Funding Rebounds from Slow September Start
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 this year.
There were 11 Seed rounds announced this week totaling $56 million, including our Deal of the Week, Hemi Labs. Two large-cap layer-1 networks received funding through Strategic rounds. #TON raised $30 million from Foresight Ventures and Bitget, and #APT raised an undisclosed amount, also from Foresight Ventures. Drift, a decentralized trading platform, completed a $25 million Series B round, representing the first Series B round in over four weeks.
Funding by Category
Funding by Stage
Deal of the Week
Hemi Labs, a crypto infrastructure company, raised $15 million in a seed round led by Binance Labs, Breyer Capital, and Big Brain Holdings. Other investors included crypto.com, Gate Ventures, SALT Fund, Sunflower Capital, Hyperchain Capital, and others.
Why is This Deal of the Week?
Common themes seen across crypto ventu...Unlock this article by joining our Community!
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