SOL Applications Lead Funding Rounds
Key Takeaways
- Solana-based projects have received over $10 million, leading Layer 1 capital raises this week
- Our Deal of the Week is Eden Network’s $17.4 million seed round – which will fund the platform protecting traders from order frontrunning
- Most featured investors this week include Multicoin Capital, Alameda Research, CMS Holdings, Jump Capital and NGC Ventures
Venture Capital Deals
Pollen DAO is a fully decentralized portfolio management protocol, enabling the creation and distribution of DeFi portfolio and index tokens whilst generating yield for token holders.
Pollen has successfully raised $5 million as it aims to reinvent asset management for the on-chain economy. Just like Uniswap revamped liquidity for the on-chain environment by introducing market maker fees to contributing users, Pollen will do the same for portfolio management. Strategic backers include The Graph, AlphaBit and several other well-known investors. (Pollen DAO Raises $5 million to Build the Uniswap of Asset Management).
Reports you may have missed
WEEKLY RECAP Weekly funding fell from $152 million to $125 million across 23 deals compared to last week’s 31. The largest deal of the week was a $47 million strategic round completed by Securitize, notably led by BlackRock and making CeFi the leading fundraising category this week. As one of the largest asset managers in the world, the investment carries significant weight in legitimizing the tokenization sector. BlackRock used Securitize...
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 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...
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