Crypto Startups Score $227M in Funding, With Ledger Leading the Way

This week, 11 different crypto startups received funding, totaling an estimated $227 million. This represents a slight increase from the previous week, during which companies secured $190 million.

Ledger, a cryptocurrency hardware company, secured the largest amount of funding, raising $109 million in its series C round from investors, including 10T, CapHorn Invest, Morgan Creek Capital, and Cathay Innovation.

Following this round of capital, Ledger’s valuation is said to be $1.4 billion.

This funding announcement is notable given the recent scrutiny of centralized exchanges for security concerns and the growing interest in self-custody.

EigenLabs, the team behind EigenLayer, a re-staking protocol on Ethereum, raised $50 million in a Series A round led by Blockchain Capital, with participation from Electric Capital, Polychain Capital, Hack VC, Finality Capital, and Coinbase Ventures, among others.

EigenLayer aims to create a new model for trust in the crypto ecosystem, allowing developers to easily consume trust instead of building it from scratch. The team plans to launch EigenLayer in phases throughout the year.

From @sreeramkannan: pic.twitter.com/upJTW34I9Q

— EigenLayer (@eigenlayer) March 28, 2023

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