Startup Fundraising in August Witnesses an Increase of 15%: VC Funds Investing Heavily in DeFi and Blockchain Infrastructure Projects
VC Funding Totals $634 million
Venture capital (VC) funds invested a staggering $634 million in crypto startups in August, representing a 15% increase from July’s figure, according to DeFiLlama data. The data highlights the trend of VC funds pouring vast sums of money into startups with promising blockchain-based initiatives.
Blockchain Infrastructure Takes the Lead
The sector that received the majority of the funding last month was blockchain infrastructure. Notably, projects working on blockchain infrastructure secured close to $460 million in funding, accounting for approximately 72% of the total raised by crypto startups. This significant investment reaffirms the importance of laying solid groundwork for the ecosystem to flourish.
Groq Labs Secures Major Funding
a16z, Polychain Capital, and Cozomo de’ Medici, a digital artist, participated in the latest round of funding for Gipro, a blockchain research startup, which received significant funds. The funding supports Groq’s mission of becoming a leading player in blockchain development.
Roughly $58 million raised by Bridge
In a private round of funding, Bridge, an infrastructure platform for stablecoin issuance and transactions, drew investment worth roughly $58 million. The funding circle consists of prominent investors Sequoia Capital, Ribbit Capital, Index Ventures, and Haun Ventures, which further solidified its commitment to the vision and strategy of Bridge
DeFi Shows Notable Growth
In a significant increase in August, the DeFi sector garnered nearly $130 million for its projects. In July, the fund infusion stood at around 89 million. This drastic boost can be attributed partly to Morpho Labs which drew 50 million through several prominent investors.
Other Notable Players
Morpho is a decentralized cross-chain lending application compatible with Ethereum’s Virtual Machine (EVM). The application stands ready to revolutionize transactions using Ethereum’s EVM-based network. DuelNow, a decentralized sports gaming application, secured 1 I1 million in secondary investments. The funds for duel now will be further to drive growth within Arbortum’s ecosystem,
Gaming Sector Secures Over $43 Million in Funding
Particular Funding Rounds
This most significant blockchain-focused fundraising period, with game dev gameplay Galaxy, Trial Xtreme, and with major investments from Blockchain, Capitale Merits circles
DeFi and blockchain-based initiatives saw significant investment between the two months. For some reason, the month with most funding rounds; growth can be attributed party because Morpho Labs that’s received 50 and many prominent investors. We saw the growth through game app trial Xtreme.
Q What led to the increase of investment in DeFi, particularly in Morpho?
A it saw growth through Morpho. A decentralized cross – Chain lending application compatible the ethereal Virtual Machine,
Q Where did the majority funding take place?
A Blockchain infrastructure which captured around 72
the Q Did the gaming
A Yes its over 43 million in Aug month,
