VC Yearly Report: December Funding Amount Increases by 60% MoM, 2024 Funding Projects Up 26.1% YoY

Author: Wu Blockchain

According to RootData statistics, 102 Crypto VC investment projects were publicly disclosed in December, reflecting a 7.4% month-on-month (MoM) increase (95 projects in November 2024) but a 6.4% year-on-year (YoY) decrease (109 projects in December 2023). Throughout 2024, a total of 1,535 projects were publicly disclosed, representing a 26.1% increase compared to 2023 (1,217 projects).

Note: Not all funding rounds are disclosed in the same month, so these figures may be updated later.

In 2024, the breakdown of projects by sector is as follows:

CeFi: ~5.7%

DeFi: ~24.4%

NFT/GameFi: ~15.1%

L1/L2: ~11%

RWA/DePIN: ~8.8%

Tools/Wallets: ~7.3%

AI: ~9.6%

The total funding amount for December reached $740 million, showing a 60.9% MoM increase (from $460 million in November 2024) but an 18.7% YoY decrease (from $910 million in December 2023).

For 2024 as a whole, the total disclosed funding reached $9.33 billion, a slight 0.5% increase from 2023 ($9.28 billion).

Top 10 Funding Rounds in 2024:

Stripe: On October 21, Stripe acquired Bridge for $1.1 billion, marking both Stripe’s largest acquisition and the largest in the crypto industry’s history.

Iris Energy: The Australian crypto mining company raised $413.4 million through stock issuance from May to June to fund its 2024 expansion plans. Iris Energy had raised $714 million in total during H1 2024.

Avalanche: On December 12, Avalanche completed a $250 million funding round through a locked token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. Over 40 investors participated, with funds directed toward the “Avalanche9000” upgrade.

Monad Labs: On April 9, Monad Labs raised $225 million in a funding round led by Paradigm, with participation from Electric Capital and Greenoaks, to develop an EVM-compatible Layer 1 blockchain.

Blockstream: On October 15, Blockstream secured $210 million through convertible notes, led by Fulgur Ventures, to accelerate the adoption of its Layer 2 technologies.

Robinhood: The company announced plans to acquire crypto exchange Bitstamp for $200 million in cash, with completion expected in H1 2025, pending regulatory approval.

Bitfarms: On June 6, Bitfarms acquired Stronghold Digital for $175 million in a stock-and-debt deal, after Riot Platforms halted plans to acquire Bitfarms.

CleanSpark and GRIID Infrastructure: CleanSpark merged with GRIID Infrastructure in an all-stock deal valued at $155 million, including payments and assumed debt.

Hut 8: On June 24, Hut 8 secured $150 million in strategic investment from Coatue to develop AI infrastructure. The funding is in the form of convertible notes with an 8% annual interest rate and a five-year term.

Farcaster: On May 21, the decentralized social protocol raised $150 million, led by Paradigm with participation from a16z, Haun Ventures, and others, bringing its valuation to $1 billion.

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