Crypto And Blockchain Firms Attract $24 Million This Week
Cryptocurrency and blockchain firms have raised $24 million in venture capital this week, according to PitchBook data.
This week's total investment was down from last week's $26 million, but it was still the highest since March, when $30 million was raised. The previous record was set in May with $27 million.
In the deal, investors backed six companies that raised money this week. The largest is Blockstack, which raised $11 million in Series A funding with participation from Andreessen Horowitz-led Union Square Ventures and Protocol Ventures. In addition to Blockstack, investors also invested in MakerDAO ($3 million raised), SONM ($2 million) and Zilliqa ($1 million).
Blockstack is a decentralized internet protocol aimed at creating an open source platform for applications built on blockchain technology. The company has been working on the product for more than three years and hopes to launch it early next year.
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