Spiko and Nous Research Each Land $90 Million in Crypto VC Round

Two startups — Spiko and Nous Research — have each raised $90 million, according to a report by Crypto News, delivering one of the week's sharpest signals that venture capital is still writing large checks in crypto despite a selective funding environment.

The twin rounds, equal in size but aimed at different corners of the digital asset economy, put a combined $180 million of fresh capital into two companies operating at the intersection of crypto and broader technology markets. Crypto News first reported the two $90 million raises, which stand out for their identical size and their reach across two distinct investment theses.

Who raised what?

Spiko has secured $90 million, Crypto News reported. The company is one of two names at the center of this week's funding news, and its raise matches its counterpart's to the dollar.

Nous Research, the second name in the report, also raised $90 million. The identical figures suggest investors are placing comparably sized bets on both companies rather than concentrating capital in a single winner.

Together, the two deals represent $180 million in new funding flowing into the sector in a single news cycle — a figure that anchors the week's crypto venture activity.

Why do equal raises matter?

Matching $90 million checks are unusual. Venture rounds typically cluster unevenly, with one outlier deal dwarfing the rest of a cohort. When two companies raise identical amounts in the same news cycle, it points to a funding environment where investors are sizing opportunities across adjacent theses — crypto infrastructure on one side, and artificial intelligence on the other — with similar conviction.

Crypto News framed the two raises as a single story of crypto venture capital activity, a framing that itself carries information. Editors group deals when they tell a shared story about capital flows; the shared thread here is scale.

Each $90 million figure also clears a threshold that matters for coverage and for signaling. Rounds of that size place both companies among the more heavily funded names in their respective categories this cycle, based on the amounts reported.

What does this say about crypto VC?

The report arrives amid continued scrutiny of crypto venture funding. Headline rounds still get done — and get done at size, as the two $90 million figures demonstrate — but investors have become more discriminating about which segments of the market receive the largest checks.

Spiko and Nous Research now join the roster of companies that have cleared the $90 million mark, a level that typically buys years of runway and the ability to hire aggressively, expand product lines, or pursue partnerships from a position of capital strength. Crypto News did not disclose valuation terms, lead investors, or the intended use of proceeds for either round in its report.

The absence of disclosed valuations is itself notable. Companies raising $90 million without publicizing valuation terms are often keeping optionality open — either because the round was competitive and terms stayed private, or because the companies prefer to reveal pricing at a later stage.

What comes next?

With $180 million now committed across the two companies, the immediate question is deployment: how quickly Spiko and Nous Research convert fresh capital into product, customers, and market position. The next data point investors will watch is whether either company follows this raise with disclosed terms, a new investor syndicate, or an expanded round — any of which would sharpen the picture of what $90 million bought.

For now, the week's headline is simple: two companies, two checks, $90 million each — and a crypto venture market still capable of writing them.

Based on reporting by Crypto News.