dePIN Goes Solar
Weekly Recap
Weekly funding increased 65% from $103 million to $170 million despite the deal count falling 15% from 26 to 22. Eight companies raised $10 million or more this week, in contrast to just 10 companies combined in the last two weeks. The bulk of funding was concentrated in the Infrastructure category, with projects raising $112 million across 12 deals. DeFi was the second most funded category, with $48 million across five deals. Among the four Gaming deals, Gunzilla Games, the creator of Off the Grid, notably raised an undisclosed amount from VanEck, representing the asset manager’s second crypto-gaming investment alongside Parallel. From a deal stage perspective, Series A was the leading funding category, comprising 30% of the funding total and 18% of the total deal count. Seed rounds were the most popular deal stage, with eight deals totaling $43 million.
Funding by Category
Funding by Stage
Deal of the Week
Glow, a solar-focused dePIN project, raised $30 million in an undisclosed round led by Framework Ventures and Union Square Ventures. $6.5 million will fund Glow’s operations, while the remainder will support the expansion of solar farms being built in India. Gl...Unlock this article by joining our Community!
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