Blockchain startups reached $2.4 billion in funding in Q3 2024, marking a 20% decrease from the previous quarter. Despite the drop, 2024 is on track to exceed 2023 investment levels.
Current Market Trends
Between July and September 2024, crypto startups closed 478 deals, a 17% decrease from the second quarter. However, annual figures are on pace to match or slightly exceed 2023 investment levels, with $8 billion invested so far. Crunchbase reports a more conservative figure of $5.4 billion over the first three quarters.
Key Players and Investments
Startups combining artificial intelligence and blockchain technologies saw a fivefold increase in funding over the last three months, raising $188 million. Layer-1 blockchain projects attracted $341 million, followed by trading and infrastructure companies.
Leading Blockchain Startups
Decentralized AI startup Eidon AI raised $3.5 million. Brevis secured $7.5 million for offchain ZK-proofs computations. Multiledgers raised $1 million for ESG-linked assets. Alluvial raised $4.3 million, bringing its total funding to $22.5 million.
Despite a downturn in the third quarter, the blockchain startup market continues to attract significant investments. Emerging areas such as AI and ESG assets offer new opportunities for investors and technology.
