Blockchain VC Funding Halves In October Despite Some Strong Raises
Nov 29, 2022•1 min read
Although VC funding is still falling, Uniswap bucks the trend by raising $165 million in a Series B round.
Venture capital investments in blockchain fell dramatically in October compared to the prior month. Inflows of venture money into the blockchain industry fell significantly from September to October. Individual deals decreased from 93 to 69 every month.
1. Despite the challenging market conditions, large raises
From Evolution Equity Partners, Octopus Ventures, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle, and the creators of Bitpanda, blockchain development platform Tatum raised $41.5 million.
During this time, Copper, a cryptocurrency custodian, raised $196 million in its current Series C financing. The total financing goal for Copper has not been made public. The most recent fundraising for Copper was led by Barclays Ventures and Tiger Global Management. Prior investors in the company include Alan Howard, Dawn Capital, and Target Global.
2. Web3 continues to attract investor interest
With almost $350 million coming in, the Web3 industry accounted for 42% of investment interest in October. Web3 infrastructure firms are being looked at by investors. Chainsafe, a business specializing in cryptography and protocol development, received $18.75 million in a Series A led by Round13.
In a Series B investment round headed by Quadrille Capital and Headline, mobile game publisher Homa Games raised $100 million. Northzone, Fabric Ventures, Bpifrance, Eurazeo, and Singular Participation were among the additional participants. Games for mobile devices by Homa include Sky Roller, Aquarium Land, and Z Defense.
Investors were also keeping an eye on scaling startup Celestia, which just closed a $55 million agreement to keep developing modular blockchain technology.
GameFi.org is a one-stop destination for web3 gaming. We aim to build digital communities and manage virtual economies for mainstream adoption. GameFi.org offers a suite of solutions covering the entire games and gamified projects' lifecycle, following a vision of one digital platform, and one virtual identity requiring zero blockchain knowledge. Visit https://gamefi.org/ for more information.