TLDR:
- Crypto startups raised over $2 billion from VCs in Q1 2024
- Infrastructure sector dominated with $1.35 billion invested
Article Summary:
Crypto startups received $2.17 billion from venture capital funds in the first quarter of 2024, with $1 billion raised in March alone. Infrastructure investments took the lead, accounting for 62% of all fundraising in Q1. Zama, an open-source cryptography company, secured the largest funding round in March with $73 million. Decentralized finance projects also saw an increase in funding, with $107 million raised in March.
Figure Markets, a parent company of fintech Figure Technologies, received $60 million to deploy a decentralized exchange, marking the largest DeFi-related funding round in Q1. Web3 applications saw a decline in funding in March, while blockchain gaming sector received $83 million in total investments during the same month.
Overall, Q1 2024 saw substantial investments in the crypto startup space, demonstrating continued interest from venture capital firms across various sectors within the industry.
