Author: WuBlockchain

According to data from RootData, 86 crypto VC-funded projects were publicly disclosed in November, marking a 13.1% month-over-month decline (99 projects in October 2024) and an 8.5% year-over-year drop (94 projects in November 2023). Note: Since not all funding rounds are disclosed within the month, these figures may increase later. The sector distribution is as follows:

Distribution is as follows:

• CeFi: ~8%

• DeFi: ~27%

• NFT/GameFi: ~19%

• L1/L2: ~16%

• RWA/DePIN: ~9%

• Tool/Wallet: ~5%

• AI: ~15%

The total funding amount in November was $450 million, representing a 43.8% month-over-month decline ($800 million in October 2024) and a 65.1% year-over-year drop ($1.29 billion in November 2023). Below are the top 10 funding rounds by value:

Stablecoin Protocol USDX.Money completed a $45 million funding round, bringing its valuation to $275 million. Investors included NGC, BAI Capital, Generative Ventures, and UOB Venture Management. Existing backers such as Dragonfly Capital and Jeneration Capital also participated, with some contributions made via warrants.

Web3 Infrastructure Company 0G Labs raised $35 million in a Pre-Seed round led by Hack VC, with participation from Alliance, Animoca Brands, Delphi Digital, Stanford Builders Fund, Symbolic Capital, and OKX Ventures. Funds will support building a modular AI blockchain.

Sports Prediction Platform Monkey Tilt raised $30 million in Series A funding, led by Pantera Capital. Other participants included Polychain Capital, PokerGo, Hack VC, Dream Ventures, and Accomplice. This latest funding brings its total raised to over $50 million.

Bitcoin Mining Hardware Manufacturer Canaan Inc. secured $30 million through a securities purchase agreement, selling up to 30,000 Series A-1 preferred shares at $1,000 each. Funds will support North American mining and equipment development. Canaan has a deal with HIVE Digital Technologies for 5,000 Avalon A15 miners, set for delivery in Q1 2025.

Staking Protocol StakeStone raised $22 million, led by Polychain Capital, with Binance Labs, OKX Ventures, SevenX, and other participants. StakeStone focuses on ETH/BTC staking networks.

Payments Company Partior completed an $80 million Series B round, adding Deutsche Bank as a new investor. Existing backers include Peak XV Partners, JPMorgan, Jump Trading, Standard Chartered, and Temasek.

Crypto Wallet Startup Deblock raised £13.3 million ($16.8 million) in a seed round, led by Headline, Hoxton, 20VC, and Chalfen. This follows a €12 million funding round last year.

Stablecoin Company Noble secured $15 million in Series A funding, led by Paradigm. Noble has raised $18.3 million in total and partnered with Circle, Ondo Finance, and other issuers. It currently manages assets worth over $458 million.

Crypto AML Startup Notabene raised $14.5 million in a Series B round led by DRW Venture Capital, with Apollo, ParaFi Capital, and Y Combinator among the participants. Notabene helps crypto firms comply with anti-money laundering (AML) regulations.

Modular L1 Network U2U Network raised $13.8 million, with backers including KuCoin Ventures, Chain Capital, and IDG Blockchain. U2U focuses on DePIN solutions, with a team comprising early Ethereum contributors and ex-Google employees.

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