20 Blockchain Startups Raise $141.3 Million in Under 2 Weeks
In less than two weeks, a total of $141.3 million has been invested in the crypto, decentralized finance (defi), and blockchain sectors, according to recent reports. Morpho, a developer of decentralized lending solutions, was responsible for approximately 35.38% of the total funds raised by 20 different projects.
Despite the current downturn in the crypto markets, venture capital is still pouring into the industry, with a total of $141.3 million raised by 20 different startups. The largest funding round was led by Ribbit Capital, with participation from Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital, raising $50 million for Morpho.
Other noteworthy fundraising efforts include Andrena, an American internet service provider developing a decentralized broadband protocol called DAWN, which secured $18 million in an extended Series A round led by Dragonfly Capital. Vessel, a decentralized finance (defi) project building a ZK-powered order book trading platform, raised $10 million. Cartridge, a Web3 startup, raised $7.5 million, while Pentagon Games, a Web3 AI game publisher utilizing ZK-EVM technology, raised $6 million. Deagentai, a Web3 AI network, also raised $6 million. Curio, a Web3 game development company, raised $5.7 million.
Among the remaining projects, 375ai, a decentralized edge data intelligence startup, gathered $5 million, while Tonx, a superapp platform layer, raised $4 million. Zoth, the developers of Tokenized Liquid Note (ZTLN), secured $4 million. Moonveil Entertainment, a layer two (L2) gaming ecosystem startup, raised $3.6 million, and Payman AI, an artificial intelligence (AI) project, raised $3 million.
The other eight startups that received funding include Blockscout ($3 million), Khalani Network ($2.5 million), Pichi Finance ($2.5 million), Metadao ($2.2 million), Nexio ($2.2 million), Elmts ($2 million), Lync ($1.5 million), and Quantlytica ($1.1 million). Despite the challenges posed by the market conditions, investors continue to demonstrate strong confidence in blockchain and Web3 innovations. The diverse range of projects attracting significant funding highlights the ongoing interest in these emerging technologies.