This edition of Cointelegraph’s VC Roundup features Orderly Network, Echelon, Solayer Labs, Parlay Labs, Level, and Quai.
Blockchain-based protocols are closing the third quarter of 2024 with fewer deals with venture capitalists but still, high-value funding raises and optimism across the industry.
August alone has seen a number of Web3 startups securing big checks. PIP Labs, for instance, raised $80 million for its Story Protocol, hitting a $2.25 billion valuation in its Series B round. Backers of the layer-1 blockchain designed for managing intellectual property include a16z Crypto and Polychain Capital.
The month also saw Andrena securing $18 million to offer decentralized wireless internet and Gameplay Galaxy receiving $24 million in funds for its blockchain-based game. Investors were also looking to pour millions of dollars into the Telegram-based game Hamster Kombat, but the developers reportedly declined the offer to focus on its community needs.
