dePIN & Gaming Popular in Quiet Week
Weekly Recap
Weekly funding fell 19% to $82 million, while the deal count was steady week-over-week at eighteen deals. Two categories were absent of funding this week, with CeFi and Web3 not tallying any deal flow. Of the three categories notching deals, Infrastructure made up 51% of funding and 50% of deal count. Gaming posted a strong week with four deals totaling $23 million in funding. From a deal stage perspective, seed rounds made up the majority of fundraising and deal count, comprising about half of both totals.
Almost halfway through Q3, funding levels remain suppressed compared to the first half of the year. Both Q1 and Q2 saw over $2 billion in funding and over 350 deals, while Q3 is on pace for about $1.5 billion and 300 deals, as the summer months typically represent the lowest quarter of the year. Similarly, Q3 2023 posted approximately $1.4 billion in funding, although with fewer deals (214).
Funding by Category
Funding by Stage
Deal of the Week
Andrena, an internet services company, raised $18 million in an extended Series A round led by Dragonfly Capital, with participation from ParaFi Capital, Wintermute, 6th Man Ventures, Robot Ventures, and others. The funding will be used to continue developing its decentralized autonomous w...Reports you may have missed
WEEKLY RECAP Total funding dropped 17% from $122 million to $101 million, while the deal count fell 36% from 28 to 18. Although totals were muted compared to the prior two weeks, this week had the highest average deal size, at $5.6 million. DeFi was the leading category from both a fundraising and deal flow perspective, raising $57 million across eight deals, including our Deal of the Week, Morpho Labs....
WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
