Drift

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Raise

Celestia

The leading decentralized finance (DeFi) aggregator DefiLlama recorded that the venture capital (VC)&nbsp; raised millions to support crypto startup development. As per data from DefiLlama, VC funds generated approximately $659 million in September. 
Compared to the previous months, the DefiLlama report indicated that venture capital has doubled its efforts to support crypto startups. Data shows that VC Funds has invested $63 million to support blockchain games and address critical gaming challenges. 
<h2 id="strong-venture-capital-seeks-to-redefine-crypto-ecosystem-strong">Venture Capital Seeks to Redefine Crypto Ecosystem</h2> 
At that time, high-profile games such as the Animoca Brand, Aptos Labs, DWF Labs, and Andreessen Horowitz (a16z) contributed $30 million to the funding round. In particular, the venture capital teamed up with notable investors to raise funds to support integrating emerging technologies such as artificial intelligence (AI) into the blockchain. 
The proposed integration of AI into blockchain games aims to offer the players an immersive and interactive experience. Funding from renowned crypto investors becomes fruitful when blockchain games hit 32% monthly growth. 
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Apart from supporting the integration of AI into gaming, the venture capital allocated half of the amount to support Balance Games in attaining its end goal.&nbsp; 
Interestingly, the rapid evolution of the crypto space has forced startups to raise funds to refurbish blockchain infrastructure. A September report showed that around $471 million was raised to support blockchain infrastructure development. 
 These figures represented approximately 71% of funding generated to support the crypto startups in September. The amount raised mirrors the funds secured in August to support the development of blockchain infrastructures. In September, Celestia (TIA) secured $100 million in a funding round. 
<h2 id="strong-crypto-startups-invest-in-improving-blockchain-strong">Crypto Startups Invest in Improving Blockchain&nbsp;</h2> 
The main contributors in the funding round included Robot Ventures, Bain Capital Crypto Syncracy Capital, 1KX, and Placeholder, among others. The Celestia team confirmed that the $100 million will be redirected towards developing its modular blockchains to address scalability concerns. 
Huma Finance secured $38 million in a funding round the same month. Huma Finance stated that the funds would be used to support the development of a blockchain-oriented payment network. ParaFi Capital and HashKey Capital led the Huma funding round. 
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Other investors, including Fenbuishi Capital and Folius Ventures, supported the fundraising. Besides improving the blockchain infrastructure, funds directed toward developing the DeFi ecosystem declined in September. The report shows that DeFi startups secured $58 million in September, a 55% decline from the previous month. 
<h2 id="strong-will-venture-capital-raise-more-funds-in-october-strong">Will Venture Capital Raise More Funds in October?</h2> 
In September, Drift generated $25 million in a Series B funding round led by Multicoin Capital. The funds will be used to support the development of financial service tools such as on-chain prediction market derivative trading, among others.&nbsp; The funds will be used to expand Drift’s workforce by 2025. The Drift team seeks to tap top-tier talent in blockchain and DeFi to position the company as the next crypto Robinhood. 
Concurrently, the Puffpaw funding round emerged as the second largest capital raised to support the DeFi ecosystem. As the DeFi funds depreciate, the Web3 startups generated $59 million in September. These funds will support migrating traditional services to blockchain to boost Web3 experiences. 
Notably, VC funds play a significant role in promoting the development of the crypto sector and reshaping the finance sector. To be up-to-date on how venture capital supports the growth of crypto startups, follow the<a href="https://www.turkishnyradio.com/">&nbsp;TurkishNY Radio</a> on<a href="https://www.tumblr.com/turkishnyradio" rel="nofollow noopener" target="_blank"> Tumblr</a>,<a href="https://t.me/tnyr_news" rel="nofollow" target="_blank"> Telegram</a>, and<a href="https://www.linkedin.com/company/turkishny-radio/" rel="nofollow noopener" target="_blank"> LinkedIn</a>.

Venture Capital Pumps $691M Into Crypto Startups

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