Blockchain Startups Attract Over $250 Million in Fresh Capital Inflows

• NewLimit leads crypto fundraising with $130M from major venture firms.
• Mid-stage Web3 firms gain traction in identity, cybersecurity, and gaming sectors.
• Investors show continued interest in niche tokens and decentralized data platforms.

A new round of fundraising activity has invested more than $250 million into blockchain ventures, according to an infographic released by Phoenix Group on May 10, 2025. The data outlines capital inflows across various Web3 sectors, including security, entertainment, analytics, identity verification, and meme-based projects.

The largest raise was secured by NewLimit, which collected $130 million from investors such as a16z crypto, Dimension, and Founders Fund. The project appears to combine biotechnology and blockchain, though detailed information about the company’s product or roadmap was not included in the disclosure.

Key support for data, identity, and security projects

Among the mid-sized funding rounds, Doppel raised $35 million to support its data integrity and Web3 identity protocol. The investment was backed by Union Square Ventures and a16z crypto, indicating sustained interest in decentralized identity solutions.

Cybersecurity-focused Sentora followed with $25 million in funding from Initialized Capital, Castle Island Ventures, and Tioga Capital. The firm is building tools to secure blockchain infrastructure, a focus area gaining relevance as adoption grows.

Capital flows into entertainment and gaming

Entertainment and gaming applications received notable support. T-Rex, a blockchain platform aimed at cultural distribution and online virality, raised $17 million. Investors included Portal Ventures and Arbitrum Gaming Ventures. EVG is developing the project and focuses on Southeast Asian digital product markets.

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

Niche projects gain investor attention

A group of smaller rounds also marked investor interest in niche use cases. DogEOS, a meme-based token project on the EOS network , raised $6.9 million. Polychain Capital led the round, marking another instance of funding for meme-themed ventures.

A blockchain analytics platform, GoQuant, closed a $4 million funding round led by gumi Cryptos and TNB Capital. It seems the platform is focusing on improving the visibility and usage of blockchain data.

A firm focused on bringing decentralized storage solutions came in the form of Xweave, which received a $3 million investment from the likes of Multicoin Capital and Fabric Ventures. The platform is set up to address storage needs in distributed network settings.