VC Monthly Report：Financing Amount in Oct. was the Lowest in Past Two Years

Nov 03, 2022

Author: WuBlockchain Joey

According to Messari, there were 71 publicized investments in crypto VCs in October, down 26% MoM (97 projects in September 2022) and down 46% YoY (131 projects in October 2021). The category is as follows:

The crypto market saw a significant drop in funding across all fields in October, with the infrastructure field seeing the largest drop of approximately 45%.

Total funding in October was $850 million, down 46% MoM ($1.57 billion in September 2022) and down 74% YoY ($3.21 billion in October 2021). October was the lowest in the last two years in terms of both number and amount of funding. The top 10 funding rounds (excluding CeFi) are as follows.

Homa Games is a French game developer specializing in casual games that held a Game Jam in January in partnership with Sorare, a digital soccer NFT collection platform. The round was led by Quadrille Capital and Headline, with participation from Northzone, Fabric Ventures, Bpifrance, Eurazeo and Singular. With this funding, the company has raised $165 million in cumulative funding.

Tatum is focused on reducing time-to-market for blockchain application development. Its platform simplifies the process of blockchain operations with a single line of code and combines features such as smart contracts, fee/payment solutions, real-time alerts and exchange capabilities. The round raised $41.5 million in funding with participation from Octopus Ventures, Circle and others.

nxyz is a multi-chain data indexing platform that exposes real-time blockchain data through a low-latency API that it claims provides real-time blockchain data in less than 200 milliseconds. nxyz’s funding round was led by Paradigm, with participation from Coinbase, Sequoia Capital and others, and will be used to expand its team globally and add more blockchains.

Horizon Blockchain Games, a game developer whose GameFi products include the card game SkyWeaver and the video game Arcadeum. This round was led by Brevan Howard Digital and Morgan Creek Digital, with participation from traditional video game companies Ubisoft Entertainment SA and Take-Two Interactive Software.

Golden is developing a data platform, led by a16z with participation from Solana co-founder Raj Gokal and others. The funds will be used to build a data platform that uses Token rewards to encourage users to upload the right data and discourage incorrect data. The product is currently in beta and is expected to go live on the main site in the second quarter of 2023.

Stardust is committed to helping its developers build GameFi by charging game creators a monthly development fee and a Gas fee for blockchain transactions. This round was led by Framework Ventures with participation from Blockchain Capital and others.

ChainSafe is an infrastructure development company that has developed projects such as Lodestar, an ethereum PoS consensus client. This round was led by Round13, with participation from ConsenSys, HashKey Capital, NGC Ventures and others, and will be used to support the development and adoption of Web3 technology.

Shardeum is a public blockchain created by Nischal Shetty, founder of the exchange WazirX, and is an EVM-based Layer1 sharded blockchain network. Shardeum is currently valued at $199 million and this round was led by Jane Street, Struck Crypto, Spartan Group, Big Brain Holdings, DFG, Ghaf Capital Partners, Foresight Ventures and the funds will be used to Shardeum’s marketing efforts.

Pillow is dedicated to building a one-stop platform for storage, consumption and investment, with a focus on emerging markets such as Africa and Southeast Asia, and currently supports cryptocurrencies such as Bitcoin, Ether, Solana, Polygon, Axie Infinity, USDC and USDT, with plans to expand to over 50 assets in the coming months. This round was led by Accel and Quona Capital, with participation from Jump Capital and others.

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