Blockchain Startups Secure $129 Million in Funding as Flashbots Raises $60 Million for Maximal Extractable Value (MEV) Focus
Last week, the blockchain industry witnessed a total of $129 million in funding being announced by various crypto projects. This marked a slight decline from the previous week’s funding amount, which had reached an impressive $201.4 million.
Among the notable fundraisers, Flashbots, a startup dedicated to maximizing extractable value (MEV) in blockchain transactions, raised a substantial $60 million in funding. Another noteworthy project that secured funding was Hi, a payments application, which successfully raised $30 million.
Throughout the week, infrastructure projects continued to dominate the funding landscape, with six projects in this category securing investments. On the other hand, Web3 projects were the only other category represented in the funding announcements.
It was evident that early-stage deals, particularly those in the seed or pre-Series A stages, were prevalent during the extended crypto winter. The market sentiment seemed to favor caution, as later-stage funding rounds involved higher risk and more rigorous due diligence. Consequently, the size of these later-stage rounds has become smaller amid the ongoing bear market conditions.
Notably, the data presented in the table excluded funding rounds where specific amounts were not specified. For instance, a fundraise by the Web3 infrastructure project, Dmail, was not included in the analysis.
As of 5 pm ET on Friday, July 28, the information provided in this report was up-to-date. Any funding deals announced after this time would be covered in the following week’s roundup.
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