Crypto startup investments increased for the second quarter in a row. According to information compiled by Reuters from the Pitchbook report, as of the first quarter of 2024, investments in crypto startups increased by 40% compared to the previous quarter and reached $2.4 billion.

General VC investments plummeted, cryptos soared!

In the report of Pichbook, a firm that provides important data for professional investors, financial analysts, consultants and corporate clients, it was informed that general venture capital investments (VC investments) reached the lowest level in the last 5 years. In such an environment, while it was written that the increasing investments in the crypto world were remarkable, it was stated that 518 deals were officially completed in the crypto field in total.

Speaking on the subject, Pitchbook analyst Robert Le drew attention to the increase in corporate adaptation and said, “The recovery in publicly traded tokens and continued rise in institutional adoption will drive increased VC funding,” Robert Le also said that investment rounds have also witnessed a big battle between companies.

Together AI received the largest investment

The report also announced the investment leader of the first quarter of 2024. According to the information provided; In the investment round led by Salesforce Ventures, the corporate venture capital arm of cloud computing giant Salesforce, the 106 million dollar fund provided to the Together AI startup was the largest investment of the first quarter. Together AI reached a total valuation of $1.1 billion with this funding.

Together AI is known for developing digital solutions that aim to support the mental health of children and young people and allow parents to take a more active role in this process.