According to the results of August 2023, 85 startups and projects attracted funding in the total amount of $469,79 million, the publication reports Encrypted.
He became the leader in terms of the amount of funding involved cryptocurrency service BitGo, which received $100 million. The firm did not disclose its investors, but said they were all based in the US and Asia. The company said its latest round of funding raised its valuation to $1,75 billion.
The project also attracted investments of $100 million STEALTH. It received funding from NGC Ventures, a fund specializing in investments 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 claims that more than 27 dApp contracts from a wide range of third-party applications have been deployed on the platform. According to the protocol, more than 000 million transactions were performed by more than 13 million users on its test network.
- Jada Ai — $25 million. A project in the field of artificial intelligence (AI) that uses blockchain has received funding from the investment group LDA Capital. The startup aims to provide AI services that help organizations make decisions and expand their activities. The capital will be used to grow the team of project developers and add new organizations.
- Socket — $20 million. A startup that provides a scanning tool for detecting security vulnerabilities in open source code has announced an 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.
During August, a number of projects reported on attracting 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, multi-million dollar investments attracted projects developing solutions based on artificial intelligence.
Dynamics
The projects attracted the largest amount of investments in the amount of $182,5 million in the third week of the month — in the period from August 14 to 20.
The last week of August was marked by a total funding of $119,4 million. Among the projects that received investments: the aforementioned STELSI, the Web3 startup DeForm ($4,6 million), focused on the deployment of platforms for NFT trading FirstMate ($3,75 million), the protocol liquid bitcoin staking Stroom Network ($3,5 million), IronMill Web3 project ($2,6 million), Tako Protocol team ($2 million), BuidlerDAO, GPU.Net and CoralFinance projects ($500 each).
Also, such projects as BEDU, ProsperEx and Lyvely 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 helped finance did not disclose the amount of investment.
Investors focused on Web3 projects and the decentralized finance sector in August:
It should be noted that in August 2023 there was a decrease in investments compared to the previous month. At that time, according to CryptoRank, crypto projects received funding of more than $700 million. We will remind you that in July, Polychain Capital attracted $200 million in the fourth venture fund.
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