Crypto VC funding: $161m floods startups as costs sway

Enterprise capital urge for food for crypto startups is displaying indicators of resilience regardless of broader market turbulence. This week, at the very least 15 companies throughout totally different slices of the ecosystem secured recent funding.

In line with Crypto Fundraising knowledge, the final week of Could ended with $161.1 million in crypto funding exercise. Twenty One, a brand new Bitcoin treasury firm, raised an enormous $100 million; Conduit Pay landed $36 million to increase its crypto-native banking companies; and Donut, a newcomer centered on wielding synthetic intelligence, secured $7 million in a pre-seed spherical.

The flurry of offers highlights investor conviction in crypto’s long-term potential, at the same time as asset costs wobble. The funding rounds ranged from pre-seed to Sequence A levels. Right here’s a whole breakdown of this week’s crypto funding developments.

Twenty One, $100 million

• Raised $100 million in an Unknown spherical
• Twenty One is concentrated on enhancing Bitcoin (BTC) adoption

Conduit Pay, $36 million

• Conduit Pay secured $36 million in a Sequence A spherical
• The funding was backed by Dragonfly, Ribbit Capital, and Sound Ventures