As a seasoned crypto investor with a decade of experience under my belt, I find this latest venture capital funding report both encouraging and intriguing. The $2.4 billion invested in blockchain-based startups during Q3 2024 represents a slight decline from the previous quarter but is still impressive considering the overall market conditions.
In Q3 of 2024, venture capital investments in startup companies using blockchain technology totaled approximately $2.4 billion, which represents a 20% decrease compared to the second quarter as reported by Galaxy Research.
From July to September, there was a 17% decrease in crypto startups completing deals compared to the previous quarter, totaling 478 deals. However, the year is still on track to meet or surpass the investment levels of 2023, with $8 billion already invested in these startups. Crunchbase’s Web3 Tracker previously reported a more modest figure of $5.4 billion in venture capital invested in the first three quarters of this year.
As per Galaxy’s findings, there has been a fivefold surge in funding for startups integrating artificial intelligence and blockchain technologies over the past three months. Notable investments came from Sentient, CeTi, and Sahara AI, which together managed to secure $188 million in financing.
During the past quarter, layer-1 blockchain projects garnered significant attention, accounting for approximately 13.6% of the total capital, or $341 million. Exochain and Story Protocol accounted for over half of this amount. Subsequently, companies focused on trading, exchanges, and infrastructure raised $265.4 million and $258 million respectively.
Conversely, investments in the Web3 and gaming industries saw the steepest decrease of 39%, making it the most affected sector compared to others.
As a researcher delving into venture capital trends, I’ve uncovered some fascinating insights. It appears that an astonishing 85% of the funding in question goes to early-stage companies, according to recent reports. Interestingly, the median pre-money valuation for these deals is estimated at around $23 million. On the other hand, the average deal size comes in at a substantial $3.5 million.
In this issue of CryptoMoon’s Venture Capital Roundup, we highlight a selection of companies that successfully secured funding during the first week of November.
Eidon AI secures $3.5 Million seed funding led by Framework Ventures
Brevis raises $7.5M for verifiable computing with offchain ZK-proofs
The zero-knowledge platform, Brevis, has garnered $7.5 million in seed funding, predominantly from Polychain Capital and Binance Labs, with contributions also coming from IOSG, Nomad Capital, Bankless Ventures, HashKey, and various angel investors. This platform performs off-chain computations that are later verified on the blockchain using ZK-proofs. In simpler terms, Brevis’s zero-knowledge coprocessor allows smart contracts to retrieve and compute past on-chain data without having to bear the computational burden directly. As per Binance Labs, this technology streamlines data-driven decentralized finance (DeFi), GameFi, and other Web3 applications, all while preserving liquidity and avoiding state fragmentation issues. Pioneering users of Brevis’s technology include Kwenta, JoJo Exchange, and Trusta.
Multiledgers lands $1M investment for ESG-linked assets
Multiledger, a blockchain-based company specializing in Environmental, Social, and Governance (ESG) asset management, has secured approximately $1 million in funding. This investment round was jointly headed by Oxygea and Indicator Capital, with Koyamaki Ventures also contributing. The platform aims to streamline the handling of ESG assets like carbon credits and renewable energy bonds for businesses.
Alluvial secures $4.3M in strategic funding, total reaches $22.5M
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2024-11-15 20:30