Funding the Multi-Chain World
Weekly Recap
Funding has fallen to $68 million after a strong week of funding saw teams raise $117 million to start the quarter. The average deal size across both weeks was ~$6 million, and deal count fell from 15 to 12. The largest raise came from crypto prime broker Membrane Labs, which closed $20 million in their Series A round from several noteworthy investors, including Brevan Howard Digital, Point72 Ventures, and others like Jane Street and Two Sigma Ventures. Membrane is an institutional crypto trading and lending platform. Their infrastructure supports clearing, settlement, and workflow management for loans, collateral management, OTC trades, and derivatives. The CeFi market remains an area of opportunity following the collapses of major players like FTX, Celsius, and Genesis. After CeFi, infrastructure saw the second-largest amount raised at $15m. Investors remain focused on interoperability, wallet account abstraction, and native crypto analytics. From a deal stage perspective, deals remain concentrated on Seed and Pre-Seed companies, with two-thirds of deals this week falling into these categories.
Funding by Category
Funding by Deal Stage
Deal of The Week
The developers behind a Layer 1 network, Initia, have moved out of stealth mo...Reports you may have missed
WEEKLY RECAP Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The...
WEEKLY RECAP Crypto funding rose 60% week-over-week from $145 million to $232 million, while total deal count decreased 7% from 29 to 27. CeFi was the leading funding category, totaling $145 million across three deals and comprising 63% of all funding. The total was bolstered by Public’s $130 Series D round, representing only the second Series D round in 2024. Although CeFi has been a laggard category all year, three...
WEEKLY RECAP Despite liquid crypto prices rising, private market funding remains lackluster thus far in Q4. Aggregate funding fell 29% week-over-week, decreasing from $155 million to $109 million, while deal count fell by over 31% from 22 to 15. Infrastructure was the leading category from both a financing and deal count perspective and included our Deal of the Week, Noble. The largest deal was Monkey Tilt, which raised $30 million...
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...
