• In July 2025, 97 projects announced they had received funding totaling $2.28 billion. 
• Investor attention was focused primarily on the blockchain services, CeFi and DeFi sectors. 

In July 2025, 97 Web3 and blockchain projects announced they had received funding. In total, they received $2.28 billion in investments. The editors of Incrypted analyzed these rounds in detail. 

The leader in terms of funding received in July was the pump.fun platform, which held a token sale for $500 million. It should be noted that it was completed in 12 minutes. The actual demand for the project token exceeded $2 billion. However, later the excitement around the asset began to decline, which led to a drop in its rate. More details:

The top 5 in terms of investment volume also included such projects as:

• $300 million — OSL Group. The Hong Kong crypto exchange announced that it has raised funds through the sale of shares. For more details, see the investment rounds section for the last week of July.

• $200 million — Mercurity Fintech. The blockchain-based fintech group has entered into a credit facility agreement with Solana Ventures to launch a digital asset management strategy on Solana. The company plans to accumulate a significant amount of coins, generate revenue through staking, validators, and DeFi protocols in the Solana ecosystem, and invest in projects related to tokenized assets.

• $135 million — Satsuma. The London-based AI company has raised funding to create a Bitcoin treasury. The firm has exceeded its target and expects to receive all funds within two weeks. The round was coordinated by Fortified (for international participants) and Dawson James Securities (for the US). The company has already launched a third, limited round for strategic investors from the US.

• $100 million — MEI Pharma. The project completed a private placement, during which it issued more than 29 million shares and warrants. The company will use the funds received to create a strategic Litecoin reserve.

Failure to disclose details

Note that this month there were not many projects that attracted funding, but did not disclose the details and conditions for receiving funds. In particular, these are: Perena, Crystal Intelligence, Shield, Aspecta, MemeCore, PlaysOut, Trends, waveX, WaveX, Stablr, Nubit, Bankr, Euler Finance. 

Artificial intelligence 

In July, AI projects also received investments. We selected five of the largest of them.

• $10 billion — xAI. Billionaire Elon Musk’s company, which develops various AI solutions, including the Grok chatbot, received these funds as part of a mixed round. This involves $5 billion in secured debt and $5 billion in strategic investments. At least part of the funding will be used to develop data centers. 

• $500 million — Ramp. A fintech startup specializing in the automation of corporate finances announced that it had raised funds in a Series E round. During the deal, the company was valued at $22.5 billion. The Iconiq fund, with the participation of Founders Fund and D1 Capital Partners, became the leader in terms of investment volume. The funds will be used to expand the staff. 

• $260 million — Hadrian. The provider of AI-powered manufacturing equipment for the aerospace and defense industries has closed a Series C round led by existing investors Founders Fund and Lux Capital. The investment is aimed at creating new manufacturing facilities, expanding R&D departments, and forming specialized teams focused on shipbuilding and naval defense manufacturing.

• $210 million — OpenEvidence. The project received these funds as part of a Series B round at a valuation of $3.5 billion. It was co-led by Google Ventures and Kleiner Perkins. The funds were also provided by current investor Sequoia Capital and several other counterparties. OpenEvidence is an application for cataloging and searching information using AI among academic and scientific papers on medicine. 

• $150 million — Vanta. The AI-powered security and compliance platform that helps companies streamline auditing and automate monitoring has closed a Series D round led by Wellington Management, with participation from Sequoia Capital, Craft Ventures, Y Combinator, Goldman Sachs, and JP Morgan. The round values the company at $4.15 billion. 

Dynamics during the month

The projects raised the most funds in the third week of this month — $670.9 million. Investors' attention was focused on the blockchain services and CeFi sectors. The leader among them was the pump.fun platform