Venture Funding Hits Monthly Lows
Funding fell this week, making it the lowest funded week of the month. Total deals dropped from 43 to 26, and the amount of funding decreased from $466M to $386M. Despite the decrease in funding, infrastructure had its highest deal flow all month at $131M, up from $30M last week. There were four infrastructure deals, the largest of which being Halborn, a blockchain security platform. Other infrastructure deals included Metabit, Zebedee, and Fedi. Defi also saw an uptick in investment this week, increasing from $33M to $80M. This was led by a $33M funding round for Meow, a platform backed by Tiger Global Management that allows corporate treasuries access to crypto yields. Each other category saw a decrease in investment, with Metaverse/Gaming decreasing the most from $142M to $13M. NFX, a venture capital firm with over $1 billion in total capital commitments, was the only investment fund that received funding this week. NFX added $62.61 million to its second fund for follow-on investments.
While most deals remain in the early stages (58.8% of deals this week were Seed Round), later-stage deals got more attention than usual. Series A and Series B deals accounted for 17.6% and 5.9% of deals, respectively.
Selected Deals
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