The crypto industry raised a significant amount of money in October 2024, with a 96% increase in fundraising compared to September. This shows the highest level of fundraising activity since November 2023. There were 282 deals in October, an increase of 25% compared to the previous month. Some notable funding rounds included a $525 million raise by Praxis and a $68 million round for Infinite.
Other notable deals include $43 million raised by Azure Games and $33 million secured by Yellow Card. Early-stage deal volume grew by 18% month-over-month to $396 million, with 72 deals recorded, representing a rise of approximately 13% compared to the previous month. The financial sector saw a slight decrease in deal volume of about 2% but an increase of 23% in deal count to 92 deals.
Crypto exchanges represented 8 of the top 10 raises in the financial sector, with notable deals secured by Ellipsis Labs and Bitfinex. The infrastructure sector experienced a significant increase in deal volume, growing by 73% month-over-month to reach $92 million, but the deal count decreased by 8% to 24 deals.
