Web3 startups secured $9.6 billion in venture funding during Q2 2025, marking one of the highest totals recorded despite a significant decrease in deal numbers, down to 306 transactions—the lowest in two years. Notably, Series A funding saw a revival, with a median round size of $17.6 million and seed rounds rising to a median of $6.6 million. Infrastructure projects attracted the most capital, with median round sizes between $70 million and $112 million, favoring foundational projects over consumer-facing ones. The report indicated a shift from speculative to high-conviction investing, highlighting a maturing market where investors prioritize durable, proven teams. While private token sales showed an uptick, public token offerings significantly declined, suggesting less interest from retail investors. Overall, the findings reflect a consolidated investment strategy focusing on the essential infrastructure for the future of Web3.

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