FEB 2023 VC Investment Overview
February 2023 VC Investment Overview
February saw a significant increase in investments, with a total of $816.45M raised. January's amount was $574.99M. Blockchain infrastructure received the most funding, raising a total of $114M. This category has gained traction among investors, as blockchain technology provides a secure and decentralized platform for transactions and data storage.
Another sector that saw significant growth in February was gaming, which raised $98.7M, up from $22.4M in January. This increase in investment can be attributed to the growing popularity of blockchain-based games, which offer players unique features such as in-game asset ownership and decentralized marketplaces.
Other sectors that received notable investments in February include Defi, which raised $57.05M, and NFTs, which raised $31.3M. These categories also leverage blockchain technology to offer innovative solutions in the financial and digital art markets.
Several companies received significant investments in February, including Chain Reaction, which received $70M from Morgan Creek Digital to develop hardware to improve blockchain privacy. Taurus received $65M from Credit Suisse to build blockchain infrastructure. Crypto lender SALT raised $64.4M in a share sale to resume operations after a suspended acquisition in November.
Carbonplace, a UK carbon offset platform, raised $45M in seed funding. It has been called the SWIFT of the carbon credit transaction network. Their funding comes from BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS, banks with $9T assets under management. Terawulf, a crypto mining company, raised $32M in equity to restructure its debt and expand its operations.
Coincover, a digital asset protection company, raised $30M through Foundation Capital to build technology to prevent fraud and theft of crypto assets. Here Not There Labs' first product, TOWNS, has closed a $25.5 million Series A round led by A16z crypto. The social platform startup is building a WEB3 group chat protocol and app designed for online communities to create and own decentralized digital town squares. Finally, SIMBA CHAIN raised $30M from the US air force to help manage their supply chain.
Overall, the growth in investment in blockchain infrastructure and related sectors can be attributed to the increasing adoption of blockchain technology and its potential to disrupt traditional industries. Investors recognize the potential for blockchain to offer innovative solutions in various sectors, including finance, gaming, and supply chain management.
However, like any market, these trends can be influenced by factors such as regulatory changes, economic conditions, and shifts in investor sentiment. So, it is challenging to make a definitive prediction about the future of this trend, and this isn't financial advice.