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Top 5 DeFi Projects Raising Millions in Latest Funding Rounds

Top 5 DeFi Projects funding in 2023 by web3oclock

The Decentralized Finance (DeFi) sector has seen a surge in investments from crypto-focused venture capitalists, with several projects raising significant funding in recent times. This article highlights the top five DeFi projects that have secured millions of dollars in funding rounds. Along with discussing the funding achievements, we will delve into each project, providing a comprehensive overview of their innovative solutions and how they contribute to the evolving DeFi landscape.

1. LayerZero Labs 

LayerZero Labs, a cross-chain interoperability protocol, recently closed a successful Series B funding round, raising an impressive $120 million and reaching a valuation of $3 billion. The funding came from a group of 33 investors, including renowned names such as a16z crypto, Sequoia Capital, Christie’s, BOND, Circle Ventures, Lightspeed, Samsung Next, and OpenSea Ventures.

LayerZero enables seamless cross-chain messaging and interoperability across different blockchains. By eliminating the need for intermediaries, it empowers decentralized applications to conduct cross-chain exchanges. Stargate Finance, the first DApp built on LayerZero, supports transfers across multiple chains, including Ethereum, BNB chain, Fantom, Optimism, Avalanche, Polygon, and Metis. 

The protocol is endorsed by industry giants like Binance and Coinbase, and it is already being utilized in popular DEX platforms like PancakeSwap, Uniswap, SushiSwap, Hashflow, Radiant, WOO network, and TraderJoe.

With the recent funding, LayerZero plans to expand its presence in the APAC region, hire additional staff at LayerZero Labs, and further solidify its position in the global crypto ecosystem.

2. Scroll ZKP 

Scroll ZKP, the native zkEVM scaling solution for Ethereum, has raised $50 million in its latest funding round, elevating its valuation to $1.8 billion. The funding will be utilized to launch the mainnet and enhance its ecosystem offerings.

Scroll’s zkEVM, launched on the Goerli testnet, has already attracted over 1 million unique addresses and processed 16 million transactions during its pre-alpha testnet phase. By leveraging zk-rollup technology, Scroll achieves faster transaction speeds and reduced costs, alleviating scalability concerns on the Ethereum network.

Investors such as Polychain Capital, Sequoia, Bain Capital Crypto, and Moore Capital Management have participated in Scroll ZKP’s funding round, reinforcing confidence in its innovative scaling solution.

3. Eigen Layer 

Eigen Layer, an ETH staking solution, successfully raised $50 million in a Series A funding round led by Blockchain Capital. Other notable participants included Polychain Capital, Hack VC, Coinbase Ventures, and Finality Capital.

Eigen Layer is currently working towards launching its protocol’s initial version this year, and the recent funding will further strengthen its staking solution. With Ethereum’s upcoming Shapella upgrade, Eigen Layer is expected to gain increased attention as it allows previously locked tokens used for Ethereum network validation to be “restaked” to secure other protocols.

4., an AI-focused blockchain platform, secured a $40 million investment from DWL Labs, a Web3-focused investment firm. The convergence of blockchain technology and artificial intelligence has led to the creation of peer-to-peer applications, and plays a crucial role in enabling businesses to leverage this combination. utilizes AI to build open services and automates transactions across industries such as supply chain, finance, and travel. Recently, the company developed AI tools to enhance trading products on decentralized exchanges.

The funding received will be utilized to strengthen decentralized machine learning, network infrastructure, and autonomous agents at, fostering further growth and innovation.

5. Sei Network 

Sei Network, a layer 1 blockchain built with the Cosmos SDK, raised $30 million in two funding rounds. Jump Crypto, Multicoin Capital, Flow Traders, Distributed Global, Bixin Ventures, and Hypersphere Ventures participated in the funding, bringing the protocol’s valuation to $800 million.

Sei Network’s testnet went live in March, and following the mainnet launch, more than 120 apps, including AMMs, orderbooks, launchpads, RWAs, DEXs, and more, will be deployed on the network. The team also plans to reward those who interact with the network through an airdrop.


Despite regulatory uncertainties, the DeFi sector continues to attract substantial venture capital investments, underscoring the importance of innovation and development. The funding rounds of these top five DeFi projects exemplify the enduring interest in blockchain technology, particularly within the DeFi space. These projects are contributing to the evolution of decentralized finance, offering solutions that enhance interoperability, scalability, staking, AI integration, and more, further solidifying the future of DeFi.

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