2024 Q1 Sees Significant Surge in Crypto Fundraising; Startups Gain $2.4B

• PitchBook reveals 2024 Q1’s substantial increase in crypto fundraising, with startups accumulating $2.4 billion.
• Ethereum’s EigenLayer has raised $100 million in a Series B funding round.
• Together AI secures the largest deal of the quarter, raising a $106.0 million early-stage round.

According to the latest insights from market data aggregator PitchBook, the first quarter of 2024 has seen a substantial surge in crypto fundraising. The report unveiled that Ethereum’s restaking platform, EigenLayer, has led the charge, raising $100 million in Series B funding round.

PitchBook revealed that the $2.4 billion fund accumulated by startups across 518 deals marks a 40.3% increase from the previous quarter. In addition, the platform pointed out that the figure represents “a 44.7% increase in deal volume compared with the last quarter.”

The report further spotted the significant achievement of Together AI, “developer of an open-source, decentralized cloud platform for large foundation models.” As per the report, Together AI secured the largest deal of the quarter, raising a $106.0 million early-stage round “led by Salesforce Ventures at a $1.1 billion p…

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