Funding Declines During Election Week
Weekly Recap
Weekly funding sharply declined, falling 81% from $181 million to $35 million, with total deal count dropping 31% from 26 to 18. The decreases can potentially be attributed to projects foregoing announcements in light of a week filled with U.S. election headlines. 77% of funding fell into the Infrastructure bucket, totaling $27 million across seven deals. Similarly, funding was concentrated in Pre-Seed and Seed deal stages, collectively comprising 82% of funding and 39% of total deal count. A-WORLD, a web3 game built on BNB Chain, represented the sole Series A round announced this week. They raised $5 million from IBGTG Capital and Sketch Ventures to continue developing their battle card game.
Funding by Category
Funding by Stage
Deal of the Week
Vlayer, a zk-infrastructure company, raised $10 million in a pre-seed round from a16z, BlockTower Capital, Credo Ventures, and others. A $10 million pre-seed round ties them for the second largest pre-seed round in 2024 and the third largest going back to 2023. Vlayer is creating “Solidity 2.0” to reduce industry bottlenecks and improve the developer experience.
Why Is This Deal of the Week?
Blockchain applications a...Reports you may have missed
CORE STRATEGY: FOCUS ON MAJORS, KEEP HEAD ON SWIVEL UNTIL BONDS/DXY RELENT We think it's right to expect a bounce into year-end, potentially starting tomorrow if PCE data comes in soft. In our view, this cycle is far from over, but until bonds find a bottom and the USD tops, it’s likely best for the more tactical investor to stay nimble and prepared for opportunities upon confirmation of this trend...
