 million in funding across 136 deals, being slightly above the 2024 average of approximately $800 million per month. Infrastructure was the leading category with $106 million in funding, primarily comprised of Babylon’s $70 million undisclosed round led by Paradigm. The Gaming category posted its highest totals in recent weeks, with $24 million raised across eight deals. Many believe gaming will be the sector that drives mass adoption in the industry, but the category has been a laggard from a funding perspective. DeFi had the second most deals (8), including Aperture Finance, our Deal of the Week. Seed rounds represented approximately 29% of funding and 36% of the deal count, and MetaToken completed only token sale, raising $5 million to expand the development of its iGaming ecosystem.

Funding by Category

Funding by Stage

Deal of the Week

Aperture Finance, an AI-powered intents-based DeFi protocol, raised $6.7 million in a Series A round led by Skyland Ventures, Blockchain Founders Fund, and Krypital Group. Other investors included Alchemy, SNZ, Stratified Capital, and others. The funding round gave Aperture a valuation of $250 mi...