NFTs, Payments and VCs Lead Funding Craze
Key Takeaways
- NFT projects raised $185 million while payments companies raised over $600 million and new venture capital aggregate funds were $1.285 billion this week
- Deal of the Week: Crypto exchange FTX raises $420 million at a $25 billion valuation
- Active investors this week include Galaxy Digital, CMS, Polychain and Ribbit Capital
Venture Capital Deals
Deel is an international payroll, human resources and compliance management platform that helps companies manage international employees. Deel is a global platform for remote distributed teams. The Company has raised a Series D funding round of $425 million at a $5.5 billion valuation. Investors that participated in the deal include Coatue, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventires and NEO. COVID and technology has reshaped traditional workspaces and has created a remote work industry that continues to grow. (With Customers like Coinabse and Shopify, remote hiring startup Deel raises $425M at a $5.5B valuation).
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...
