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| In August, blockchain projects attracted almost $470 million in investments, ucryptoearn.com |
In August, Web3 and blockchain projects received nearly $470 million in funding. AI companies raised another $310 million.
The most active investor was the Binance Labs venture fund.
The funds focused mainly on projects developing decentralized finance and Web3.
Based on the results of August 2023, 85 startups and projects attracted funding totaling $469.79 million. The editors of Incrypted analyzed this month's investments in detail.
The leader in terms of the amount of funding raised was the cryptocurrency custodial service BitGo , which received $100 million. The company did not disclose its investors, but reported that they were all based in the USA and Asia. The company said its latest funding round brings its valuation to $1.75 billion.
The STELSI project also attracted investments of $100 million . It received funding from NGC Ventures, a fund that specializes in investing in the Web3 and metaverse sectors.
They are followed by the amount of funding received:
- ZetaChain - $27 million. The platform has raised funds from Blockchain.com, Sky9 Capital, Jane Street Capital, VistaLabs, Human Capital, Vy Capital, CMT Digital and others. ZetaChain states that over 27,000 dApp contracts have been deployed on the platform from a wide range of third-party applications. According to the protocol, more than 13 million transactions were completed by more than 1.7 million users on its test network.
- Jada Ai - $25 million. An artificial intelligence (AI) project using blockchain technology has received funding from the investment group LDA Capital. The startup aims to provide AI services that help organizations make decisions and expand their operations. The capital will be used to grow the project development team and add new organizations.
- Socket - $20 million A startup that provides a scanning tool for identifying security vulnerabilities in open source code has announced that it is raising investment. The Series A funding round was led by the a16z fund. Abstract Ventures, Wndrco, Unusual Ventures and several private investors also took part in the round. The new capital will be used to expand the team and support more programming languages and integrations.
A number of projects reported during August that they had raised funding, but did not disclose the amount of investment.
Among them: Conductive.ai, Terminal3, Inworld AI, Kinza, AltLayer, Sleepless AI, KiloEx, Digital Entertainment Asset, WISe.ART, Coin98 Finance, Wolf Game Wool, Rocket Pool, BubbleAI, Port3 Network, OtherDex, AegisWeb3, Friend. tech, UXUY, Moonbox, Delphinus Lab, Relayz Network, Pendle, LuminaDEX, Irreverent Labs, Cryptoworth, BitOasis, Bedu, ProsperEx, Lyvely.
In addition, multimillion-dollar investments have attracted projects developing solutions based on artificial intelligence.
Dynamics
The projects attracted the largest amount of investment in the amount of $182.5 million in the third week of the month - from August 14 to 20.
The last week of August was marked by total funding of $119.4 million. Among the projects that received investments: the aforementioned STELSI, Web3 startup DeForm ($4.6 million), focused on the deployment of platforms for NFT trading FirstMate ($3.75 million), a liquidity protocol bitcoin staking Stroom Network ($3.5 million), Web3 project IronMill ($2.6 million), Tako Protocol team ($2 million), BuidlerDAO , projects GPU.Net and CoralFinance ($500,000 each).
Projects such as BEDU, ProsperEx and Lyvely also attracted investments, but did not disclose the amount.
Investors and segments
The most active investor in August was Binance Labs. The venture fund paid the most attention to DeFi projects. However, most of the startups that Binance Labs joined in financing did not disclose the amount of investment.
Investors' focus in August was on Web3 projects and the decentralized finance sector:
Note that in August 2023 there is a decrease in investment compared to the previous month. Then, according to CryptoRank , crypto projects received funding for more than $700 million. Let us recall that in July Polychain Capital raised $200 million for the fourth venture fund.
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Sources: incrypted.com
