Infrastructure is King
Funding was on par with last week’s levels, with the total amount rising modestly to $224 million from $222 million. Infrastructure deals claimed the lion’s share of deals and amount raised, representing 36% of deals and 71% of total funds raised. The majority was raised via two $70 million deals from Ramp and TRM Labs. Ramp Network is a crypto payments solution looking to make purchasing cryptocurrencies easily available via any website or app. TRM Labs is a blockchain intelligence company allowing companies to analyze blockchain data to help detect illicit or fraudulent activities. CeFi saw a notable uptick in fundraising this week, rising to $36 million, over double the amount raised in either of the past two weeks.
The spread of deal stages was wider than usual, with every category containing at least one deal. Seed deals were still the largest category, capturing 27% of deals, followed by Series A and Strategic deals, each capturing 18% of the deal count.
Deal of The Week:
Sepana, the Web3 search tooling provider, announced they raised a $10 million funding round led by Hack VC and Pitango First. Protocol Labs, Lattice Capital, and Balaji Srinivasan also participated in the raise. Sepana aims to create a search infrastructure enabling the discoverabilit...Reports you may have missed
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