Last week, venture capital and investment firms invested $201.4 million in crypto projects with Metaverse startup prophecy And risc zero Getting the biggest amount of money.
Eleven companies recently announced funding rounds, including two extraordinary raises. Metaverse startup Futureverse has raised an impressive $54 million in its Series A funding round led by 10T Holdings and Ripple Labs.
At the same time, RISC Zero, a provider of zero-knowledge-proof tools for developers, raised $40 million in a Series A round.
Futureverse has a clear mission: to empower developers and users by providing a collaborative ecosystem that integrates 11 Metaverse infrastructure and content companies.
Futureverse intends to use the funds raised from the funding round to enhance its broader technology, which includes the Futureverse platform and The Root Network, its blockchain.
In addition to RISC Zero, five other companies in the infrastructure sector were involved in the funding round: Cosmic Wire, Manta Network, Echo Wallet, Side Protocol and Over Protocol.
Growing interest in infrastructure funding: Venture capitalists pumped in $210 million in June alone
Infrastructure funding is on the rise, with venture capitalists (VCs) showing increasing interest in the sector.
In June alone, the infrastructure sector received over $210 million in funding across 26 funding rounds, and this trend has continued in recent weeks.
Last week, Seattle-based developer risk zero Secured $40M in Series A funding led by Blockchain Capital, with participation from major investors such as Bain Capital Crypto, Galaxy Digital, IOSG and RockawayX. Risk Zero, directed by CEO Brian Retford, aims to increase access and efficiency for ZK-powered applications across various computing environments.
cosmic strings, A Web3 and blockchain solutions technology company successfully raised $30M in its Series A seed round from leading investors including Solana Foundation and Polygon. This funding marks Cosmic Wire as the first cross-chain-funded Web3 company.
manta network, an ambitious project, raised an impressive $25 million in Series A funding led by renowned investors Polychain and Qiming Venture Partners. Notable backers such as AllianceDAO, SevenX Ventures and Coinfund contributed to the project’s momentum.
superblock, a key player in the development of over protocolraised $8 million in funding from leading South Korean companies and venture capitalists, including SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ.
Additionally, Side Labs, the firm behind the Cross-Blockchain Liquidity Network side protocol, successfully raised $1.5 million in funding through the SAFT round. With participation from investors such as Hashkey Capital, KR1, Continuum Capital, Symbolic Capital, Informal Systems, Dora Ventures, Charles Lu, Harry Halpin, Eric Chen, Mirza Uddin, Siddharth Dutta and Vincent Nieu, the firm’s token valuation reached $30 million, as the firm’s co-founder Shen Qiu said.
Crypto Fundraising To Peak In February 2023, But Decline In June; overall growth trend
Crypto fundraising peaked in February 2023, with $947 million raised from 123 funding rounds. However, since then, there has been a steady decline in fundraising activities.
In June, venture capital funding reached an all-time low in the crypto space, securing $520.1 million across 84 funding rounds, marking a decrease of 23.11% compared to May.
However, the overall trend for 2023 indicates an increase. Positive developments such as applications for bitcoin exchange-traded funds (ETFs) by major players such as BlackRock, VanEck, WisdomTree and Fidelity and Ripple’s legal victory against the Securities and Exchange Commission have lifted industry sentiment.
In just one week, $201.4 million was raised, showing the continued positive momentum in the crypto sector.