Despite the tight venture capital market, unicorns are still being created every month, a new analysis by TechCrunch indicates.
The media platform scoured data from Crunchbase, CB Insights, and PitchBook, to unveil a list of 38 startups with unicorn status that have been created so far in 2024. The list is dominated by Artificial Intelligence startups, but cybersecurity, health tech, and fintech also play a big part.
Not to be left behind is the blockchain sector which has seemingly gone under the radar in terms of tech narratives in recent times.
Unicorn is the term used in the venture capital industry to describe a startup company valued at over $1 billion without being listed on the stock market.
Below we highlight the blockchain-based tech unicorns in the list:
1.) Monad Labs — $3 billion
Monad, which is working on a faster version of the Ethereum blockchain, raised a $225 million Series A in April, valuing the company at $3 billion. To date, the company has raised more than $244 million from investors, including Amber Group and Artichoke Capital.
2.) EigenLayer — $1.1 billion
EigenLayer is behind a new project for Ethereum called staking, which involves using Ether tokens as security. Launched in 2021, it picked up a $100 million Series B in February, led by a16z, giving it a $1 billion valuation, according to PitchBook. In total, the company has raised a little more than $160 million in venture funding, with other backers including Blockchain Capital and Apollo Crypto.
3.) FarCaster — $1 billion
INTRODUCING | A Look at FarCaster, the Rising Decentralized Crypto Social Network
Farcaster unveiled ‘Frames’ on January 26 2024, introducing interactive mini applications for both individuals and developers. Almost two weeks after the launch of Frames, Farcaster experienced a… pic.twitter.com/CEFL5vvqMI
— BitKE (@BitcoinKE) April 28, 2024
The open source, blockchain-based social media startup closed a $150 million Series A led by Paradigm, leading to a post-money valuation of $1 billion. Launched in 2021, it’s backed by a16z and Union Square Ventures and has raised more than $180 million in funding to date, according to PitchBook.
4.) Humanity Protocol — $1 billion
This blockchain palm-scanning identity startup, founded in 2023, raised a $30 million seed round, giving it a post-money valuation of $1 billion. In total, the company has only raised $30 million from investors, including hedge fund Ash Park Capital and Aza Ventures, according to PitchBook.
For the full list, you can click here.
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