As a seasoned researcher with a penchant for all things crypto and venture capital, I find it fascinating to observe the ever-evolving landscape of funding trends. This week’s report paints an intriguing picture, with venture capitalists funneling more money into fewer deals globally, but the U.S. continuing its lead in both deal count and funding value.
Venture capitalists are pumping more money into fewer deals.
According to the most recent venture capital (VC) report from GlobalData, based in London, the trend of increased total VC funding for startups is particularly noticeable in the U.S. From January through July this year, there was a 2.4% rise in VC funds raised by startups compared to the same period last year. However, the number of VC deals decreased significantly by 41%.
Nonetheless, the United States maintains a substantial advantage in the worldwide Venture Capital (VC) sphere, outpacing competitors such as China and Europe significantly. This edge is evident in both the number of transactions and the monetary worth, with a notable increase in deals worth more than $100 million fueling this dominance.
In the world of cryptocurrency, it’s not common for venture rounds to reach such high levels. However, this year has seen some exceptions like Berachain, a blockchain platform themed around bears, that managed to secure a funding of $100 million, and Farcaster, a decentralized social protocol, which bagged $150 million in its series A round.
Still, crypto startups continue to attract plenty of investor love, and this past week was no different. According to crypto fundraising tracker, Crypto Fundraising, over $141 million was raised between Aug. 25 and Aug. 31.
Below we look at a few standouts (not including the funding rounds with undisclosed amounts).
Bridge, $58 million
- Bridge, a global stablecoin payment network, has raised $58 million in funding thus far, including $40 million in fresh capital.
- Sequoia, Ribbit and Index are among its backers, according to Fortune, which broke the story.
- The startup, co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, now counts Coinbase among its customers — the other being SpaceX.
Edge Matrix Chain, $20 million
- Edge Matrix Chain, which specializes in multi-chain artificial intelligence infrastructure, collected $20 million in a round led by Amber Group and Polygon Venture.
- One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury also joined the effort.
- Edge Matrix hopes to put the funds toward a Layer 1 blockchain and, ultimately, introduce a new DeFi asset class backed by tokenized real-world GPU resources.
Solayer, $12 million
- Solayer Labs clinched $12 million in seed funding. Polychain Capital led the round; Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Maelstrom also participated.
The startup is developing a Solana (SOL) restaking protocol.
Gameplay Galaxy, $11.17 million
- Gameplay Galaxy, a web3 video game studio, amassed $11.17 million as part of a seed extension round.
- Blockchain Capital and Merit Circle co-led the round; Several anonymous investors also took part.
Myco io, $10 million
- UAE-based Web3 streaming platform, Myco, completed the first closing of its Series A funding round, which included a $10-million sum.
- Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter joined the campaign along with 88 accredited investors via Republic.com.
Double Jump Tokyo, $10 million
- SBI Investment led a $10-million Series D funding round for Japanese web3 game maker Double Jump.Tokyo, a developer of blockchain games and infrastructures.
- Sony Group, Taisu Ventures, Gate Ventures, TM Capital and Bing Ventures also participated.
Additional funding rounds < $10m
- Quai Network, $5 million
- OneBalance, $5 million
- Chainbound, $4.6 million
- SnakeLite, $4 million
- Nectar AI, $3.9 million
- Level Protocol, $3.6 million
- Echelon Market, $3.5 million
- Time Fun, $3 million
- Verofax, $3 million
- Kredete, $2.25 million
- Legion, $2 million
- Origami Finance, $1.5 million
For last week’s edition of our “Crypto VC roundup,” click here.
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2024-08-31 18:32