In the first half of 2024, Web3 startups raised a total of $3.7 billion in financing, showing signs of recovery

According to the latest report from Crunchbase, Web3 startups raised $3.7 billion in funding in the first half of 2024. Although this figure is down 18% from the first half of 2023, it represents a significant increase of 42% compared to the second half of last year. On a quarterly basis, Web3 startups raised over $2 billion in Q2 2024, slightly more than the $1.8 billion raised in Q1 but down by 18% compared to the same period last year when they collected $2.2 billion. However, after eight consecutive quarters of decline, financing for Web3 startups has increased for two consecutive quarters now. In addition, while total funding has increased somewhat there have been few large-scale funding rounds - only seven rounds exceeded $50 million.