Web3 venture funding stabilizes after rocky 2023 – Crunchbase

Large funding rounds are still few and far between in Web3, according to Crunchbase.

Venture funding for Web3 startups is stabilizing after a year-long decline that started in 2023, with crypto ventures locking up some $2 billion in financing in the second quarter of 2024, according to Crunchbase.

The Q2 numbers are only modestly higher than the $1.8 billion raised in the prior quarter but reverse a downtrend that saw Web3’s quarterly venture funding totals drop by roughly half last year, from $2.3 billion in Q1 of 2023 to $1.4 billion in Q4, according to Crunchbase.

A drop in the total volume of deals mirrored the decline in funding. Total deal volume fell from a peak of 681 in Q1 of 2023 to some 284 in Q4. Despite the most recent quarter’s rebound in funding amounts, deal volume continues to languish, with only 291 financing rounds closing in Q2 of 2024, according to the data.

Large funding rounds are still few and far between in Web3, according to Crunchbase.
Venture funding for Web3 startups is stabilizing after a year-long decline that started in 2023, with crypto ventures locking up some $2 billion in financing in the second quarter of 2024, according to Crunchbase. The Q2 numbers are only modestly higher than the $1.8 billion raised in the prior quarter but reverse a downtrend that saw Web3’s quarterly venture funding totals drop by roughly half last year, from $2.3 billion in Q1 of 2023 to $1.4 billion in Q4, according to Crunchbase.A drop in the total volume of deals mirrored the decline in funding. Total deal volume fell from a peak of 681 in Q1 of 2023 to some 284 in Q4. Despite the most recent quarter’s rebound in funding amounts, deal volume continues to languish, with only 291 financing rounds closing in Q2 of 2024, according to the data. Read more