April 19, 2024
Germany Surges in Global Blockchain Funding Share
Latest Cryptocurrency News

German Blockchain Sector Flourishes Despite Global Downturn: CVVC Report

In 2023, Germany will have achieved a historic milestone in terms of its share of global venture capital funding, even though the overall performance of the global blockchain market has seen a decline. This information is derived from a report published by Crypto Valley Venture Capital (CVVC).

In CVVC’s report titled “The German Blockchain Report 2023,” it is revealed that the blockchain sector in Germany has attracted a total investment of $355 million through 34 deals. According to CVVC, this marks a 3% year-over-year (YoY) increase in funding for the Western European nation.

Additionally, the report highlights that Germany has also reached its highest-ever percentage of global funding. Specifically, Germany has garnered 2.4% of the total global blockchain funding and participated in 2.5% of global blockchain deals.

Comparing these figures to 2022, where the country accounted for 0.9% of global funding and 1.9% of global deals, it is evident that Germany has seen an increase in both these percentages in 2023. Germany’s influence in the European blockchain ecosystem is also notable, as the report indicates that the country secured 9.4% of the funding within the European blockchain landscape and was involved in 10.3% of all European blockchain deals.

It’s worth noting that Germany’s progress in securing funding is noteworthy given the backdrop of a global decline in venture capital funding across all continents. According to the report, every continent experienced year-over-year decreases in funding, with a significant 62% decline in funding and a 44% decrease in the number of deals globally when compared to the previous four-quarter period.

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