The world is witnessing a massive cash crunch and the onset of funding winter has been news of worry for the startups and investors alike. However, the startups belonging to the Web3.0 space have not slowed down and witnessed funds flowing to them regardless of the grim situation.
According to a report by Venture Intelligence, crypto and Web3 startups have raised more than $1 billion in funding across 43 deals in just the first six months of 2022. Top deals included Polygon's $450 million fund raised by SoftBank, Tiger Global and Sequoia India in February, cryptocurrency exchange CoinDCX's $136 million fund raised in April and treasury management platform Coinshift's $15 million fund raised in May.
As many as five Venture Capitalists expressed their intention to invest in Web 3.0 while speaking to Entrepreneur India for its last edition.
"We will continue to invest in fintech, gaming and healthtech along with Web 3.0. In addition to these segments, we have also started to look into climate tech, especially climate + fintech opportunities," said Pearl Agarwal, founder, Eximus Ventures.
Similar views were echoed by Alok Goyal, Partner, Stellaris Venture, "We are seeing a strong deal flow in a number of different spaces that includes fintech, Web3.0, SaaS and creator economy."
This story is from the August 2022 edition of Entrepreneur magazine.
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This story is from the August 2022 edition of Entrepreneur magazine.
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