Crypto’s Capital Carousel: Who Got Funded This Week?

The Big Picture

Another week, another \(110 million sloshing through crypto's pipes. The June 16-22 funding round saw **16 deals** - a slight uptick from last week's 14 - but with significantly smaller average checks (down 44% to \)6.9M per deal). This continues the trend we’ve observed since May: investors aren’t necessarily pulling back, but they’re being more surgical with their bets.

AI Eats Crypto (Again)

The standout? AI-crypto hybrids accounted for nearly half the total funding. Notable raises:

• Cluely ($15M): Building “undetectable” AI assistants for professional scenarios (a16z-backed)
• PrismaX ($11M seed): Decentralized incentive models for robot vision data (a16z CSX led)
• Gradient Network ($10M): Community-driven decentralized AI infrastructure

My take: The narrative that “AI is sucking oxygen from crypto” needs refinement. What we’re seeing is convergence - projects blending AI’s utility with crypto’s incentives are winning checks.

Stablecoins & Infrastructure Show Resilience

Despite the AI hype, traditional crypto sectors held their own:

• Ubyx ($10M): Ex-Citi team building stablecoin-bank bridges
• TAC ($11.5M total): EVM-to-TON interoperability solution
• SaturnX ($3M): Profitable stablecoin rails for emerging markets

The common thread? Real-world use cases with measurable traction. As one VC whispered to me last Thursday: “We’ll fund infrastructure all day long if it actually moves money.”

The Cold Hard Dashboard

Bottom Line

While the dollar amounts might suggest cooling interest, the activity tells a different story. Investors aren’t fleeing crypto - they’re demanding clearer paths to adoption. The days of funding whitepapers are over; now it’s about demonstrable tech plus business models that don’t require hopium.

Pro tip for founders: If your pitch deck has more mentions of “web3 revolution” than actual customers, maybe wait for the next bull run.