• Fri. Feb 23rd, 2024

Crypto Projects Raise $201.4M in Venture Funding Week of July 17, Led by Infrastructure

Crypto Projects Raise 1.4M in Venture Funding Week of July 17, Led by Infrastructure

Venture capital and investment firms poured $201.4 million into crypto projects, with eleven companies announcing funding rounds. The biggest rounds were a $54 million raise for Metaverse startup Futureverse and a $40 million Series A round for RISC Zero, a provider of zero-knowledge-proof tools for developers.

Infrastructure projects continued to show resilience against crypto winter this week, with six funding rounds falling into this category: RISC Zero, Cosmic Wire, Manta Network, Echooo Wallet, side protocol and over protocol. Both RISC Zero and the Manta Network focus on zero-knowledge technologies, an emerging cryptographic way of mathematically validating transactions while maintaining privacy.

One project’s token, RDNT from Binance Labs-backed DeFi lender Radiant Capital, rose 10% to 31 cents after the deal was announced.

In other venture capital news this week, Fortune reported that crypto-focused firm Polychain Capital raised $200 million in an initial close for its fourth venture capital fund. Polychain has not confirmed those details.

The data in the table only includes funding rounds where an amount is specified. Information was current as of Friday, July 21 at 5 p.m. ET. Any deal announced after that will go into the next week’s roundup.

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