Crypto Firms Secure $823 Million in Funding During September
According to Blockworks, crypto firms collectively raised $823 million in September, with investments spread across 200 companies. Celestia led the pack with a notable $100 million raised through its ecosystem fund, followed closely by Infinex, which garnered $65 million via public token sales. Significant contributions came from strategic funding efforts, particularly from initiatives like those of the TON Foundation. Notably, seed rounds were prevalent, with 41 companies obtaining seed funding last month, as reported by TIE data.
The decentralized finance (DeFi) sector also performed well, with 33 companies announcing funding rounds. However, Protocol Development emerged as the frontrunner in total funds raised, securing $192 million. As October unfolds, the funding environment seems to be slowing down, with only a few token unlocks expected later in the month.
In a related initiative, Humanode has introduced a $10 million Ecosystem Funding Program to support the development of Sybil-resistant projects on its platform. This program will initially prioritize consumer dapps capable of reaching a million unique users. Humanode intends to collaborate closely with selected projects, providing not just financial backing but also technical, media, and community-building resources. The team, including founders and key members, will guide these projects throughout their development.
Dato Kavazi, co-founder of Humanode, highlighted the importance of investing in individuals and projects that recognize the significance of Sybil-resistance in their applications. The aim is to empower initiatives that have the ambition and potential to make a meaningful impact in the industry.