Funding Surges on The Back of EigenLayer
Weekly Recap
Crypto funding surged 72% to $234 million from $136 million, while deal count rose 14% to 25 deals. Infrastructure was the clear winner this week, largely due to Eigen Labs' $100 million fundraising round led by Andreessen Horowitz (DotW). The $100 million round is tied for the largest deal in 2024. For three consecutive weeks, funding and deal counts have primarily been concentrated in Infrastructure and DeFi deals, which is interesting considering DeFi was one of the least funded categories throughout 2023. DeFi projects raised $17 million across seven deals, representing 7% of total funding and 28% of the deal count. Of the disclosed deal stages, seed rounds accounted for the largest portion of fundraising and deal count, at 17% and 36%, respectively.
Funding by Category
Funding by Deal Stage
Deal of the Week
Eigen Labs, the development company behind EigenLayer, raised $100 million from a16z in an undisclosed round. The deal is tied with Hashkey Group for the largest fundraise of 2024. EigenLayer is an Ethereum restaking protocol, allowing staked Ether to be reused to secure other protocols or networks.
Why is This Deal of the Week?
Restaking is a new crypto primitive that has the potential to supercharge the crypto ecosystem...Reports you may have missed
WEEKLY RECAP Funding totals were low in a short week following the Labor Day holiday. Total funding fell by 66% from $193 million to $67 million, while total deal count fell 47% from 30 to 16. Only three categories tallied disclosed funding this week, with Gaming being the leader at $39 million. Infrastructure was the leader from a deal count perspective, with five deals comprising 31% of the total. There...
WEEKLY RECAP Weekly totals in fundraising and deal count showed slight decreases week over week. Total funding fell 7% from $199 million to $185 million, and deal count dropped 11% from 27 to 24. Infrastructure has dominated the month of August, making up 65% of the month’s funding and comprising 70% of this week’s total. Gaming and DeFi made up the majority of the remaining funding, representing 14% and 11%...
WEEKLY RECAP Weekly funding showed a slight decrease, falling from $211 million to $199 million, while the total deal count increased 37% from 19 deals to 26. Infrastructure was the leading category, totaling $156 million in funding across 12 deals and making up over three-quarters of the total amount. DeFi was the second leading category, with $26 million in funding, including SatLayer, a Bitcoin restaking solution similar to EigenLayer. This...
WEEKLY RECAP Weekly funding saw a notable increase from $82 million to $202 million, a 147% increase, while this week’s deal count was roughly in-line with the previous two weeks, notching 17 deals compared to 18. Infrastructure was the leading category in terms of fundraising, making up approximately two-thirds of the total with $137 million. CeFi was the next most funded category at $40 million, with the two companies receiving...
