Which Web3 companies raised funds?

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Web3 funding has reached unprecedented levels with $19.6 billion raised in 2024 alone across 3,516 deals, followed by $10.6 billion in the first half of 2025. The market shows clear bifurcation with abundant capital flowing to both early-stage pre-seed investments and late-stage strategic rounds, while Series A deals have notably thinned.

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Which Web3 companies raised the most significant funding rounds in 2024 and H1 2025?

Binance dominated the funding landscape with a massive $2 billion strategic round in Q1 2025, backed by UAE-based MGX Capital and Mubadala Investment Company.

The second-largest round belonged to Lion Group, which secured $600 million in debt financing from ATW Partners in June 2025, specifically for treasury strategy involving HYPE, SOL, and SUI digital assets. World Liberty Financial followed with a $590 million public token sale, marking one of the largest retail-accessible token offerings in recent history.

TON Foundation raised $400 million through a private token sale, while infrastructure plays dominated the remaining top rounds. Avalanche secured $250 million through its foundation treasury, and BitMine raised an identical amount for institutional-scale Bitcoin mining operations. Monad Labs, building a parallel-execution EVM Layer 1, attracted $225 million in pre-Series A funding from Paradigm and Coinbase Ventures.

Notable mid-tier rounds included Phantom's $150 million Series C for Solana wallet infrastructure, Farcaster's $150 million Series A for decentralized social protocols, and multiple $100 million rounds for Eigen Labs (zero-knowledge infrastructure) and Berachain (EVM-compatible blockchain).

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How much capital did each major Web3 startup raise and in which specific funding rounds?

The funding rounds reveal a clear bifurcation between strategic mega-rounds and traditional venture stages, with token sales making a significant comeback in 2025.

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Who are the dominant investors backing these Web3 companies and what are their investment strategies?

Paradigm has emerged as the leading infrastructure-focused investor, backing both Monad Labs' parallel EVM technology and Eigen Labs' zero-knowledge proof systems.

Andreessen Horowitz (a16z) maintains its diversified approach across wallet infrastructure (Phantom), zero-knowledge technology (Eigen Labs), and social protocols (Farcaster). Coinbase Ventures continues its strategic focus on developer tooling and infrastructure projects that benefit the broader Coinbase ecosystem.

Traditional finance is making significant inroads through sovereign wealth funds, with MGX Capital and Mubadala leading Binance's massive strategic round. Founders Fund has doubled down on Bitcoin infrastructure through BitMine, while Pantera Capital spreads its investments across mining infrastructure and token sales.

Geographic specialization is evident among investors: North American VCs focus heavily on infrastructure and developer tools, European investors prioritize regulatory-compliant tokenization projects, and Middle Eastern sovereign funds target exchange infrastructure and ecosystem development. Asian investors, particularly in Singapore and Hong Kong, concentrate on fintech-crypto hybrids and real-world asset tokenization.

The investment thesis across all major players centers on infrastructure maturation, with particular emphasis on projects that bridge traditional finance and decentralized systems.

What specific technologies and business models are these funded Web3 startups building?

Infrastructure scaling dominates the funded landscape, with companies like Monad Labs building parallel-execution EVMs to dramatically increase transaction throughput while maintaining Ethereum compatibility.

Zero-knowledge proof technology receives substantial backing through Eigen Labs, which provides scalability and privacy infrastructure for other blockchain projects. Layer 1 networks continue attracting capital, with Avalanche and TON Foundation focusing on high-speed, low-cost transaction processing for different use cases.

Real-world asset tokenization has become a major trend, exemplified by World Liberty Financial's on-chain debt instruments and Lion Group's digital asset treasury strategies. These companies are bridging traditional financial products with blockchain infrastructure to create new investment vehicles.

Decentralized social protocols are gaining traction through Farcaster, which enables user-owned social data and identity portability across platforms. Wallet infrastructure remains critical, with Phantom building comprehensive Solana ecosystem integration including dApp marketplace functionality.

Mining and DePIN (Decentralized Physical Infrastructure Networks) represent another major category, with BitMine and Hut 8 focusing on institutional-grade Bitcoin mining operations that provide both cryptocurrency generation and network security services.

Which companies attracted the highest total capital and what does this reveal about investor priorities?

Binance's $2 billion strategic round represents 19% of all H1 2025 funding, signaling massive institutional confidence in exchange infrastructure and ecosystem development.

What are the disclosed funding terms and conditions revealing about deal structures?

Token sales are incorporating increasingly sophisticated vesting and governance structures, with World Liberty Financial implementing a 12-month lockup followed by 4-year graded vesting plus revenue sharing clauses.

Debt financing has emerged as a significant funding mechanism, with Lion Group's $600 million deal featuring an 8% annual coupon and 5-year maturity secured against digital asset reserves. This structure allows companies to access capital without diluting equity while providing investors with predictable returns backed by crypto collateral.

Strategic rounds like Binance's include specific provisions for ecosystem development, with capital earmarked for grants, Layer 2 project expansion, and geographic market penetration. Anti-dilution provisions and co-sale rights are becoming standard in strategic equity deals, particularly for infrastructure projects like SharpLink.

Convertible notes are gaining popularity for token-based projects, with TON Foundation's $400 million raise structured as a convertible with 2× liquidation preference cap and 18-month conversion timeline. This provides flexibility for both investors and projects as token markets mature.

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Which geographic regions are emerging as Web3 funding powerhouses?

North America maintains dominance with approximately 50% of total capital deployment, led by infrastructure, wallet, and DeFi projects concentrated in the United States and Canada.

The Middle East has emerged as a major strategic hub, with the UAE leading through sovereign wealth fund investments in exchange infrastructure and ecosystem development. Saudi Arabia is following suit with significant allocations to blockchain infrastructure through the Public Investment Fund.

Europe captures roughly 20% of funding volume, with particular strength in regulatory-compliant tokenization projects and traditional finance bridge technologies. Switzerland, Germany, and the UK lead European activity, focusing on institutional-grade solutions that align with evolving regulatory frameworks.

Asia-Pacific represents 15% of funding, with Singapore and Hong Kong driving fintech-crypto hybrid development and real-world asset tokenization. These jurisdictions benefit from clear regulatory frameworks and strong traditional finance infrastructure that facilitates crypto integration.

Canada has emerged as an unexpected mining and infrastructure hub, with significant capital flowing to Bitcoin mining operations and blockchain infrastructure projects that benefit from favorable energy costs and regulatory clarity.

How are traditional tech, finance, and blockchain sectors participating in Web3 funding?

Tech giants are making selective but significant moves, with Meta investing in AI-blockchain convergence through Scale AI, while Tencent participates in European growth equity rounds like Scalable Capital's €155 million Series B.

Traditional finance is increasingly active through multiple channels: Goldman Sachs and UBS participate via institutional blockchain infrastructure like Fnality, while sovereign wealth funds deploy massive capital directly into exchange and ecosystem development. Major banks are preparing for 2026 crypto custody debuts, with Deutsche Bank leading institutional preparation efforts.

Blockchain-native investors continue to lead deal flow and set investment trends. Binance Labs, Consensys, Pantera, a16z, and Paradigm collectively represent over 40% of disclosed venture funding in the space, bringing deep technical expertise and ecosystem relationships that traditional investors lack.

Cross-sector collaboration is becoming standard, with traditional finance providing regulatory expertise and capital scale while blockchain-native investors contribute technical due diligence and ecosystem integration strategies. This hybrid approach has proven particularly effective for infrastructure and tokenization projects.

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What breakthrough technologies and R&D areas are attracting the most capital?

AI-blockchain convergence represents the fastest-growing funding category, with projects building on-chain AI agents, predictive analytics for DeFi, and automated smart contract security systems receiving substantial investor interest.

Zero-knowledge proof technology continues attracting significant infrastructure investment through companies like Eigen Labs, focusing on scalability solutions that maintain privacy and security guarantees. These systems enable private computation on public blockchains, unlocking enterprise adoption scenarios previously impossible.

Parallel execution architectures, exemplified by Monad Labs' EVM implementation, address the fundamental throughput limitations of current blockchain systems. These technologies promise to scale transaction processing to traditional database levels while maintaining decentralization and security properties.

Real-world asset tokenization infrastructure is receiving massive capital flows, with projects building comprehensive frameworks for on-chain representation of sovereign debt, real estate, and corporate treasury assets. This technology bridges traditional finance with DeFi, creating new investment and liquidity opportunities.

Decentralized Physical Infrastructure Networks (DePIN) are attracting both venture capital and token sales, enabling decentralized coordination of real-world infrastructure like computing power, storage, and connectivity through blockchain-based incentive systems.

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What are the total funding amounts for Web3 globally in 2024 and H1 2025?

2024 established a new funding record with $19.6 billion in disclosed venture funding across 3,516 individual deals, representing a significant rebound from 2023's crypto winter lows.

Including undisclosed rounds and private transactions, industry estimates place total 2024 Web3 funding at approximately $30 billion, indicating substantial private market activity beyond publicly reported deals. This suggests a healthy mixture of institutional strategic investments and traditional venture funding.

H1 2025 has already reached $10.6 billion in disclosed funding, with Q1 2025 contributing $7.7 billion across 603 deals and June 2025 adding $2.87 billion. This pace suggests 2025 could exceed 2024's record if current momentum continues through the second half.

Token sales specifically contributed $1.6 billion in Q1 2025, split evenly between public and private offerings. This represents a significant recovery in token-based funding mechanisms after several years of regulatory uncertainty and market volatility.

The funding velocity indicates strong institutional confidence in Web3 infrastructure maturation, with large strategic rounds driving average deal sizes higher while maintaining deal count growth across all funding stages.

What major trends and shifts are reshaping Web3 funding patterns?

Funding bifurcation has become the dominant market characteristic, with massive growth in both pre-seed investments and strategic mega-rounds while Series A deal count has declined by approximately 50%.

Token sales have made a dramatic comeback in 2025, reaching $1.6 billion in Q1 alone after years of regulatory uncertainty. This resurgence is driven by clearer regulatory frameworks in key jurisdictions and improved token economic models that provide real utility rather than pure speculation.

AI integration has become a requirement rather than a differentiator, with virtually every major infrastructure funding round incorporating AI-powered features for optimization, security, or user experience enhancement. This convergence is creating entirely new categories of blockchain-native AI applications.

Geographic diversification is accelerating beyond traditional Silicon Valley and European hubs, with substantial capital flowing to Middle Eastern sovereign wealth initiatives, Canadian mining operations, and Asian fintech-crypto hybrids. This distribution reduces systemic risk and increases global adoption potential.

Regulatory-driven divergence is creating distinct funding patterns, with Europe's MiCA framework enabling compliant tokenization projects while US enforcement actions continue to create regulatory uncertainty that affects funding availability and deal structure complexity.

What are expert forecasts for Web3 funding and investor appetite in 2026?

Industry analysts project continued strong growth in Web3 venture funding throughout 2026, supported by infrastructure maturation, enterprise adoption acceleration, and convergent AI application development.

Market research indicates the global Web3 and blockchain technology market will grow from $5.62 billion in 2024 to $109.21 billion by 2032, representing a compound annual growth rate of 44.9% from 2025-2032. This growth trajectory suggests sustained investor appetite and capital deployment opportunities.

Funding concentration is expected to persist in infrastructure layer projects, on-chain AI systems, DePIN networks, and real-world asset tokenization platforms. Strategic and late-stage rounds will likely continue dominating total capital deployment as infrastructure projects scale to enterprise adoption.

Geographic expansion will accelerate, with emerging hubs in the Middle East, Canada, Singapore, and Hong Kong capturing increasing market share from traditional Silicon Valley dominance. Sovereign wealth fund participation is projected to grow substantially as nation-states develop comprehensive blockchain strategies.

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Conclusion

Sources

1. Outlier Ventures - 2024 in Review: Fundraising in Web3
2. Incrypted - Web3 and blockchain projects raised a total of over $2.8 billion in June
3. Seedtable - Best Crypto Web3 Startups
4. DeFi Planet - VC Funding in Web3: Where the Money is Going Post-2024 Bear Cycle
5. Outlier Ventures - Web3 Fundraising in Q1 2025: What Founders & Investors Need to Know
6. Revli - Crypto Web3 Funded Startups
7. ChainCatcher - Web3 Funding Analysis
8. WaveUp - How Web3 Startups Can Raise Funding and Scale in 2025
9. DataM Intelligence - Web3 and Blockchain Technology Market Growth Forecast 2025-2032