{"id":446603,"date":"2024-10-03T23:45:26","date_gmt":"2024-10-03T22:45:26","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=446603"},"modified":"2024-10-03T23:42:04","modified_gmt":"2024-10-03T22:42:04","slug":"crypto-startups-secure-691-million-in-venture-capital-during-september","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-startups-secure-691-million-in-venture-capital-during-september\/","title":{"rendered":"Crypto startups secure $691 million in venture capital during September"},"content":{"rendered":"<p>Venture capital (VC) funds invested over $659 million in crypto startups last month, representing a 3% increase compared to August, according to DefiLlama <a href=\"https:\/\/defillama.com\/raises\">data<\/a>.<\/p>\n<p>The blockchain gaming sector grew for the second consecutive month, with VC funds pouring $63 million into blockchain titles, marking a 32% monthly growth.<\/p>\n<p>Nearly half of the money raised by blockchain gaming startups was directed at Balance Games. The project received $30 million from companies such as Animoca, a16z, Aptos Labs, and DWF Labs to combine blockchain and artificial intelligence to create more enjoyable user experiences.<\/p>\n<h2>Infrastructure<\/h2>\n<p>Projects building blockchain infrastructure received $457 million in September, dominating 71.5% of the funds received by the whole crypto ecosystem in the period. This is virtually the same amount captured by the sector in August.<\/p>\n<p>Celestia (TIA) raised $100 million through a &#8220;strategic&#8221; funding round, the largest among infrastructure startups. The round was led by Bain Capital Crypto and included participation from 1kx, Robot Ventures, Syncracy Capital, and Placeholder.<\/p>\n<p>Additionally, Huma Finance raised $38 million to develop its blockchain-based payment network in a round that included participation from Fenbushi Capital, HashKey Capital, and ParaFi Capital.<\/p>\n<h2>DeFi funding declines<\/h2>\n<p>Despite the stability in blockchain infrastructure-related investments, DeFi ecosystem startups received $58 million last month, down 55% from August.<\/p>\n<p>Drift led the largest DeFi funding round, securing $25 million in a Series B round led by Multicoin Capital.\u00a0The second-largest investment round by DeFi startups was led by Puffpaw, a &#8220;vape-to-earn&#8221; application developed on Berachain.<\/p>\n<p>Web3 adoption received a boost last month, with $59 million directed toward startups building blockchain-based versions of traditional services.<\/p>\n<p>Tune.fm, a decentralized music streaming platform similar to Spotify, raised $50 million during the month from Global Emerging Markets Group.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Venture capital (VC) funds invested over $659 million in crypto startups last month, representing a 3% increase compared to August, according to DefiLlama data. The blockchain gaming sector grew for the second consecutive month, with VC funds pouring $63 million into blockchain titles, marking a 32% monthly growth. Nearly half of the money raised by [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":409154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,46940,76844,35372],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto startups secure $691 million in venture capital during September<\/title>\n<meta name=\"description\" content=\"Investments in blockchain gaming grow by the second consecutive month, with $68 million directed at this sector&#039;s startups.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-startups-secure-691-million-in-venture-capital-during-september\/\" 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