Research Summary
This report provides a detailed analysis of crypto fundraising activities for the week of 03 – 09, Sep 2023. It covers the funding rounds of 16 blockchain startups that collectively raised $119M. The report also highlights the key players, their offerings, and the investors involved in these funding rounds.
Key Takeaways
Overview of Funding Rounds
- Various Funding Rounds: The report details various funding rounds including unknown, seed, series A, strategic, and pre-seed rounds. The unknown round saw the highest funding with $70.5M across 7 startups.
- Significant Funding: Story Protocol raised the week’s biggest funding round of $54M from Andreessen Horowitz, Hashed, Endeavor, and Samsung Next.
- Investment by Ecosystem: The report provides a breakdown of investments by ecosystem, although specific details are not provided.
Key Startups and Their Offerings
- Story Protocol: A web3 technology that aims to transform storytelling by providing infrastructure for creators to build narrative universes and imaginary worlds using open source principles.
- OpenCover: A DeFi risk mitigation platform that offers standardized, unbiased industry data to enhance the safety and accessibility of DeFi for all users.
- Helix: A blockchain-based platform designed to connect crypto lenders with real-world assets, enabling access to off-chain private credit in emerging markets.
Investors and Their Contributions
- Andreessen Horowitz: Participated in the week’s biggest funding round, contributing to Story Protocol’s $54M funding.
- NFX and Jump Crypto: Contributed to OpenCover’s $4.6M Seed funding round.
- Saison Capital and Superscrypt: Participated in Helix’s $2M Pre-seed funding round.
Actionable Insights
- Investigate the Potential of Story Protocol: Given its significant funding and innovative approach to storytelling, Story Protocol presents an interesting case for further exploration.
- Consider the Impact of DeFi Risk Mitigation Platforms: Platforms like OpenCover, which aim to enhance the safety and accessibility of DeFi, could play a crucial role in the future of the industry.
- Explore the Intersection of Blockchain and Real-World Assets: Startups like Helix, which connect crypto lenders with real-world assets, could potentially transform lending and credit access in emerging markets.
