Global Cryptocurrency Fundraising Report — May 2023

This report offers an overview of the fundraising deals within the global crypto market in May 2023. The goal is to generate valuable information that can be used to pinpoint distinct crypto and blockchain market trends and anticipate future developments. CoinCarp will stay abreast of the changes and developments in the crypto landscape and release a monthly report to keep its readers informed. If you have any feedback, we would be delighted to hear from you.

Crypto Fundraising Global Landscape

In May, the total number of crypto fundraising deals was , a decrease of -6.15% from the  in April 2023; the total financing in May was US$1.52B, a 13.52% increase from the previous month. 9.84% of the crypto projects are in the Series C series stage. From the perspective of fundraising scale, there were  projects of fundraising above $10M, which has increased 8.33%, compared to April 2023.  projects of fundraising above $100M, which has increased 0%, compared to April 2023. By geography, a total of  projects founded in the United States of America received $862.20M, becoming the country with the largest number of crypto fundraising projects in the world. Among the $10M fundraising deal projects, mainly the United States of America, China, Switzerland, and Austria.

Crypto Fundraising Deal Count by Sector

In May, out of the  projects that were successfully financed,  of them were Web 3.0 projects, constituting 30.33% of the total projects. These projects raised a total of US169.52M, which is 30.33% of the total funds raised that month. This amount is US$13.81M lower than the funds raised in April 2023.

Out of the  Web 3.0 projects, the most relevant are those related to the Gaming category, with  being in the Gaming category and 4 in the Metaverse category.

In addition to APIs, AI, Privacy, and Tooling, other categories of related Web 3.0 projects.

In May, a total of  projects involving blockchain infrastructure received $431.83M in funding, representing 28.37% of all financing.

There were  DeFi-related projects, making up 17.21% of all financing projects in May. The total amount of DeFi-related projects raised was $64.40M, representing 4.23% of the total financing, this was a decrease -74.17% compared to April 2023.

 CeFi projects were funded, comprising 5.74% of the total number of financing projects. Altogether, these projects raised $108.44M, which was 7.12% of the total financing in May, representing a -9.94% decrease from April 2023.

Additionally, there were  NFT projects that received a total of $109.40M in financing. Representing 7.19% of all financing, this was an increase of 20.97% compared to April 2023.

Crypto Fundraising Deal Count by Transaction Type

The majority of raised funds for the crypto market come from Series C rounds, the total amount is $580.00M in May. The biggest Series C round fundraising is $450.00M, when Anthropic gets funding in May 2023.

Number of Investments by Investors

In May, Polygon had the most investments, with a total of 8 projects, including 4 Web3, 3 NFTs, 2 Infrastructure, 1 Other, and 1 DeFi project.

Also, NGC Ventures has invested in  projects, with  of those investments going towards Web3 projects,  towards Infrastructure projects,  towards Web3 projects,  towards DeFi projects, and  towards NFTs projects. Other investment institutions\VC funds such as DeFi, NFTs, etc., also invested in more than one project in May.

Top 5 Crypto Fundraising Deals In May

• Anthropic($450.00M) | Anthropic is an AI-driven research company that focuses on increasing the safety of large-scale AI systems — with participation from Google, Salesforce Ventures, Sound Ventures, Spark Capital, Zoom Ventures
• ($115.00M) | Worldcoin is an open-source protocol, supported by a global community of developers, individuals, economists and technologists committed to expanding participation in, and access to, the global economy. — with participation from 1confirmation, Andreessen Horowitz(a16z), Andreessen Horowitz(a16z), Apollo Capital, Bain Capital Crypto, Blockchain Capital, Blockchange Ventures, COINBASE Ventures, CoinFund, Day One Ventures, Digital Currency Group, Distributed Global, Fifty Years, Hashed Emergent, Hypersphere Ventures, Kenetic, Khosla Ventures, Multicoin Capital, Reid Hoffman, Sam Bankman-Fried, Three Arrows Capital, Variant
• ($81.00M) | Auradine is working on breakthrough scalability, sustainability and security solutions for the future of internet infrastructure, enabled by revolutionary blockchain, security, zero-knowledge and AI technologies. — with participation from Celesta Capital, Cota Capital, DCVC, Marathon Digital Holdings (MARA), Mayfield, Stanford University
• ($52.00M) | Magic is a developer SDK that integrates with your application to enable passwordless Web3 onboarding (no seed phrases) and authentication using magic links (similar to Slack and Medium) — with participation from Alexis Ohanian, Balaji Srinivasan, Ben Pruess, Casey Neistat, Cherubic Ventures, Cherubic Ventures, CoinFund, Digital Currency Group, Guillermo Rauch, Jacob Jaber, Kayvon Beykpour, KX, Lightspeed Venture Partners, Northzone, Northzone, Paul Yacoubian, PayPal Ventures, Placeholder, Refactor Capital, Roham Gharegozlou, Ryan Hoover, Sahil Lavingia, Scott Belsky, Social Capital, Soona Amhaz, SVAngel, Synchrony, Tiger Global, Unusual Ventures, Varsha Rao, Volt Capital, Volt Capital
• Applied Digital($50.00M) | Applied Digital (Nasdaq: APLD) designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high-performance computing (HPC) industry
• The data presented is based on information extracted from CoinCarp Fundraising Database. Announced deals were used in the analysis. Some announced deals might not go on to complete, where deals have failed to complete and were indicated in the data as canceled or withdrawn, they were removed from our dataset. The deal count figures presented in this report refer to the number of deals announced, and whether or not a value has been disclosed for the deal.

1. https://www.coincarp.com/fundraising/

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