November 19, 2024
Here’s your Weekly Wrap of all things crypto funding, ending November 16, 2024.
This week's crypto funding landscape was marked by substantial investments, showcasing the continued interest in various blockchain and Web3 sectors. The total disclosed funding for the week reached $390.54 million across 20 projects, with the AI category standing out as the most notable sector in terms of investment.
The AI sector saw the highest funding this week, raising an impressive $304 million. This is a significant indicator of the growing demand for decentralized and blockchain-integrated AI solutions. Projects like 0G Labs, which is developing a Decentralized AI Operating System, were at the forefront with $290 million in funding. The scale of this raise highlights the increasing investor confidence in AI’s potential to transform multiple industries through decentralized technology. Other AI projects that attracted significant funding included EIDON AI with $3.5 million and Ennoventure, which secured $8.5 million for its AI-driven brand protection solutions.
Below is a breakdown of the standout categories this week and their significant projects.
Category | Organization Name | Project Description | Money Raised this Round |
AI |
|
| 304,000,000 |
0G Labs | Decentralized AI Operating System | 290,000,000 | |
EIDON AI | Decentralized AI Data firm | 3,500,000 | |
Ennoventure | AI-powered brand protection and authentication solutions firm | 8,500,000 | |
Heurist | Decentralized AI-as-a-Service Cloud | 2,000,000 | |
Bitcoin |
|
| UNDISCLOSED |
Torram | Bitcoin native institutional-grade DeFi | UNDISCLOSED | |
Data |
|
| 3,450,000 |
Akave | L2 storage chain powering on-chain data lakes | 3,450,000 | |
DeFi |
|
| 37,000,000 |
Alluvial Finance | Institutional Staking Products Firm | 4,300,000 | |
Brevis Network | Smart ZK Coprocessor for Blockchains | 7,500,000 | |
Folks Finance | Algorand DeFi Protocol | 3,200,000 | |
StakeStone | Liquid ETH/BTC Adaptive Staking Network | 22,000,000 | |
Gaming |
|
| 6,000,000 |
BetHog | New cryptocurrency casino and sportsbook | 6,000,000 | |
Thetan World | Plug-and-play Gaming Infrastructure | UNDISCLOSED | |
Infrastructure |
|
| 7,500,000 |
Multiledgers | Blockchain Infrastructure Company | 1,000,000 | |
TAC | TON extension connects EVM community to Telegram’s 950M users | 6,500,000 | |
L2 |
|
| UNDISCLOSED |
Corn | Ethereum Layer 2 Network Built for BTCfi | UNDISCLOSED | |
Security |
|
| 17,900,000 |
Notabene | Crypto AML Compliance Firm | 14,500,000 | |
Tranched | Real-time on-chain securitisation platform | 3,400,000 | |
Trading |
|
| 1,690,000 |
Wyden | Institutional-Grade Crypto Trading Platform | 1,690,000 | |
Web3 |
|
| 13,000,000 |
mbd | Personalized algorithms for Web3 | 3,000,000 | |
Mocaverse | Interoperable infrastructure with Account, Identity, and Reputation systems | 10,000,000 | |
Grand Total |
|
| 390,540,000 |
AI
The AI category led this week's funding with a significant total of $304 million raised across four projects. This reflects the growing investment in advanced AI-driven blockchain solutions and decentralized ecosystems.
0G Labs: The project, a decentralized AI operating system, raised a major $290 million, highlighting its potential to revolutionize the integration of AI with blockchain networks and empower decentralized applications.
EIDON AI: Specializing in decentralized AI data services, EIDON AI secured $3.5 million to advance its mission of enhancing data utilization and analytics within the blockchain space.
Ennoventure: An AI-powered brand protection and authentication solutions firm, Ennoventure raised $8.5 million. This funding will facilitate the expansion of its platform, which leverages AI to fight counterfeit products and support brand integrity.
Heurist: This decentralized AI-as-a-service cloud platform raised $2 million to enhance its offerings and enable more accessible AI tools for developers and users across blockchain applications.
DeFi
The DeFi sector secured $37 million in funding across four projects, showcasing continued interest in innovative financial solutions that cater to a range of user needs and blockchain ecosystems.
Alluvial Finance: An institutional staking products firm, Alluvial Finance raised $4.3 million. The project aims to streamline staking services for institutional clients, bolstering the accessibility and reliability of DeFi investments.
Brevis Network: This smart ZK coprocessor for blockchains raised $7.5 million. It is designed to enhance blockchain scalability and privacy through zero-knowledge proofs, making decentralized finance more efficient.
Folks Finance: The Algorand-based DeFi protocol secured $3.2 million to support its platform, which offers efficient DeFi solutions in the Algorand ecosystem.
StakeStone: A liquid ETH/BTC adaptive staking network, StakeStone raised $22 million. The project focuses on optimizing staking yields, enabling cryptocurrency holders to maximize returns through flexible strategies.
Security
The Security category drew $17.9 million in funding, underscoring the importance of robust compliance and security solutions for the crypto ecosystem.
Notabene: This crypto AML compliance firm raised $14.5 million. Notabene aims to strengthen anti-money laundering processes, ensuring that crypto transactions meet regulatory standards and enhancing trust in blockchain operations.
Tranched: A real-time on-chain securitization platform, Tranched raised $3.4 million. The platform is designed to facilitate structured finance and enhance transparency within the crypto space through real-time data on blockchain-based securities.
These funding rounds highlight the expanding interest and investment in AI, DeFi, and security projects, with projects focused on scaling and enhancing blockchain capabilities attracting substantial attention.
Conclusion
This week's funding report underscores the dynamic growth and investor confidence in the blockchain and Web3 sectors. The AI sector emerged as the standout, with $304 million raised, reflecting strong demand for decentralized, AI-integrated solutions that promise to transform industries. The DeFi space also remained robust, securing $37 million and highlighting sustained interest in blockchain-based financial products and innovative protocols.
Additionally, the Security category demonstrated its importance, attracting $17.9 million in funding, emphasizing the need for enhanced compliance and real-time risk management in the crypto ecosystem. These three sectors collectively demonstrate the increasing diversification and potential for continued growth within the crypto and blockchain industry.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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