Web3 Fundraising in Q4 💰Fundraising has increased 62% in Q4 compared to Q3 👀

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17 Jan 2024

So far, Q4 fundraising has hit $2.69 billion in 286 rounds, up 62% from Q3; deal count was up 18% in Q4 (286) from Q3 (242). (source: cryptorank)
Early-stage deal share (angel, pre-seed & seed round) decreased to 40%, in line with the 2023 average, falling below the 2022 average of 46%.
Most active investors in Q4 so far were Arbitrum (grants), followed by OKX Ventures, and Animoca Brands.
The largest deal in Q4 is Wormhole (Web3 messaging protocol) with $225m, led by Coinbase Ventures.
Total funding in 2023 sits at $9.5 billion, down 77% compared to 2022 ($42 billion).
Most projects in 2023 were funded in the US ($3.2 billion), followed by the UK ($930m) and Germany ($675m).
Here’s a list of the most notable fundings in Q4:
🌐 Andalusia Labs : $48M Series A. Digital asset infrastructure.
🕸️ Dynamic : $13.5M round, led by a16z crypto. Web3 onboarding platform.
💰 Babylon: $18M led by Polychain Capital. Bitcoin staking protocol.
📫 Wormhole : $225M. Web3 messaging protocol.
🎮 Matr1x: $10M extended Series A. NFT gaming.
🛍️ Gomdori: $12.5M Series B. Web3 e-commerce.
🕸️ Privy: $18M Series A, led by Paradigm. Web3 onboarding solution.
🌀 Blur: $40M funding for ecosystem development.
🔗 Blast: $20M led by Paradigm, EVM rollup. 🪄
Taproot Wizards: $7.5M, Bitcoin Ordinals.
🎲 Atlas: $6M, Web3 game design.
💱 Blockchain.com: $110M Series E. Crypto exchange.
🧠 Ritual: $25M led by Archetype. Decentralized AI compute.
🎮 Animoca Brands: $50M from Saudi NEOM. Web3 gaming.
🔒 Blockaid: $33M. Web3 security.
🔺 Threedium: $11M Series A. 3D commerce.
🕹️ Neon Machine: $20M, led by Polychain Capital. Web3 gaming.
🌙 Nocturne Labs : $6M, Ethereum privacy.
💡 smlXL: $13.4M seed, a16z crypto, Greylock. Blockchain infra.
🃏 Memeland: $10M, Web3 project by 9GAG team.
🎮 Forge: $11M Seed, Makers Fund lead. Gaming.
🏨 Blackbird Labs, Inc. : $24M Series A, led by A16z. Web3 loyalty.
💸 Membrane Labs: $20M Series A. Crypto trading/lending.
🎭 IYK*: $17M, a16z crypto. Digi-physical NFTs.
🔗 Supra: $24M for oracle network.
New funds & grants:

🌐 Polygon Labs: Launches $85M grant program for its ecosystem.
* 💰 SC Ventures by Standard Chartered & SBI: $100M firm for crypto startups.
* 🚀 Lightspeed Faction: $285M fund for Web3 startups.
* 💼 Deus X Capital: $1B firm for digital assets, blockchain, fintech.
* 🕵️ Nym Technologies SA: a16z-backed, $300M privacy-focused ‘Innovation Fund’.
* 🎮 CMCC Global: $100M for Hong Kong Web3 fund, targets gaming, metaverse, NFTs.
* 🌎 Web3 Foundation: $20M Polkadot fund for 2024.

The dynamic nature of Web3 fundraising in Q4 reflects a vibrant ecosystem marked by growth, strategic investments, and the emergence of new funds. As the space matures, the balance between early-stage and later-stage investments, coupled with the global distribution of projects, paints a picture of a Web3 landscape poised for sustainable expansion and innovation in the coming years.
Let me know in the comment which one you know and are working with, also don’t forget to follow. Thanks

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Written by Crypto Beast

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