Infrastructure and DAO Tooling in the Spotlight
Key Takeaways
- Infrastructure remained the hottest sector in crypto this week, with Helium’s $200 million raise as the stand-out. NFT/metaverse projects also remain of interest to investors broadly. The sub-category of DAO tooling is gaining more traction with RabbitHole’s $18 million raise. Like last week, DeFi was relatively inactive, with only a few deals closed focusing on derivatives and cross-chain liquidity.
- Active investors this week include Multicoin Capital, Tiger Global, Alameda Research, Polychain Capital, Dragonfly Capital, Seven Seven Six, Sequoia Capital, and Jump Capital, amongst others.
- Deal of the Week: 3Box Labs raised $30 million to support its development of the web3 social platform and composability network, Ceramic. Ceramic aims to provide a scalable infrastructure layer for data, a clearinghouse for sharing data models between network users, and an open API toolkit.
Venture Capital Deals
Blockchain interoperability Network, Axelar raised $35 million this week at a $1 billion valuation. Participants in the round include Dragonfly Capital, Polychain Capital, North Island Ventures, Rockaway Blockchain Fund, Cygni Capital, Lemniscap, Olive Tree Capital, Blockchange Ventures, Node Capital, amongst others. Axelar also continues to form partner...Reports you may have missed
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