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The phrase "of funding" is grammatically correct and commonly used in written English.
It is used to indicate the source or origin of funding for a particular project or activity. Example: The success of the new research project is largely dependent on the availability of funding from the government.
Exact(60)
Loss of funding (L.O.F).
Some may run out of funding.
GIPEC has no permanent source of funding.
Nov. 15 — Government runs out of funding!
"There's no alternative source of funding".
an infusion of funding.
"It's the climate of funding.
§ 964.325 Notice of funding availability.
§ 964.210 Notice of funding availability.
The level of funding has been pitiful".
Lack of funding and education remain barriers.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com