Three Weeks of Triple-Digit Fundraising

Sep 22, 2023 • 4 Min Read

Weekly Recap

This week marked the third consecutive week of total funding over $100 million. This week’s total rose to $136 million compared to last week’s $119 million. A trend has developed of projects beginning to emerge from stealth development and announcing their product updates or new fundraises. Projects may be seeing light at the end of the tunnel of this bear market and think it is the right time to emerge.

Infrastructure was the most popular category this week, comprising 47% of the total funding amount and 44% of the deal count. CeFi has seen a notable uptick in recent weeks, totaling $22 million this week across two deals. Investors may be moving on from the woes of previous CeFi blowups and beginning to allocate to the sector again.

From a deal stage perspective, fundraising was highly concentrated in Seed deals, which made up two-thirds of the total funding. Proof of Play (deal of the week) raised $33 million in a Seed deal, the second-largest Seed investment this year. Overall, the last three weeks of funding data paint a rosier picture of the space heading into Q4.

Funding by Category

The chart in this report is only accessible to members
The chart in this report is only accessible to members

Funding by Deal Stage

The chart in this report is only accessible to members
The chart in this report is only accessible to members

Deal of the Week

Proof of Play, a blockchain gaming and infrastructure company, raised $33 million in a Seed round le...

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