Intents-Based Projects Becoming Hot Trend
Weekly Recap
This week’s $113 million in funding was less than half of last week’s $242 million, although the deal count showed a more modest 17% drop to 30 deals. Infrastructure continues to be the most popular investment category. Infrastructure’s $66 million in funding was stapled by Nexus Labs and Nuffle Labs’ $25 million and $13 million respective investment rounds. After tallying a few deals in the previous two weeks, CeFi projects did not garner any investment this week, as the category remains a laggard.
From a funding perspective, Series A was the leading deal stage, totaling $50 million across three deals, including Ava Protocol, our Deal of the Week. Seed rounds had the second most funding ($29 million) and were the most popular in terms of deal flow (9). There were two token sales this week, including Zyfi, who is building an account abstraction protocol on ZkSync.
Funding by Category
Funding by Stage
Deal of the Week
Ava Protocol, an EigenLayer Actively Validated Service (AVS) focused on Web3 automation, raised $10 million in a seed round with investor participation from Electric Capital, Shima Capital, Taisu Ventures, and others. The funding will be used to expand its operations and technology stack.
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