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Venture capital investment in Crypto, Web 3 start-ups soars

Funding in the space may increase 5-6 times next year with more global venture firms looking at the space. Clarity on regulation, towards which India has begun to move, will also boost investments.

December 23, 2021 / 02:27 PM IST

 Venture capital (VC) firms are eyeing investments in Indian startups that are carving themselves space in Web 3, which marks the next stage of the Internet’s evolution, and cryptocurrencies.

Startups that include crypto, blockchain – a kind of digital ledger -- and non-fungible tokens (NFTs), or units of non-interchangeable data stored on blockchain,  have raised $511 million this year, according to data provider Venture Intelligence.  

Most of the money has gone into crypto startups, mainly exchanges, which have raised as much as $448 million, an increase of nearly 19 times from last year, the data shows.  

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