March Starts Strong
Weekly Recap
Funding through the first week of March was strong, rising 10% from $162 million to $177 million. Total deal count fell 23% but was still impressive, with 31 deals. Infrastructure remains the dominant category, representing 85% of total fundraising and 61% of the deal count. DeFi tallied 26% of the deal count this week, including a $4.5 million strategic round by Blackwing, a modular blockchain for liquidation-free leverage trading. A variety of deal stages saw activity this week, with four stages tallying three or more deals. Although deal count was dispersed, 69% of funding was concentrated in the three Series A rounds this week, including the third largest deal of the year - a $73 million round closed by Zama (DotW). Seed rounds were the next most funded category, totaling $31 million across six deals.
Funding By Category
Funding by Deal Stage
Deal of the Week
Zama, an open-source cryptography company, raised $73 million in a Series A round led by Multicoin Capital and Protocol Labs (Filecoin). Other investors included Metaplanet, Blockchange Ventures, Vsquared Ventures, and Stake Capital. The funding will be used to continue researching its cryptography tools, developing better solutions, and expanding the team. The $73 million ...Reports you may have missed
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