Venture Funding Remains Robust Despite Macro Uncertainty
While liquid markets continued to chop this week, venture funding remained relatively robust with over 45 deals completed for a total of $574 million – a slight downtick from last week’s $600 million. Web3 projects raised $227 million, the most of any other category, with CeFi coming in second having raised $190 million. Metaverse/gaming projects were overlooked this week; however, Japanese game developer Akatsuki raised a $20 million fund that will be deployed over the coming months. Other fund launches include Binance Lab’s $500 million Web3 fund and Canonical Crypto’s $20 million infrastructure fund.
Most deal making continues to occur in early stages. Pre-Seed accounted for 17.6% of total deal count while Seed made up 47.1% this week. Last week Pre-Seed and Seed made up 17.9% and 42.9%, respectively.
Deal of the Week
Astra Protocol is a decentralized compliance solution for the growing Web3 economy. With the help of Astra, protocols can comply with government regulations while still maintaining decentralization. Astra raised $100 million from Republic in their Series A funding round, valuing Astra at $500 million. This investment comes after a successful $9 million raise in December which was also led by Republic, with participation from Fundamental ...Reports you may have missed
WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...
