Funding Activity Continues Gaining Steam
Weekly Recap
Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped them secure $80 million in bookings with another $200 million in the order pipeline. The funding will be used to scale its Teraflux revenues and enhance R&D for its portfolio of blockchain and AI security solutions.
Deal count fell to 27 this week, the first week under 30 deals since February. Infrastructure was the leader in deal flow and total funding, comprising 37% of deals and 70% of funding. DeFi projects have been consistently attracting deals, with three consecutive weeks of 8 deals and the second highest category total over the last three weeks. CeFi continues to be a laggard category from both a deal flow and funding perspective, with just two deals totaling $14 million over the last three weeks.
Funding by Category
Funding by Stage
Deal of the Week
Monad Labs, the development company of Monad, a full...Reports you may have missed
WEEKLY RECAP Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week...
WEEKLY RECAP Funding fell 27% from $282 million last week to $206 million this week across 34 deals. Triple-digit funding seems to be the new normal, as there has been a notable uptick in the private market in recent weeks. Despite the overall increase in activity, there has been a lack of CeFi-related projects in recent weeks, with just one deal in each of the last two weeks. Agora was the singular...
WEEKLY RECAP Despite a short week in observance of Good Friday, weekly funding rose 17% from $228 million to $268 million across 31 deals. March funding totaled $960 million (with three days remaining), representing the highest figures since March ’23. Monthly deal count has reached 142 thus far, similarly marking the highest tally since 2022. Gaming companies had a strong week of funding, raising $114 million, being slightly edged out...
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