Sluggish Start to Q4
Weekly Recap
Q4 has represented the least funded quarter in each of the past two years, and two weeks into this year, the trend is on pace to remain intact. The first week of the fourth quarter was one of the least funded weeks all year, with just $11 million raised across eight deals. Although not overly impressive, funding rebounded this week to $120 million across 21 deals. Concentration in the Infrastructure category continues to present itself as a recurring theme, representing 74% of this week’s funding and 62% of the deal count. Gaming was the second most funded category, which included a $10 million Seed round completed by PiP World, which is aspiring to become the “Duolingo of crypto” through a gamified educational experience.
Seed rounds led fundraising and deal counts among disclosed deals, representing 29% of total funding and 33% of total deal count. Three strategic rounds were completed this week, including #TON raising $10 million from Gate.io. The crypto exchange plans to deepen its involvement and governance of the network and contribute to its ongoing development.
Funding by Category
Funding by Stage
Deal of the Week
Yala Finance raised $8 million i...Unlock this article by joining our Community!
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