Venture capital inflows into blockchain dropped sharply in October compared to the previous month. Individual trades have dropped from 93 to 69 per month, according to Cointelegraph Research.
The Cointelegraph Research Terminal VC database, which compiles details on deals, M&A, investors, crypto companies, funds and more, shows that venture capital inflows plummeted 48.6% to $843.5 million in venture capital. investment (venture capital) compared to $1.64. billion in September.
Strong growth despite difficult market conditions
It’s not all bad news. There are daily signals that venture capitalists are still taking an active interest in the blockchain industry. In the decentralized finance (DeFi) sector, Uniswap Labs — the team behind the largest decentralized exchange (DEX) Uniswap — has received $165 million in a Series B round led by Polychain Capital, with participation from investors such as Andreessen Horowitz, Paradigm, SV. Angel and Variant. As part of the Series B funding round for the DeFi protocol, Uniswap’s total valuation was $1.66 billion.
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Blockchain development platform Tatum has raised $41.5 million from Evolution Equity Partners, Octopus Ventures, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle, and the founders of Bitpanda.
Meanwhile, crypto custodian Copper has raised $196 million in its current Series C round. The overall funding target for copper has not been publicly identified. Barclays Ventures and Tiger Global Management led the latest fundraiser for Copper. Previously, the company received support from Alan Howard, Dawn Capital and Target Global.
Web3 continues to attract investor interest
In October, the Web3 sector accounted for 42% of investor interest, generating more than $350 million. Investors are eyeing Web3 infrastructure companies. Chainsafe, a protocol implementation and crypto technology firm, has received $18.75M in Series A led by Round13.
Mobile game publisher Homa Games has raised $100 million in a Series B funding round led by Quadrille Capital and Headline. Other contributors included Northzone, Fabric Ventures, Bpifrance, Eurazeo, and Singular. Homa has published mobile games such as Sky Roller, Aquarium Land and Z Defense.
Scalable startup Celestia has also been in the spotlight for investors, having secured a $55 million deal to continue developing modular blockchain technology. The round was led by Bain Capital Crypto and Polychain Capital with participation from Spartan Group, FTX Ventures and Jump Crypto.
A full analysis of the blockchain venture sector for August can be found in the monthly “Investor Insights” report from Cointelegraph Research. The research team analyzes the main market events over the past month and the most important data in various sectors of the industry, including venture capital.
Article taken from Extensive venture capital database Cointelegraph Research Terminals. This article is for informational purposes only. It does not constitute investment advice, investment analysis, or an offer to buy or sell financial instruments. In particular, the document does not replace individual investments or other recommendations.