What the numbers say: VCs invested $1.1B in crypto startups in the month of May, per Cointelegraph Research's VC database. Funding for the sector surged 34% from the preceding month. This is the first month since September 2022 when funding crossed the $1B mark. Relevance: Infrastructure startups nabbed 68% of the total funding, ending the month with $783.9M from 23 funding rounds. Although Web3 had the most rounds (24), it nabbed only $170.1M in funding. DeFi and CeFi startups raised $93.6M and $24.8M, respectively. Brands that should care: Notable funding rounds in the month include Worldcoin's $115M Series C round and blockchain privacy and security provider Auradine's $81M Series A round. What's next: With the Federal Reserve putting interest rate hikes on hold and the inflation showing signs of easing, VC funding in the sector is poised to increase in the latter half of the year. |
