Funding Takes a Breather

Feb 9, 2024 • 3 Min Read

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.

Funding By Category

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The video in this report is only accessible to members

Funding By Deal Stage

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

Deal of The Week

Oobit, a mobile payments app, raised $25 million via its Series A round led by Tether, with other participation from Solana co-founder Anatoly Yakovenko. Oobit’s valuation was not disclosed in the announcement. The Oobit app allows customers to pay for everyday purchases using crypto assets, while merchants rec...

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