Avax Fuels Jump in Funding
Weekly Recap
Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The last three weeks have shown an increase in CeFi funding, which has only been bested by Infrastructure. In contrast, Web3 and Gaming have seen minimal deal flow over the past month as investors may be focusing on picks and shovels in preparation of potential increased adoption in 2025.
From a deal stage perspective, beyond Avax’s token sale, Series A had the most funding, totaling $59 million across four deals. Strategic rounds tallied the most deals (8) comprising 24% of total deal count, but only 3% of funding. Seed rounds were the second most popular, with six deals including Fantasy.Top’s $4.25 million fundraise, which was also the only Gaming deal this week.
Funding by Category
Funding by Stage
Deal of the Week
Commonware, a blockchain development company, raised $9 million in an undisclosed rou...Reports you may have missed
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