Crypto Venture Capital Funding Takes a Breather: $35M Raised in 9 Deals, Uniswap DAO Shines

"Blockchain Funding Sees a Dip as $34.7 Million Raised in Nine Deals, Marking a Cooling Trend in November"

Blockchain projects in the week spanning the end of October and the start of November managed to raise a total of $34.7 million across nine different deals, according to data tracked by DeFi Llama. However, this figure represented a significant cooling compared to the previous week, where over $107 million was raised. The largest raise of the week came from the Uniswap DAO, which invested $12 million worth of UNI in the StarkNet-based market maker Ekubo Protocol. In return, the Uniswap DAO received a 20% share of governance tokens.

Other notable deals during the week included Modulus, a zero-knowledge AI data verifier, raising $6.3 million in a funding round led by Variant and 1kx. Additionally, zero-knowledge infrastructure provider Toposware secured $5 million in a seed+ round led by Evolution Equity Partners. The aim of Modulus is to address the security concerns associated with integrating AI into decentralized applications (dApps) by leveraging zero-knowledge proofs to verify that AI providers do not manipulate their algorithms.

Tom Couture, a digital asset strategy associate at FundStrat, highlighted the importance of Modulus’s approach, stating, “As AI continues integrating itself into society, Modulus hopes its cryptographic accountability tools will safeguard the computational future.”

AI projects accounted for nearly a quarter of the total raised during the week. In addition to Modulus, Vaas, an AI-powered analytics firm, managed to secure $2 million in pre-seed funding. This demonstrates the growing interest and investment in AI within the blockchain industry.

Furthermore, builders on the popular crypto exchange Coinbase’s Base network also received funding. Surf, a decentralized derivatives protocol, raised $3 million in seed funding to develop its permissionless perpetual decentralized exchange (Perp DEX) on the Ethereum layer 2.

Overall, while the total amount raised in the week was lower compared to the previous week, the investment in AI projects and the continued support for blockchain builders indicate a positive outlook for the industry.

Martin Reid

Martin Reid

Leave a Replay

Scroll to Top