🌎 Crypto Startups Raise Over $141 Million Despite Fewer VC Deals

Venture capitalists are focusing more funds into fewer deals. According to the latest report from GlobalData, this trend is particularly evident in the U.S., where total VC funding raised by startups increased by 2.4% year-over-year from January to July. However, there was a notable 41% decline in VC deal volume.

Despite this, the U.S. continues to lead the global VC landscape, surpassing peers like China and Europe in both deal count and funding value. This is largely driven by a rise in deals exceeding $100 million.

In the crypto sector, venture rounds rarely reach such high levels. Notable exceptions this year include Berachain, which secured $100 million, and Farcaster, raising $150 million in a series A round.

Crypto startups still attract significant investor interest. Last week alone, over $141 million was raised between Aug. 25 and Aug. 31, according to Crypto Fundraising. Here are a few standout deals:

Bridge – $58 Million

Bridge, a global stablecoin payment network, has raised $58 million, including $40 million in fresh capital. Backers include Sequoia, Ribbit, and Index. The startup, co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, counts Coinbase and SpaceX among its customers.

Edge Matrix Chain – $20 Million

Edge Matrix Chain, specializing in multi-chain AI infrastructure, raised $20 million in a round led by Amber Group and Polygon Venture. Other investors include One Comma, Kapley Judge, Cyberrock Venture Fund, Candaq Fintech Group, and Hameem Raees Chowdhury. The funds will be used to develop a Layer 1 blockchain and introduce a new DeFi asset class backed by tokenized real-world GPU resources.

Space and Time (SxT) – $20 Million

Space and Time secured $20 million in a Series A round featuring Cypher Capital, Framework Ventures, Lightspeed Faction, Arrington Capital, and Hivemind Capital. The startup offers index data for Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC) ecosystems, raising $50 million in total. Other backers include Microsoft’s M12 Ventures, DCG, F-Prime Capital, OKX Ventures, Circle Ventures, and Alumni Ventures.

Solayer Labs – $12 Million

Solayer Labs raised $12 million in seed funding. Polychain Capital led the round, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Maelstrom. The startup is working on a Solana (SOL) restaking protocol.

Gameplay Galaxy – $11.17 Million

Gameplay Galaxy, a web3 video game studio, raised $11.17 million in a seed extension round. Blockchain Capital and Merit Circle co-led the round, with several anonymous investors also participating.

Myco – $10 Million

UAE-based Web3 streaming platform Myco completed the first closing of its Series A funding round, raising $10 million. Investors include Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter.

Double Jump Tokyo – $10 Million

SBI Investment led a $10-million Series D funding round for Japanese web3 game developer Double Jump Tokyo. Other participants include Sony Group, Taisu Ventures, Gate Ventures, TM Capital, and Bing Ventures.