Funding Takes a Breather
Weekly Recap
Crypto funding cooled to $85 million this week, the first sub-$100 million week since the start of 2024. Funding was relatively evenly distributed across the DeFi, CeFi, and Infrastructure categories, totaling approximately 85% of the fundraising, while Web3 and Gaming only comprised about 15%. Deal count fell 28% from 29 to 21. DeFi was the most popular category from a deal count perspective, tallying eight deals and representing 38% of all deals. Looking at deal stages, fundraising was concentrated in Seed and Series A rounds, which made up about 70% of total funding and 52% of the deal count. The largest fundraising round this week was Oobit’s $25 million Series A deal (DotW). Three strategic rounds were announced this week, including an investment from Sony’s Innovation Fund, which invested an undisclosed amount into Carry1st, the top game publisher in Africa.