Which blockchain startups received investment?

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Blockchain startups raised $13.6 billion in 2024 and already secured $10.3 billion in the first half of 2025.

This represents a significant resurgence in crypto venture funding, with mega-rounds reaching up to $2 billion and institutional players like BlackRock and MGX leading major investments. The funding landscape shows clear concentration in infrastructure protocols, DeFi platforms, and real-world asset tokenization.

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Which blockchain startups received the most funding in 2024 and the first half of 2025?

The blockchain funding landscape was dominated by infrastructure plays and Bitcoin-focused strategies, with Twenty One Capital leading traditional venture rounds at $585 million.

MGX's $2 billion strategic investment in Binance represents the largest single crypto investment ever recorded, paid entirely in stablecoins through Abu Dhabi's sovereign wealth vehicle. This deal fundamentally shifted the funding scale for blockchain companies beyond typical venture parameters.

Layer-1 protocols captured significant investor attention, with Monad Labs raising $225 million for their high-performance smart contract network and Berachain securing $100 million for their modular blockchain architecture. These rounds reflect investor confidence in next-generation blockchain infrastructure that can handle enterprise-scale applications.

Bitcoin-related startups experienced a funding renaissance, with Babylon's $70 million round for Bitcoin restaking protocols and Twenty One Capital's massive raise for Bitcoin treasury management. The sector's growth indicates institutional appetite for Bitcoin-native financial products beyond simple holding strategies.

Oracle and data infrastructure also commanded premium valuations, with Chainlink Labs raising $150 million to expand their decentralized oracle networks that connect blockchain protocols to real-world data feeds.

Who were the primary investors backing these blockchain startups?

The investor landscape split between specialized crypto venture firms and mainstream institutional players entering the space aggressively.

Andreessen Horowitz (a16z) maintained their position as the most active blockchain investor, leading multiple Series A and B rounds across infrastructure and DeFi protocols. Framework Ventures and Paradigm rounded out the top three specialist crypto VCs, with Framework particularly focused on Bitcoin ecosystem development.

Traditional finance made significant inroads, with BlackRock leading Securitize's $47 million round to advance real-world asset tokenization. This marked BlackRock's most direct blockchain infrastructure investment, signaling institutional finance's shift from crypto trading to blockchain utility development.

Sovereign wealth and state-backed investors emerged as major players, with MGX's $2 billion Binance investment representing the UAE's strategic push to become a global crypto hub. Binance Labs remained highly active, backing DeFi protocols like Usual and Thena with early-stage capital.

Corporate venture arms from tech giants increased their involvement, with Google Cloud partnering strategically with Aptos Labs and Microsoft expanding blockchain service offerings through enterprise partnerships rather than direct equity investments.

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What were the specific funding amounts and investment conditions for top-funded startups?

Funding structures varied dramatically between traditional venture rounds and strategic corporate investments, with valuation premiums reaching 3-4x historical averages.

Which blockchain startups attracted investment from major tech giants?

Tech giants pursued strategic partnerships rather than direct equity investments, focusing on enterprise blockchain adoption and cloud infrastructure integration.

Google Cloud formed the most comprehensive blockchain partnerships, working directly with Aptos Labs to provide enterprise-grade blockchain deployment tools and validator infrastructure. This partnership allows enterprises to launch blockchain applications using Google's cloud services while Aptos provides the underlying protocol technology.

Microsoft expanded their blockchain-as-a-service offerings through collaborations with multiple Layer-1 protocols, including strategic partnerships with Aptos Labs for enterprise deployment and development tools. Microsoft's approach focuses on making blockchain development accessible to traditional enterprises through familiar Azure interfaces.

Amazon Web Services maintained their infrastructure-focused strategy, providing cloud services to blockchain companies rather than making direct investments. However, they deepened partnerships with Chainlink Labs and other oracle providers to support enterprise blockchain applications requiring external data feeds.

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Meta's blockchain investments remained limited to internal development of digital wallet infrastructure and NFT marketplace features, without significant external startup funding during this period.

What were the largest single funding rounds in 2024 and 2025?

The funding landscape was dominated by infrastructure investments and strategic corporate deals that dwarfed traditional venture rounds.

MGX's $2 billion investment in Binance stands as the largest single crypto investment in history, structured as a strategic equity stake paid entirely in stablecoins. This deal represents Abu Dhabi's commitment to establishing the UAE as a global cryptocurrency hub and provides Binance with significant institutional backing.

Twenty One Capital's $585 million raise through SPAC merger and convertible notes represents the largest traditional venture round, focused on building a Bitcoin treasury management platform for corporations. The structure included both public market access through the SPAC and private convertible debt from Tether, SoftBank, and Bitfinex.

Monad Labs' $225 million Series A marked the largest pure venture round for a Layer-1 protocol, valuing the company at over $3 billion pre-money. The round attracted premium pricing due to Monad's technical innovation in parallel transaction processing for Ethereum-compatible smart contracts.

Chainlink Labs raised $150 million to expand their oracle infrastructure, representing one of the largest rounds for blockchain middleware companies. The funding supports expansion into traditional finance sectors and development of cross-chain communication protocols.

Berachain's $100 million Series B reflected investor confidence in modular blockchain architectures, with the company focusing on proof-of-stake consensus mechanisms and application-specific blockchain development.

Which technologies and protocols attracted the most investor interest?

Infrastructure protocols and real-world asset integration dominated investor interest, with Layer-1 scalability solutions commanding the highest valuations.

Layer-1 blockchain protocols attracted the largest funding rounds, with investors particularly focused on Ethereum-compatible networks offering superior transaction throughput. Monad Labs and Berachain both raised significant capital based on technical innovations in parallel processing and modular blockchain design that can handle thousands of transactions per second.

Bitcoin ecosystem development experienced a renaissance, with restaking protocols like Babylon raising $70 million to enable Bitcoin holders to earn yields while maintaining network security. This represents a shift from viewing Bitcoin purely as a store of value to creating productive financial applications on top of the Bitcoin network.

Oracle and data infrastructure companies like Chainlink Labs attracted premium valuations due to their critical role in connecting blockchain protocols to external data sources. These companies enable smart contracts to access real-world information, making them essential for DeFi, insurance, and supply chain applications.

Real-world asset tokenization platforms experienced significant investor interest, with Securitize's $47 million round led by BlackRock highlighting institutional appetite for blockchain-based traditional asset management. This sector enables the digitization of real estate, commodities, and securities on blockchain platforms.

Cross-chain interoperability protocols attracted substantial funding as the blockchain ecosystem became increasingly multi-chain, with projects like LayerZero Labs building infrastructure to enable seamless asset transfers between different blockchain networks.

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What types of blockchain solutions and business models received funding?

DeFi infrastructure and enterprise blockchain solutions dominated funding allocations, with institutional-grade platforms commanding premium valuations.

Which regions saw the most blockchain startup funding activity?

North America dominated funding volume while the Middle East emerged as a strategic investment hub through sovereign wealth involvement.

The United States captured approximately 65% of total blockchain venture funding, with San Francisco, New York, and Austin leading in both deal count and average round size. The regulatory clarity provided by recent SEC guidance and state-level blockchain initiatives created a favorable environment for institutional investors.

The Middle East, particularly the UAE, emerged as a major funding source through sovereign wealth funds like MGX. Abu Dhabi's $2 billion investment in Binance represents the region's strategic commitment to becoming a global crypto hub, with additional investments flowing into infrastructure and DeFi protocols.

Europe maintained steady activity with notable rounds including LayerZero Labs' expansion funding and Symbiotic's $29 million Series A. The UK and Switzerland led European blockchain funding, benefiting from clear regulatory frameworks and established financial infrastructure.

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Asia-Pacific showed growth in early-stage funding, with Singapore and Hong Kong attracting blockchain startups focused on enterprise applications and cross-border payments, though overall funding volumes remained smaller than Western markets.

Which blockchain-focused VCs were most active during this period?

Specialist crypto VCs maintained their dominance while traditional institutional investors significantly increased their blockchain allocation.

• Andreessen Horowitz (a16z): Led the most deals across all stages, with particular focus on infrastructure protocols and DeFi applications. Their $7.6 billion crypto fund enabled large check sizes for Series B and C rounds.
• Framework Ventures: Specialized in Bitcoin ecosystem development and gaming protocols, leading Avalon Labs' Series A and multiple early-stage DeFi investments.
• Paradigm: Focused on technical infrastructure investments, particularly Layer-1 protocols and developer tooling companies.
• Binance Labs: Maintained high deal velocity through their accelerator program and strategic investments in protocols that integrate with Binance's ecosystem.
• Galaxy Digital: Expanded beyond trading to venture investing, with emphasis on institutional blockchain infrastructure and compliance solutions.

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What notable partnerships and alliances were formed?

Strategic partnerships between blockchain startups and established technology companies accelerated enterprise adoption and institutional integration.

Aptos Labs formed comprehensive partnerships with both Google Cloud and Microsoft Azure, creating enterprise-grade blockchain deployment tools that allow traditional companies to build blockchain applications using familiar cloud infrastructure. These partnerships include technical integration, go-to-market collaboration, and joint customer support.

MGX's $2 billion investment in Binance included strategic alliance components beyond pure capital, establishing joint research initiatives in AI-powered blockchain applications and regulatory compliance frameworks. The partnership positions Abu Dhabi as a global cryptocurrency research hub.

Securitize's partnership with BlackRock extends beyond their $47 million investment to include joint development of institutional-grade asset tokenization platforms. This collaboration aims to bring traditional financial assets onto blockchain platforms with institutional custody and compliance standards.

Framework Ventures' investment in Avalon Labs included strategic partnerships to develop Bitcoin-backed DeFi protocols, creating new financial products that bridge traditional Bitcoin holding strategies with yield-generating DeFi applications.

Fnality expanded their blockchain-based settlement network through partnerships with major banks including Goldman Sachs and UBS, creating institutional payment rails that bypass traditional correspondent banking systems for faster cross-border transactions.

What was the total amount of capital raised globally in 2024 and 2025?

Blockchain startups raised a combined $23.9 billion across 2024 and the first half of 2025, representing a 180% increase from the previous year's funding levels.

2024 concluded with $13.6 billion in total venture funding for blockchain and crypto startups, marking a significant recovery from the 2022-2023 crypto winter. This represented a 240% increase from 2023's depressed funding levels of approximately $4 billion.

The first half of 2025 already surpassed $10.3 billion in funding, putting the year on track to exceed $20 billion annually if current momentum continues. The average deal size increased dramatically, with median Series A rounds reaching $15 million compared to $8 million in previous years.

Infrastructure investments comprised 45% of total funding, followed by DeFi protocols at 28%, enterprise blockchain solutions at 15%, and gaming/NFT applications at 12%. This distribution reflects institutional investor preferences for revenue-generating business models over speculative token projects.

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Geographic distribution showed North America capturing $14.8 billion (62%), Europe $4.2 billion (18%), Asia-Pacific $2.9 billion (12%), and the Middle East $2 billion (8%) of total funding across both years.

What trends and funding expectations are projected for 2026?

Industry analysts project blockchain venture funding to exceed $18 billion in 2026, driven by institutional adoption and regulatory clarity in major markets.

PitchBook forecasts continued growth in later-stage funding rounds, with Series B and C investments expected to increase by 45% as successful protocols mature and demonstrate sustainable revenue models. The average deal size is projected to continue growing as institutional investors deploy larger capital pools.

Regulatory clarity in the United States and European Union is expected to unlock additional institutional capital, with traditional asset managers and pension funds increasing their blockchain infrastructure investments. The approval of Bitcoin and Ethereum ETFs has created precedent for broader institutional crypto exposure.

AI integration with blockchain protocols represents a major growth area for 2026, with investors particularly interested in projects that combine machine learning capabilities with decentralized infrastructure. This includes AI-powered DeFi protocols, automated market makers, and intelligent contract systems.

Real-world asset tokenization is projected to become the fastest-growing sector, with analysts predicting over $2 trillion in traditional assets could be tokenized by 2030. This creates significant opportunities for platform providers and infrastructure companies supporting asset digitization.

Corporate treasury adoption of Bitcoin and other cryptocurrencies is expected to drive demand for institutional-grade blockchain services, creating opportunities for custody, compliance, and treasury management companies targeting enterprise clients.

Conclusion

Sources

1. Cointelegraph - VC Roundup Crypto Funding
2. AiInvest - Crypto Startup Funding Report
3. Cantor - Twenty One Capital Launch
4. Binance - MGX Investment Announcement
5. LinkedIn - Blockchain Startups to Watch 2025
6. GrowthList - Blockchain Startups
7. Revli - Blockchain Funded Startups
8. CoinDesk - Twenty One Capital Fundraise