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Startups register $2.6Billion in funds for Q1 of 2021

The $2.6billion figure surpasses the whole of 2020 by $300million

Data analysis firm, CB Insights, found that an estimated $2.6billion was raised by approximately 129 blockchain start-ups during Q1 2021.

The figure for 2021 eclipses that of 2020 by more than $300million as startups raised $2.3billion for the whole previous year through 341 deals. The figures show that venture capitalists are pouring money into this lucrative industry compared to the previous years. However, the surge in blockchain startups has certainly helped the rise in funding.

Several startups such as BlockFi Inc, Dapper Labs and Blockchain.com were very influential in the amount raised.

BlockFi

Blockfi - AIBC News

  • August 2020 - Raised $50million
  • In March 2021 - closed $350million Series D funding
  • This funding valued the company at $3billion
  • In total has raised an estimated $450million since starting

Dapper Labs

Dapper Labs - AIBC News

  • March 2021 - Closed $305million funding round
  • Valuation - $2.6billion

Blockchain.com

Blockchain.com - AIBC News

  • March 2021 - secured $300million in funding via its Series C funding round
  • Valuation - $5.2billion

Till now, the year 2018 recorded the most funds for blockchain and crypto startups with a total capital raise of $3.3billion. This was due to the bull-run that occurred in that year, cooling down in 2019 ($2.1billion). However, according to CB Insights data, blockchain and crypto start-ups are set to outperform 2018's figures with ease.

Q1 of 2021 also saw bitcoin's market cap escalate to $1trillion while the entire crypto market appears to be on course to break the $2 trillion barrier.

Source: news.bitcoin

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