RootData: DeSci Still in Early Stages, Only 2 Public Funding Rounds Totaling $11.2M This Year
Recently, Binance founder CZ (Changpeng Zhao) stated on X that he’s studying biotechnology articles and considering how to use crypto technology to accelerate research funding flows. Industry insiders believe that CZ, with his abundant time and resources, could bring new development opportunities to the DeSci sector if he enters the field. Currently, other crypto leaders including Vitalik Buterin and Coinbase founder Brian Armstrong have also expressed strong interest in this area.
Overall, the DeSci sector remains in its early stages. According to RootData, DeSci sector funding (as of November) reached $11.2 million in 2024, down 18.1% year-over-year. This year’s specific funding rounds include: DeSci financial layer protocol BIO Protocol completed a $6.2 million public funding round on August 21 and received strategic investment from Binance Labs on November 8, marking Binance Labs’ first investment in the DeSci sector; on September 25, a16z led AminoChain’s $5 million seed round. Additionally, Pfizer participated in VitaDAO’s investment round in January 2023.
In terms of funding scale, decentralized biotechnology protocol Molecule has raised a cumulative $13.7 million through three funding rounds, with investors including Shine Capital, Northpond Ventures, Sora Ventures, and over 50 other institutions. To date, total funding in the DeSci sector has exceeded $60 million.
Data shows clear stratification in DeSci project token market caps, with ResearchHub (RSC) leading at $496 million FDV, followed by HairDAO and VitaDAO at $105 million and $86.83 million respectively. The second tier, represented by ValleyDAO, GenomeFi, and Data Lake, has FDVs ranging from $15–30 million, showing a significant gap compared to leading projects. In September, Solana ecosystem project Pump.science introduced meme mechanisms for drug research predictions, while Arweave’s superparallel computer AO provided new solutions for scientific data storage. These innovative attempts may drive development in the DeSci sector.
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RootData is a Web3 asset discovery and tracking data platform that pioneers in encapsulating on-chain and off-chain data of Web3 assets, aiming to become a productivity tool for Web3 enthusiasts and investors with its high data structuring and readability.
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