Funding Cools to Start November
Weekly Recap
Crypto funding dropped significantly this week, falling from $144 million to $30 million, while deal count fell by more than 50%. Infrastructure was the most popular category, making up about two-thirds of total funding and total deal count. Within the Infrastructure category, two layer-2 networks (Layer N & Intmax) completed fundraises along with one layer-1 network (Waterfall Protocol). The average deal size was notably small this week at just $3 million compared to last week’s $7.2 million average.
From a deal stage perspective, deals were relatively evenly dispersed with seed rounds tallying the most at four. Additionally, pre-seed rounds made up 17% of total deal count and 15% of total funding. There were no token sales or late-stage deals this week but there was one M&A transaction, with Web3 firm Treehouse acquiring NFT analytics platform Origin Analytics to bolster its NFT offerings.
Funding by Category
Funding by Stage
Deal of the Week
Modulus Labs, a company enabling accountable artificial intelligence for dApps, raised $6.3 million in a seed round led by 1kx and Variant. Other investors include Floodgate, Alliance, Bankless, GCR, Inflection, and Stanford Blockchain. Additionally, Modulus is backed by angel investors such as Polygon, Solana, The Ethereu...Reports you may have missed
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