Funding Rebounds
Weekly Recap
Funding levels have rebounded significantly, rising nearly 4x from last week to reach $211m this week. Half of the funds raised came from industry veteran BitGo’s $100m series C round, our deal of the week. Web 3 & NFTs saw a significant jump in funds raised, with companies like ZTX and Port.3 looking to utilize blockchain technology for novel use cases. Infrastructure continues to be the main focus of investors, contributing $174m of the total $211m raised. DeFi deals fell substantially, with only $7m raised in one deal, as investors favored infrastructure and software companies focused on data analytics and AI. While this was a strong funding rebound, most deals were likely closed before this week’s steep market drawdown. It will be interesting to see if investors continue funding amid broader market uncertainty or if spot prices have a noticeable impact on deals closed and funds raised going forward.
Funding by Category
Funding by Deal Stage
Deal of The Week
This week's Deal of the Week is BitGo, which raised $100 million in a series C round. The Palo Alto-based Crypto Custodian declined to disclose participating investors. The funds will be utilized to meet the growing demand for regulate...Reports you may have missed
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...
WEEKLY RECAP This week’s $113 million in funding was less than half of last week’s $242 million, although the deal count showed a more modest 17% drop to 30 deals. Infrastructure continues to be the most popular investment category. Infrastructure’s $66 million in funding was stapled by Nexus Labs and Nuffle Labs’ $25 million and $13 million respective investment rounds. After tallying a few deals in the previous two weeks,...
WEEKLY RECAP Weekly funding fell by almost 50% to $182 million, while the deal count fell by about a third to 23. The Infrastructure category led both funding and deal count, bolstered by Avail’s $47 million Series A round. CeFi saw $26 million in funding, including XREX’s $18.75 million strategic round with Tether. XREX will use the funding to help facilitate regulatory-compliant cross-border payments using USDT. Gaming had the second...
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