Farcaster Marks Eighth Unicorn of 2024
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
Funding by Stage
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,...Reports you may have missed
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