In the initial twelve days of August, an impressive $141.3 million has been directed toward cryptocurrency, decentralized finance (DeFi), and blockchain projects, as reported by recent analytics. Notably, Morpho, a pioneer in decentralized lending solutions, represented approximately 35.38% of the total investments spread across 20 different initiatives.
### $141.3 Million Invested in 20 Crypto Startups and Projects
Despite a downturn in the cryptocurrency market, venture capital continues to surge, totaling $141.3 million thus far across a diverse range of 20 startups. Morpho took the lead by raising $50 million in a funding round orchestrated by Ribbit Capital, with participation from prominent investors such as Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital.
According to data from crypto-fundraising.info, Andrena, a U.S.-based internet service provider focused on developing a decentralized broadband protocol called DAWN (Decentralized Autonomous Wireless Network), successfully secured $18 million in an extended Series A round led by Dragonfly Capital. Additional support came from Parfi, Castle Island Ventures, 6th Man Ventures, Wintermute Ventures, and CMT Digital.
Other significant fundraising efforts included Vessel, a DeFi project creating a ZK-powered order book trading platform, which raised $10 million. The Web3 startup Cartridge brought in $7.5 million, while Pentagon Games, a Web3 AI game publisher leveraging ZK-EVM technology, secured $6 million. Similarly, Deagentai, a Web3 AI network, matched this amount. The interest in Web3 remained robust in August, with Curio, a Web3 game development firm, raising $5.7 million.
375ai, a decentralized edge data intelligence startup, garnered $5 million, and Tonx, a superapp platform layer, raised $4 million this month. The creators of Tokenized Liquid Note (ZTLN), Zoth, also successfully attracted $4 million. In addition, Moonveil Entertainment, a Layer 2 (L2) gaming ecosystem startup, secured $3.6 million, while the AI-driven project Payman AI rounded out the top 12 with a $3 million raise.
The remaining eight projects include Blockscout ($3 million), Khalani Network ($2.5 million), Pichi Finance ($2.5 million), Metadao ($2.2 million), Nexio ($2.2 million), Elmts ($2 million), Lync ($1.5 million), and Quantlytica ($1.1 million). In spite of the challenging market landscape, investor confidence in blockchain and Web3 innovations remains strong. The variety of projects receiving substantial funding highlights the continuing interest in these emerging technologies.
What are your thoughts on the fundraising activities that took place in the first twelve days of August? We invite you to share your insights and opinions in the comments section below.
Bitcoin.com News is on the lookout for a News Writer to generate daily content focused on cryptocurrency, blockchain, and the digital currency ecosystem. If you are interested in joining our innovative global team, please apply here.
