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.
