March Boom: Web3 and Blockchain Projects Raised Over $1 Billion in Investments
Date: 2024-04-03 Author: Oliver Abernathy Categories: BUSINESS
Huge Funding in the World of Web3 and Blockchain
March 2024 became a period of active investment in Web3 and blockchain projects, the total investments of which exceeded $1.04 billion. Incrypted analyzed and analyzed the enormous financial injections of this month.
Leaders of Raised Funds
Notable among the projects that have attracted the most attention from investors is the French startup Zama, which received $73 million. The funding round was led by Multicoin Capital and Protocol Labs with the participation of Solana co-founder Anatoly Yakovenko and Metaplanet. New investments will be aimed at developing technology aimed at increasing data privacy in blockchain and artificial intelligence projects.
Following Zama are the following projects:
- Berachain ($69 million): L1 blockchain is valued at $1.5 billion, and the investment was led by Brevan Howard Digital and Framework Ventures.
- Figure Technologies ($60 million): The Series A round was led by Jump Crypto, Pantera Capital and Lightspeed Faction, with participation from Distributed Global, Ribbit Capital and CMT Digital. The funds will be used to launch the Figure Markets platform.
- Succinct ($55 million): A startup specializing in developing solutions using zero-knowledge proofs technology, raised investments as part of a seed round and a Series A round. The round was led by Paradigm.
Artificial Intelligence in Focus
March also stood out for its active investments in projects focused on artificial intelligence. The ones that attracted the most attention were:
- Cyera ($300 million): The $1.5 billion cybersecurity startup has raised funding from Coatue and Accel.
- Celestial AI ($175 million): The company developing the optical interconnect platform Photonic Fabric received investment from the US Innovation Fund and other investors.
- Zephyr AI ($111 million): The health technology company closed its Series A round, attracting investors such as Revolution Growth and Eli Lilly & Company.
Dynamics of Investments
Investments in Web3 and blockchain projects were especially active in the last week of March, when the 0G Labs and Parallel projects raised impressive funds. In total, 155 projects were recorded in March, attracting investments worth more than $1 billion.
March 2024 turned out to be very fruitful for Web3 and blockchain projects, as well as for the artificial intelligence sector. Investment in these areas continues to grow, reflecting the growing interest in digital technologies and their potential. Stay tuned to Incrypted for the latest investing trends in the digital space.
