Infrastructure, DeFi and NFTs Score a Goal
Key Takeaways
- NFT platforms raised a combined $933 million, and infrastructure raised $155 million in new funding this week
- Deal of the Week: Sorare, a soccer-NFT platform closed a $680 million Series B funding round
- Active investors this week include Softbank, Coinbase Ventures, and Digital Currency Group
Venture Capital Deals
Blockdaemon, a New York-based startup that builds blockchain nodes and other tech, has raised $155 million at a valuation of $1.26 billion. The Series B funding was led by SoftBank's Vision Fund 2. New investors include Matrix Capital Management, Sapphire Ventures and Morgan Creek Digital. Existing investors consist of Boldstart Ventures, Goldman Sachs, Greenspring Associates, CoinFund, Kenetic, Kraken Ventures, Borderless Capital, and Lerer Hippeau. (Blockdaemon Raises $155 Million in Series B Funding).
Reports you may have missed
WEEKLY RECAP As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....
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...
