# Web3 Fundraising Landscape (Last 90 Days)

## Overview
- **Total raises in DB:** 6,484
- **Recent (90d) raises:** 20
- **Recent total raised:** $2050M
- **Data Source:** DeFiLlama

## Top Recent Raises

| Project | Round | Amount | Category | Lead Investors |
|---------|-------|--------|----------|----------------|
| Rain | Series C | $250.0M | Payments | Iconiq Capital |
| BitGo | IPO | $212.8M | Custody | - |
| Flying Tulip | Public token sale | $206.0M | DeFi | - |
| Whop | Strategic | $200.0M | Web3 | Tether |
| LMAX Group | Strategic | $150.0M | Trading | Ripple |
| Alpaca | Series D | $150.0M | Trading | Drive Capital |
| Anchorage Digital | Strategic | $100.0M | Banking | Tether |
| Superstate | Series B | $82.5M | RWA | Bain Capital Crypto, Distributed Global |
| Kast | Series A | $80.0M | Payments | QED Investors, Left Lane Capital |
| Novig | Series B | $75.0M | Prediction Market | Pantera Capital |
| Mesh | Series C | $75.0M | Payments | Dragonfly Capital |
| ICEx | ? | $70.0M | Centralized Exchange | - |
| ARQ | ? | $70.0M | Payments | Sequoia Capital, Founders Fund |
| TRM Labs | Series C | $70.0M | Crypto Intelligence | Blockchain Capital |
| OmniPact | ? | $50.0M | Infrastructure | - |

## By Round Type
- **Unknown:** 881 deals, $19172M total
- **Series B:** 274 deals, $16301M total
- **Series A:** 909 deals, $16164M total
- **ICO:** 414 deals, $15855M total
- **Seed:** 2231 deals, $11596M total
- **Series C:** 80 deals, $8801M total
- **Strategic:** 129 deals, $4722M total
- **Series D:** 25 deals, $4150M total
- **IPO:** 7 deals, $3667M total
- **Post-IPO Equity:** 100 deals, $3272M total

## Insights for Founders
- Most active funding stage: **Seed**
- Seed/Pre-seed is accessible — average deal size matters
- Top categories attracting capital: Other, DeFi, Infrastructure, Gaming, L1