Which projects captured VCs' attention this summer?
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Which projects captured VCs' attention this summer?
Which cryptocurrencies and Web3 projects have recently received funding from venture capital firms?
Navigating Web3 tides with focused insightsWritten by: Vlad Ilnitskiy
Compiled by: TechFlow
Summer is coming to an end, and during this period we’ve compiled new data on cryptocurrency and Web3 projects that received funding from venture capital firms—let’s take a look.
Over the past few months, we analyzed funding data for 7,400 crypto/Web3 projects from databases at PitchBook and Crunchbase. Below are some interesting facts and insights derived from this data. Here are the top crypto projects ranked by total funding amount:
Now let’s examine recently funded cryptocurrency projects:
First and foremost is Unizen (ZCX), an intelligent exchange platform that solves problems by combining centralized (CEX) and decentralized (DEX) architectures—commonly referred to in the crypto community as "CeDeFi". This hybrid platform is one of the emerging CeDeFi projects with the potential to reshape narratives for crypto traders and investors.
On June 27, Unizen raised $200 million to accelerate its trading aggregation ecosystem and expand its team, led by investment management giant Global Emerging Markets (GEM).
Following this major announcement, the number of members in their Telegram community increased by nearly 50% (from 109,000 to 157,000):
Additionally, such news didn't escape Twitter's attention—after being silent for at least half a year, it was mentioned again.
Geeq (GEEQ), a multi-chain platform secured by what the team calls a Proof-of-Honesty (PoH) protocol, claims this mechanism is “secure enough for the most valuable data, cheap enough for IoT, and suitable for any use case.”
We place GEEQ second because of its connection with ZCX: in 2021, Geeq was selected to join the Unizen ZenX incubator. This accelerator program, supported by Unizen, aims to provide blockchain projects with the investment, expertise, and collaboration opportunities needed for broad adoption.
On August 8, Geeq received a $25 million capital commitment from Global Emerging Markets, with GEM pledging to release funds progressively as Geeq achieves performance milestones.
Gnosis (GNO), an open-source, decentralized prediction market platform. Gnosis offers three interoperable product lines (Apollo, DutchX, Gnosis Safe) enabling users to securely create, trade, and hold digital assets on Ethereum.
On July 12, Gnosis’ most well-known product, Gnosis Safe (now simply called Safe), raised $100 million in a venture round led by 1kx, with participation from Tiger Global, Kraken Ventures, Digital Currency Group, and Coinbase Ventures. The new funds will support the non-profit Safe Ecosystem Foundation and accelerate further development of Safe. Since raising $12.5 million in an ICO back in April 2017, Gnosis as a whole has now raised a total of $112.5 million.
Qiibee (QBX), a Switzerland-based blockchain B2B rewards marketplace, providing businesses and consumers with a cryptocurrency and loyalty platform.
Qiibee is the smallest and final project among recent investments, having raised $4.8 million in a seed round completed on July 5. The round was led by Z5 Capital, with participation from Meet The People, Barclays Ventures, R/GA Ventures, and others.
This funding round supports the project’s global expansion, including plans to enter other priority markets such as North America.
How about VCs themselves? Below are the top venture capital firms making significant investments in cryptocurrency projects (a16z, Sequoia, and Tiger Global remain industry leaders):
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