TLDR:
- 23 startups in the blockchain space secured over $154 million in VC funding
- Conduit raised $37 million, MegaLabs and Ora both secured $20 million
In a week marked by significant venture capital activity in the blockchain space, 23 startups managed to secure over $154 million in funding, surpassing last week’s total by almost $91 million. VC firms also funded 10 more projects this week than the previous week. The top deals included:
Conduit: Conduit led the pack with a $37 million series A round, with Paradigm and Haun Ventures co-leading the effort. The funds will be used towards developing customizable blockchain-based products like rollups to make on-chain computing more accessible.
MegaLabs: MegaLabs, the creators of a new Ethereum scaling protocol, raised $20 million in a seed round led by Dragonfly Capital. The fresh capital will accelerate the development of its MegaETH protocol.
Ora: Ora focused on integrating AI into decentralized applications and also secured $20 million in funding. With plans to develop technology for tokenizing AI models and bringing decentralized AI to the Ethereum ecosystem, Ora introduced optimistic machine learning (opML) technology to create secure and efficient on-chain machine learning with privacy-preserving features.
In addition to these key deals, other startups like Crossover Markets, Redacted, AnchorZero, Covalent, and SoSoValue also saw significant funding rounds and are looking to further solidify their positions in the market with their innovative products and solutions.
