German Blockchain Sector Sees 3% YoY Growth with $355 Million Invested in 2023: Report
According to a report published by Crypto Valley Venture Capital (CV VC), the German blockchain sector demonstrated resilience, seeing a 3% YoY increase in funding, in contrast to the global blockchain ecosystem's downturn of over 50%.
Germany demonstrated remarkable development in the global landscape of blockchain venture funding, which witnessed a total investment of $14.6 billion across 1,367 deals in the past four quarters, as revealed in "The German Blockchain Report 2023" by Crypto Valley Venture Capital (CV VC).
The CV VC report examines venture funding activities over a year-long period from Q3 2022 to Q2 2023 in Germany and compares the data to global and Greater European venture funding trends.
According to the report, despite a 62% drop in overall funding and a 44% decrease in the number of deals globally, Germany managed to secure $355 million through 34 deals.
This marked a 3% increase compared to the previous four quarters when the country received $346 million across 47 deals.
Although, most venture capital activity remains concentrated in the United States, representing 48% of global funding and 41% of international deals, Asia and Europe contribute significantly to the remaining VC deals.
Asia contributes 28% of funding and 22% of deals and Europe contributes 17% of funding and 27% of deals.
With $8.8 billion raised across 614 venture deals in the past four quarters, Germany's performance accounts for 2.4% of global venture funding, 2.34% of global venture deals, 14% of European venture funding, and 8.6% of European venture deals.
Also, Berlin has firmly established itself as the "undisputed leader in Germany's blockchain story," consistently outperforming other cities regarding deal count and percentage of
Read more on cryptonews.com
