Farcaster Marks Eighth Unicorn of 2024

May 23, 2024 • 4 Min Read

Weekly Recap

Despite 24% fewer deals this week, total funding rose 38% from $157 million to $217 million, largely due to Farcaster’s $150 million Series A round (DotW). There was only one other Web3 deal besides Farcaster, which was the leading category from a funding perspective. Similarly, Series A rounds were the leader in funding this week, totaling $158 million across just two deals: Farcaster and an $8 million fundraise completed by WeatherXM, a dePIN project focused on a new weather network. Infrastructure had $44 million in funding across nine deals, DeFi had $18 million across seven deals, and there were no CeFi deals this week. A deal stage other than Seed rounds tallied the most deals for the first time in a few weeks. Strategic rounds were the most popular, totaling eight deals, including deals completed by Fantom and Monad. 

Funding by Category

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

Funding by Stage

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

Deal of The Week

Farcaster, a web3 social media platform, raised 150 million in a series A round led by Paradigm with participation from a16z, Haun Ventures, Variant Fund, Union Square Ventures, and Standard Crypto. The funding round values Farcaster at $1 billion, and the fresh capital will be used to add new product features, increase the number of daily active users,...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Reports you may have missed

Sign in to read the report!

We have detected you are an active member!

Ray: c85018-9dae20-eb73e5-6121b5-22543d