Investments in Blockchain Projects Soar to USD 1.3 Billion Since Start of 2018

Blockchain churns out massive venture capital investments as cryptocurrency markets struggle.

by Kyzmoff
22 May • 2 min
In Markets
Blockchain has not lost its appeal to investors who keep coming in droves to support projects based on the technology behind cryptocurrencies, even though virtual coins have shed about half of their value recently. Venture capital investments in blockchain project have soared to USD 1.3 billion since to beginning of 2018, which is already double the amount for the entire 2017, according to TechCrunch data.
In addition to venture funding, projects in the sector raise money through Initial Coin Offerings (ICOs) that are currently under scrutiny amid allegations about their legitimacy and debates about their regulation.

Circle got USD 110 million this year

US payments company Circle is one of the many examples that lure investors in the sector. Its stable-coin project recently raised USD 110 million in its fifth funding round with Chinese mining equipment maker Bitmain as the leading investor. The first round of funding, back in 2013, generated USD 7 million, followed by USD 17 million in 2014 and USD 50 Million in 2015. The Series D, or fourth funding round, brought in USD 60 million from Goldman Sachs in 2016. Circle is rightfully a unicorn startup, currently valued at USD 2.9 billion. 

Source: TechCrunch

Circle is not alone in this prominent club, crypto exchange Coinbase and Robinhood, a mobile-first stock-trading platform which recently made a big push into cryptocurrency trading, already had a crypto-unicorn status, before Circle. Other projects rolled out this year include consumer blockchain applications platform Orbs that raised USD 118 million and hardware wallet maker Ledger which secured over USD 75 million of capital.