Exciting news from the world of Web3 startups! Five startups have recently collectively raised an astounding $45M ????!

Even in the face of a bear market, innovation haven't slowed down.

1️⃣ First up, Bengaluru-based startup, Pyor, has successfully raised $4M in seed funding led by Castle Island Ventures. Pyor aims to enhance decision-making infrastructure for digital assets, with a focus on providing high-fidelity data and insights, tailor-made for institutions. Their mission is to fill the gap in the $1 trillion market cap of digital assets by building effective data infrastructure.

2️⃣ Across the ocean in Italy, Reasoned Art, a Milan-based startup, closed a €1.4M Seed round to expand its unique Web3 digital art project, Monuverse, into the Korean market. Through the integration of physical and digital art using Web3 and NFTs, Monuverse aims to preserve and enhance cultural heritage in a participatory and engaging ecosystem.

3️⃣ The third Web3 startup making waves is Story Protocol, with a whopping $29.3M seed round led by Andreessen Horowitz's A16z Crypto. Story Protocol is developing a Web3 platform to revolutionize how narrative universes are created, which will enable creators to build a narrative story with ownership and incentive.

4️⃣ Airstack, a Web3 developer platform, has raised over $7M. Airstack facilitates developers to access and utilize cross-chain data using AI-backed natural language requests. It's making a significant impact in the crypto space and boasts over 200 developers on its platform.

5️⃣ The fifth player in this resilient Web3 startup lineup is AnotherBlock, a Swedish company that's breaking new ground by utilizing NFTs to sell slices of streaming royalties to music fans. They recently secured a €4M seed funding round led by Stride·vc, with Swedish House Mafia's Axwell joining the round as an investor. This comes as part of AnotherBlock's aim to enable more musicians to sell portions of their royalties, expanding the concept of digital ownership within the music industry.

Despite the turbulence in the market, these startups have shown resilience and innovation, harnessing the power of Web3 to create exciting and groundbreaking projects. This resilience serves as a clear indication of the potential of Web3 and its increasingly integral role in our digital future!

Navigating the complexity of Web3 development? Let’s chat! EtherCTO