In November, venture capital funds injected nearly $800 million into crypto startups, as reported by DefiLlama data. Although this marked the fourth-best month for funding this year, the amount was slightly lower compared to the previous month.
The blockchain gaming sector saw a substantial increase in funding, with approximately $71 million raised. Monkey Tilt, an online platform offering a gamified gambling experience powered by cryptocurrency, secured the most significant funding in this sector with $30 million, led by Pantera Capital. On the other hand, general web3 projects received $8.2 million in funding.
The infrastructure sector continued to dominate, attracting over $583 million in investments. Notable funding rounds included Zero Gravity Labs raising $40 million and Bitcoin miner Canaan Creative securing $30 million in a private equity offering.
DeFi (decentralized finance) experienced a 31% increase in funding from September to October, reaching $128.2 million in November. USDX Money, a synthetic US dollar-pegged stablecoin issuer, led the way with a $45 million funding round from NGC Ventures, BAI Capital, Generative Ventures, and UOB Venture. World Financial Liberty (WLFI) also raised a significant amount through a token sale, with a $30 million investment from Justin Sun, the founder of Tron. WLFI is a credit market supported by President-elect Donald Trump and his family. Additionally, StakeStone, a liquid staking protocol available on various blockchains, secured $22 million in a strategic round led by Polychain Capital.
Overall, the crypto startup ecosystem continues to attract substantial investments across various sectors, showcasing the growing interest and potential within the industry.