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Funding capital in Web3 space doubles this year to over $1 billion

The top deals of this year include Polygon’s $450 million fundraise, $136 million of CoinDCX, NFT marketplaces Rario and Fancraze raising over $100 million and SaaS startup Coinshift’s fundraise.

June 30, 2022 / 12:21 PM IST

Funding capital in the Web3 space has doubled this year, in the first six months alone, according to data sourced from Venture Intelligence.

The sector has already raised over $1 billion, compared to $0.5 billion in the whole of 2021, signalling continued investor interest in the burgeoning sector, despite the unfavourable macro tailwinds and funding winter.

However, while early-stage deals have not slowed down, late-stage deals are taking more time, say experts tracking the space.

To put it in perspective, last year, during the same period (January-June), the Web3 segment saw $60 million being raised. Seed and Series A deals took center stage, data shows.