Blockchain startups raised $822 million in 2019

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Outlier Ventures, a European venture platform reported that blockchain startup raised $822 million in 279 separate venture capital deals in the first half of 2019.

The report, released on 2nd July, and called “State of Blockchains Q2 2019,” indicates that 159 deals out of total 279 were seed stage ones, which shows that a sufficient number of enterprises have moved from proof of concepts in the industry, launching “fully developed open-source projects” instead, Cointelegraph reports.

With respect to this, Outlier mentioned JP Morgan, and Big Four auditor Ernst & Young (EY), who open-sourced codes enabling transactions on Ethereum (ETH) blockchain earlier this year.

According to Lawrence Lundy-Bryan, Partner and Head of Research at Outlier Ventures, the dynamics of venture capital investment in the space has somewhat declined. In a press release to Cointelegraph, Lundy-Bryan stated that the frequency of large VC raises in blockchain industry has “diminished” so far, as compared with the “outsized performance of the 2018 bull market.”

Cointelegraph previously reported that traditional VC investment in blockchain and crypto saw a threefold increase in the first three quarters of 2018, equivalent to $3.9 billion by the end of September 2018. In other words, this year, three billion more would need to be raised over the next three months to match 2018’s figures.

Founded in 2013, Outlier Ventures claims to be Euope’s first venture firm focused on blockchain technology. In June 2019, the company launched The Convergence Alliance, aiming to bring together a network of enterprises, startups, governments and regulators to collaborate on raising industry standards and launching new projects. The alliance members include German tech company SAP, Deutsche Telekom and Land Rover Jaguar.

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