This report offers an overview of the fundraising deals within the global crypto market in April 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 April, the total number of crypto fundraising deals was 129, a decrease of -1.53% from the 131 in March 2023; the total financing in April was US$1.32B, a -86.08% decrease from the previous month. 9.3% of the crypto projects are in the Series B series stage. From the perspective of fundraising scale, there were 23 projects of fundraising above $10M, which has decreased -23.33%, compared to March 2023. 2 projects of fundraising above $100M, which has decreased -60%, compared to March 2023. By geography, a total of 31 projects founded in the United States of America received $558.90M, 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, Canada, Cayman Is., United Kingdom.

Crypto Fundraising Deal Count by Sector

In April, out of the 129 projects that were successfully financed, 45 of them were Web 3.0 projects, constituting 34.88% of the total projects. These projects raised a total of US183.34M, which is 34.88% of the total funds raised that month. This amount is US$114.04M lower than the funds raised in March 2023.

Out of the 129 Web3 projects, the most relevant are those related to the Gaming category, with 6 being in the Metaverse category and 6 in the Gaming category.

In addition to AI, Payment, Data and Social network, other categories of related Web 3.0 projects.

In April, a total of 27 projects involving blockchain infrastructure received $507.58M in funding, representing 38.43% of all financing.

There were 23 DeFi-related projects, making up 17.83% of all financing projects in April. The total amount of DeFi-related projects raised was $249.35M, representing 18.88% of the total financing, this was an increase of 164.84% compared to March 2023.

On April, 5 CeFi projects were funded, comprising 3.88% of the total number of financing projects. Altogether, these projects raised $120.40M, which was 9.12% of the total financing in April, representing a -61.44% decrease from March 2023.

Additionally, there were 19 NFT projects that have received a total of $70.43M in financing. Representing 5.33% of all financing, this was a decrease of -35.08% compared to March 2023.

Crypto Fundraising Deal Count by Transaction Type

The majority of raised funds for the crypto market come from Series B rounds, the total amount is $525.60M in April. The aggregate deal value of Series B for April is higher than the previous month by 166.67%. The biggest Series B round fundraising is $221.00M, when CoreWeave gets fund in April 2023.

Number of Investments by Investors

In April, The Spartan Group had the most investments, with a total of 8 projects, including 4 DeFi, 4 Infrastructure, 2 NFTs, 1 Web3 and 1 Others projects.

Also, Hashkey Capital has invested 8 projects, with 4 of those investments going towards Web3 projects, 5 towards Infrastructure projects, 4 towards Web3 projects, 2 towards DeFi projects and 1 towards Other. Other investment institutions\VC funds such as DeFi, Others, etc. also invested in more than one project in April.

Top 5 Crypto Fundraising Deals In April

• CoreWeave($221.00M) | Founded in 2017 by Intrator, Brian Venturo and Brannin McBee, CoreWeave is a specialized cloud provider, delivering a massive scale of GPUs on top of the industrys fastest and most flexible infrastructure. — with participation from Daniel Gross, Magnetar Capital, Nat Friedman,Nvidia

• LayerZero($120.00M) | LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner — with participation from Andreessen Horowitz(a16z), Andreessen Horowitz(a16z), Animoca Brands, ATRUM, Avalanche Foundation, Binance Labs, Bixin Ventures, Blockdaemon, Bond Capital, BPEA EQT, Brandon Green, cFund, Chapter One, Chris Spadafora, Christie’s Ventures, Circle Ventures, Coinbase Ventures, CoinFund, Com2uS, Common Metal, Dapper Labs, DeFiance Capital, Delphi Digital, Echelon Capital, Exponent, Fantom Foundation, Franklin Templeton Investments, FTX Ventures, GCR, Gemini, Genblock Capital, GHAF Capital Partners, Hypersphere Ventures, imToken Ventures, IOBC Capital, Joe Lau, Joel Smith, Joey Santoro, Justin Bram, Justin Sun, Justin Timberlake, K5 Global, King River Capital, Kronos Research, Lightspeed Venture Partners, Maple VC, Maria Eitel, Matrixport, Muhabbit Capital, Multicoin Capital, MVP Ventures, NGC Ventures, Nikil Viswanathan, OKX, OpenSea, Operator Partners, OSAZ, PayPal Ventures, Polygon, Protocol Ventures, Protofund, Robot Ventures, Roham Gharegozlou, Russell Smith, Samsung Next, Sandeep Nailwal, Santiago R. Santos, Sarah Guo, Sequoia Capital, Sequoia Capital, Sino Global Capital, Space Whale Capital, The Spartan Group, Stani Kulechov, Sunny Aggarwal, The Lau Brothers, Tiger Global, Tom Brady, Uniswap, Volt Capital, Zokyo

• Pinecone($100.00M) | The Pinecone vector database makes it easy to build high-performance vector search applications — with participation from Andreessen Horowitz(a16z), ICONIQ Growth, Menlo Ventures, Wing VC

• Unchained Capital($60.00M) | Unchained Capital is a bitcoin native financial services company offering collaborative custody multisignature vaults and loans for bitcoin holders. — with participation from Ecliptic Capital, Highland Capital Partners, NYDIG, NYDIG, Trammell Venture Partners, Valor Equity Partners

• Sei Labs($50.00M) | Sei is the fastest layer 1 blockchain uniquely optimized for DeFi — with participation from Asymmetric Partners, Bitget, Bixin Ventures, Coinbase Ventures, Distributed Global, Flow Traders, Foresight Ventures, GSR Ventures, Hypersphere Ventures, Jump Crypto, Multicoin Capital, Multicoin CapitalThe 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.

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