Crypto Startups and Projects Raise $141.3 Million in First 12 Days of August
Despite the ongoing downturn in the crypto markets, venture capital investment continues to flow into the sector. In the first 12 days of August, a total of $141.3 million was raised across 20 different startups and projects. Leading the pack was decentralized lending developer Morpho, which raised $50 million in a funding round led by Ribbit Capital. Other participants in the round included Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital.
According to data from crypto-fundraising.info, U.S.-based internet service provider Andrena secured $18 million in an extended Series A round for its decentralized broadband protocol, DAWN (Decentralized Autonomous Wireless Network). Dragonfly Capital led the round, with additional backing from Parfi, Castle Island Ventures, 6th Man Ventures, Wintermute Ventures, and CMT Digital.
Among other notable fundraises, decentralized finance (defi) project Vessel raised $10 million for its ZK-powered order book trading platform. Web3 startup Cartridge raised $7.5 million, while Pentagon Games, a Web3 AI game publisher utilizing ZK-EVM technology, secured $6 million. Web3 AI network Deagentai matched this amount. Web3 game development company Curio raised $5.7 million.
Other projects that secured funding include decentralized edge data intelligence startup 375ai with $5 million, superapp platform layer Tonx with $4 million, Tokenized Liquid Note (ZTLN) creators Zoth with $4 million, layer two (L2) gaming ecosystem startup Moonveil Entertainment with $3.6 million, and artificial intelligence (AI) project Payman AI with $3 million.
The remaining eight projects 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 challenging market conditions, these investments highlight the strong confidence that investors have in blockchain and Web3 innovations. The diverse range of projects attracting significant funding demonstrates the continued interest in these emerging technologies.
What are your thoughts on the fundraising activities in the first 12 days of August? Share your opinions in the comments section below.
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