March 2023 Investment Overview

In the ever-evolving world of blockchain technology, it's essential to keep an eye on recent trends and investment patterns. March 2023 saw a total of  $644M of funds raised. $816.45M was raised in February, up from January's $574.99M. Almost half of the funds raised in March ($279M) went to the twenty-one companies listed below. While the amount invested in blockchain has experienced a slight dip since last month, the overall trajectory remains upward, demonstrating continued interest and confidence in this revolutionary tech.

One sector that is particularly captivating for investors is the combination of gaming and NFTs. The rise of decentralized gaming experiences and unique digital assets is revolutionizing how we interact and consume content online. Additionally, decentralized exchanges (DEXs) and DeFi solutions are garnering significant attention as they provide financial services with increased accessibility and security. Especially in light of the recent troubles with centralized banks.

Blockchain infrastructure projects are also among the top beneficiaries of investment, with a notable focus on developing scalable and secure networks for diverse use cases. Meanwhile, analytics companies are playing a crucial role in providing valuable insights into this ever-growing ecosystem.

Stay vigilant and informed as we continue to watch this space grow and flourish. Let's embrace these opportunities and harness blockchain technology's potential for a better future!

The following includes additional information about the most significant investments in blockchain and crypto businesses for March 2023. You can see the original articles or announcements by following the links. This is by-no-means a complete list but includes some of the most notable investments. 

Believer, a new approach to gaming, raises $55M from Lightspeed, A16Z. 

EiginLayer has raised $50M  in a Series A round led by Blockchain Capital.

Scroll, a zkEVM-based zkRollup on Ethereum that enables native compatibility for existing Ethereum applications and tools raised $50M from Polychain Capital, and Bain Crypto.

Fetch.ai raised $40 million in a token sale with Swiss Web3 Venture Capital and Market Maker DWF Labs as the lead investors.

CCP Games raised $40 million in a seed round led by a16z as well as Makers Fund, BITKRAFT Ventures, Kingsway Capital, Hashed, and Nexon.

Bitkeep, a decentralized multi-chain wallet raised $30 million in a Series B round led by Bitget.The crypto exchange Bitget is now the controlling stakeholder of the wallet provider.

Aavegotchi, a web3 game company raised $30 million in a multi-year token sale. 

The sale, which began in September 2020, ended Monday over concerns about the stability of the DAI stablecoin.

OP3N, a web3 social chat app raised $28 million in a series A round led by Animoca Brands as well as, Dragonfly Capital, Galaxy Digital, Republic Crypto, and Connect Ventures.

Kresus, a decentralized exchange raised $25 million in a series A round led by Liberty City Venture as well as Franklin Templeton, JetBlue Technology Ventures, and Marc Benioff.

Toku raised $20 million from Blockchain Capital for their token-based payroll and tax compliance solution. Other investors were Protocol Labs, GMJP, OrangeDAO, Orrick, Reverie, Quantstamp, Next Web Capital,  Nikil Viswanathan, and Joe Lau.

Auros Global raised $17 million from Vivienne Court for their algorithmic trading and market-making firm. 

Yuga Labs raised $16.5 million from Bit Digital Inc, Trovio, Epoch Capital, and Primal Capital for their NFT TwelveFold Auction platform. 

Proven raised $15.8 million in a seed round led by Framework Ventures for their zero-knowledge proof of solvency solution for crypto. Other investors include Balaji Srinivasan, Roger Chen, Ada Yeo, and Naval Ravikant.

Metacade raised $15 million in a token pre-sale for their community-driven GameFi platform.

DRESSX raised $15 million in a Series A round from Greenfield Capital, Slow Ventures, and Warner Music Group for their digital fashion platform. The Series A round will fund VR and AR integration across social and metaverse platforms.

Mauve raised $15 million from Brevan Howard and Coinbase, for their compliant DEX built on Violet. 

Metatime raised $11 million in a seed round from Yildiz Tekno GSYO and multiple undisclosed angel investors for their SocialFi, GameFi, and DEX platforms. 

DigiFT raised $10.5 million in a pre-Series A round led by Shanda Group for their decentralized exchange for asset-backed tokens. 

Few and Far raised $10.5 million from Pantera Capital for their NEAR NFT marketplace. Other investors are Cypher Capital, Huobi Ventures, Hypersphere Ventures, Metaweb, Mantis Partners, and  K5 Global.

Radix raised $10 million from DWF Labs, for their Layer 1 protocol focused on DeFi. 

Conflux raised $10 million in a strategic round led by DWF Labs for their PoW/PoS hybrid blockchain.

I would like to remind everyone that the following report is not intended as financial advice. It is crucial to treat this information as a starting point for your research and make decisions based on your evaluation with the help of a professional advisor. Investing in the blockchain world can be challenging, but knowledge is key. Empowering yourself with the right information allows you to make informed decisions and navigate the complexities of the market. Remember, always approach investing with a mindset of learning, evaluating, and growing.