Crypto Research

WEEKLY RECAP After last week’s surge, funding and deal count fell to robust levels despite the short holiday week. Funding totaled $98 million in 13 deals announced, with the majority again raised by infrastructure. Companies tackling privacy, data, and wallet or L1 scalability improvements continue to get funded as investors remain confident that multiple winners can emerge from already competitive verticals. Our deal of the week, Blast, is another example...

WEEKLY RECAP Total funding surged to $383 million this week, more than tripling last week’s total. The majority came from three CeFi deals: Blockchain. com, Fnality International (DotW), and BC Technology Group. They all completed funding rounds of approximately $100 million, making up three of the ten largest deals this year. Infrastructure was the most popular category from a deal count perspective, tallying 10 deals, while the remaining deals were...

WEEKLY RECAP Funding jumped $71 million from last week’s lackluster $30 million to total $101 million for the week. The deal count increased to 17, with 13 deals focused on seed-stage companies. Infrastructure remains the most popular category, although investors seem to be honing in on blockchain applications outside digital assets. The second largest deal of the week, Ingonyama, raised $20 million to develop next-generation semiconductors that leverage cryptography. Ritual,...

WEEKLY RECAP Crypto funding dropped significantly this week, falling from $144 million to $30 million, while deal count fell by more than 50%. Infrastructure was the most popular category, making up about two-thirds of total funding and total deal count. Within the Infrastructure category, two layer-2 networks (Layer N & Intmax) completed fundraises along with one layer-1 network (Waterfall Protocol). The average deal size was notably small this week at...

WEEKLY RECAP Funding is following the market higher, jumping $29 million from last week to $141 million. This week also saw a jump in activity, with 25 deals closed compared to 13 last week. Infrastructure was by far the most popular category, with 14 deals announced. Deals were funded in numerous infrastructure verticals, including trading software, payments, and compliance, among others. From a deal stage perspective, raises remain concentrated on Seed...

WEEKLY RECAP Weekly funding was on pace with last week’s levels, with total funding rising marginally to $76 million while deal count fell slightly to 11. DeFi was the most funded category this week, largely attributable to SynFutures’ $22 million Series B round (Deal of the Week). DeFi has been the hottest sector in Q4, making up 32% of total funding thus far. Infrastructure was the second most funded category...

WEEKLY RECAP Funding has fallen to $68 million after a strong week of funding saw teams raise $117 million to start the quarter. The average deal size across both weeks was ~$6 million, and deal count fell from 15 to 12. The largest raise came from crypto prime broker Membrane Labs, which closed $20 million in their Series A round from several noteworthy investors, including Brevan Howard Digital, Point72 Ventures,...

KEY SLIDES FROM THIS REPORT... QUARTERLY FUNDING (SLIDE 4) Q3 2023 FUNDRAISING OVERVIEW (SLIDE 6) DEAL VERTICAL SUMMARY (SLIDE 7) DEAL STAGE SUMMARY (SLIDE 8)

WEEKLY RECAP The crypto VC market finally broke its three-week streak of over $100 million weekly funding, falling to $78 million this week. Infrastructure emerged as the top-funded category for the second week, raising $48 million. Most came from Rated Labs and SupraOracles, two of our selected deals. This week, rather than the infrastructure blockchains we are accustomed to seeing, there was an emerging interest in data analytics and cross-chain...

WEEKLY RECAP This week marked the third consecutive week of total funding over $100 million. This week’s total rose to $136 million compared to last week’s $119 million. A trend has developed of projects beginning to emerge from stealth development and announcing their product updates or new fundraises. Projects may be seeing light at the end of the tunnel of this bear market and think it is the right time...

WEEKLY RECAP Momentum has continued after last week’s rebound in funding, with both deal count and total funding at similar levels. Total funding dropped $13m but still reached a robust $116m, while deal count stayed level with last week at 22 deals. Metaverse & Gaming is resurging after only three deals were announced for the category in August. These start-ups raised $31m in four deals, half of which came from...