Andalusia Labs Achieves Unicorn Valuation

Dec 15, 2023 • 4 Min Read

Weekly Recap

Crypto funding remained elevated for the third consecutive week, totaling $271 million, a slight drop from last week’s $289 million. The most funded category was Web3 and NFTs, largely due to a $140 million round closed by Line Next, the Web3 unit of the Japanese messaging app Line. Crescendo Equity Partners, a Peter Thiel-backed private equity firm, led the investment round. Infrastructure was the most popular category from a deal count perspective, tallying 12 deals worth $69 million, including our Deal of the Week, Andalusia Labs.

The majority of this week’s funding rounds failed to disclose the deal stage, but Series A and Seed rounds accounted for 33% of total funding and 41% of the deal count. There was one Series B round completed by Lolli, a cashback Bitcoin rewards company, marking the second consecutive week with a successful Series B round in a year that has only seen thirteen total. It will be interesting to watch if there is an uptick in mid to late-stage deals in 2024.

Funding By Category

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The video in this report is only accessible to members

Funding By Stage

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The video in this report is only accessible to members

Deal of the Week

Andalusia Labs, formerly known as Risk Harbor, raised $48 million in a Series A round from Lightspeed Venture Partners and Mubadala Capital, valuing the risk-management infrastructure company at o...

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