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European DeFi Startups Saw 120% Increase in VC Investment in 2022: Data

According to a new study released by European investment firmRockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022 with $5.7 billion invested

European DeFi startups hit $1.2 billion in 2022, which is a 120% increase from the previous year’s investments of $534 million

Europe is also home to the highest number of crypto startups (3,977), according to the headquarters location.

However, it begins to fall behind the United States regarding the number of startups backed by VC investors, those with over a million dollars in funding and unicorns. 

Top global investors in European startups include Animoca Brands, Coinbase, Blockchain Capital and the Digital Currency Group.

In Europe, investment in startups which provide financial services made up more than half (52%) of all investments, with infrastructure and Web3 making up 32% and 16% respectively.

However, when compared with the year prior investment in financial service-based startups declined by 19% and infrastructure grew by 24%.

Europe’s growing prominence as a crypto-friendly region comes as regulators in the European Union finalize their highly-awaited MiCA regulations. 

(By SAVANNAH FORTIS)

DeFi Web3 Europe
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