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🌍 Africa's Blockchain Funding Dips 74%, But Deal Activity Signals Resilience 💡 In H1 2024, African blockchain funding plummeted from $135.4M to $34.7M, marking a 74% decline. Despite the downturn, Africa saw a 9% increase in the number of deals, highlighting a strong focus on… https://t.co/lTu1J1nMqh
🔥 African Blockchain Gets REKT, but New Crypto Punks Still Rising! 🌍 Funding for African blockchain ventures nosedived by 74% in H1 2024, crashing from $135.4M last year to just $34.7M. Despite the funding rug pull, deals in Africa actually pumped by 9%, showing major… https://t.co/t11cfLlKIi
🔥 WEB3 VC ROUNDUP: BAG SECURED, MACRO WHO? Web3 VCs ain't sweatin' the macro vibes! BITKRAFT Ventures' Carlos Pereira says, “In worse markets, it can be a better time to be a later-stage, Series A type investor.” Check these deets: - Mira bagged $9M for AI infrastructure.… https://t.co/eKK6GTQNbp
African blockchain venture funding experienced a significant decline in the first half of 2024, dropping by 74% from $135.4 million to $34.7 million, according to CV Labs' African Blockchain Report and associated Messari Screener. Despite the sharp decrease in funding, the number of blockchain deals in Africa increased by 9%, reaching an all-time high of 1.8% of global blockchain deals. This indicates a resilient market with continued interest in blockchain projects. In a related development, the crypto-AI startup Mira raised $9 million in seed funding to build decentralized AI infrastructure. The funding round was led by Bitkraft Ventures and Framework Ventures, with participation from Accel, Mechanism Capital, Folius Ventures, and AJ Scaramucci's SALT Fund. Mira's co-founders, Karan Sirdesai and Sidhartha Doddipalli, aim to leverage this investment to advance their innovative AI solutions.