200 crypto projects raised $823 million in funding in September

Growth in funding for the month was 4%

07.10.2024 - 10:50

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What’s new? Crypto projects raised $823 million in funding in September. According to The Tie Terminal, 200 companies received funds, with the largest round being the $100 million raised by Celestia’s modular blockchain team through an over-the-counter (OTC) token sale led by Bain Capital Crypto.

Material by Blockworks

What else is known? In second place is Infinex, a decentralized platform for trading perpetual contracts from the Synthetix Ethereum protocol team. The team raised $65,3 million through the Patron non-fungible token (NFT) sale, with Wintermute, Framework, and Near participating.

The decentralized finance (DeFi) sector had the highest number of rounds, with 33. The protocol development and gaming/metaverse categories each had 22 rounds. Last month, 17 infrastructure providers and 13 artificial intelligence projects also raised funds.

Projects in the decentralized physical infrastructure (DePIN) segment continue to gain popularity, with 10 of them managing to raise funding in September. Also, 10 providers of cryptocurrency staking services received funding.

From January through August, venture capital crypto firms raised over $2,2 billion to invest in startups

In the last month, the amount of funds raised has exceeded $500 million

Less popular were information and analytical services, real-world asset (RWA) tokenization platforms, exchanges, price oracles, payment solutions, and layer 2 (L2) networks — seven or fewer projects in each category raised funds during the month.

In terms of funding, the categories of protocol development and DeFi projects lead the way with figures approaching $200 million. Next with a significant lag are games and metaverses, exchanges, and media, in each category the total amount of funds raised is $80 million or less.

According to analyst Colin Wu, venture capital funding for crypto projects totaled $790 million in August. Thus, the growth in the volume of funds amounted to more than 4% for the month. As for the number of rounds, there were only 112 in August, and the growth in this indicator amounted to 79%.

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