Crypto Firms Raised $129M Last Week, Led by Flashbots

The startup, focused on maximal extractable value (MEV) in blockchain transactions, raised $60 million in funding.

AccessTimeIconJul 31, 2023 at 12:49 p.m. UTC

Crypto projects announced $129 million in funding last week from venture capital and other investors, down from the $201.4 million in the prior week.

The largest fundraisers were the $60 million round for Flashbots, a company focused on the maximal extractable value (MEV) of blockchain transactions, and the $30 million raise for payments application Hi.

Infrastructure projects again dominated the week with six projects, while Web3 was the only other category represented. The week was also dominated by early-stage deals in the seed or pre-Series A stages, a common theme during the extended crypto winter. Later stage rounds involve more risk and due diligence, and the size of those rounds has gotten smaller amid the bear market.

The data in the table below only includes funding rounds where an amount was specified, which excluded a fundraise by Web3 infrastructure project Dmail The information was current as of 5pm ET on Friday, July 28. Any deal announced after that time will go into next week’s roundup.

Crypto fundraises for the week of July 24 (Brandy Betz / CoinDesk)
Crypto fundraises for the week of July 24 (Brandy Betz / CoinDesk)

Edited by Parikshit Mishra.


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Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.

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