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Pat_Kras
@solofunk
Crypto Fundraising is Up Only. Deal volume increased 3.8% to $1.36 billion in April 2024, continuing an eight-month uptrend since lows of $372 million in August 2023. Networks dominated, with three of the top five deals being Layer-1s 🧵
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@solofunk
Crypto Fundraising (April 2024) Total amount ⬆️ 3.8% to $1.36B Deal count ⬇️ 16.7% to 259 Despite a drop in deals, fundraising still increased, marking large deals across the month. Networks stole the show, accounting for 37.7% of fundraising volume.
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@solofunk
Early-Stage Deals (April 2024) Volume ⬇️ 18.2% to $578M Count ⬆️ 6.1% to 105 Pre-seed through Series A deals accounted for 42.4% of fundraising volume.
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@solofunk
Movement Labs raised $38 million in a Series A led by Polychain Capital Movement aims to enable modular Ethereum L2s that are parallelized and compatible with both the EVM and MoveVM. The Move Stack hopes to support an Optimism Superchain-esque ecosystem of parallelized L2s.
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@solofunk
Agora raised $12 million when selling equity in a seed round led by Dragonfly. Agora plans to launch AUSD, a stablecoin that will follow the collateral model used by USDT and USDC. Notably, Agora has ties to VanEck, who plans to manage collateral reserves.
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@solofunk
Thruster raised $7.5 million at a $70 million valuation in a seed round led by Pantera Capital. Thanks to Pacman's incentivization schemes for Blast and Thruster's Credit system, Thruster has thrusted to become Blast's top DEX and benefited from the explosive growth.
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@solofunk
Networks Sector (April 2024) Volume ⬆️ 57.6% to $515M Count ⬇️ 35.1% to 24 Seven of April's top ten deals were networks, highlighted by Monad and L1s like IoTeX and Burnt (XION) L2s were also prevalent with Movement and multiple Bitcoin L2s.
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Pat_Kras
@solofunk
Monad raised $225 million in a monster funding round led by Paradigm. Monad is an upcoming L1 that features optimistic parallel execution while maintaining EVM compatibility. As evidenced by the number below, this is one of the most hyped launches of 2024!
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