A recent report by Binance Research shows insightful data highlighting the most notable fundraising rounds within the infrastructure category during the initial three quarters of 2023. Let’s delve into the top five rounds for each quarter, showcasing the remarkable amount they were able to attract in the industry.
Q1 2023
Ledger, a company specializing in cryptocurrency hardware wallets and security solutions, dominated the funding round in this category during Q1. They raised an impressive $105 million in Series C. Later in the year, Ledger released an updated version of its wallet, offering enhanced services such as secure storage and management for over 5,500 coins and tokens.
Following closely behind is Chain Reaction, which secured $70 million in Series C funding. Chain Reaction specializes in providing custom ASIC and computing solutions to achieve higher efficiency and privacy-preserving computing infrastructure.
Taurus, a digital asset infrastructure provider catering to financial institutions, received $65 million in funding. They offer comprehensive solutions that facilitate the integration and management of digital assets within the financial sector.
QuickNode successfully raised $60 million in Series B funding. Their platform focuses on Web3 blockchain API and Node infrastructure, providing services and support for developers and businesses involved in blockchain applications, particularly within the Web3 ecosystem.
Lastly, EigenLayer attracted $50 million in investment. They specialize in providing restaking infrastructure, enabling users to utilize Ethereum ($ETH) to crypto-economically secure other protocols.
Q2 2023
In Q2, LayerZero raised an impressive $120 million in a Series B round, surpassing Ledger. LayerZero is an omnichain interoperability protocol designed for lightweight message passing across different blockchain networks. It ensures authentic and guaranteed message delivery with configurable trustlessness, enabling direct and trustless communication between chains.
Following LayerZero is Auradine, which secured $81 million. Auradine specializes in providing blockchain mining, privacy, and AI infrastructure solutions.
Magic, on the other hand, received $52 million. Magic is a wallet-as-a-service provider for B2C firms aiming to onboard users into web3 by offering instant non-custodial wallet creation.
The remaining two projects are Gensyn, which obtained $43 million. Gensyn serves as a decentralized AI computing network for training AI models. Lastly, PolyHedra secured $15 million and offers cutting-edge zero-knowledge-proof systems as an infrastructure for Web3 interoperability.
Q3 2023
In Q3, the top projects that attracted the most funds were Futureverse, Cosmic Wire, ZetaChain, Bastion, and Supra.
Futureverse, an AI metaverse infrastructure, received a staggering $54 million. Cosmic Wire, a service provider for global businesses, attracted $30 million.
ZetaChain secured $27 million, while Bastion, a Web3 API firm for businesses, raised $25 million. Lastly, Supra, a Web3 Oracle for Devs, received $24 million in funding.
