In the first 12 days of Aug., $141.3 million has flowed into crypto, defi, and blockchain ventures, according to recent metrics. Morpho, a decentralized lending developer, accounted for roughly 35.38% of the total funds raised across 20 different projects.
$141.3 Million Floods Into 20 Crypto Startups and Projects
Even with the crypto markets experiencing a downturn, venture capital continues to pour in, amounting to $141.3 million so far across 20 different startups. Morpho led the pack, raising $50 million in a funding round spearheaded by Ribbit Capital, with Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital also participating.
Data from crypto-fundraising.info shows that Andrena, a U.S.-based internet service provider developing a decentralized broadband protocol known as DAWN (Decentralized Autonomous Wireless Network), secured $18 million in an extended Series A round led by Dragonfly Capital. Additional backing came from Parfi, Castle Island Ventures, 6th Man Ventures, Wintermute Ventures, and CMT Digital.
Among other notable fundraises, Vessel, a decentralized finance (defi) project building a ZK-powered order book trading platform, gathered $10 million. The Web3 startup Cartridge raised $7.5 million, while Pentagon Games, a Web3 AI game publisher utilizing ZK-EVM technology, secured $6 million. Deagentai, a Web3 AI network, matched this amount. Web3 remained a hot topic in Aug., with Curio, a Web3 game development company, raising $5.7 million.
375ai, a decentralized edge data intelligence startup, managed to gather $5 million, and Tonx, a superapp platform layer, brought in $4 million this month. The creators of Tokenized Liquid Note (ZTLN), Zoth, also secured $4 million. Meanwhile, Moonveil Entertainment, a layer two (L2) gaming ecosystem startup, raised $3.6 million, and the artificial intelligence (AI) 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). Despite the challenging market conditions, investors continue to show strong confidence in blockchain and Web3 innovations. The wide variety of projects attracting substantial funding underscores the ongoing interest in these emerging technologies.
