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.