Ukraine in Web3 ecosystem: 80+ startups launched and over $1B raised
According to The 2022 Global Crypto Adoption Index, which is aimed to measure where the most people are putting the biggest share of their money into cryptocurrency, Ukraine is ranked third out of 146 countries due to grassroots cryptocurrency adoption. This make the level of everyday crypto use in Ukraine one of the highest worldwide.
Joint venture fund Hypra has prepared an overview of Ukrainian Web3 ecosystem. AIN.Capital publishes the key facts.
- In the last five years, more than 80 Web3 startups were launched in Ukraine. As the report shows, they have totally raised over $1 billion over the past 4 years.
- Such top global funds as a16z, Coinbase Ventures, Pantera Capital, Hypersphere, as well as Alameda that has recently filed for bankruptcy, are among the Ukrainian Web3 startups’ backers.
Ukrainian funds that invest in blockchain projects and crypto
There are more than 10 Ukrainian funds that supports blockchain and crypto projects. The most active are the following:
- ZBS Capital. Founded in 2017, the fund focuses on Web3 companies at seed stage. It has already made 82 investments since its launch.
- TA Ventures. It is an early-stage venture fund, backing companies in Europe and North America at Seed and Series A. TA Ventures has 6 crypro startups in its portfolio.
- Hypra. It is a $25 million Web3-oriented joint venture fund, investing in and building projects together with founders. To date, Hypra has invested in 4 crypro projects.
- SID Venture Partners. Founded in 2021, it is a €15 million fund that invests in early-stage technology startups. Currently, there are 3 crypto projects in its portfolio.
- Roosh Ventures. The fund is focused on the US and European markets and invests in technology startups at various stages, from seed to Series C. It has made 2 investments since its launch in 2021.
Ukraine on the global Web3 map
According to the Hypra report, there are more than 50 Ukrainian blockchain development companies that serve clients worldwide. Here is the top 10 by the company size:
Top 15 largest Ukrainian Web3 companies by valuation are the following:
Hypra was launched in March 2022 by Ukrainian investor Igor Pertsiya (ex-TA Ventures and CEX.io) and IT entrepreneur Dmitry Volkonsky (TRIONIKA). Besides investments, the venture fund offers ready-to-work blockchain development teams, helps companies reach a new level in operational processes, select an effective team, find the best tools for growth, and raises funding rounds.
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