This report offers an overview of the fundraising deals within the global crypto market in September 2024. The goal is to generate valuable information that can be used to pinpoint distinct crypto and blockchain market trends and anticipate future developments. CoinCarp will stay abreast of the changes and developments in the crypto landscape and release a monthly report to keep its readers informed. If you have any feedback, we would be delighted to hear from you.
Crypto Fundraising Global Landscape
In September, the total number of crypto fundraising deals was 102, a decrease of -15.7 % from 121 in August 2024; the total financing in September was US$708.14M, a 16.04% decrease from the previous month. 12.75% of the crypto projects are in the Seed series stage. By geography, 11 projects founded in the United States of America received $71.90M, becoming the country with the largest number of crypto fundraising projects in the world. Among the $10M fundraising deal projects, mainly the United States of America, Korea (the Republic of), Singapore, Emirate of Dubai.
Crypto Fundraising Deal Count by Sector
In September, out of the 102 projects that were successfully financed, 29 of them were Web 3.0 projects, constituting 28.43% of the total projects. These projects raised a total of $300.29M, which is 28.43% of the total funds raised that month. This amount is US$20.88M higher than the funds raised in August 2024.
Out of the 102 Web 3.0 projects, the most relevant are those related to the Gaming category, with 5 being in the Gaming category and 4 in the Layer 2 category.
In addition to AI, Privacy, Data and Security, other categories of related Web 3.0 projects.
In September, 24 projects involving blockchain infrastructure received $136.90M in funding, representing 19.33% of all financing.
There were 24 DeFi-related projects, making up 23.53% of all financing projects in September. The total amount of DeFi-related projects raised was $151.35M, representing 21.37% of the total financing, this was a decrease -25.22% compared to August 2024.
In September, 8 CeFi projects were funded, comprising 7.84% of the total number of financing projects. Altogether, these projects raised $74.80M, which was 10.56% of the total financing in September, representing a 36.75% increase from August 2024.
Crypto Fundraising Deal Count by Transaction Type
The majority of raised funds for the crypto market come from Seed rounds, the total amount is $108.85M in September. The aggregate deal value of Seed for September is higher than the previous month by 71.79%. The biggest Seed round fundraising is $10.00M, when Yellow Network get funds in September 2024.
Number of Investments by Investors
In September, Animoca Brands had the most investments, with a total of 7 projects, including 5 Web3 and 2 Others projects.
Also, a16z crypto has invested in 6 projects, with 2 of those investments going towards Others projects, 3 towards Infrastructure projects, 2 towards Others projects and 1 towards Web3 projects. Other investment institutions\VC funds such as Web3 etc. also invested in more than one project in September.
Top 5 Crypto Fundraising Deals In September
- Celestia($100.00M) | Celestia is a unique layer 1 blockchain whose only job is to order transactions and verify that the published data is available — with participation from 1kx, Bain Capital Crypto, Bain Capital Crypto, Balaji Srinivasan, Binance Labs, Blockchain Capital, Delphi Digital, Eric Wall, Figment Capital, FTX Ventures, Galaxy Digital, Interchain Foundation, Jump Crypto, Jutta Steiner, KR1, Maven 11 Capital, Maven 11 Capital, NFX, OKX Ventures, P2P Capital, Placeholder, Placeholder, Polychain Capital, Protocol Labs, Robot Ventures, Signature Ventures, The Spartan Group, Syncracy Capital
- Infinex($65.30M) | Infinex is a decentralized perpetual futures exchange that makes it easier for traders to access decentralized perpetuals by removing friction points such as convoluted accounts controls and having to sign off on every transaction. — with participation from Anatoly Yakovenko, Breyer Capital, Solana Ventures, Stani Kulechov, Wintermute, Wormhole
- Tune.FM($50.00M) | Tune.FM is a web3 decentralized music streaming platform with an integrated music NFT marketplace, which enables artists to monetize their fanbase directly through streaming royalty micropayments and digital music collectibles with exclusive unlockable experiences, powered by the JAM token ($JAM) utilizing Hedera Hashgraph distributed ledger technology — with participation from GEM Global Emerging Markets, LDA Capital
- SDAX($50.00M) | Based in Singapore and regulated by the Monetary Authority of Singapore, SDAX is a globally connected, integrated digital financial services platform offering a comprehensive suite of investment opportunities for asset owners and investors to benefit from the worlds private markets — with participation from Muscat Precious Metals Refining Company, New Horizon Global, PSA International, The Straits Trading Company Limited
- TON (The Open Network)($30.00M) | TON is a fifth-generation proof-of-stake blockchain designed by Telegram and led by an open community of developers — with participation from Animoca Brands, Bitget, DWF Labs, Foresight Ventures, Mask Network, Mexc Ventures, Mirana Ventures, Pantera Capital, RTP Global, Runa Capital
* The data presented is based on information extracted from the CoinCarp Fundraising Database. Announced deals were used in the analysis. Some announced deals might not go on to complete, where deals have failed to complete and were indicated in the data as canceled or withdrawn, they were removed from our dataset. The deal count figures presented in this report refer to the number of deals announced, and whether or not a value has been disclosed for the deal.
