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 In the last full week of September, crypto funding rose 40% from $167 million to $233 million despite the deal count falling by almost half from 29 to 15 deals. This week was a relatively unique week for funding, 97% of funding and 93% of deals falling within the Infrastructure and DeFi categories. CeFi and Web3 saw no deal flow, and Gaming had just one deal for $6...
WEEKLY RECAP Weekly funding increased 67% from $100 million to $167 million, while the deal count rose a modest 8% from 26 to 28. Infrastructure was the clear winner this week, raising $110 million across 14 deals, representing two-thirds of total funding and half of the total deal count. There were two CeFi deals totaling $9 million in funding, which remains a laggard category, tallying only 55 deals so far...
WEEKLY RECAP Funding activity bounced back from last week’s muted totals, with total funding rising 44% from $67 million to $96 million and deal count increasing 56% from 16 to 25. DeFi was the leading category from both a fundraising and deal count perspective, raising $44 million across 11 deals. This week's largest deal was a DeFi investment – Huma Finance raised $28 million in a Series A round to...
