Crypto Funding Drops 45%: Renzo, Particle Network, Sonic Lead $65.95M Week

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Jun 23, 2024 — 1 min read

Last week, the crypto space raised a total of $65.95M across 11 rounds. This marks a -45.63% decrease in funds raised and a -45.00% decrease in rounds compared to the previous week.

Biggest Rounds

Renzo, DeFi with $17.00M raised from Figment Capital, Antalpha Ventures, Protagonist, L2 Iterative Ventures (L2IV), Maven 11 Capital, ConsenSys, Bankless, Galaxy, Brevan Howard Digital, SevenX Ventures, 280 Capital, Karatage. Renzo simplifies restaking on EigenLayer, introducing "ezETH," a highly collateralized token capturing rewards and maintaining liquidity.

Particle Network, Chain with $15.00M raised from HashKey Capital, LongHash Ventures, SNZ Holding, Flow Traders, UOB Venture, MH Ventures, Morningstar Ventures, The Spartan Group, SevenX Ventures, gumi Cryptos, Alibaba Group. Particle Network offers zkWaaS and the Intent Fusion Protocol, aiming to make Web3 more consumer-friendly.

Sonic, Chain with $12.00M raised from OKX Ventures, Mirana Ventures, Big Brain Holdings, Bitkraft Ventures, Sanctor Capital, Sky9 Capital, Galaxy Interactive. Sonic is a gaming chain on Solana, featuring HyperGrid for game developers, compatible with all EVM smart contracts.

Gudchain, GameFi with $5.00M raised from Morningstar Ventures, Mechanism Capital, SkyVision Capital, Manifold. Gudchain promotes blockchain in gaming, eliminating entry barriers and providing a solution for frictionless web3 game launches.

Bondex, Blockchain Service with $4.00M raised from iAngels Technologies, Animoca Brands, DEXT Force Ventures, Morningstar Ventures. Bondex is a Web 3.0 Talent Network where users earn tokenized rewards.

Most Interesting Categories

Chain, with $27.00M raised in 2 rounds. Against $41.70M raised in 3 rounds last week.

DeFi, with $24.10M raised in 4 rounds. Against $26.40M raised in 4 rounds last week.

Social, with $5.85M raised in 3 rounds. Against $24.30M raised in 6 rounds last week.

Most Active Investors

SevenX Ventures, participated in 2 rounds, making it the most active investor in this space. Their focus last week was on categories: DeFi, Chain.

Morningstar Ventures, with 2 rounds, their focus was on categories: Chain, GameFi.

OKX Ventures, who invested in 2 different rounds, focusing on categories: Chain, Social.

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