VC Roundup: Funding falls to $2.4B in Q3 2024, early-stage startups dominate
Venture capital funding in blockchain startups reached $2.4 billion in Q3 2024, a 20% decline from Q2. Crypto startups closed 478 deals, a 17% decrease. Year-to-date investment totals $8 billion, with a conservative estimate of $5.4 billion reported by Crunchbase. Startups integrating AI and blockchain saw a fivefold funding increase, raising $188 million. Layer-1 blockchain projects attracted $341 million, while trading and infrastructure companies raised $265.4 million and $258 million, respectively. Web3 and gaming sectors experienced a 39% investment decline. Early-stage companies received 85% of the funding, with a median pre-money valuation of $23 million and an average deal size of $3.5 million. Notable funding rounds included Eidon AI ($3.5 million), Brevis ($7.5 million), Multiledgers ($1 million), and Alluvial ($4.3 million).
