VC Roundup: Blockchain startups remain popular among investors in August
Summary
Blockchain-based protocols are closing the third quarter of 2024 with fewer deals with venture capitalists but still, high-value funding raises and optimism across the industry.August alone has seen a number of Web3 startups securing big checks. Investors were also looking to pour millions of dollars into the Telegram-based game Hamster Kombat, but the developers reportedly declined the offer to focus on its community needs.The ecosystem has also welcomed new funds targeting Web3 startups. The industry also saw a 12.5% decrease in the number of deals, indicating a shift toward larger, potentially fewer, but more significant investments in the sector.This edition of Cointelegraphs VC Roundup explores some other startups that raised funding in August.Web3 liquidity layer Orderly Network has secured over $5 million in investment from OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital, and Origin Protocol. The funding follows a previous seed round that raised $20 million from venture capital firms such as Pantera, Sequoia China, Laser Digital, Dragonfly, and Jump. The initial phase of the startups work targets Solanas network bandwidth optimization, addressing transaction inclusion rates and censorship resistance.