Last week saw venture capital and investment firms investing a substantial $201.4 million into crypto projects, with eleven companies announcing funding rounds. The largest rounds were a $54 million raise for metaverse startup Futureverse and a $40 million Series A round for RISC Zero, a provider of developer tools for zero-knowledge proofs.
Crypto Startups Garner $201.4M in Venture Funding, Infrastructure Leads the Way
Infrastructure projects demonstrated resilience against the crypto winter, with six of the funding rounds belonging to this category: RISC Zero, Cosmic Wire, Manta Network, Echooo Wallet, Side Protocol, and Over Protocol. Notably, RISC Zero and Manta Network are both focused on zero-knowledge technologies, a rising cryptographic method of mathematically validating transactions while maintaining privacy.
One project, RDNT from Binance Labs-backed DeFi lender Radiant Capital, saw its token jump over 10% to 31 cents following the deal announcement.
More venture capital news: A conclusion
In other venture capital news, Fortune reported that crypto-focused firm Polychain Capital had raised $200 million in an initial close for its fourth venture capital fund. However, Polychain has not confirmed these details.
The past week has seen significant venture funding flowing into the crypto sector, particularly into infrastructure projects. This trend indicates a strong interest and confidence in the long-term potential of the crypto market, despite the current challenging market conditions.
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