Over the first quarter of 2022, $91M worth of capital entered the African blockchain ecosystem, followed by another $213M during Q2, totaling $304M.
In May, Seychelles-based cryptocurrency trading platform KuCoin raised $150 million as part of its pre-Series B funding round, bringing the company’s total valuation to $10 billion US dollars.
Subsequently, Mara, a Pan-African crypto exchange, raised $23 million, while Congolese and Nigerian startups Jambo and Afriex raised $30M and $10M, respectively.
The African Blockchain Report 2021, released as a joint project by Crypto Valley Venture Capital and Standard Bank, shows that between Q1 2021 and 2022, funding grew by 1,668% – rising from $5.1 million to $91 million.
Despite these striking numbers, Africa accounts for a measly 0.5% of the world’s total blockchain funding.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.