Germany’s Blockchain Funding Increases 3%
Germany has surpassed its all-time high in global venture capital funding share in 2023, according to a report by Crypto Valley Venture Capital. The country’s blockchain sector invested $355 million across 34 deals, a 3% YoY increase, despite a decline in global blockchain market performance. The report, titled “The German Blockchain Report 2023,” highlights the country’s significant role in the global blockchain market.
Germany has surpassed its record share in global funding for blockchain, attracting 2.4% of global funding and 2.5% of global deals in 2023, compared to 0.9% in 2022. In Europe, Germany secured 9.4% of Europe-based blockchain funding and 10.3% of all European blockchain deals. However, this progress comes amid global venture capital funding downturns, with a 62% decline in funding and a 44% decrease in deals compared to the previous four-quarter period. Germany’s progress in funding comes amid the global downturn in funding and deals.
(With inputs from Shikha Singh)
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