Story of Intellectual Property
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 week consisted of the first Series B round in over six weeks, completed by PIP Labs (Story Protocol), our Deal of the Week. Seed rounds comprised the highest portion of deal flow, representing 42% of the total deal count while only making up 25% of funding.
Although not included in the totals below, a notable mining M&A transaction was announced this week. Bitfarms agreed to acquire Stronghold Digital Mining for $125 million in stock. Stronghold shareholders will receive 2.52 Bitfarms shares for each share held, an approximate 70% premium from its 90D volume-weighted average price. The transaction also includes assumed debt of about $50 million. The transaction is notable, considering Bitfarms is actively fending off a takeover attempt from Riot Platforms.
Funding by Category
Funding by Stage
Reports you may have missed
WEEKLY RECAP As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....
WEEKLY RECAP Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The...
WEEKLY RECAP Crypto funding rose 60% week-over-week from $145 million to $232 million, while total deal count decreased 7% from 29 to 27. CeFi was the leading funding category, totaling $145 million across three deals and comprising 63% of all funding. The total was bolstered by Public’s $130 Series D round, representing only the second Series D round in 2024. Although CeFi has been a laggard category all year, three...
WEEKLY RECAP Despite liquid crypto prices rising, private market funding remains lackluster thus far in Q4. Aggregate funding fell 29% week-over-week, decreasing from $155 million to $109 million, while deal count fell by over 31% from 22 to 15. Infrastructure was the leading category from both a financing and deal count perspective and included our Deal of the Week, Noble. The largest deal was Monkey Tilt, which raised $30 million...
