Blockchain startups attracted most seed funding in 2017: Report

Blockchain technology enjoyed a significant boost in early stage global venture funding (VC) in 2017, according to a recent analysis by GlobalData.

Must Read

Top 5 cyber threats CIOs need to be aware of in APAC region

COVID-19 pandemic has significantly impacted the security of businesses and individuals worldwide. CIOs need to be aware of emerging challenges in the region.

ESDS awarded as India’s ‘Best Workplaces for Women 2020’

ESDS Software Solution said that it has been awarded as “India’s Best Workplaces for Women 2020” under the Top 50 category, certified by “Great Place to work” organization

Spanish insurer Admiral Seguros uses AI to assess vehicle damage

Admiral Seguros is using an AI solution, developed by the technology company Tractable, which evaluates vehicle damage with photos sent through a web application.

Blockchain technology enjoyed a significant boost in early stage global venture funding (VC) in 2017, according to a recent analysis by GlobalData. The company confirmed that Blockchain technology start-ups attracted the most seed funding at 40% last year, indicating a growing preference for the sector by venture firms. However, Blockchain investments were limited to only a few stages, as the segment is still developing its potential.

“Blockchain technology start-ups are currently an attractive proposition for venture funding as we see the segment achieving 40% seed and over 50% in Series A and B funding in 2017,” said Jitesh Nair, Deals Analyst at GlobalData.

“Part of the reason for this is that Blockchain technology is continuing to find wider applications outside the financial services. Nearly 50% of all Blockchain technology seed rounds in 2017 were targeted at Blockchain technology start-ups aimed at consumer, defence and the media space markets,” he said.

The company’s analysis on major technologies in the VC funding space also revealed that both the and Payment Technologies segments attracted similar levels of investment of over 60% in the growth stage and the lowest seed funding levels of 18%. With a 30% share of total global venture funding, came second in seed funding rounds recorded in 2017.

Digital business remains the only segment to have received venture funding at both ends of investment spectrum. Overall, the companies involved in digital businesses as well as robotics & drones have recorded a notable spread of funding across all three stages – early, growth and late stage.

“These two sectors managed to attract seed stage funding of 29% and 22% respectively in 2017, and also received late stage funding of 15% and 19% respectively, indicating significant scope for startups and continued growth opportunities for existing players,” said Nair.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Chiratae Ventures launches 7th edition of Innovators Program

Chiratae Ventures has launched their seventh edition of the Innovator’s Program which include a 5-week foundational initiative for the final set of selected startups through mentorship, customer connects and access to capital
- Advertisement -SAP Hana

Related Articles