Building Foundations
Funding saw an uptick this week, with the total amount rising to $280 million from $242 million last week. Infrastructure had a dominant week, comprising nearly 87% of all dollars raised. Most funding came from a $200 million Series C round by Matter Labs (this week’s deal of the week). The next largest deal was a $28 million deal by Arkon Energy. Arkon Energy is a data center infrastructure and Bitcoin mining company focused on renewable and sustainable energy. The $28 million deal will be used to expand its mining capacity during a time when traditional mining companies are struggling to keep the lights on due to increasing energy costs. The focus on renewable and cheap energy is paying off for Arkon and could be a signal for the future of mining companies.
Deal counts were primarily concentrated in Seed and Pre-Seed deals, which totaled 42% and 14% of deals, respectively. Series C and Strategic rounds both tallied one deal this week, while the rest of the deal types were undisclosed. Additionally, this week included a crypto fund and ecosystem raise, a token pre-sale, and an M&A deal.
