VC funds invested $485 million in crypto startups in February, marking a 5.3% month-to-month growth and the highest investment volume in the last three months. Infrastructure, DeFi, Web3, and gaming projects received significant allocations.
February saw a surge in venture capital (VC) investments into the crypto space, totaling $485 million, according to data from DefiLlama. This marks a 5.3% increase from the previous month and represents the highest investment volume in the last three months.
The majority of investments in February went towards infrastructure-related startups, with $387 million allocated to such projects. One notable investment was a $100 million injection into EigenLayer from a16z during a private round, making it the largest VC allocation in the crypto startup scene for the month.
Another significant investment occurred in the liquid staking platform EtherFi, which secured $27 million in a series A round led by Bullish and CoinFund. Similarly, the payments platform Oobit completed a successful series A funding round, raising $25 million with backing from Tether and CMCC Global.
Investor interest also gravitated towards teams developing decentralized finance (DeFi) products, with over $48 million invested in such projects during February. Superform Labs, for instance, received $6.5 million in a seed round led by Polychain Capital to develop a universal yield marketplace.
Omega's vision to establish a DeFi ecosystem on the Bitcoin network resonated well with investors, resulting in a $6 million private round with the participation of Borderless Capital and Blockchain.com.
Web3-focused applications attracted approximately $18 million in VC funding last month. Beoble, for example, secured $7 million from investors like Samsung Next and Hashkey Capital to create a Web3 messaging app and social platform, marking the largest investment round in this segment of the crypto industry.
Gaming projects also received substantial attention, with $33 million invested in this sector. Notably, new game studios received significant investments, including an $8 million series A round led by Pantera Capital for gaming studio Helika. Additionally, Pixelmon, a Web3 game, secured another $8 million in funding with participation from Animoca Ventures and Delphi Ventures.