Three Weeks of Triple-Digit Fundraising
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
Funding by Deal Stage
Deal of the Week
Proof of Play, a blockchain gaming and infrastructure company, raised $33 million in a Seed round le...Reports you may have missed
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WEEKLY RECAP Weekly funding rose by 37% from $132 million to $180 million, while the total deal count decreased slightly from 23 deals to 21. Funding was relatively evenly dispersed across categories, with four out of five categories raising more than $30 million, except Web3, which saw $8 million in funding. DeFi was the leading category in total funding and deal count, raising $56 million across nine deals. Series A...
WEEKLY RECAP Q4 has represented the least funded quarter in each of the past two years, and two weeks into this year, the trend is on pace to remain intact. The first week of the fourth quarter was one of the least funded weeks all year, with just $11 million raised across eight deals. Although not overly impressive, funding rebounded this week to $120 million across 21 deals. Concentration in...