Crypto Fundraising Landscape in November 2023

in hpl •  last year 

The 2023 cryptocurrency fundraising landscape showed significant activity and growth.

FundRaising.png

In November, the total number of crypto fundraising deals was 119, marking a 35.23% increase from October.
The total financing reached $2.15 billion, a staggering 173.79% rise from the previous month. Notably, 14.29% of these projects were in the Debt Financing stage.

Regarding sector distribution, Web 3.0 projects constituted 27.73% of the total, with $357.28 million raised.

This sector included categories like Gaming and E-commerce.
Blockchain infrastructure projects also saw significant funding, receiving $990.46 million and accounting for 45.98% of total financing.
DeFi-related projects raised $119.52 million, 5.55% of the total financing, while CeFi projects contributed $315.71 million.
NFT projects, however, experienced a decrease, raising $62 million, down 29.22% from October.

Most funds came from Debt Financing rounds, totaling $669.79 million.
Among investors, Hashkey Capital and Foresight Ventures were prominent, investing in multiple projects across various sectors like DeFi, Infrastructure, and Web3.

The top 5 crypto fundraising deals in November were:

  • Northern Data ($609.79M)
  • Phoenix Group ($370.00M)
  • Wormhole ($225.00M)
  • Blockchain.com ($110.00M)
  • Fnality ($95.00M)​​​​​​​​​​​​​​​​

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