This Is Not Biden’s Infrastructure Bill
Jan 14, 2022
• 12
Min Read
Key Takeaways
- This week’s venture capital was heavily weighted towards infrastructure projects, with some dabbling into NFTs, Gaming, DAOs, and DeFi. Crypto infrastructure projects raised over $1.3 billion, with interoperability and usability as the biggest attractions in the space. Token sales were effective fundraising instruments this week, raising $85 million for 3 protocols. Signs point to a massive influx of capital in future Funding Fridays, as 3 new funds raised $7.9 billion in capital this week.
- Active investors this week include Animoca Brands, Alameda, Dragonfly, and FTX.
- Deal of the Week: Checkout.com raised $1 billion, valuing the company at $40 billion, in order to build out products that allow for an individual to entirely cut the cord from fiat currencies.
Venture Capital Deals
Torus, now Web3Auth, is an authentication infrastructure technology that simplifies the process of saving, protecting, and using private keys for crypto wallets. The company raised $13 million in a Series A round led by Sequoia Capital India, with Multicoin Capital, FTX, Bitcoin.com, and LD Capital participating among many others. The technology breaks up a user’s key into three “secret shares” and distributes them to the user and across the Torus network, and only requires two of the th...