Funding Activity Continues Gaining Steam
Weekly Recap
Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped them secure $80 million in bookings with another $200 million in the order pipeline. The funding will be used to scale its Teraflux revenues and enhance R&D for its portfolio of blockchain and AI security solutions.
Deal count fell to 27 this week, the first week under 30 deals since February. Infrastructure was the leader in deal flow and total funding, comprising 37% of deals and 70% of funding. DeFi projects have been consistently attracting deals, with three consecutive weeks of 8 deals and the second highest category total over the last three weeks. CeFi continues to be a laggard category from both a deal flow and funding perspective, with just two deals totaling $14 million over the last three weeks.
Funding by Category
Funding by Stage
Deal of the Week
Monad Labs, the development company of Monad, a full...Unlock this article by joining our Community!
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