A new round of fundraising activity has invested more than $250 million into blockchain ventures

The data outlines capital inflows across various Web3 sectors, including security, entertainment, analytics, identity verification, and meme-based projects.

A new wave of fundraising activity has seen more than $250 million flow into blockchain ventures, according to an infographic released by Phoenix Group on May 10.

The data, compiled from Crunchbase, highlights capital inflows across various Web3 sectors, ranging from cybersecurity and identity verification to entertainment and meme-based projects.

Among the largest funding rounds, NewLimit, a startup appearing to combine biotechnology and blockchain, secured $130 million. Investors included a16z crypto, Dimension, and Founders Fund. However, details about the company's product or roadmap were not immediately available.

Mid-sized funding rounds saw Doppel raise $35 million to support its data integrity and Web3 identity protocol. Union Square Ventures and a16z crypto's participation highlights the ongoing interest in decentralized identity solutions.

In the cybersecurity domain, Sentora secured $25 million from Initialized Capital, Castle Island Ventures, and Tioga Capital for its tools designed to safeguard blockchain infrastructure. This area is gaining importance as broader adoption of blockchain technology increases.

Capital also flowed into entertainment and gaming applications. T-Rex, a blockchain platform focused on cultural distribution and online virality, secured $17 million from investors including Portal Ventures and Arbitrum Gaming Ventures. EVG is developing the project and has experience in Southeast Asian digital product markets.

Sonic, a Layer 2 blockchain built for gaming applications, raised $10 million in a funding round led by Galaxy Interactive. The chain is positioned to support game developers creating games in Web3 environments.

Smaller funding rounds went to a variety of use cases. DogEOS, a meme-based token project on the EOS network, raised $6.9 million. Polychain Capital led the round, showcasing continued interest in meme-focused ventures.

A blockchain analytics platform, GoQuant, closed a $4 million funding round led by gumi Cryptos and TNB Capital. The platform appears to be concentrating on enhancing the visibility and usability of blockchain data.

Finally, Xweave, a firm focused on decentralized storage solutions, received a $3 million investment from Multicoin Capital and Fabric Ventures. The platform is designed to meet the storage requirements of a decentralized network setting.