Research Summary

This report provides a comprehensive overview of crypto fundraising activities that took place during the week of September 10-16, 2023. It details the funding rounds of 20 blockchain startups that collectively raised $97.8M. The report highlights the largest funding round, which was Mocaverse’s $20M, and provides detailed information about each startup’s business model and the investors involved.

Key Takeaways

Investment Distribution

  • Seed and Pre-seed Rounds Dominated: The majority of the funding was raised in seed and pre-seed rounds, with 11 startups raising $52.6M and 3 startups raising $5.2M respectively. This indicates a strong interest in early-stage blockchain startups.
  • Unknown and Series A Rounds: Five startups raised $30M in unknown rounds, while one startup raised $10M in a Series A round, showing that there is also significant funding available for more mature startups.
  • Investment by Ecosystem: The report does not provide a breakdown of investments by ecosystem, but it does highlight a variety of startups operating in different areas of the blockchain ecosystem, including DeFi, NFTs, payments, and infrastructure.

Notable Fundraisings

  • Mocaverse’s $20M Funding Round: Mocaverse, a gamified metaverse product, raised the largest funding round of the week. The startup allows users to collect, play with, and trade unique Moca beings as NFTs.
  • Fipto’s $16M Seed Round: Fipto, a global B2B payments and treasury management solution, raised significant funding. The startup leverages blockchain technology for fast, cost-effective, and transparent cross-border payments.
  • Layer N’s $5M Seed Round: Layer N, a high-performance layer-2 blockchain, raised a substantial seed round. The startup aims to enhance the speed and scalability of financial applications on Ethereum.

Emerging Trends

  • Focus on DeFi and NFTs: Many of the funded startups operate in the DeFi and NFT spaces, indicating that these areas continue to attract significant investment.
  • Blockchain Infrastructure Development: Several startups, such as Layer N and Movement Labs, are focused on developing blockchain infrastructure, suggesting a growing demand for scalable and efficient blockchain solutions.
  • Web3 and Cross-Border Payments: The funding of startups like Fipto and Parallax shows a growing interest in leveraging blockchain for cross-border payments and Web3 development.

Actionable Insights

  • Investigate the Potential of Early-Stage Startups: The dominance of seed and pre-seed rounds suggests that early-stage blockchain startups present significant opportunities. Investors and stakeholders should explore these startups for potential partnerships or investments.
  • Consider the Impact of DeFi and NFTs: The continued investment in DeFi and NFT startups indicates that these sectors are likely to play a significant role in the future of the blockchain ecosystem. Stakeholders should consider how these trends might impact their strategies.
  • Assess the Need for Blockchain Infrastructure: The funding of blockchain infrastructure startups suggests a growing demand for scalable and efficient blockchain solutions. Companies operating in the blockchain space should assess their infrastructure needs and consider whether they could benefit from these emerging solutions.

Visit the full report here


Related Research