# Covalent funding: rounds and investors

> Covalent has raised $3.6M across 1 round since 2024. Investors include Coinbase Ventures and YZi Labs. Every round with its source.

Source: https://millionrounds.com/company/covalent (Millionrounds; every figure on the page links to its filing or article)

Canada · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Covalent*

One round we have observed, with the 2 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Web3 & Crypto

Funding summary Updated 26 Oct 2026

**$3.6M** raised across 1 round since 2024, from 1 source

- **Latest round:** Venture, $3.6M Jun 2024
- **Investors:** 2

See who backed them

## The rounds

- **Jun 2024** Venture **$3.6M** [Coinbase Ventures](https://millionrounds.com/fund/coinbase) [YZi Labs](https://millionrounds.com/fund/yzi-labs) Source recorded

## Everyone who backed them

[Coinbase Ventures](https://millionrounds.com/fund/coinbase) Corporate VC **1** round

[YZi Labs](https://millionrounds.com/fund/yzi-labs) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=covalent).

## Quick answers about Covalent

### Who invested in Covalent?

Covalent's investors include Coinbase Ventures and YZi Labs.

### How much has Covalent raised?

Covalent has raised $3.6M across 1 round since 2024.

### When did Covalent last raise?

Covalent's most recent round was a Venture of $3.6M in Jun 2024.

### What was Covalent's biggest round?

Its most recent round, $3.6M in Jun 2024, is also its largest on record.

### Who backed Covalent first?

Covalent's first round on record, in Jun 2024, was backed by Coinbase Ventures and YZi Labs.

### What stage is Covalent at?

Covalent's latest named round is a Venture, in Jun 2024.

### Where is Covalent based?

Covalent is based in Canada.

## Companies like Covalent

In the same sector, and raised in the last eighteen months.

[**Tenor Labs** $5.0M · Jul 2026](https://millionrounds.com/company/tenor-labs)[**Luxxfolio** $1.1M · Jun 2026](https://millionrounds.com/company/luxxfolio)[**SPIRIT Blockchain Capital** $304K · Jun 2026](https://millionrounds.com/company/spirit-blockchain-capital)[**Parvis Invest** $2.2M · May 2026](https://millionrounds.com/company/parvis-invest)[**Uniblock** $7.5M · Mar 2026](https://millionrounds.com/company/uniblock)[**Cryptostar** $466K · Feb 2026](https://millionrounds.com/company/cryptostar)

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