Venture Capitalists News Hubb
Advertisement Banner
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
Venture Capitalists News Hubb
No Result
View All Result
Home Venture Capital Funding

A Quiet Q3 for Crypto VC Investment

admin by admin
October 30, 2022
in Venture Capital Funding


  • Investments are still higher this year than the seven-year average
  • Blockchain development platform Tatum received $41.5 million to scale its tooling system

Crypto venture capital funding dropped in the third quarter.

Only $5.5 billion was invested in crypto startups from July through September, according to a new Galaxy report — marking the lowest quarter for investments this year. 

The figure is still higher than the seven-year quarterly average of $3.1 billion, which takes into account the significantly smaller investment universe in the early days of digital assets.

This week, the Cleo ecosystem, a protocol which supports mobile-first DeFi payments infrastructure, revealed that projects on its platform have secured over $77 million in funding. Company valuations were not revealed.

Among them, blockchain development platform Tatum secured the most significant amount — $41.5 million — and will be using the latest fundraise to integrate their tooling system with Web3 projects.

Interchain communication protocol Hyperlane also raised a significant amount of capital — $18.5 million from venture capital fund Variant to promote cross-chain communication and interoperable security. 

Regenerative finance project Loam, working to develop a data farming marketplace, raised $4 million. 

“I am immensely proud of our ecosystem projects in raising over $77 million across various venture rounds,” Rene Reinsberg, Celo co-founder and Celo Foundation President, said. “This demonstrates how bullish investor sentiment is in driving mainstream adoption of Web3 and real-world use cases for real people.” 

Other projects that received funding this week include Fun — a company building decentralized wallet and access control solutions on Odsy Network. 

Fun raised a total of $3.9 million in its pre-seed funding round led by Tinder co-founder Justin Mateen’s JAM Fund with an unknown valuation. 

Another pre-seed project which received venture capital interest this week was Web3 wallet Martian.

Martian, a wallet built on the Aptos blockchain, allows users to access decentralized applications on the network to buy, swap, swell tokens and collect NFTs. 

The company secured $3 million in a funding round led by Race Capital, with participation from FTX Ventures, Superscrypt, Jump Capital and Aptos. 

Other funding rounds this week include:

  • Web3 powered newsletter Paragraph lands $1.7 million from Binance Labs.
  • Singaporean based NFT wallet AWSt secures $1.7 million from early-stage venture fund and seed accelerator 500 Global.

Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


  • Bessie Liu

    Blockworks

    Reporter

    Bessie is a New York based crypto reporter who previously worked as a tech journalist for The Org. She completed her master’s degree in journalism at New York University after working as a management consultant for over two years. Bessie is originally from Melbourne, Australia.

    You can contact Bessie at [email protected]



Source link

Previous Post

India becoming a major manufacturing hub; our policies stable, predictable: PM Modi

Next Post

The Capital Quest | Egyptian fintech Money Fellows, Nigerian proptech SmallSmall raise VC funding

Next Post

The Capital Quest | Egyptian fintech Money Fellows, Nigerian proptech SmallSmall raise VC funding

Recommended

Late Queen Elizabeth II Sparks Influx of Meme Coins and NFTs

5 months ago

Paintings, praise, purchases–20th edition of Chitra Santhe kicks off in Bengaluru

3 weeks ago

The Capital Quest | Amicus, Kotak PE invest in Bharat Serums founder’s medical testing venture

3 months ago

Israeli startup landscape maps – Q3 2022 edition

5 months ago

Disney and Walmart Target Young Audiences in the Metaverse

4 months ago

The Capital Quest | Mirae Asset Credit Fund buys industrial asset from Prakhhyat Group

3 weeks ago

© 2022 Venture CapitaLists News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

© 2022 Venture Capitalists News Hubb All rights reserved.