VC Firms Invest Record $485M in Crypto Startups in February

According to a recent report, Venture capital firms invested a record $485 million in crypto startups in February 2024, according to DefiLlama data. This represents a 5.3% monthly increase and the highest investment amount in the last three months. Infrastructure projects received the bulk of funding, garnering $387 million.

The leading investment was $100 million from a16z to EigenLayer through a private funding round. Liquid stacking platform EtherFi also secured $27 million in a Series A led by Bullish and CoinFund. Payments startup Oobit conducted a successful $25 million Series A led by Tether and CMCC Global.

Decentralized finance (DeFi) startups attracted over $48 million from VCs last month. Superform Labs got $6.5 million in seed funding from Polychain Capital for a universal yield marketplace. Omega received $6 million from Borderless Capital and Blockchain.com to build a DeFi ecosystem on Bitcoin.

Web3 companies garnered almost $18 million, with Beoble’s $7 million raise leading investments. Gaming startups saw $33 million each, including $8 million for studios Helika and Pixelmon.

Also read: Humanity Protocol Secures Funding from 20+ Venture Capitals