2024 Funding Recap
Key Takeaways
- Funding Down, Deal Count Up: Crypto funding decreased modestly in 2024, falling 2% year-over-year from $8.6 billion to $8.4 billion. Although funding was down slightly, deal count grew 27% year-over year from 1,071 deals to 1,358.
- Infrastructure Remains King: Infrastructure dominated fundraising throughout 2024, tallying $4.6 billion in investment across 601 deals, representing more than half of all funding.
- Unicorns Concentrated in Infrastructure Plays: The two largest valuations in 2024 came from layer-1 blockchains, Monad and Berachain. There were six companies that achieved unicorn status, with all of them falling into the Infrastructure category, with the exception of Hashkey Group (CeFi).
- Seed & Series A are Preferred: Seed and Series A deals were preferred in 2024, accounting for 50% of the total funding amount. Seed rounds were the most popular deal stage for the third year in a row, representing 30% of all deals.
- Private Market Trends: Common themes throughout 2024 included artificial intelligence, data solutions, and intents-based projects. All three categories are beginning to converge within the DeFai movement as AI agents begin transacting on-chain on behalf of users.
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Key Slides:
Yearly Comparison
Quarterly View
Deal Vertical Summary
Deal Stage Summary
Largest Valuations
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MONTHLY RECAP February showed a modest increase in funding amount and deal count compared to January. Total funding rose 7% to $1 billion, and deal count increased 8% to 116 deals. Infrastructure was the leading category, with $388 million raised across 58 deals. CeFi has had its third consecutive month of nine-figure investment with less than 10 deals. The largest raise in February was a $200 million undisclosed round completed...
MONTHLY RECAP 2025 started on a strong foot, with January funding rising 5% month-over-month to $938 million from $895 million in December, while the deal count decreased 8% from 116 to 107. Infrastructure was the leading category of January, totaling $628 million in funding across 64 deals, representing 67% of total funding and 60% of total deal count. Although there were only six CeFi deals in January, it was the...
WEEKLY RECAP As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....
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...
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