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Germany blockchain funding rises by 3% despite market downturn.

Germany achieves record-high global venture capital funding share in 2023,

as stated in the Crypto Valley Venture Capital (CVVC) report.

Despite the downturn in the global blockchain market, Germany’s blockchain sector attracts $355 million investment across 34 deals.

This reflects a 3% year-over-year increase in funding for the country, according to CVVC.

State of German venture capital funding in 2023.

In addition, the report highlights Germany’s remarkable performance in terms of global funding share.

The country captured 2.4% of global blockchain funding and 2.5% of global deals,

marking a significant increase from the previous year’s figures of 0.9% in global funding and 1.9% in global deals.

Germany’s growing prominence in the global blockchain landscape is further emphasized by its share of funding within Europe.

The report reveals that Germany secured 9.4% of blockchain funding in the region and accounted for 10.3% of all blockchain deals in Europe.

Amidst a global downturn in venture capital funding, the report underscores Germany’s notable strides in securing funding.

Interestingly, the report reveals that funding declines were observed across all continents,

with all regions experiencing year-over-year decreases.

Globally, funding saw a significant 62% decline,

while deals decreased by 44% compared to the previous four-quarter period.

These findings highlight the resilience of Germany’s blockchain sector in attracting investment despite the challenging global funding landscape.

At the same time, a venture capital executive asserts that the decline in crypto funding stems from a lack of innovation within the industry.

This perspective suggests that the reduced funding levels may be a consequence of a perceived lack of groundbreaking and transformative ideas in the crypto space.

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