Blockchain venture capital inflows fell sharply in October compared to the previous month. According to Cointelegraph Researchthe number of individual trades fell from 93 to 69 per month.
Cointelegraph Research Terminal VC databasewhich collects comprehensive details on deals, M&A activity, investors, crypto companies, funds and more, shows venture capital inflows plunged 48.6%, totaling $843.5 million in venture capital (VC) investments , down from $1.64 billion in September.
Big increase despite difficult market conditions
It’s not all bad news. Every day there are signs that there is still active interest in the blockchain industry from VCs. IN decentralized finance (DeFi) sector, Uniswap Labs — the team behind the largest decentralized exchange (DEX), Uniswap — secured $165 million in Series B round led by Polychain Capital, with participation from investors such as Andreessen Horowitz, Paradigm, SV Angel and Variant. The Series B funding round for the DeFi protocol brings Uniswap’s total valuation to $1.66 billion.
Blockchain development platform Tatum 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 ongoing Series C round. The total funding target for copper has not been publicly determined. Barclays Ventures and Tiger Global Management led Copper’s latest fundraising. The company has previously received backing from Alan Howard, Dawn Capital and Target Global.
Web3 continues to attract investor interest
The Web3 sector accounted for 42% of investor interest in October, with more than $350 million inflows. Investors track Web3 infrastructure companies. Chainsafe, a protocol implementation and cryptographic technology firm, has secured $18.75 million in Series A led by Round13.
Mobile game publisher Homa Games raised $100 million in Series B funding round led by Quadrille Capital and Headline. Other participants included participation from Northzone, Fabric Ventures, Bpifrance, Eurazeo and Singular. Homa has released mobile game titles such as Sky Roller, Aquarium Land and Z Defense.
Scaling startup Celestia was also on investors’ radars, closing the deal for $55 million continue to develop modular blockchain technology. The round was led by Bain Capital Crypto and Polychain Capital with participation from Spartan Group, FTX Ventures and Jump Crypto.
For a full analysis of the blockchain VC sector in August, see Cointelegraph Research’s monthly “Investor Insights” report. The research team breaks down the most important events that changed the market in the last month and the most critical data in various sectors of the industry, including venture capital.
The article draws from Cointelegraph Research Terminals Extensive Venture Capital Database. This article is for informational purposes only. It does not constitute investment advice, investment analysis or an invitation to buy or sell financial instruments. The document specifically does not serve as a substitute for individual investment or other advice.