Report: 279 Blockchain Startups Raised $822 Million in 2019 to Date
Blockchain startups have raised a total of $822 million in the first half of 2019, according to an Outline Ventures research published on Tuesday, July 2.
The report titled “State of Blockchains Q2 2019” claims that the industry closed 279 funding rounds over the period, with more than half of those (159) at the seed stage. This indicates that new projects are still appearing in the industry, Outline Ventures claims.
The report also states that the focus has shifted from testing blockchain in closed environments to contributing open-source code. As an example, Outline Ventures cites major U.S. bank JP Morgan and a Big Four consulting company Ernst & Young, which have released an open-source code for private transactions on the Ethereum blockchain.
In the first three quarters of 2018, blockchain and crypto companies raised around $3.9 billion in VC investments. To match last year's figures, blockchain startups will have to raise roughly $3 billion more in Q3 2019.
One of the major funding rounds of H1 2019 was held by Bithumb. South Korea-based cryptocurrency exchange raised over $200 million in April.