European Web3 startups raised a record $5.7 billion in venture capital funding in 2022, according to a report by RockawayX.
For a dive into the data, and actionable insights & investment signal, be sure to read the full research.https://t.co/JLC8F4Weoj
— RockawayX (@Rockaway_X) March 22, 2023
For comparison, in 2021 this figure was $5 billion.
The investment cycle followed global trends, that is, it peaked in the second quarter of 2022 and declined sharply in the first quarter of 2023.
Experts note that the worse the situation on the market, the more investors join the game.
“There are already a lot of crypto startups in Europe and the best ecosystem for their development. If US capital is concentrated in Europe, then local companies will be able to raise financing at a later stage,” said RockawayX CEO Victor Fisher.
The fastest growing category was developer tools, scaling products, and first-tier blockchain networks.
The largest investment rounds were:
At the beginning of 2023, European investment dropped significantly. In January, venture capital inflows decreased by almost 91% compared to the same month last year.
Also, investors began to abandon centralized projects, especially after the collapse of FTX. Instead, they prefer to invest early in Web3, including the DEX.
Recall that in the period from March 11 to March 17, 2023, crypto funds recorded an outflow of funds for $95 million after a record $255 million a week earlier.
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