Web3 Funding Roundup: $198M Raised Across 14 Deals
Kaiko's $57M Series B leads a week of blockchain infrastructure and fintech investments
1Blockchain funding momentum
The Web3 sector secured $198.25 million across 14 deals during the reporting period, with 10 disclosing amounts. This continues a broader trend of investment flowing into blockchain infrastructure and financial services. The deals spanned Series B expansions, seed rounds, and strategic acquisitions, reflecting diverse maturity stages across the ecosystem. Notably, blockchain services and infrastructure projects dominated the funding focus, mirroring institutional adoption patterns.
2Kaiko's data dominance
Digital asset data provider Kaiko raised $57 million in an extended Series B, bringing the round total to $110 million. Led by S&P Global with participation from 11 financial institutions including BNP Paribas and Nasdaq Ventures, the funding targets analytics expansion for on-chain capital markets. Kaiko serves institutional clients with crypto market data, indexes, and pricing feeds—a sector seeing increased demand as traditional finance adopts digital assets.
3Fintech's stablecoin bridges
Two notable rounds targeted payment infrastructure: Fin.com's $20 million seed for API-based stablecoin banking integration, and dtcpay's $15 million Series A extension for multi-currency settlement networks. Both solutions aim to bridge crypto and traditional finance, with Fin.com focusing on payment corridors and dtcpay expanding merchant adoption—reflecting growing demand for hybrid financial infrastructure.
4Private credit goes on-chain
Tare secured $13.25 million in seed funding to develop blockchain infrastructure for private lending markets. Backed by Blockchain Capital and Avalanche Foundation, the platform combines loan origination, servicing, and funding into a unified system. This mirrors broader DeFi trends toward institutional-grade credit solutions, with Tare specifically targeting institutional investors and lenders through its architecture.
5Strategic acquisitions accelerate
Three significant M&A deals occurred: S&P Global acquired smart contract auditor OpenZeppelin to bolster digital asset risk assessment, IRF purchased intent-execution protocol Nomina for AI/DeFi integration, and BabyDoge ecosystem bought content platform LimeWire. Each acquisition targets specific capability gaps—security infrastructure, transaction automation, and content monetization respectively—in buyers' Web3 stacks.
6Corporate debt innovations
Two structured debt deals emerged: USD.AI's $40 million renewable GPU-collateralized credit line for AI companies, and Evernorth's $30 million convertible bond offering tied to an upcoming SPAC merger. These highlight crypto-native approaches to corporate financing, combining traditional instruments with blockchain settlement and XRP-focused treasury management strategies.
7Investor participation trends
Coinbase Ventures and Mirana Ventures were most active, participating in two deals each. The investor pool showed strong crossover interest, with traditional finance players like HSBC and Royal Bank of Canada co-investing alongside crypto-native funds. This aligns with observed patterns of institutional capital flowing into middleware and regulated segments of Web3.
8Infrastructure's funding premium
Blockchain infrastructure and service providers accounted for 78% of disclosed funding amounts, underscoring investor preference for picks-and-shovels plays over consumer applications. The concentration in B2B solutions reflects maturing market dynamics, where enabling technologies attract capital ahead of end-user adoption cycles in institutional crypto markets.
Original article: INCRYPTED — Web3 Funding Roundup: $198M Raised Across 14 Deals