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JULY 2019
BLOCKCHAIN INFRASTRUCTURE
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
Summary of Key Markets
Notable Companies in the Sector
Recent News
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on July 17, 2019.
Blockchain Infrastructure Feed Summary
4
Blockchain Infrastructure > Feed Summary
Companies developing blockchain technologies such as blockchain network, smart contracts, etc to cater to enterprise
and consumer markets.
• Inclusions: Companies developing blockchain networks,
smart contracts, mining hardware/software, application
development platform to build applications based on
blockchains, middleware infrastructure solutions which
adding functionalities of an existing blockchain network,
and enabling solutions to maintain the ecosystem of
blockchain and its applications.
• Exclusions: Companies which develop blockchain
applications, payment services that accept
cryptocurrencies as a mode of payment but do not operate
on the blockchain, etc.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$1.8B
Funding
12
Mega
Companies
2531131
FundedCovered on
Tracxn
3
Unicorns
7
Soonicorns
31
Minicorns
7
IPO’d Cos
53
Late Stage Cos
4
14
Acquisitions
41
DeadPooled
2
Acquihired
Series A+ Cos
Hedera Hashgraph
(2018, Richardson, $124M)
Waves Platform
(2016, Moscow, $120M)
Bitfury
(2012, San Francisco, $175M)
Top Companies
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Investment Trend Summary
Summary of Funding Activity in Blockchain Infrastructure
5
$120M - Series C
Waves Platform (2016, Moscow, $120M)
$40M - Series B
Fantom (2018, Gangnam, $40M)
$80M - Series D
Bitfury (2012, San Francisco, $175M)
$35M - Series A
Conflux (2018, Singapore, $35M)
$62M - Series A
Algorand (2017, Boston, $66M)
$32M - Series B
Axoni (2016, New York City, $59M)
$50M - Series B
ThunderCore (2017, Sunnyvale, $50M)
$32M - Seed
Terra (2018, Seoul, $32M)
$45M - Series B
Oasis Labs (2018, Berkeley, $45M)
$30M - Series B
Chainalysis (2014, Manhattan, $53.6M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Blockchain Infrastructure > Feed Summary > Investment Trend Summary
Seed Digital Currency Group (#8), Kenetic (#4), Blockchain Capital (#3)
Series A/B Digital Currency Group (#4), Pantera Capital (#4), Accel (#3)
Series C+
Union Square Ventures (#1), Pantera Capital (#1), Armat Group
(#1)
Incubators 500 Startups (#6), Plug and Play Tech Center (#5), Boost VC (#5)
Other Notable
Investors
Arrington XRP Capital (#7), Polychain (#6), MetaStable Capital
(#6)
Debt Investors Galaxy Digital (#2), Macquarie Group (#1)
Most Active InvestorsRecent Investments
76 57
114
292
437
59
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 26 15 17 29 67 36
$1.1B
$284M
$90.2M
$57.4M
$37.2M
US
Europe
South
Korea
Israel
SEA
$ Funding
$277M
$201M
$80M
$174M
$255M
$653M
$475M
62
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Summary of exit outlook in Blockchain Infrastructure
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
500 Startups 2
Chain (2014, San Francisco, $44M)
Chain (2014, San Francisco, $44M)
RRE Ventures 2
Ripple (2012, San Francisco, $94.6M)
Chain (2014, San Francisco, $44M)
2020 Ventures 2
Ripple (2012, San Francisco, $94.6M)
Chain (2014, San Francisco, $44M)
Blockchain Capital 2
Bitfury (2012, San Francisco, $175M)
Chain (2014, San Francisco, $44M)
Digital Currency
Group
2
Hedera Hashgraph (2018, Richardson, $124M)
Chain (2014, San Francisco, $44M)
Mar 2019 Coinplay Acq by TRON
Mar 2019 Firmo Acq by eToro
Feb 2019 Neutrino Acq by Coinbase for $13.5M
Nov 2018 RSK Labs Acq by rifos.org
Sep 2018 Chain Acq by Lightyear for $500M
Jul 2015 Penta Security Acq by Liberty for $163M
May 2015 Bitcoin Brains Acq by BitNational for $2.1M
Blockchain Infrastructure > Feed Summary > Exit Outlook Summary
Digital Asset
Holdings
2 Hyperledger Project (Jun 2015), Blockstack (Oct 2015)
Synopsys 1 Elliptic (Jun 2015)
Coinbase 1 Neutrino (Feb 2019, $13.5M)
Entrust Datacard 1 nCipher (Feb 2019)
eToro 1 Firmo (Mar 2019)
Recent IPOs Top Acquisitions
Hancom Secure Nov 2001
Security solution for enterprises
IPO MCap: $45.2M
Blockchain Holding Jun 1998
Cryptocurrency mining hardware solutions
IPO MCap: $425k
SkyChain Technologies Aug 1996
Mining service provider
IPO MCap: -
BlockMint Feb 2019
Cryptocurrency mining software provider
IPO MCap: -
Tymlez Nov 2018
Blockchain-based enterprise solutions.
IPO MCap: $20.6M
InterBit Nov 2015
Blockchain-based application development
IPO MCap: $352k
Marathon Patent Group Jun 2015
Cryptocurrency mining company
IPO MCap: -
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Key Sub Sectors in Blockchain Infrastructure Sector
Summary of Key Markets
7
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Mining >
Software 60 $15.1M 2
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Blockchain Network
166 $325M 29
Application Development Platforms
324 $251M 31
Blockchain Network >
Finance 74 $257M 15
Middleware >
Sidechain 38 $384M 10
Enablers > Security >
Compliance and Risk Management 42 $69.6M 11
Mining >
Hardware 124 $186M 5
Enablers >
Security 43 $53.6M 11
Smart Contracts
109 $54.2M 9
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Blockchain Network
Companies offering protocols for building blockchain-
based solutions
240 73 $698M
Application Development Platforms
Companies which offer application development
platform on top of third-party blockchains
324 83 $407M
Mining
Companies that provide services & solutions for
mining in the blockchain ecosystem
185 17 $287M
Enablers
Companies offering solutions to maintain the
ecosystem of blockchain and its applications
196 39 $230M
Middleware
Companies offering infrastructure solutions which
adding functionalities of an existing...
77 23 $166M
Smart Contracts
Companies enabling digitized agreements on a public
ledger using blockchain technology
109 18 $24.7M
Blockchain Infrastructure > Feed Summary > Summary of Key Markets
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
List of Notable Companies in Blockchain Infrastructure
Notable Companies in the Sector
8
Note: *(Founded Year, Location, Total Funding)
Blockchain Infrastructure > Feed Summary > Notable Companies in the Sector
Public
Hancom Secure
(1999, Seongnam-si)*
Tymlez
(2016, The Hague)
Blockchain Holding
(2016)
InterBit
(2015, London)
Marathon Patent Group
(2013, Las Vegas)
BlockMint
(2018, Portland)
SkyChain Technologies
(1977, Vancouver)
Acquired
Chain
(2014, San Francisco, $44M)
Penta Security
(1997, Seoul, $8M)
Unicorns
Bitfury
(2012, San Francisco, $175M)
Hedera Hashgraph
(2018, Richardson, $124M)
Ripple
(2012, San Francisco, $94.6M)
Tracxn - Blockchain Infrastructure Startup Landscape
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
List of Notable Companies by Market in Blockchain Infrastructure
Notable Companies by Market (1/3)
10
Blockchain Infrastructure > Feed Summary > Notable Companies by Market
Blockchain Network
Blockchain Network
R3 (2013, New York City, $112M)
Consortium of financial enterprises aiming to
create digital ledger technology
Soonicorn. Stage: Series A
YES BANK, TIS, CLS Group and 12 Other Investors
Tymlez (2016, The Hague)
Blockchain-based enterprise solutions.
Stage: Public
Dominet Digital Corporation
Finance
Waves Platform (2016, Moscow, $120M)
Decentralized protocol for application development
& token management
Soonicorn. Stage: Series C
Dolfin, Blockchain R&I, BlockGrounds
Ripple (2012, San Francisco, $94.6M)
Open source payment protocol for cross border
money transfer.
Unicorn. Stage: Series B
Standard Chartered, SBI Holdings, Digital Ventures
and 36 Other Investors
Mining
Hardware
Bitfury (2012, San Francisco, $175M)
Provider for Bitcoin mining hardware
Unicorn. Stage: Series D
Korelya Capital, NAVER Corp, Macquarie Group and
23 Other Investors
Blockchain Holding (2016)
Cryptocurrency mining hardware solutions
Editor's Pick. Stage: Public
Marathon Patent Group (2013, Las Vegas)
Cryptocurrency mining company
Editor's Pick. Stage: Public
SkyChain Technologies (1977, Vancouver)
Mining service provider
Stage: Public
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
List of Notable Companies by Market in Blockchain Infrastructure
Notable Companies by Market (2/3)
11
Blockchain Infrastructure > Feed Summary > Notable Companies by Market
Mining
Software
Helium (2006, San Francisco, $53.8M)
Gateway for cryptocurrency mining
Soonicorn. Stage: Series C
Union Square Ventures, Multicoin Capital, Khosla
Ventures and 12 Other Investors
BlockMint (2018, Portland)
Cryptocurrency mining software provider
Stage: Public
Application Development Platforms
Application Development Platforms
Hedera Hashgraph (2018, Richardson, $124M)
Application development platform
Unicorn. Stage: Funded
Digital Currency Group, BlockTower, Team In
Residence and 7 Other Investors
Chain (2014, San Francisco, $44M)
Application development platform for financial
services industry
Soonicorn. Stage: Acquired
Fiserv, Nasdaq, Visa and 23 Other Investors
Origin Protocol (2017, San Francisco, $31.5M)
Blockchain platform for building decentralized
marketplaces
Soonicorn. Stage: Series A
Blockasset Ventures, Foundation Capital,
BlockTower and 26 Other Investors
InterBit (2015, London)
Blockchain-based application development
Stage: Public
Middleware
Sidechain
Blockstream (2014, San Francisco, $101M)
Blockchain development focused on sidechains
innovation
Soonicorn. Stage: Series B
G Lab, Horizons Ventures, Digital Garage and 22
Other Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
List of Notable Companies by Market in Blockchain Infrastructure
Notable Companies by Market (3/3)
12
Blockchain Infrastructure > Feed Summary > Notable Companies by Market
Enablers
Security
Chainalysis (2014, Manhattan, $53.6M)
Blockchain based payment fraud prevention &
compliance solutions
Soonicorn. Stage: Series B
Mitsubishi UFJ Financial Group, Sozo Ventures,
Accel and 8 Other Investors
Penta Security (1997, Seoul, $8M)
Web application firewall, database security and
IAM solution
Minicorn. Stage: Acquired
H&Q Asia Pacific, POSCO Capital, Hyundai Venture
Investment
Hancom Secure (1999, Seongnam-si)
Security solution for enterprises
Editor's Pick. Stage: Public
Lindeman Asia Investment
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
List of Notable Companies in Blockchain Infrastructure in China
Notable Companies in the Sector in China
13
Blockchain Infrastructure > Feed Summary > Notable Companies in the Sector in China
Acquired
Canaan
(2013, Beijing, $43.5M)
Unicorns
Bitmain
(2013, Beijing, $950M)
Jianan
(2013, Hangzhou)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Recent News in Blockchain Infrastructure Sector
Recent News
14
Blockchain Infrastructure > Feed Summary > Recent News
Jul 2019
R3 launches blockchain developer toolkit for business tokens on
Corda, SiliconAngle
Jul 2019
YAO Network: An Outlier Set to Disrupt the Blockchain Status Quo,
AiThority
Jul 2019
Crypto Exchange CoinFLEX to Launch Its First Initial Futures
Offering for Polkadot’s DOT Tokens, Coinspeaker
Jul 2019
Wall Street-Backed Blockchain Consortium R3 on Its IPO
Consideration, Coinspeaker
Jul 2019
Dapp Devs Can Now Pay Users’ Fees in Icon Network’s New Fee
Model, Finance Magnates
Jul 2019 YAO Network Makes BaaS 3.0 a Reality, PR Newswire
Jul 2019
CasperLabs Announces Node 0.5 and Gets Ready for Public DevNet,
TechStartups.com
Jul 2019
Blockpass Announces First-Use KYC Services to Hong Kong Brokers
in Partnership with 2GoTrade, ACN Newswire
Jul 2019
REPEAT - Interbit™ Announces a Product Strategy Update and
Contract Signed With Xinova, LLC, GlobeNewswire
Jul 2019
Coinsilium inks agreement to promote RSK network in Southeast
Asia, Proactive Investors
Jul 2019
YES Bank brings blockchain efficiency to Indian corporate debt
market, Finextra
Jul 2019
US-Based Provident Bank To Integrate BitFury’s Blockchain
Investigation Tool, BlockTribune
Key Recent News Key Recent News
Jul 2019
SEC Approves First Blockchain Firm for Regulation A+ Funding,
Finance Magnates
Jul 2019
Blockpass to Service Ultra IEO on New Tokinex Platform, ACN
Newswire
Jul 2019
Prime Factors Partners with nCipher Security to Deliver Simple,
Fast, Secure Data Protection Solution, PRWeb
Jul 2019 Near Raises $12.1M in Funding, FinSMEs
Jul 2019 Nebulous Raises $3.25M in Seed Funding, FinSMEs
Jul 2019
R3 and GoldGram Partner to Develop GGC GoldGramCoin Token for
R3’s Corda Blockchain Platform, Financial IT
Jul 2019
Nervos Begins Mainnet Preparation with Crypto Wallet Partnership,
AiThority
Jul 2019
Blox.io Becomes First Crypto Accounting Platform To Integrate
Zilliqa Blockchain, Fintech Finance
Jul 2019
Bitcoin Daily: Hyundai-Backed Co. Teams With CasperLabs For
Blockchain Project; Blockchain Marketplace Launches For DTC
Brands, pymnts.com
Jul 2019
BTG Pactual and Dalma Capital: Adopt Tezos for STOs,
FinTechInShorts
Jul 2019
TRON Launches ‘BitTorrent Speed’ With Native Token
Functionality, Coinspeaker
Jul 2019
Former Enercare Ceo John Macdonald Joins Parity As Chair Of The
Board, BetaKit
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
15
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club
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Investments ($M) and number of rounds in Blockchain Infrastructure; 2012-2019
Global Funding Trends (1/2)
17
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Blockchain Infrastructure > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 65% # of Rounds100% $ Funding
50% # of Rounds
101% $ Funding
$277M
$10M
$201M
$80M
$174M
$255M
$653M
$475M
0
10
20
30
40
50
60
70
80
$0k
$100M
$200M
$300M
$400M
$500M
$600M
$700M
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
$0K $2M $37M $9M $4M $16M $77M $27M
$0K
$8M $163M
$71M
$170M
$208M
$377M
$235M
$0K
$0K $0K $0K $0K $30M $200M $15M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
3 14 10 9 20 39 20
3 12
5
8
8
25 15
1 3 1
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
-
36
Total # of Rounds
18
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Blockchain Infrastructure; 2012-2019
Blockchain Infrastructure > Investment Trends > Global Funding Trends
5
17
7
8
19
41
26 123
$1.4M
$4.1M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
$8.0M
0
20
40
60
80
100
120
140
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.4M $6M $0.6M $0.3M $7.5M $5.5M $7.3M $4.1M
$0K
$277M
Total $ Invested
$120M
$123M
$50M
$130M
$224M
$495M
$206M
7
0
2
4
6
8
10
12
0
100000000
200000000
300000000
400000000
500000000
600000000
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
- - 5 2 3 5 10 4
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201919
Blockchain Infrastructure > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Blockchain Infrastructure
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 734M 63
New York City 227M 28
Moscow 120M 1
London 92M 9
Boston 70.3M 6
Manhattan 53.6M 5
Seoul 40M 4
Gangnam 40M 2
Tel Aviv 37.4M 7
Singapore 36.9M 9
Total Funding
66
33
9
10
12
5
4
2
# Rounds
$1.1B
$284M
$90.2M
$57.4M
$37.2M
$25.6M
$20M
$20M
US
Europe
South Korea
Israel
SEA
Canada
Cayman
Islands
Taiwan
Note: Excludes funding information of China companies
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201920
Trend of Average Deal Size ($M)
$1.1
$3.1
$1.0 $1.1 $1.2
$3.2
2012 2013 2014 2015 2016 2017 2018
Blockchain Infrastructure > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Blockchain Infrastructure; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$20K* $32M
$1.2M $107M
$1.5M $55.2M
$15M $120M
$55M
$20M
$11.1M
$1.4M
Series C+
Series B
Series A
Seed
Stage
$5.3
$16.6
$23.9
$29.0 $26.0
$30.0
$100.0
$2.7
$17.0
$4.0
$24.8 $30.3
$16.4
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Note: 189 companies with undisclosed funding amount are not included
21
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
22
40
27
7
5
No. of Companies
Blockchain Infrastructure > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Blockchain Infrastructure; as of Jul 2019
Distribution of companies by Funding Range
$9M
$147M
$578M
$447M
$632M
$ Investment
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Stage No. of Companies
Funding
Funnel
100%
22%
5%
2%
0%
22
Note: Numbers in the brackets show the count of companies
Time to raise
next round
4
20
53
253
1131
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
22% 2%
(18)
1%
(10)
0%
(2)
4%
(40)
74%
(836)
21% 6%
(14)
2%
(6)
0%
(1)
2%
(6)
76%
(193)
38% 19%
(10)
6%
(3)
- 4%
(2)
58%
(31)
20% 35%
(7)
5%
(1)
- - 80%
(16)
- 75%
(3)
- - - 50%
(2)
Blockchain Infrastructure > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Blockchain Infrastructure
Funding Funnel
12 Months
13 Months
29 Months
Investment backedBootstrapped
7
3
9
3
5
4
Soonicorns
Unicorns
Acquisitions
IPOs
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201923
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months (1/5)
LATE STAGE
$120M - Series C Dec 2018
Waves Platform (2016, Moscow, $120M)
Decentralized protocol for application development
& token management
Dolfin
$80M - Series D Nov 2018
Bitfury (2012, San Francisco, $175M)
Provider for Bitcoin mining hardware
Korelya Capital, NAVER Corp, Macquarie Group,
Armat Group, Jabre Capital, Foyer, Itech Capital,
MACSF, LIANGroup, Dentsu Innovation Partners,
Galaxy Capital Partners
$15M - Series C Jun 2019
Helium (2006, San Francisco, $53.8M)
Gateway for cryptocurrency mining
Union Square Ventures, Multicoin Capital, Khosla
Ventures, GV, FirstMark, Munich Re
EARLY STAGE
$62M - Series A Oct 2018
Algorand (2017, Boston, $66M)
PoS Blockchain protocol
Union Square Ventures, Pillar, China Merchants
Bank, Slow Ventures, Eterna Capital
$50M - Series B Feb 2019
ThunderCore (2017, Sunnyvale, $50M)
Decentralized platform for the deployment of dApps
Electric Capital, ZhenFund, Arrington XRP Capital,
SV Angel, Pantera Capital, Hashed, Huobi Global,
MetaStable Capital, FBG Capital
$45M - Series B Jul 2018
Oasis Labs (2018, Berkeley, $45M)
Decentralized cloud computing platform
Andreessen Horowitz, Accel, Binance, Data
Collective, Gaorong Capital, Electric Capital,
Foundation Capital, Polychain
EARLY STAGE
$40M - Series B Jun 2018
Fantom (2018, Gangnam, $40M)
DAG-based smart contracts
Signum Capital, 8 Decimal Capital, Arrington XRP
Capital, LinkVC, Nirvana Capital, JRR Crypto
$35M - Series A Dec 2018
Conflux (2018, Singapore, $35M)
Blockchain Protocol Layer
IMO Ventures, Sequoia Capital, F2Pool, Huobi,
Nirvana, Frees Fund, Shunwei Capital, Naval
Ravikant, Baidu Ventures, MetaStable Capital
$32M - Series B Aug 2018
Axoni (2016, New York City, $59M)
Blockchain solutions for capital markets
Andreessen Horowitz, Coatue, Y Combinator, Wells
Fargo, NEX, Digital Currency Group, JPMorgan,
Citigroup, FPrime Capital Partners, Franklin
Templeton Investments, Goldman Sachs Investment
Partners, Nyca, Goldman Sachs
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201924
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months (2/5)
EARLY STAGE
$30M - Series B Feb 2019
Chainalysis (2014, Manhattan, $53.6M)
Blockchain based payment fraud prevention &
compliance solutions
Accel, Benchmark
$28.5M - Series A Apr 2018
Origin Protocol (2017, San Francisco, $31.5M)
Blockchain platform for building decentralized
marketplaces
Blockasset Ventures, Foundation Capital,
BlockTower, Smart Contract, FBG Capital, Kenetic,
Hashed, Kamal Ravikant, Danhua Capital, Alexis
Ohanian, Gil Penchina, Steve Jang, Turing, Continue
Capital, 1kx, Spartan Group, PreAngel Fund, Beyond
Blocks, Garry Tan, Alexis Ohanian, Randall Kaplan,
Sora Ventures, Kindred Ventures, Cypher Capital
$25M - Series B Nov 2017
Blockstream (2014, San Francisco, $101M)
Blockchain development focused on sidechains
innovation
G Lab
EARLY STAGE
$22M - Series B Oct 2017
AION (2017, Toronto, $22M)
Inter-blockchain operability network
Nuco
$20M - Series B Apr 2019
Provenance (2018, San Francisco, $20M)
Public & distributed stakeholder blockchain for the
financial services industry
$20M - Series A Jan 2019
CasperLabs (2017, $20M)
Blockchain based platform for sidechain
development
$20M - Series A Aug 2018
DEXON (2018, Taipei, $20M)
Application development platform
IDG Capital
$18.9M - Series B May 2019
Alchemy (2018, San Francisco, $18.9M)
Platform for blockchain and DApps development
EARLY STAGE
$16M - Series A Apr 2018
Chainalysis (2014, Manhattan, $53.6M)
Blockchain based payment fraud prevention &
compliance solutions
Benchmark
$16M - Series A Apr 2019
Coda (2018, San Francisco, $16M)
Blockchain protocol for application development
Accomplice, Coinbase Ventures, Paradigm, General
Catalyst Partners, Polychain, Electric Capital
$16M - Series A Jun 2019
Fireblocks (2018, New York City, $16M)
Digital asset security platform
CyberStarts, Tenaya Capital, Eight Roads Ventures,
Swisscom, MState
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201925
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months (3/5)
EARLY STAGE
$15M - Series A Sep 2018
Spacemesh (2017, Herzliya, $18M)
Proof-of-Space-Time consensus protocol
cryptocurrency
Polychain, Paradigm Capital, MetaStable Capital,
Arrington XRP Capital, Danhua Capital, Jack Herrick,
Bain Capital, 1KX, Electric Capital, Collaborative
Fund, Slow Ventures, Dekrypt Capital, BRM Group,
gumi Cryptos, Gigi Levy-Weiss, IAngels, Coinbase
Ventures
$15M - Series A Feb 2019
CipherTrace (2016, Menlo Park, $18M)
Forensics and investigation tools for
Cryptocurrencies
Aspect Ventures, Galaxy Digital, WestWave Capital,
Neotribe
EARLY STAGE
$12.1M - Series A Jul 2019
NEAR (2018, San Francisco, $12.1M)
Application development platform
Accomplice, Electric Capital, MetaStable Capital,
Pantera Capital, A Capital Venture, Coinbase
Ventures, Xpring, Amplify Partners, Andrew Keys,
Multicoin Capital, IDEO CoLab, Scalar Capital, Naval
Ravikant
$10M - Series A May 2019
QED-it (2016, Tel Aviv, $10M)
Security platform for distributed ledgers
MizMaa Ventures, RGAX, Meron, Collider, Jovono,
Target Global, Ant Financial
$9.8M - Series A Mar 2019
Tendermint (2015, San Francisco, $9.8M)
Application development platform
Bain Capital, 1confirmation, Paradigm Capital
EARLY STAGE
$8.9M - Series B May 2018
Blocko (2014, Seongnam-si, $14M)
Blockchain development platform on cloud
Samsung Venture Investment, Daesung Venture
Investment, Wonik Investment Partners, Premier
Partners, POSCO Capital, POSCO, SparkLabs
$6M - Series B Apr 2019
Chainalysis (2014, Manhattan, $53.6M)
Blockchain based payment fraud prevention &
compliance solutions
Mitsubishi UFJ Financial Group, Sozo Ventures
$6M - Series A May 2019
Data Gumbo (2016, Houston, $9.3M)
Blockchain as a service platform
Saudi Aramco Energy Ventures, Equinor
$5.5M - Series A Jun 2019
Clause (2015, New York City, $10.5M)
Contract management solutions
Galaxy Digital, DocuSign, Seedcamp, Raptor Group,
Zach Weinberg, Nat Turner, Tom Gonser, Jonathan
Summers
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201926
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months (4/5)
EARLY STAGE
$5M - Series A May 2018
R3 (2013, New York City, $112M)
Consortium of financial enterprises aiming to create
digital ledger technology
CLS Group
$5M - Series A Jan 2018
Elliptic (2014, London, $11M)
Bitcoin's blockchain intelligence & risk management
company
Paladin Capital, Santander InnoVentures, KRW
Schindler, Digital Currency Group, Octopus Ventures
$4.2M - Series A Dec 2018
Clause (2015, New York City, $10.5M)
Contract management solutions
$4M - Series A Jan 2018
Elliptic (2014, London, $11M)
Bitcoin's blockchain intelligence & risk management
company
EARLY STAGE
$4M - Series B Nov 2018
Axoni (2016, New York City, $59M)
Blockchain solutions for capital markets
Hsbc
Series A Jun 2018
R3 (2013, New York City, $112M)
Consortium of financial enterprises aiming to create
digital ledger technology
TIS
SEED STAGE
$32M - Seed Aug 2018
Terra (2018, Seoul, $32M)
Decentralized financial infrastructure for payments
OKEX, Huobi, TransLink Capital, Polychain, Hashed,
FBG Capital, Kenetic, Arrington XRP Capital, 1kx,
Dunamu & Partners, Binance
$3M - Seed May 2018
Spacemesh (2017, Herzliya, $18M)
Proof-of-Space-Time consensus protocol
cryptocurrency
BRM Group, IAngels, Bancor Protocol
$3M - Seed May 2018
Witnet (2017, Madrid, $4.1M)
Decentralized oracle network for smart contracts
CounterPointe Ventures
$3M - Seed Mar 2018
CipherTrace (2016, Menlo Park, $18M)
Forensics and investigation tools for
Cryptocurrencies
Neotribe
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201927
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months (5/5)
SEED STAGE
$1.7M - Seed Jan 2019
TRM (2018, San Francisco, $1.7M)
Risk and compliance management solution for
crypto companies
Blockchain Capital, Tapas, Alumni Ventures Group,
The MBA Fund, Green D Ventures
$1.4M - Seed Dec 2017
Data Gumbo (2016, Houston, $9.3M)
Blockchain as a service platform
$1.1M - Seed Mar 2018
Witnet (2017, Madrid, $4.1M)
Decentralized oracle network for smart contracts
$220k - Seed Jan 2018
Dash (2015, Mexico City, $220k)
Anonymous transaction service provider
Seed May 2019
Terra (2018, Seoul, $32M)
Decentralized financial infrastructure for payments
LuneX
SEED STAGE
Seed Feb 2019
Terra (2018, Seoul, $32M)
Decentralized financial infrastructure for payments
Kakao Investment, Kakao Ventures
Seed Jun 2018
QED-it (2016, Tel Aviv, $10M)
Security platform for distributed ledgers
MizMaa Ventures
Seed Jun 2018
BlockRe (2017, New York City)
Risk and compliance management for crypto-assets
Plug and Play Tech Center
Seed Mar 2018
Zilliqa (2017, Singapore)
Public blockchain based on sharding technology
NGC
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201928
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months in China
Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019
Notable Investments in last 24 months in China
LATE STAGE
$560M - Series C Aug 2018
Bitmain (2013, Beijing, $950M)
Bitcoin miner manufacturer specializing in ASICs
EARLY STAGE
$340M - Series B Jul 2018
Bitmain (2013, Beijing, $950M)
Bitcoin miner manufacturer specializing in ASICs
Sequoia Capital, Coatue, EDBI
$234M - Series B Jun 2018
Fun Chain Technology (2016, Hangzhou,
$234M)
Blockchain-based solutions for enterprises
Xinhu Zhongbao, SDIC
$50M - Series A Sep 2017
Bitmain (2013, Beijing, $950M)
Bitcoin miner manufacturer specializing in ASICs
Sequoia Capital, IDG Capital, ING
$40M - Series A Sep 2018
Cocos-BCX (2017, Beijing, $40M)
App development platform for building
decentralized games
NGC, 500 Startups, Binance
EARLY STAGE
$30M - Series B Nov 2018
AERGO (2018, Hong Kong, $38.9M)
SQL-based smart contract protocol
Sequoia Capital, GBIC, NGC, Dekrypt Capital, JRR
Crypto, FBG Capital, Arrington XRP Capital, Block
Crafters Capital, Rockaway Capital
$28M - Series A Jul 2018
Nervos Network (2018, Hangzhou, $28M)
Suite of interoperable protocols for dApps
Polychain, Sequoia Capital, Bixin, imToken,
Blockchain Capital, Matrix Partners China, Ceyuan
Investment Consulting, FBG Capital, Multicoin
Capital, Dekrypt Capital, 1confirmation
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Most Active Investors (VC, PE) by Stage in Blockchain Infrastructure; Last 5 years (Jul 2014-Jul 2019)
Most Active VC & PE Investors
29
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Digital Currency Group (8 Investments)
Chainalysis, Blockstack, Horizen Labs
1
Kenetic(4 Investments)
Terra, TransitNet, Merkle Science
2
Blockchain Capital (3 Investments)
Blockstream, BlockCypher, TRM
3
KR1(3 Investments)
Enigma, Cosmos, Ethereum
4
Dunamu & Partners (3 Investments)
Terra, Band Protocol, CodeChain
5
Andreessen Horowitz (2 Investments)
dYdX, Chia Network
6
Canaan Partners(2 Investments)
SKALE Labs, Tari
7
Union Square Ventures(2 Investments)
Algorand, Blockstack
8
SV Angel (2 Investments)
Blockstack, Nebulous
9
AME Cloud Ventures(2 Investments)
Blockstream, BlockCypher
10
EARLY STAGE
Digital Currency Group (4 Investments)
Blockchain, Axoni, Elliptic
1
Pantera Capital(4 Investments)
ThunderCore, Chain, NEAR
2
Accel (3 Investments)
Chainalysis, Oasis Labs, KnCMiner
3
Andreessen Horowitz (3 Investments)
Axoni, Oasis Labs, TradeBlock
4
Khosla Ventures(3 Investments)
Helium, Chain, Synthetic Minds
5
Coinbase Ventures (3 Investments)
Spacemesh, Coda, NEAR
6
GV (2 Investments)
Blockchain, Helium
7
Foundation Capital (2 Investments)
Oasis Labs, Origin Protocol
8
SV Angel (2 Investments)
ThunderCore, Chain
9
RRE Ventures(2 Investments)
Ripple, Chain
10
LATE STAGE
Union Square Ventures
Helium
1
Pantera Capital
Cypherium
2
Armat Group
Bitfury
3
Korelya Capital
Bitfury
4
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201930
Blockchain Infrastructure > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Blockchain Infrastructure; Last 5 years (Jul 2014-Jul 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(6 Investments)
Chain, BlockCypher, Skry
1
Plug and Play Tech Center(5 Investments)
QED-it, Blockdaemon, Stellar
2
Boost VC(5 Investments)
Witnet, BlockCypher, SKALE Labs
3
Techstars(4 Investments)
Chainalysis, Loom Network, Transmute
4
The Hive(4 Investments)
Blockstream, Lightning Labs, Skry
5
Y Combinator(3 Investments)
Axoni, TradeBlock, Synthetic Minds
6
Entrepreneur First(2 Investments)
AZTEC protocol, Merkle Science
7
MState(2 Investments)
Fireblocks, Blockdaemon
8
Jerusalem Venture Partners
Valid Network
9
Fifth Era
Zcash Electric Coin Company
10
OTHER NOTABLE INVESTORS
Arrington XRP Capital(7 Investments)
ThunderCore, Fantom, Terra
1
Polychain(6 Investments)
Oasis Labs, Terra, Spacemesh
2
MetaStable Capital(6 Investments)
ThunderCore, Oasis Labs, Conflux
3
Electric Capital(5 Investments)
ThunderCore, Oasis Labs, Spacemesh
4
Multicoin Capital(5 Investments)
Helium, NEAR, dfuse
5
Danhua Capital(4 Investments)
Origin Protocol, Spacemesh, Chia Network
6
FBG Capital(4 Investments)
ThunderCore, Terra, Origin Protocol
7
INBlockchain(4 Investments)
Nebulous, Logos Network, Adrealm
8
CoinFund(3 Investments)
Kadena, The Graph, GEO Protocol
9
Wells Fargo(2 Investments)
R3, Axoni
10
DEBT INVESTORS
Galaxy Digital(2 Investments)
CipherTrace, Clause
1
Macquarie Group
Bitfury
2
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201931
Blockchain Infrastructure > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201932
Blockchain Infrastructure > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/3)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201933
Blockchain Infrastructure > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (3/3)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201934
Blockchain Infrastructure > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector
Some more Sector Reports you might want to check out
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Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
36
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Key Sub Sectors
37
Key Sub Sectors in Blockchain Infrastructure
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Blockchain Network
Companies offering protocols for building blockchain-based solutions
Waves Platform (2016, Moscow, $120M)
R3 (2013, New York City, $112M)
240 73 $698M
Application Development Platforms
Companies which offer application development platform on top of third-party blockchains
Hedera Hashgraph (2018, Richardson,
$124M)
ThunderCore (2017, Sunnyvale, $50M)
324 83 $407M
Mining
Companies that provide services & solutions for mining in the blockchain ecosystem
Bitfury (2012, San Francisco, $175M)
Helium (2006, San Francisco, $53.8M)
185 17 $287M
Enablers
Companies offering solutions to maintain the ecosystem of blockchain and its applications
Blockchain (2011, London, $70M)
Chainalysis (2014, Manhattan, $53.6M)
196 39 $230M
Middleware
Companies offering infrastructure solutions which adding functionalities of an existing
blockchain network
Blockstream (2014, San Francisco, $101M)
CasperLabs (2017, $20M)
77 23 $166M
Smart Contracts
Companies enabling digitized agreements on a public ledger using blockchain technology
Clause (2015, New York City, $10.5M)
Data Gumbo (2016, Houston, $9.3M)
109 18 $24.7M
Blockchain Infrastructure > Market Details > Key Sub Sectors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Detailed Sector Taxonomy (1/2)
38
Blockchain Infrastructure > Market Details > Detailed Sector Taxonomy
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Detailed Sector Taxonomy (2/2)
39
Blockchain Infrastructure > Market Details > Detailed Sector Taxonomy
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Application Development Platforms
Companies which offer application development platform on top of third-party blockchains
(Companies covered 324 | Funded 83 | Total Funding $407M)
$199M
(+$149M)
30
(+20)
ThunderCore
(2017, Sunnyvale, $50M)
2
(-)
Blockchain Network
Companies offering protocols for building blockchain-based solutions
(Companies covered 166 | Funded 52 | Total Funding $379M)
$251M
(+$137M)
25
(+16)
Algorand
(2017, Boston, $66M)
3
(-)
Blockchain Network > Finance
Companies offering blockchain protocols for the finance industry
(Companies covered 74 | Funded 21 | Total Funding $319M)
$198M
(+$121M)
14
(+10)
Waves Platform
(2016, Moscow, $120M)
4
(+3)
Enablers > Security > Compliance and Risk Management
Companies providing solutions for maintaining risk and compliance management for Blockchain
infrastructure
(Companies covered 42 | Funded 15 | Total Funding $75.5M)
$69.6M
(+$65.9M)
11
(+7)
Chainalysis
(2014, Manhattan, $53.6M)
5
(+4)
Enablers > Security
Companies which offer security solutions to the blockchain infrastructure
(Companies covered 43 | Funded 16 | Total Funding $61.8M)
$53.6M
(+$53.6M)
11
(+11)
Fireblocks
(2018, New York City, $16M)
6
(-1)
Mining > Hardware
Companies that provide blockchain mining hardware such as FPGA and ASIC machines
(Companies covered 124 | Funded 15 | Total Funding $233M)
$86M
(+$53M)
4
(+2)
Bitfury
(2012, San Francisco, $175M)
7
(-1)
Middleware > Sidechain
Companies enabling sidechain innovation for the blockchain protocols
(Companies covered 38 | Funded 14 | Total Funding $140M)
$64.4M
(+$9.4M)
7
(+6)
Blockstream
(2014, San Francisco, $101M)
40
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Blockchain Infrastructure in last 2 years (July 2017 - June 2019)
Blockchain Infrastructure > Market Details > Top Markets of Investment Activity
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201941
Top Markets of Investment Activity (2/2)
Blockchain Infrastructure > Market Details > Top Markets of Investment Activity
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Rank Market # Investments Key Investments
1
Blockchain Network
Companies offering protocols for building blockchain-based solutions
(Companies created 166 | Funded 52 | Total Funding $379M )
2
Oasis Labs (2018, Berkeley, $45M)
Conflux (2018, Singapore, $35M)
2
Application Development Platforms
Companies which offer application development platform on top of third-party blockchains
(Companies created 324 | Funded 83 | Total Funding $407M )
2
ThunderCore (2017, Sunnyvale, $50M)
Coda (2018, San Francisco, $16M)
3
Enablers > Security > Compliance and Risk Management
Companies providing solutions for maintaining risk and compliance management for Blockchain
infrastructure
(Companies created 42 | Funded 15 | Total Funding $75.5M )
2 Chainalysis (2014, Manhattan, $53.6M)
4
Enablers > Security
Companies which offer security solutions to the blockchain infrastructure
(Companies created 43 | Funded 16 | Total Funding $61.8M )
1 Synthetic Minds (2018, San Francisco,
$5.6M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
42
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (July 2017 - June 2019)
Blockchain Infrastructure > Market Details > Top Markets of Early Stage Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Enablers > Blockchain Explorer
Companies providing information and analysis related to the blocks which are mined
or added in the blockchain
(Companies covered 111 | Funded 8 | Total Funding $92.7M)
72 $0
(0)
0
(-)
Skry
(2014, Palo Alto, $1.3M)
43
Other Notable Markets
Other Notable Markets with high Entrepreneurial Activity in Blockchain Infrastructure in last 2 years (July 2017 - June 2019)
Blockchain Infrastructure > Market Details > Other Notable Markets
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Incubators Techstars (#2), 500 Startups (#2)
Seed Digital Currency Group (#2), INBlockchain (#2)
Series A/B Pantera Capital (#3), Electric Capital (#3)
Series C+
Coinplay Mar - 2019
Acq by TRON
Chain Sep - 2018
Acq by Lightyear for $500M
$12.1M - Series A
NEAR (2018, San Francisco, $12.1M)
Series A
Finboot (2016, Barcelona)
$18.9M - Series B
Alchemy (2018, San Francisco, $18.9M)
$16M - Series A
Coda (2018, San Francisco, $16M)
Seed
Blockdaemon (2017, Brooklyn, $3.8M)
$9.8M - Series A
Tendermint (2015, San Francisco,
$9.8M)
Seed
Computable Labs (2017, San
Francisco)
$50M - Series B
ThunderCore (2017, Sunnyvale,
$50M)
$750k - Seed
Pocket Network (2018, Tampa,
$750k)
Jul 2019
REPEAT - Interbit™ Announces a Product Strategy Update
and Contract Signed With Xinova, LLC, GlobeNewswire
Jul 2019
SEC Approves First Blockchain Firm for Regulation A+
Funding, Finance Magnates
Jul 2019 Near Raises $12.1M in Funding, FinSMEs
Jul 2019
Former Enercare Ceo John Macdonald Joins Parity As Chair
Of The Board, BetaKit
Jul 2019
Crowd Machine Celebrates Growth of Crowd Academy with
New Enhancements, PR Newswire
Jul 2019
YGGDRASH TestNet Beta Release Creates Movements in the
Crypto Market, Newswire
Jul 2019
Finboot Secured an Investment from Repsol and Blockchain
Solution Contract, Financial IT
Jun 2019
LG Uses Kakao’s Enterprise-based Blockchain dApp
Ecosystem, Coinspeaker
Jun 2019
Kakao launches blockchain platform for enterprise service,
Korea Herald
Jun 2019
Celer and Wyre Partner for Zero Fee Mobile dApps with
Liquidity, Business Wire
Jun 2019
Metaverse Capital set to play leading role in Elixxir's
payment and communications network, Proactive Investors
Jun 2019
EOS Blockchain Developer Block.one Purchased Voice.com
Domain Name For $30M USD, BlockTribune
Apr 2019
Coda Protocol raises $16M to build out its tiny blockchain,
SiliconAngle
News
4
4
18
83
324
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Application Development Platforms: Market Factsheet
44
Exits
Most Active Investors
Recent InvestmentsCompanies which offer
application development platform
on top of third-party blockchains
Hedera Hashgraph
(2018, Richardson, $124M)
ThunderCore
(2017, Sunnyvale, $50M)
Chain
(2014, San Francisco, $44M)
Origin Protocol
(2017, San Francisco, $31.5M)
DEXON
(2018, Taipei, $20M)
Top Companies
#1 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
Companies Created 324 | Funded 83 | Total Funding $407M
0
20
40
$0k
$100M
$200M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Application Development Platforms
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201945
Application Development Platforms: Top Companies
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
#1 Top Markets of Investment Activity
Market: Application Development Platforms (1/4)
Analyst’s Pick
Hedera Hashgraph (2018, Richardson, $124M)
Application development platform
Unicorn. Stage: Funded
Digital Currency Group, BlockTower, Team In
Residence and 7 Other Investors
ThunderCore (2017, Sunnyvale, $50M)
Decentralized platform for the deployment of
dApps
Minicorn. Stage: Series B
Electric Capital, ZhenFund, Arrington XRP Capital
and 17 Other Investors
Chain (2014, San Francisco, $44M)
Application development platform for financial
services industry
Soonicorn. Stage: Acquired
Fiserv, Nasdaq, Visa and 23 Other Investors
Origin Protocol (2017, San Francisco, $31.5M)
Blockchain platform for building decentralized
marketplaces
Soonicorn. Stage: Series A
Blockasset Ventures, Foundation Capital,
BlockTower and 26 Other Investors
Analyst’s Pick
DEXON (2018, Taipei, $20M)
Application development platform
Minicorn. Stage: Series A
IDG Capital
Alchemy (2018, San Francisco, $18.9M)
Platform for blockchain and DApps development
Minicorn. Stage: Series B
Coda (2018, San Francisco, $16M)
Blockchain protocol for application development
Minicorn. Stage: Series A
Accomplice, Coinbase Ventures, Paradigm and 3
Other Investors
Blocko (2014, Seongnam-si, $14M)
Blockchain development platform on cloud
Minicorn. Stage: Series B
Samsung Venture Investment, Daesung Venture
Investment, Wonik Investment Partners and 5
Other Investors
Analyst’s Pick
NEAR (2018, San Francisco, $12.1M)
Application development platform
Minicorn. Stage: Series A
Accomplice, Electric Capital, MetaStable Capital and
11 Other Investors
Tendermint (2015, San Francisco, $9.8M)
Application development platform
Minicorn. Stage: Series A
Bain Capital, 1confirmation, Paradigm Capital
Blockstack (2015, New York City, $6.8M)
blockchain application development platform
Editor's Pick. Stage: Series A
Union Square Ventures, SV Angel, High Line
Venture Partners and 19 Other Investors
PDX Blockchain (2015, $4.4M)
Application development platform
Editor's Pick. Stage: Seed
Lenovo Venture Capital, Kunzhong Capital
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201946
Application Development Platforms: Top Companies
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
#1 Top Markets of Investment Activity
Market: Application Development Platforms (2/4)
Analyst’s Pick
Blockdaemon (2017, Brooklyn, $3.8M)
Blockchain deployment solution
Editor's Pick. Stage: Seed
Lerer Hippeau Ventures, BoldStart Ventures,
MState and 7 Other Investors
BlockCypher (2013, Redwood City, $3.5M)
Cloud-optimized full blockchain nodes
Minicorn. Stage: Seed
Fenox Venture Capital, Upside Partnership, AME
Cloud Ventures and 14 Other Investors
Band Protocol (2017, Tortola, $3M)
Application development platform for building
token-curated communities
Editor's Pick. Stage: Seed
Sequoia Capital, Dunamu & Partners
Orb (2014, Tokyo, $2.3M)
Community cryptocurrency platform for businesses
Editor's Pick. Stage: Seed
SBI Holdings, Adways, Monex Ventures and 2 Other
Investors
Analyst’s Pick
Userfeeds.io (2016, Warsaw, $450k)
The Content Ranking System for Blockchain
Communities.
Editor's Pick. Stage: Seed
Adrealm (2018, Singapore)
Application development platform for the
advertising industry
Editor's Pick. Stage: Seed
INBlockchain, Bo Shen, Jian Sun, Block Crafters
Capital
AI Crypto (2018, Singapore)
AI-based decentralized economy for the
development of the AI industries
Editor's Pick. Stage: Unfunded
Alpha Fintech (2011, Dublin)
Omnichannel payment solution access platform
Editor's Pick. Stage: Unfunded
Bcoin (2015, San Francisco)
Application development platform
Editor's Pick. Stage: Funded
Digital Finance Group
Analyst’s Pick
BetProtocol (2018, Sintra)
Blockchain-based betting solutions
Editor's Pick. Stage: Funded
Shilling Capital
Blk Technologies (2017, London)
Enterprise blockchain Middleware
Editor's Pick. Stage: Unfunded
BlockCluster (2018, San Mateo)
Application development platform
Editor's Pick. Stage: Unfunded
Blocknative (2018, San Francisco)
DApp development platform
Editor's Pick. Stage: Funded
Foundry Group, Overtly Covert
Cartesi (2018, Taipei)
Application development platform
Editor's Pick. Stage: Seed
Chinaccelerator
Catalyst Protocol (2018, London)
Decentralized app development layer focused on
distribution of content
Editor's Pick. Stage: Unfunded
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201947
Application Development Platforms: Top Companies
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
#1 Top Markets of Investment Activity
Market: Application Development Platforms (3/4)
Analyst’s Pick
Celer Network (2018, Mountain View)
Application development platform
Editor's Pick. Stage: Funded
Pantera Capital, NGC, 500 Startups and 4 Other
Investors
Chainstack (2018, Singapore)
Application developement platform
Editor's Pick. Stage: Unfunded
Circularise (2016, The Hague)
Blockchain-based solution to trace raw materials
Editor's Pick. Stage: Unfunded
Clovyr (2018, New York City)
Application development platform
Editor's Pick. Stage: Unfunded
Coinweb (2018, London)
Platform for connecting multiple blockchains
Editor's Pick. Stage: Unfunded
CSE30 (2018, Singapore)
Blockchain based application development platform
Editor's Pick. Stage: Unfunded
Analyst’s Pick
DNotes Global (2014, Chicago)
Application development platform
Editor's Pick. Stage: Unfunded
EOS42 (2018, London)
Blockchain based EOS mainnet
Editor's Pick. Stage: Unfunded
Fintech Server (2017, Braga)
Application development platform
Editor's Pick. Stage: Funded
Cloud Money Ventures
Huobi Cloud (2018, Singapore)
Development platform for digital asset exchange
Editor's Pick. Stage: Unfunded
Hydrogen (2018, New York City)
APIs for building fintech applications
Editor's Pick. Stage: Seed
SixThirty, AlphaCoin Fund, MiddleGame Ventures,
Route 66 Ventures
Jelurida (2016, Lugano)
Application development platform
Editor's Pick. Stage: Unfunded
Analyst’s Pick
Kaleido (2017, Raleigh)
Blockchain business cloud to create blockchain
networks
Editor's Pick. Stage: Unfunded
Katallassos (2018, Zug)
Application development platform
Editor's Pick. Stage: Unfunded
Komodo (2016, Wakefield)
Decentralized platform for blockchain development
and ICO launch
Editor's Pick. Stage: Funded
Blockchain R&I
KrypC Technologies (2016, Bangalore)
Full stack Blockchain solution
Editor's Pick. Stage: Unfunded
LedgerDomain (2016, Las Vegas)
Application development platform
Editor's Pick. Stage: Unfunded
Mobilechain (2018, Netanya)
Blockchain platform for mobile apps
Editor's Pick. Stage: Funded
Blocore
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201948
Application Development Platforms: Top Companies
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
#1 Top Markets of Investment Activity
Market: Application Development Platforms (4/4)
Analyst’s Pick
nOS (2018, Amsterdam)
Virtual operating system
Editor's Pick. Stage: Funded
Ledger Capital
PDX (2015)
Blockchain infrastructure as a service
Editor's Pick. Stage: Series A
Lenovo Venture Capital, Kunzhong Capital, Pagoda
Investment and 9 Other Investors
Portis (2018, Tel Aviv)
Application development platform
Editor's Pick. Stage: Funded
F2 Capital
Slingr (2011, Denver)
App Builder Platform
Editor's Pick. Stage: Funded
SpaceChain (2017, Singapore)
Decentralized satellite network
Editor's Pick. Stage: Unfunded
Splend (2016, Palo Alto)
Application development platform
Editor's Pick. Stage: Unfunded
Analyst’s Pick
Stratis Platform (2016, London)
Blockchain development platform
Editor's Pick. Stage: Funded
BlockGrounds, Blockchain R&I
Swipe (2018, Sao Paulo)
Financial application development platform
Editor's Pick. Stage: Unfunded
Tari (2017, Oakland)
Blockchain protocol for digital assets built on
Monero
Editor's Pick. Stage: Seed
Canaan Partners, Applied Crypto Ventures, Bee
Partners and 8 Other Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
49
Application Development Platforms: Leaderboard
Blockchain Infrastructure > Market Details > Market: Application Development Platforms
#1 Top Markets of Investment Activity
Better than Market Average
Market: Application Development Platforms
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Fetch.AI 2017 Cambridge Series A $15M 2 - - - 4 9.6k - - - - - 7.5k 359%
4.7 Chain 2014
San
Francisco
Acquired $44M 4 - - - - 280 - - - - - 74 36%
4.6
Origin
Protocol
2017
San
Francisco
Series A $31.5M 2 5 5 - 4 14.5k 300 2 - - - 521 4%
4.3
Hedera
Hashgraph
2018 Richardson Funded $124M - 5 5 - 4 30.4k 3k 27 - - - 2.3k 8%
4.1 BlockCypher 2013
Redwood
City
Seed $3.5M 2 - - - - 7.3k - - - - - 170 2%
4.1
Stratis
Platform
2016 London Funded - 1 5 5 - - 138k 11k 185 1 4 2% 752 1%
4.1 Blockstack 2015
New York
City
Series A $6.8M 3 - - - - 301 - - 1 - - 8 3%
4.0
Parity
Technologies
2015 London Funded - 1 5 - - 3 30.3k - - 1 - - 1.6k 5%
4.0 Stratumn 2015 Paris Series A $9.7M 3 - - - - 1.8k - - - - - 42 2%
3.8
Blockdaemo
n
2017 Brooklyn Seed $3.8M 3 - - - 3 1.1k - - - - - 196 23%
3.8
ThunderCor
e
2017 Sunnyvale Series B $50M 1 5 - - 3 7.8k - - - - - - -
3.7 Komodo 2016 Wakefield Funded - 1 - 4 - 2 98.1k 3k 77 1 - - 3.3k 3%
3.7 BlockMason 2016
George
Town
Unfunded - - - 5 - 4 11k 8k 123 - 6 5% 993 10%
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Incubators Pillar (#1), Fintech71 (#1)
Seed KR1 (#3), Multicoin Capital (#2)
Series A/B MetaStable Capital (#2), Arrington XRP Capital (#2)
Series C+
Tymlez Nov - 2018
IPO'd on ASX
RSK Labs Nov - 2018
Acq by rifos.org
$3.5M - Seed
dfuse (2018, Montreal, $3.5M)
$2.5M - Seed
The Graph (2004, San Francisco,
$2.5M)
$35M - Series A
Conflux (2018, Singapore, $35M)
$6M - Series A
Dispatch (2017, San Francisco, $18M)
$62M - Series A
Algorand (2017, Boston, $66M)
Seed
NULS (2017, San Jose)
$15M - Series A
Spacemesh (2017, Herzliya, $18M)
Seed
XCHNG (2017, George Town)
Seed
DREP Foundation (2017, Singapore)
$45M - Series B
Oasis Labs (2018, Berkeley, $45M)
Jul 2019
R3 launches blockchain developer toolkit for business tokens
on Corda, SiliconAngle
Jul 2019
YAO Network: An Outlier Set to Disrupt the Blockchain
Status Quo, AiThority
Jul 2019
Wall Street-Backed Blockchain Consortium R3 on Its IPO
Consideration, Coinspeaker
Jul 2019
Dapp Devs Can Now Pay Users’ Fees in Icon Network’s New
Fee Model, Finance Magnates
Jul 2019 YAO Network Makes BaaS 3.0 a Reality, PR Newswire
Jul 2019
Coinsilium inks agreement to promote RSK network in
Southeast Asia, Proactive Investors
Jul 2019
YES Bank brings blockchain efficiency to Indian corporate
debt market, Finextra
Jul 2019
R3 and GoldGram Partner to Develop GGC GoldGramCoin
Token for R3’s Corda Blockchain Platform, Financial IT
Jul 2019
Blox.io Becomes First Crypto Accounting Platform To
Integrate Zilliqa Blockchain, Fintech Finance
Jul 2019
BTG Pactual and Dalma Capital: Adopt Tezos for STOs,
FinTechInShorts
Jul 2019
Tokensoft Platform Now Supporting Security Tokens on the
Tezos Blockchain, Crowdfund Insider
Jul 2019
Breaking Blockchain: NULS Codes Blockchains So Developers
Don’t Have To, Business Wire
Jul 2019 Raw Technology joins RSK Group, Private Equity Wire
Jun 2019 dfuse Secures US$3.5M in Seed Funding, FinSMEs
News
3
-
10
52
166
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Blockchain Network: Market Factsheet
50
Exits
Most Active Investors
Recent InvestmentsCompanies offering protocols for
building blockchain-based
solutions
R3
(2013, New York City, $112M)
Algorand
(2017, Boston, $66M)
Oasis Labs
(2018, Berkeley, $45M)
Fantom
(2018, Gangnam, $40M)
Conflux
(2018, Singapore, $35M)
Top Companies
#2 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Blockchain Network
Companies Created 166 | Funded 52 | Total Funding $379M
0
20
40
$0k
$200M
$400M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Blockchain Network
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201951
Blockchain Network: Top Companies
Blockchain Infrastructure > Market Details > Market: Blockchain Network
#2 Top Markets of Investment Activity
Market: Blockchain Network (1/4)
Analyst’s Pick
R3 (2013, New York City, $112M)
Consortium of financial enterprises aiming to
create digital ledger technology
Soonicorn. Stage: Series A
YES BANK, TIS, CLS Group and 12 Other Investors
Algorand (2017, Boston, $66M)
PoS Blockchain protocol
Editor's Pick. Stage: Series A
Union Square Ventures, Pillar, China Merchants
Bank and 9 Other Investors
Oasis Labs (2018, Berkeley, $45M)
Decentralized cloud computing platform
Editor's Pick. Stage: Series B
Andreessen Horowitz, Accel, Binance and 17 Other
Investors
Fantom (2018, Gangnam, $40M)
DAG-based smart contracts
Minicorn. Stage: Series B
Signum Capital, 8 Decimal Capital, Arrington XRP
Capital and 6 Other Investors
Analyst’s Pick
Conflux (2018, Singapore, $35M)
Blockchain Protocol Layer
Editor's Pick. Stage: Series A
IMO Ventures, Sequoia Capital, F2Pool and 7 Other
Investors
AION (2017, Toronto, $22M)
Inter-blockchain operability network
Editor's Pick. Stage: Series B
Nuco, BlockGrounds, Youbi Capital and 8 Other
Investors
Spacemesh (2017, Herzliya, $18M)
Proof-of-Space-Time consensus protocol
cryptocurrency
Minicorn. Stage: Series A
Polychain, Paradigm Capital, MetaStable Capital
and 17 Other Investors
Dispatch (2017, San Francisco, $18M)
Protocol blockchain based on delegated
asynchronous proof of stake consensus mechanism
Editor's Pick. Stage: Series A
Fenbushi Digital
Analyst’s Pick
Chia Network (2017, San Francisco, $3.4M)
Blockchain based on proofs of space & time
Editor's Pick. Stage: Seed
Naval Ravikant, Greylock Partners, DCM Ventures
and 5 Other Investors
Kadena (2016, New York City, $2.9M)
Private distributed ledger technology solutions for
enterprises
Editor's Pick. Stage: Seed
CoinFund, Asimov Ventures, Youbi Capital and 3
Other Investors
The Graph (2004, San Francisco, $2.5M)
Query protocol for blockchains
Editor's Pick. Stage: Seed
Multicoin Capital, Compound, CoinFund and 2
Other Investors
Enigma (2016, San Francisco, $1.4M)
Privacy focused blockchain
Editor's Pick. Stage: Seed
Floodgate Fund, KR1, Pantera Capital and 5 Other
Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201952
Blockchain Network: Top Companies
Blockchain Infrastructure > Market Details > Market: Blockchain Network
#2 Top Markets of Investment Activity
Market: Blockchain Network (2/4)
Analyst’s Pick
Integrity (2018, Toronto)
Blockchain protocol layer
Minicorn. Stage: Unfunded
Tezos (2014, Zug)
Distributed consensus platform with meta-
consensus capability
Minicorn. Stage: Funded
Boost VC, Hashchain Capital, Draper Associates and
4 Other Investors
Zilliqa (2017, Singapore)
Public blockchain based on sharding technology
Minicorn. Stage: Seed
NGC, Jubilee Capital Management, SEED Venture
Capital and 12 Other Investors
AI-BlockChain (2014, New York City)
AI enhanced blockchain solution provider.
Editor's Pick. Stage: Unfunded
ATUMprotocol (2017, Menlo Park)
Cross-chain swap platform
Editor's Pick. Stage: Unfunded
Analyst’s Pick
Auxledger (2017, Mumbai)
Enterprise Grade Blockchain Infrastructure
Editor's Pick. Stage: Unfunded
Belrium (2017, Kuala Lumpur)
KYC-compliant blockchain
Editor's Pick. Stage: Unfunded
Bitcoin Cash (2017, Los Angeles)
Peer-to-Peer Electronic Cash
Editor's Pick. Stage: Unfunded
Blaze (2018, Indore)
Block-lattice protocol for development of DApps
Editor's Pick. Stage: Unfunded
Cardano (2017, Zug)
Permissioned blockchain with smart contract
facility
Editor's Pick. Stage: Funded
Blockchain R&I, Ledger Capital, Rhapsody Ventures,
NTechPro
Constellation (2017, San Francisco)
Enterprise software protocol for data provenance
Editor's Pick. Stage: Unfunded
Analyst’s Pick
Devvio (2018, Albuquerque)
Open source protocol for transfer of value
Editor's Pick. Stage: Unfunded
DREP Foundation (2017, Singapore)
Decentralized reputation ecosystem
Editor's Pick. Stage: Seed
KuCoin, Blockox Fund, 08 Capital and 2 Other
Investors
Eleven01 (2018, St. Julians)
Blockchain protocol layer
Editor's Pick. Stage: Unfunded
Ethereum (2013, Toronto)
Blockchain protocol supporting smart contracts
Editor's Pick. Stage: Series A
DJ Yakisoba Capital Partners, KR1, Hooklabs and 23
Other Investors
Fleta (2018)
Blockchain based infrastructure platform
Editor's Pick. Stage: Unfunded
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201953
Blockchain Network: Top Companies
Blockchain Infrastructure > Market Details > Market: Blockchain Network
#2 Top Markets of Investment Activity
Market: Blockchain Network (3/4)
Analyst’s Pick
Icon Foundation (2017, Yeongdeungpo)
Proprietary blockchain to connect multiple
governance bodies
Editor's Pick. Stage: Funded
Hooklabs, The Ventures, 08 Capital and 11 Other
Investors
ICONLOOP (2016, Seoul)
Distributed ledger for hyperconnected society
Editor's Pick. Stage: Unfunded
Insolar (2017, Tortola)
Enterprise-grade blockchain platform for
interactions between companies
Editor's Pick. Stage: Unfunded
IOST (2017, Singapore)
Enterprise-grade blockchain infrastructure for
online services
Editor's Pick. Stage: Funded
Metropolis VC, Blockchain R&I, AlphaCoin Fund,
BitBlock Group
Ixian DLT (2017, Ljubljana)
Blockchain-based protocol layer
Editor's Pick. Stage: Unfunded
Analyst’s Pick
Lisk (2016, London)
Platform for decentralized applications and
sidechains
Editor's Pick. Stage: Funded
Whales Capital, Blockchain R&I, CV VC
Marconi (2017, San Francisco)
Blockchain based ethernet protocol
Editor's Pick. Stage: Funded
NGC
mijin (2015, Tokyo)
Blockchain-based protocol layer
Editor's Pick. Stage: Unfunded
MOAC (2017, Menlo Park)
Multi-blockchain software for development of
smart contracts and dApps
Editor's Pick. Stage: Funded
Blockchain R&I, Outpost Capital
Nebl (2017, Washington D.C.)
Blockchain network
Editor's Pick. Stage: Funded
ValueNet Capital
Analyst’s Pick
Neurochain (2017, Neuilly-sur-seine)
Blockchain powered by Machine Learning
Editor's Pick. Stage: Unfunded
NULS (2017, San Jose)
Protocol blockchain for enterprise solutions
Editor's Pick. Stage: Seed
Ulysses Capital, Hach Capital
Onai (2001, San Francisco)
Blockchain-based solution for distributed
computation
Editor's Pick. Stage: Seed
Resolute Ventures, Social Starts
Quadrant (2018, Singapore)
Blockchain-based data protocol
Editor's Pick. Stage: Unfunded
RChain (2017, Seattle)
Protocol blockchain powered by Rho Virtual
Machine
Editor's Pick. Stage: Funded
DNA, Blockchain R&I, Block0 and 3 Other Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201954
Blockchain Network: Top Companies
Blockchain Infrastructure > Market Details > Market: Blockchain Network
#2 Top Markets of Investment Activity
Market: Blockchain Network (4/4)
Analyst’s Pick
Sumcoin (2018)
P2P digital currency
Editor's Pick. Stage: Unfunded
SymVerse (2018, Gimpo-si)
Decentralized peer-to-peer blockchain network
Editor's Pick. Stage: Unfunded
Telegram ICO (2017)
Protocol blockchain for social networking
Editor's Pick. Stage: Unfunded
Truebit (2017, Brooklyn)
Verification solution for blockchain
Editor's Pick. Stage: Unfunded
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
55
Blockchain Network: Leaderboard
Blockchain Infrastructure > Market Details > Market: Blockchain Network
#2 Top Markets of Investment Activity
Better than Market Average
Market: Blockchain Network
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Algorand 2017 Boston Series A $66M 2 - - - 4 10.4k - - 1 - - 5.2k 101%
4.8 Oasis Labs 2018 Berkeley Series B $45M 1 5 - - 4 6.8k - - 1 - - 841 14%
4.4 billon 2012 Warsaw Series A $5M 4 - - - 4 536 - - - - - 62 13%
4.3 Fantom 2018 Gangnam Series B $40M 1 - - - 3 17.2k - - - - - 6.7k 63%
4.2 RSK Labs 2015
Buenos
Aires
Acquired $3.5M 1 - - - - 3.7k - - 3 - - 219 6%
4.1 Spacemesh 2017 Herzliya Series A $18M 2 - - - 3 1.2k - - - - - 252 28%
4.0 R3 2013
New York
City
Series A $112M 4 - - - 4 162 - - 3 - - -1 -1%
4.0 Zilliqa 2017 Singapore Seed - 2 4 - - 3 65.5k - - 3 - - 10.8k 20%
3.9
Chia
Network
2017
San
Francisco
Seed $3.4M 2 5 - - 4 3.7k - - - - - 308 9%
3.9 Bloq 2015 Chicago Seed - 1 - - - - 6.6k - - - - - 339 5%
3.8 Enigma 2016
San
Francisco
Seed $1.4M 3 - - - 4 61.9k - - - - - 465 1%
3.8 Tezos 2014 Zug Funded - 1 - - - - 544 - - 3 - - 52 11%
3.7 Cosmos 2016
San
Francisco
Seed - 1 - - - - 7.2k - - - - - 395 6%
3.7 Dispatch 2017
San
Francisco
Series A $18M 1 5 5 3 4 15.1k 300 8 - - - - -
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Incubators Y Combinator (#1), Fifth Era (#1)
Seed Andreessen Horowitz (#1), Polychain (#2)
Series A/B Digital Currency Group (#1), IDG Capital (#1)
Series C+ Dolfin (#1)
None
$87k - Seed
TradeLayer (2017, San Francisco,
$87k)
Seed
Terra (2018, Seoul, $32M)
Seed
GEO Protocol (2018, Tallinn)
Seed
Terra (2018, Seoul, $32M)
$120M - Series C
Waves Platform (2016, Moscow,
$120M)
$4M - Series B
Axoni (2016, New York City, $59M)
$10M - Series A
dYdX (2017, San Francisco, $10M)
$32M - Seed
Terra (2018, Seoul, $32M)
$32M - Series B
Axoni (2016, New York City, $59M)
$125k - Seed
Dapix (2018, Denver, $125k)
Jun 2019
RegTech Company Coinfirm To Investigate Ripple XRP’s
Compliance With FATF AML Rules, BlockTribune
Jun 2019
Dash Teams Up With Blox to Crypto Accounting Services &
Solutions, Crowdfund Insider
Jun 2019
Waves Breaks into dApps Market, Launching Smart
Contracts Functionality, Medianet
Jun 2019
NEM Launches Development Studio Ahead of Major
Blockchain Upgrade, CoinDesk
Jun 2019
Latitude Blockchain Services Partners Up With Ferrum
Network, Newswire
Jun 2019
Ripple Takes $50 Million Stake in MoneyGram in Push to
Deploy XRP, Fortune
Jun 2019
Dash And Aircoins Join Forces To Power Cryptocurrency
Treasure Hunt In Augmented Reality, iCrowdNewswire
News
-
3
5
21
74
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Blockchain Network > Finance: Market Factsheet
56
Exits
Most Active Investors
Recent InvestmentsCompanies offering blockchain
protocols for the finance industry
Waves Platform
(2016, Moscow, $120M)
Ripple
(2012, San Francisco, $94.6M)
Axoni
(2016, New York City, $59M)
Terra
(2018, Seoul, $32M)
dYdX
(2017, San Francisco, $10M)
Top Companies
#3 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Finance
Companies Created 74 | Funded 21 | Total Funding $319M
0
5
10
15
$0k
$200M
$400M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Finance
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201957
Blockchain Network > Finance: Top Companies
Blockchain Infrastructure > Market Details > Market: Finance
#3 Top Markets of Investment Activity
Market: Finance (1/2)
Analyst’s Pick
Waves Platform (2016, Moscow, $120M)
Decentralized protocol for application development
& token management
Soonicorn. Stage: Series C
Dolfin, Blockchain R&I, BlockGrounds
Ripple (2012, San Francisco, $94.6M)
Open source payment protocol for cross border
money transfer.
Unicorn. Stage: Series B
Standard Chartered, SBI Holdings, Digital Ventures
and 36 Other Investors
Axoni (2016, New York City, $59M)
Blockchain solutions for capital markets
Minicorn. Stage: Series B
Hsbc, Andreessen Horowitz, Coatue and 15 Other
Investors
Terra (2018, Seoul, $32M)
Decentralized financial infrastructure for payments
Minicorn. Stage: Seed
LuneX, Kakao Investment, Kakao Ventures and 13
Other Investors
Analyst’s Pick
dYdX (2017, San Francisco, $10M)
Open source protocols for decentralized margin
trading and derivatives trading
Editor's Pick. Stage: Series A
Polychain, Abstract Ventures, Kindred Ventures
and 13 Other Investors
Stellar (2014, San Francisco, $3M)
Decentralized protocol for sending and receiving
money in any pair of currencies
Editor's Pick. Stage: Seed
SEED Venture Capital, Proof of Capital, Nobu
Network and 4 Other Investors
Dash (2015, Mexico City, $220k)
Anonymous transaction service provider
Minicorn. Stage: Seed
Rhapsody Ventures, Rockshield Capital, All Blue
Capital, Blockchain R&I
Dapix (2018, Denver, $125k)
FIO Protocol for interwallet operability
Editor's Pick. Stage: Seed
PV Ventures, Service Provider Capital, Dundee
Venture Capital, FirstMile Ventures
Analyst’s Pick
Bitcoin (2009, London)
P2P digital currency
Editor's Pick. Stage: Funded
a16z crypto, Victory Square Technologies, Pantera
Capital and 16 Other Investors
Elrond (2017)
Blockchain-based protocol layer to enhance intra-
shard communication
Editor's Pick. Stage: Funded
NGC
Ethereum Classic (2016, Curitiba)
Open source protocol featuring smart contracts
functionality
Editor's Pick. Stage: Funded
Blockchain R&I, Digital Finance Group
Litecoin (2011, Toronto)
Open source P2P digital currency
Editor's Pick. Stage: Funded
Blockchain R&I, Planet Ventures, Victory Square
Technologies
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201958
Blockchain Network > Finance: Top Companies
Blockchain Infrastructure > Market Details > Market: Finance
#3 Top Markets of Investment Activity
Market: Finance (2/2)
Analyst’s Pick
Nem (2014, Daegu)
P2P crypto platform for blockchain-based solutions.
Editor's Pick. Stage: Funded
Blockchain R&I, Rhapsody Ventures
Olympus Labs (2017, New York City)
Protocol blockchain for building decentralized
financial products
Editor's Pick. Stage: Funded
Platon Finance (2017, Prague)
Cryptocurrency based on ethereum blockchain
Editor's Pick. Stage: Unfunded
SpectreCoin (2016, London)
Privacy-focused cryptocurrency
Editor's Pick. Stage: Funded
The Monero Project (2014, Cape Town)
Monera alternative cryptocurrency for private
transactions
Editor's Pick. Stage: Funded
Blockchain R&I, Tyr Capital, Victory Square
Technologies
Analyst’s Pick
ZAGG Protocol (2018, Singapore)
Protocol blockchain for building B2B2C payment
applications
Editor's Pick. Stage: Unfunded
Zcash Electric Coin Company (2016,
Boulder)
Alternative currency and payment system
Editor's Pick. Stage: Seed
Winklevoss Capital, Fifth Era, Fenbushi Capital and
4 Other Investors
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
59
Blockchain Network > Finance: Leaderboard
Blockchain Infrastructure > Market Details > Market: Finance
#3 Top Markets of Investment Activity
Better than Market Average
Market: Finance
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0
Waves
Platform
2016 Moscow Series C $120M 2 - 4 - - - 300k 2k 1 614 47% 7.6k
-
100%
5.0 Ripple 2012
San
Francisco
Series B $94.6M 5 4 - - - 924.6k - - 3 - - 18.3k 2%
4.8 Stellar 2014
San
Francisco
Seed $3M 1 - - - - 274.8k - - - - - 14k 5%
4.4 Terra 2018 Seoul Seed $32M 3 4 - - 4 1.9k - - - - - 990 121%
4.1 dYdX 2017
San
Francisco
Series A $10M 2 4 - - 4 6.2k - - - - - 1.1k 20%
4.0 Dash 2015 Mexico City Seed $220k 1 2 4 - - 204 300k 798 2 99 14% -5 -2%
4.0 Nem 2014 Daegu Funded - - - 3 - - 216.4k 75k 554 1 44 9% 2k 1%
3.9 Axoni 2016
New York
City
Series B $59M 4 - - - - - - - - - - - -
3.7 Bitcoin 2009 London Funded - - - - - 3 941.9k - - - - - 19.8k 2%
3.5
Ethereum
Classic
2016 Curitiba Funded - - 5 - - 3 227.9k - - - - - 1.4k 1%
3.5
Zcash
Electric Coin
Company
2016 Boulder Seed - 3 - - - - 79 - - - - - - -
3.1
Graft
Blockchain
2017 Dallas Unfunded - - - 4 - 3 3.8k 36k 243 - 30 14% 404 12%
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201960
#4 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management
Companies Created 42 | Funded 15 | Total Funding $75.5M
Market: Compliance and Risk Management
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201961
Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management
#4 Top Markets of Investment Activity
Market: Compliance and Risk Management (1/2)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201962
Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management
#4 Top Markets of Investment Activity
Market: Compliance and Risk Management (2/2)
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201963
Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management
#4 Top Markets of Investment Activity
Better than Market Average
Market: Compliance and Risk Management
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201964
#5 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Security
Companies Created 43 | Funded 16 | Total Funding $61.8M
Market: Security
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201965
Blockchain Infrastructure > Market Details > Market: Security
#5 Top Markets of Investment Activity
Market: Security
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201966
Blockchain Infrastructure > Market Details > Market: Security
#5 Top Markets of Investment Activity
Better than Market Average
Market: Security
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201967
#6 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Hardware
Companies Created 124 | Funded 15 | Total Funding $233M
Market: Hardware
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201968
Blockchain Infrastructure > Market Details > Market: Hardware
#6 Top Markets of Investment Activity
Market: Hardware
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201969
Blockchain Infrastructure > Market Details > Market: Hardware
#6 Top Markets of Investment Activity
Better than Market Average
Market: Hardware
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201970
#7 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Sidechain
Companies Created 38 | Funded 14 | Total Funding $140M
Market: Sidechain
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201971
Blockchain Infrastructure > Market Details > Market: Sidechain
#7 Top Markets of Investment Activity
Market: Sidechain
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201972
Blockchain Infrastructure > Market Details > Market: Sidechain
#7 Top Markets of Investment Activity
Better than Market Average
Market: Sidechain
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201973
#8 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Smart Contracts
Companies Created 109 | Funded 18 | Total Funding $24.7M
Market: Smart Contracts
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201974
Blockchain Infrastructure > Market Details > Market: Smart Contracts
#8 Top Markets of Investment Activity
Market: Smart Contracts
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201975
Blockchain Infrastructure > Market Details > Market: Smart Contracts
#8 Top Markets of Investment Activity
Better than Market Average
Market: Smart Contracts
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201976
#9 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Software
Companies Created 60 | Funded 2 | Total Funding $53.9M
Market: Software
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201977
Blockchain Infrastructure > Market Details > Market: Software
#9 Top Markets of Investment Activity
Market: Software
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201978
Blockchain Infrastructure > Market Details > Market: Software
#9 Top Markets of Investment Activity
Better than Market Average
Market: Software
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201979
#10 Top Markets of Investment Activity
Blockchain Infrastructure > Market Details > Market: Middleware
Companies Created 1 | Funded 1 | Total Funding $20M
Market: Middleware
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201980
Blockchain Infrastructure > Market Details > Market: Middleware
#10 Top Markets of Investment Activity
Market: Middleware
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201981
#1 Other Notable Markets
Blockchain Infrastructure > Market Details > Market: Blockchain Explorer
Companies Created 111 | Funded 8 | Total Funding $92.7M
Market: Blockchain Explorer
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201982
Blockchain Infrastructure > Market Details > Market: Blockchain Explorer
#1 Other Notable Markets
Market: Blockchain Explorer
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201983
Blockchain Infrastructure > Market Details > Market: Blockchain Explorer
#1 Other Notable Markets
Better than Market Average
Market: Blockchain Explorer
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
84
Notable Acquisitions
Top Acquirers
Acqui-hires
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Auto IT
Jun 2019
Tech for Traditional Advertising
Jun 2019
Diabetes
Jun 2019
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Public companies
86
List of Public Companies in Blockchain Infrastructure
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 2019
BlockMint (2018, Portland)
Cryptocurrency mining software provider
CVE:BKMT
Nov 2018
Tymlez (2016, The Hague)
Blockchain-based enterprise solutions.
$20.6M ASX:TYM
Nov 2015
InterBit (2015, London)
Blockchain-based application development
$352k IBIT
Jun 2015
Marathon Patent Group (2013, Las Vegas)
Cryptocurrency mining company
NASDAQ:MARA
Nov 2001
Hancom Secure (1999, Seongnam-si)
Security solution for enterprises
$45.2M KOSDAQ:54920
Jun 1998
Blockchain Holding (2016)
Cryptocurrency mining hardware solutions
$425k CNSX:BCX
Aug 1996
SkyChain Technologies (1977, Vancouver)
Mining service provider
CVE:SCT
Blockchain Infrastructure > Exit Outlook > Public Companies
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Notable Acquisitions
87
Notable Acquisitions in Blockchain Infrastructure
Blockchain Infrastructure > Exit Outlook > Notable Acquisitions
Acq. Date Company Acquirer Deal Size
Sep 2018
Chain (2014, San Francisco)
Application development platform for financial services
industry
Lightyear $500M
Jul 2015
Penta Security (1997, Seoul)
Web application firewall, database security and IAM
solution
Liberty $163M
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Most Active Acquirers
88
Blockchain Infrastructure > Exit Outlook > Most Active Acquirers
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Acqui-hires
89
List of Acqui-hires in Blockchain Infrastructure
Excludes all details for Chinese companies
Date Target
Feb-19 Chainspace Acq by Facebook
Feb-17 Skry Acq by Bloq
Blockchain Infrastructure > Exit Outlook > Acqui-hires
View all 2 Acqui-hired companies on Tracxn Platform
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
90
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Marketplaces - India
Jul 2019
Vernacular Platforms
Jun 2019
Productivity Software
Jun 2019
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201992
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Blockchain Infrastructure > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Blockchain Infrastructure; Last 5 years (Jul 2014 - Jun 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Digital Currency Group (8 Investments)
Kenetic (4 Investments)
Blockchain Capital (3 Investments)
KR1 (3 Investments)
Dunamu & Partners (3 Investments)
Andreessen Horowitz (2 Investments)
Canaan Partners (2 Investments)
Union Square Ventures (2 Investments)
SV Angel (2 Investments)
AME Cloud Ventures (2 Investments)
Fenbushi Capital (2 Investments)
Hashed (2 Investments)
Kakao Ventures (2 Investments)
1kx (2 Investments)
Coinbase Ventures (2 Investments)
EARLY STAGE
Digital Currency Group (4 Investments)
Pantera Capital (4 Investments)
Accel (3 Investments)
Andreessen Horowitz (3 Investments)
Khosla Ventures (3 Investments)
Coinbase Ventures (3 Investments)
GV (2 Investments)
Foundation Capital (2 Investments)
SV Angel (2 Investments)
RRE Ventures (2 Investments)
FPrime Capital Partners (2 Investments)
Accomplice (2 Investments)
Data Collective (2 Investments)
Slow Ventures (2 Investments)
Santander InnoVentures (2 Investments)
LATE STAGE
Union Square Ventures
Pantera Capital
Armat Group
Korelya Capital
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Digital Currency Group
93
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Digital Currency Group
People
Investments
[Unicorn] Hedera Hashgraph (2018, Richardson, $124M,
Funded)
Application development platform
[Soonicorn] Blockstream (2014, San Francisco, $101M, Series B)
Blockchain development focused on sidechains innovation
[Soonicorn] Chainalysis (2014, Manhattan, $53.6M, Series B)
Blockchain based payment fraud prevention & compliance solutions
[Minicorn] Blockchain (2011, London, $70M, Series B)
Bitcoin wallet service and blockchain navigation
[Minicorn] Axoni (2016, New York City, $59M, Series B)
Blockchain solutions for capital markets
[Minicorn] TradeBlock (2013, New York City, $20.7M, Series B)
Online cryptocurrency data and research
[Editor's Pick] Blockstack (2015, New York City, $6.8M, Series A)
blockchain application development platform
[Editor's Pick] Horizen Labs (2018, Austin, $4M, Seed)
Blockchain-based infrastructure for sidechain application
[Editor's Pick] Lightning Labs (2016, San Francisco, $2.5M, Seed)
Lightning network protocol developer
[Editor's Pick] Enigma (2016, San Francisco, $1.4M, Seed)
Privacy focused blockchain
[Editor's Pick] Merkle Science (2018, Singapore, $804k, Seed)
Risk management solution for the blockchain ecosystem
[Editor's Pick] Zcash Electric Coin Company (2016, Boulder,
Seed)
Alternative currency and payment system
Blockchain Infrastructure Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Barry Silbert
Founder & CEO
Geographical Spread Stage of Entry
Jul 2019
Coinsilium inks agreement to promote RSK network in
Southeast Asia, Proactive Investors
Jul 2019
SEC Approves First Blockchain Firm for Regulation A+
Funding, Finance Magnates
Jul 2019
Blockstream Launches Atomic Swaps on Liquid Bitcoin
Sidechain, CoinDesk
Jul 2019 Raw Technology joins RSK Group, Private Equity Wire
Jun 2019
Partnership between Swarm and RSK Infrastructure
Framework (RIF) to develop a breakthrough storage
solution, Fintech Finance
Jun 2019
Chainalysis Hires FinCEN Vet to Tackle Crypto’s New
‘Travel Rule’ Challenge, CoinDesk
Chain
(2014, San Francisco, $44M)
Acq by Lightyear - Sep 2018
Elliptic
(2014, London, $11M)
Acq by Synopsys - Jun 2015
RSK Labs
(2015, Buenos Aires, $3.5M)
Acq by rifos.org - Nov 2018
1 11
1
2
3
3
2
2014 2015 2016 2017 2018 2019
Follow On New Investments
10
-
1
3
8
Undisclosed
Series C+
Series B
Series A
Seed15
4
2
1
-
US
Europe
SEA
Latam
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Kenetic
94
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Kenetic
People
Investments
[Soonicorn] Origin Protocol (2017, San Francisco, $31.5M,
Series A)
Blockchain platform for building decentralized marketplaces
[Minicorn] Terra (2018, Seoul, $32M, Seed)
Decentralized financial infrastructure for payments
[Editor's Pick] TransitNet (2018, Redondo Beach, $2.5M, Seed)
Reporting and compliance solution for token issuers
[Editor's Pick] Merkle Science (2018, Singapore, $804k, Seed)
Risk management solution for the blockchain ecosystem
Blockchain Infrastructure Notable Portfolio
[Soonicorn] BlockFi (2017, New York City, $60.4M, Series B)
Crypto-assets collateralized fiat loans
[Minicorn] SharesPost (2009, San Francisco, $18M, Series C)
Platform for private security investments
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Jehan Chu
Co-Founder &
Managing Partner
Lawrence Chu
Co-Founder
Daniel Weinberg
CEO
Geographical Spread Stage of Entry
Jun 2019
TransitNet Announces Product Launch, Cohen &
Company Among Clients, PRWeb
None
4
1
2014 2015 2016 2017 2018 2019
Follow On New Investments
-
-
-
1
4
Undisclosed
Series C+
Series B
Series A
Seed3
1
1
-
-
US
SEA
South Korea
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Blockchain Capital
95
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Blockchain Capital
People
Investments
[Unicorn] Bitfury (2012, San Francisco, $175M, Series D)
Provider for Bitcoin mining hardware
[Soonicorn] Blockstream (2014, San Francisco, $101M, Series B)
Blockchain development focused on sidechains innovation
[Minicorn] Nervos Network (2018, Hangzhou, $28M, Series A)
Suite of interoperable protocols for dApps
[Minicorn] BlockCypher (2013, Redwood City, $3.5M, Seed)
Cloud-optimized full blockchain nodes
[Minicorn] TRM (2018, San Francisco, $1.7M, Seed)
Risk and compliance management solution for crypto companies
[Editor's Pick] Blockstack (2015, New York City, $6.8M, Series A)
blockchain application development platform
Blockchain Infrastructure Notable Portfolio
[Unicorn] Coinbase (2012, San Francisco, $547M, Series E)
Digital currency exchange & wallet provider
[Unicorn] Circle (2013, Boston, $246M, Series E)
Digital currency wallet for global money transfers
[Soonicorn] High Fidelity (2013, San Francisco, $85M, Series D)
Open-source social virtual reality platform to create, share and explore
virtual worlds
[Soonicorn] Anchorage (2017, San Francisco, $57M, Series B)
Cryptocurrency custodian service provider
[Soonicorn] Xapo (2012, Palo Alto, $40M, Series A)
Cold Storage Vault & Bitcoin Wallet
[Soonicorn] itBit (2012, Tower, $28.3M, Series A)
Provider of Trading & Settlement platforms
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Brock Pierce
Co-Founder
Bart Stephens
Co-Founder &
Managing Partner
Bradford
Stephens
Co-Founder &
Managing Partner
Geographical Spread Stage of Entry
Jul 2019
SEC Approves First Blockchain Firm for Regulation A+
Funding, Finance Magnates
Jul 2019
US-Based Provident Bank To Integrate BitFury’s
Blockchain Investigation Tool, BlockTribune
Jul 2019
Nervos Begins Mainnet Preparation with Crypto Wallet
Partnership, AiThority
Jul 2019
Blockstream Launches Atomic Swaps on Liquid Bitcoin
Sidechain, CoinDesk
Jun 2019
ITI Funds to build a solution for cryptocurrency
transactions compliance for fund managers, Institutional
Asset Manager
Jun 2019
EOS Blockchain Developer Block.one Purchased
Voice.com Domain Name For $30M USD, BlockTribune
Chain
(2014, San Francisco, $44M)
Acq by Lightyear - Sep 2018
11 1 1 1
2014 2015 2016 2017 2018 2019
Follow On New Investments
4
-
-
1
3
Undisclosed
Series C+
Series B
Series A
Seed6
1
1
-
-
US
China
Cayman Islands
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
KR1
96
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > KR1
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Dunamu & Partners
97
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Dunamu & Partners
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Andreessen Horowitz
98
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Andreessen Horowitz
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Union Square Ventures
99
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Union Square Ventures
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
SV Angel
100
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > SV Angel
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
AME Cloud Ventures
101
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > AME Cloud Ventures
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Fenbushi Capital
102
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Fenbushi Capital
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Hashed
103
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Hashed
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
1kx
104
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > 1kx
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Coinbase Ventures
105
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Coinbase Ventures
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
106
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019
Digital Currency Group
107
Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter
Blockchain Infrastructure > Investors > Digital Currency Group
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Tracxn - Blockchain Infrastructure Startup Landscape
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Tracxn - Blockchain Infrastructure Startup Landscape

  • 2. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 2 TAKE SHARPER DECISIONS WITH TRACXN ✓ Analyst team Covering 250+ Sectors ✓ Proprietary Business Model tagging ✓ 6000+ On-demand Queries answered ✓ Sector Reports, Market Maps ✓ One-Click Connect with Founders Join 500+ Investors & Corporates to get the Tracxn Advantage
  • 3. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 3 Feed Summary Investment Trend Summary Exit Outlook Summary Summary of Key Markets Notable Companies in the Sector Recent News
  • 4. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on July 17, 2019. Blockchain Infrastructure Feed Summary 4 Blockchain Infrastructure > Feed Summary Companies developing blockchain technologies such as blockchain network, smart contracts, etc to cater to enterprise and consumer markets. • Inclusions: Companies developing blockchain networks, smart contracts, mining hardware/software, application development platform to build applications based on blockchains, middleware infrastructure solutions which adding functionalities of an existing blockchain network, and enabling solutions to maintain the ecosystem of blockchain and its applications. • Exclusions: Companies which develop blockchain applications, payment services that accept cryptocurrencies as a mode of payment but do not operate on the blockchain, etc. • Excludes funding information of Chinese companies Feed in Numbers Overview $1.8B Funding 12 Mega Companies 2531131 FundedCovered on Tracxn 3 Unicorns 7 Soonicorns 31 Minicorns 7 IPO’d Cos 53 Late Stage Cos 4 14 Acquisitions 41 DeadPooled 2 Acquihired Series A+ Cos Hedera Hashgraph (2018, Richardson, $124M) Waves Platform (2016, Moscow, $120M) Bitfury (2012, San Francisco, $175M) Top Companies
  • 5. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Investment Trend Summary Summary of Funding Activity in Blockchain Infrastructure 5 $120M - Series C Waves Platform (2016, Moscow, $120M) $40M - Series B Fantom (2018, Gangnam, $40M) $80M - Series D Bitfury (2012, San Francisco, $175M) $35M - Series A Conflux (2018, Singapore, $35M) $62M - Series A Algorand (2017, Boston, $66M) $32M - Series B Axoni (2016, New York City, $59M) $50M - Series B ThunderCore (2017, Sunnyvale, $50M) $32M - Seed Terra (2018, Seoul, $32M) $45M - Series B Oasis Labs (2018, Berkeley, $45M) $30M - Series B Chainalysis (2014, Manhattan, $53.6M) Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend *YTD *YTD Blockchain Infrastructure > Feed Summary > Investment Trend Summary Seed Digital Currency Group (#8), Kenetic (#4), Blockchain Capital (#3) Series A/B Digital Currency Group (#4), Pantera Capital (#4), Accel (#3) Series C+ Union Square Ventures (#1), Pantera Capital (#1), Armat Group (#1) Incubators 500 Startups (#6), Plug and Play Tech Center (#5), Boost VC (#5) Other Notable Investors Arrington XRP Capital (#7), Polychain (#6), MetaStable Capital (#6) Debt Investors Galaxy Digital (#2), Macquarie Group (#1) Most Active InvestorsRecent Investments 76 57 114 292 437 59 2014 2015 2016 2017 2018 2019* Y-o-Y # of Companies Founded 26 15 17 29 67 36 $1.1B $284M $90.2M $57.4M $37.2M US Europe South Korea Israel SEA $ Funding $277M $201M $80M $174M $255M $653M $475M 62 2014 2015 2016 2017 2018 2019* $ Funding # Rounds
  • 6. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Summary of exit outlook in Blockchain Infrastructure Exit Outlook Summary 66 Most Active AcquirersTop Investors in Exits 500 Startups 2 Chain (2014, San Francisco, $44M) Chain (2014, San Francisco, $44M) RRE Ventures 2 Ripple (2012, San Francisco, $94.6M) Chain (2014, San Francisco, $44M) 2020 Ventures 2 Ripple (2012, San Francisco, $94.6M) Chain (2014, San Francisco, $44M) Blockchain Capital 2 Bitfury (2012, San Francisco, $175M) Chain (2014, San Francisco, $44M) Digital Currency Group 2 Hedera Hashgraph (2018, Richardson, $124M) Chain (2014, San Francisco, $44M) Mar 2019 Coinplay Acq by TRON Mar 2019 Firmo Acq by eToro Feb 2019 Neutrino Acq by Coinbase for $13.5M Nov 2018 RSK Labs Acq by rifos.org Sep 2018 Chain Acq by Lightyear for $500M Jul 2015 Penta Security Acq by Liberty for $163M May 2015 Bitcoin Brains Acq by BitNational for $2.1M Blockchain Infrastructure > Feed Summary > Exit Outlook Summary Digital Asset Holdings 2 Hyperledger Project (Jun 2015), Blockstack (Oct 2015) Synopsys 1 Elliptic (Jun 2015) Coinbase 1 Neutrino (Feb 2019, $13.5M) Entrust Datacard 1 nCipher (Feb 2019) eToro 1 Firmo (Mar 2019) Recent IPOs Top Acquisitions Hancom Secure Nov 2001 Security solution for enterprises IPO MCap: $45.2M Blockchain Holding Jun 1998 Cryptocurrency mining hardware solutions IPO MCap: $425k SkyChain Technologies Aug 1996 Mining service provider IPO MCap: - BlockMint Feb 2019 Cryptocurrency mining software provider IPO MCap: - Tymlez Nov 2018 Blockchain-based enterprise solutions. IPO MCap: $20.6M InterBit Nov 2015 Blockchain-based application development IPO MCap: $352k Marathon Patent Group Jun 2015 Cryptocurrency mining company IPO MCap: -
  • 7. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Key Sub Sectors in Blockchain Infrastructure Sector Summary of Key Markets 7 Other Notable Markets # Cos on Platform Last 2 Years $ Invested # Round Mining > Software 60 $15.1M 2 Top Markets of Investment Activity # Cos on Platform Last 2 Years $ Invested # Round Blockchain Network 166 $325M 29 Application Development Platforms 324 $251M 31 Blockchain Network > Finance 74 $257M 15 Middleware > Sidechain 38 $384M 10 Enablers > Security > Compliance and Risk Management 42 $69.6M 11 Mining > Hardware 124 $186M 5 Enablers > Security 43 $53.6M 11 Smart Contracts 109 $54.2M 9 Sub Sectors # Cos Tracked # Funded Total Funding Blockchain Network Companies offering protocols for building blockchain- based solutions 240 73 $698M Application Development Platforms Companies which offer application development platform on top of third-party blockchains 324 83 $407M Mining Companies that provide services & solutions for mining in the blockchain ecosystem 185 17 $287M Enablers Companies offering solutions to maintain the ecosystem of blockchain and its applications 196 39 $230M Middleware Companies offering infrastructure solutions which adding functionalities of an existing... 77 23 $166M Smart Contracts Companies enabling digitized agreements on a public ledger using blockchain technology 109 18 $24.7M Blockchain Infrastructure > Feed Summary > Summary of Key Markets
  • 8. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 List of Notable Companies in Blockchain Infrastructure Notable Companies in the Sector 8 Note: *(Founded Year, Location, Total Funding) Blockchain Infrastructure > Feed Summary > Notable Companies in the Sector Public Hancom Secure (1999, Seongnam-si)* Tymlez (2016, The Hague) Blockchain Holding (2016) InterBit (2015, London) Marathon Patent Group (2013, Las Vegas) BlockMint (2018, Portland) SkyChain Technologies (1977, Vancouver) Acquired Chain (2014, San Francisco, $44M) Penta Security (1997, Seoul, $8M) Unicorns Bitfury (2012, San Francisco, $175M) Hedera Hashgraph (2018, Richardson, $124M) Ripple (2012, San Francisco, $94.6M)
  • 10. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 List of Notable Companies by Market in Blockchain Infrastructure Notable Companies by Market (1/3) 10 Blockchain Infrastructure > Feed Summary > Notable Companies by Market Blockchain Network Blockchain Network R3 (2013, New York City, $112M) Consortium of financial enterprises aiming to create digital ledger technology Soonicorn. Stage: Series A YES BANK, TIS, CLS Group and 12 Other Investors Tymlez (2016, The Hague) Blockchain-based enterprise solutions. Stage: Public Dominet Digital Corporation Finance Waves Platform (2016, Moscow, $120M) Decentralized protocol for application development & token management Soonicorn. Stage: Series C Dolfin, Blockchain R&I, BlockGrounds Ripple (2012, San Francisco, $94.6M) Open source payment protocol for cross border money transfer. Unicorn. Stage: Series B Standard Chartered, SBI Holdings, Digital Ventures and 36 Other Investors Mining Hardware Bitfury (2012, San Francisco, $175M) Provider for Bitcoin mining hardware Unicorn. Stage: Series D Korelya Capital, NAVER Corp, Macquarie Group and 23 Other Investors Blockchain Holding (2016) Cryptocurrency mining hardware solutions Editor's Pick. Stage: Public Marathon Patent Group (2013, Las Vegas) Cryptocurrency mining company Editor's Pick. Stage: Public SkyChain Technologies (1977, Vancouver) Mining service provider Stage: Public
  • 11. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 List of Notable Companies by Market in Blockchain Infrastructure Notable Companies by Market (2/3) 11 Blockchain Infrastructure > Feed Summary > Notable Companies by Market Mining Software Helium (2006, San Francisco, $53.8M) Gateway for cryptocurrency mining Soonicorn. Stage: Series C Union Square Ventures, Multicoin Capital, Khosla Ventures and 12 Other Investors BlockMint (2018, Portland) Cryptocurrency mining software provider Stage: Public Application Development Platforms Application Development Platforms Hedera Hashgraph (2018, Richardson, $124M) Application development platform Unicorn. Stage: Funded Digital Currency Group, BlockTower, Team In Residence and 7 Other Investors Chain (2014, San Francisco, $44M) Application development platform for financial services industry Soonicorn. Stage: Acquired Fiserv, Nasdaq, Visa and 23 Other Investors Origin Protocol (2017, San Francisco, $31.5M) Blockchain platform for building decentralized marketplaces Soonicorn. Stage: Series A Blockasset Ventures, Foundation Capital, BlockTower and 26 Other Investors InterBit (2015, London) Blockchain-based application development Stage: Public Middleware Sidechain Blockstream (2014, San Francisco, $101M) Blockchain development focused on sidechains innovation Soonicorn. Stage: Series B G Lab, Horizons Ventures, Digital Garage and 22 Other Investors
  • 12. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 List of Notable Companies by Market in Blockchain Infrastructure Notable Companies by Market (3/3) 12 Blockchain Infrastructure > Feed Summary > Notable Companies by Market Enablers Security Chainalysis (2014, Manhattan, $53.6M) Blockchain based payment fraud prevention & compliance solutions Soonicorn. Stage: Series B Mitsubishi UFJ Financial Group, Sozo Ventures, Accel and 8 Other Investors Penta Security (1997, Seoul, $8M) Web application firewall, database security and IAM solution Minicorn. Stage: Acquired H&Q Asia Pacific, POSCO Capital, Hyundai Venture Investment Hancom Secure (1999, Seongnam-si) Security solution for enterprises Editor's Pick. Stage: Public Lindeman Asia Investment
  • 13. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 List of Notable Companies in Blockchain Infrastructure in China Notable Companies in the Sector in China 13 Blockchain Infrastructure > Feed Summary > Notable Companies in the Sector in China Acquired Canaan (2013, Beijing, $43.5M) Unicorns Bitmain (2013, Beijing, $950M) Jianan (2013, Hangzhou)
  • 14. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Recent News in Blockchain Infrastructure Sector Recent News 14 Blockchain Infrastructure > Feed Summary > Recent News Jul 2019 R3 launches blockchain developer toolkit for business tokens on Corda, SiliconAngle Jul 2019 YAO Network: An Outlier Set to Disrupt the Blockchain Status Quo, AiThority Jul 2019 Crypto Exchange CoinFLEX to Launch Its First Initial Futures Offering for Polkadot’s DOT Tokens, Coinspeaker Jul 2019 Wall Street-Backed Blockchain Consortium R3 on Its IPO Consideration, Coinspeaker Jul 2019 Dapp Devs Can Now Pay Users’ Fees in Icon Network’s New Fee Model, Finance Magnates Jul 2019 YAO Network Makes BaaS 3.0 a Reality, PR Newswire Jul 2019 CasperLabs Announces Node 0.5 and Gets Ready for Public DevNet, TechStartups.com Jul 2019 Blockpass Announces First-Use KYC Services to Hong Kong Brokers in Partnership with 2GoTrade, ACN Newswire Jul 2019 REPEAT - Interbit™ Announces a Product Strategy Update and Contract Signed With Xinova, LLC, GlobeNewswire Jul 2019 Coinsilium inks agreement to promote RSK network in Southeast Asia, Proactive Investors Jul 2019 YES Bank brings blockchain efficiency to Indian corporate debt market, Finextra Jul 2019 US-Based Provident Bank To Integrate BitFury’s Blockchain Investigation Tool, BlockTribune Key Recent News Key Recent News Jul 2019 SEC Approves First Blockchain Firm for Regulation A+ Funding, Finance Magnates Jul 2019 Blockpass to Service Ultra IEO on New Tokinex Platform, ACN Newswire Jul 2019 Prime Factors Partners with nCipher Security to Deliver Simple, Fast, Secure Data Protection Solution, PRWeb Jul 2019 Near Raises $12.1M in Funding, FinSMEs Jul 2019 Nebulous Raises $3.25M in Seed Funding, FinSMEs Jul 2019 R3 and GoldGram Partner to Develop GGC GoldGramCoin Token for R3’s Corda Blockchain Platform, Financial IT Jul 2019 Nervos Begins Mainnet Preparation with Crypto Wallet Partnership, AiThority Jul 2019 Blox.io Becomes First Crypto Accounting Platform To Integrate Zilliqa Blockchain, Fintech Finance Jul 2019 Bitcoin Daily: Hyundai-Backed Co. Teams With CasperLabs For Blockchain Project; Blockchain Marketplace Launches For DTC Brands, pymnts.com Jul 2019 BTG Pactual and Dalma Capital: Adopt Tezos for STOs, FinTechInShorts Jul 2019 TRON Launches ‘BitTorrent Speed’ With Native Token Functionality, Coinspeaker Jul 2019 Former Enercare Ceo John Macdonald Joins Parity As Chair Of The Board, BetaKit
  • 15. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 15 Funding Trends Median Deal Size and Trend New Entrants in Funding Club Distribution of companies by Funding Range Funding Funnel of the Sector Top Investments and Investors Investors in Unicorn club
  • 16. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Auto IT Jun 2019 Tech for Traditional Advertising Jun 2019 Diabetes Jun 2019
  • 17. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Investments ($M) and number of rounds in Blockchain Infrastructure; 2012-2019 Global Funding Trends (1/2) 17 Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies Blockchain Infrastructure > Investment Trends > Global Funding Trends #Rounds $Funding 3 Year CAGR 6 Year CAGR 65% # of Rounds100% $ Funding 50% # of Rounds 101% $ Funding $277M $10M $201M $80M $174M $255M $653M $475M 0 10 20 30 40 50 60 70 80 $0k $100M $200M $300M $400M $500M $600M $700M 2012 2013 2014 2015 2016 2017 2018 2019* $ Funding Predicted $ Funding # Rounds Predicted # Rounds
  • 18. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 $0K $2M $37M $9M $4M $16M $77M $27M $0K $8M $163M $71M $170M $208M $377M $235M $0K $0K $0K $0K $0K $30M $200M $15M 2012 2013 2014 2015 2016 2017 2018 2019 YTD Seed Early Stage Late Stage 3 14 10 9 20 39 20 3 12 5 8 8 25 15 1 3 1 2012 2013 2014 2015 2016 2017 2018 2019 YTD Seed Early Stage Late Stage - 36 Total # of Rounds 18 Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies Stage-wise Number of RoundsStage-wise $ Invested New Entrants in Funded Club Global Funding Trends (2/2) Investments ($M) and number of rounds in Blockchain Infrastructure; 2012-2019 Blockchain Infrastructure > Investment Trends > Global Funding Trends 5 17 7 8 19 41 26 123 $1.4M $4.1M $0.0M $1.0M $2.0M $3.0M $4.0M $5.0M $6.0M $7.0M $8.0M 0 20 40 60 80 100 120 140 2013 2014 2015 2016 2017 2018 2019 YTD Total Entrants in Funding Club Avg. Ticket Size $1.4M $6M $0.6M $0.3M $7.5M $5.5M $7.3M $4.1M $0K $277M Total $ Invested $120M $123M $50M $130M $224M $495M $206M 7 0 2 4 6 8 10 12 0 100000000 200000000 300000000 400000000 500000000 600000000 2012 2013 2014 2015 2016 2017 2018 2019 YTD $ Funding Predicted $ Funding # of Rounds Predicted # Rounds Mega Rounds - - 5 2 3 5 10 4
  • 19. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201919 Blockchain Infrastructure > Investment Trends > Funding Trends by Geography Investments ($M) and number of rounds in Blockchain Infrastructure Funding Trends by Geography Funding Trends by Geography Top Cities of Funding City $ Funding # Rounds Bay Area 734M 63 New York City 227M 28 Moscow 120M 1 London 92M 9 Boston 70.3M 6 Manhattan 53.6M 5 Seoul 40M 4 Gangnam 40M 2 Tel Aviv 37.4M 7 Singapore 36.9M 9 Total Funding 66 33 9 10 12 5 4 2 # Rounds $1.1B $284M $90.2M $57.4M $37.2M $25.6M $20M $20M US Europe South Korea Israel SEA Canada Cayman Islands Taiwan Note: Excludes funding information of China companies
  • 20. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201920 Trend of Average Deal Size ($M) $1.1 $3.1 $1.0 $1.1 $1.2 $3.2 2012 2013 2014 2015 2016 2017 2018 Blockchain Infrastructure > Investment Trends > Median Deal Size and Trend Median and Average Deal Size in $M (per Stage) in Blockchain Infrastructure; 2012-2018 Median Deal Size and Trend Note: Excludes funding information of Chinese companies. *Graph not to scale Median Deal Size and Range $20K* $32M $1.2M $107M $1.5M $55.2M $15M $120M $55M $20M $11.1M $1.4M Series C+ Series B Series A Seed Stage $5.3 $16.6 $23.9 $29.0 $26.0 $30.0 $100.0 $2.7 $17.0 $4.0 $24.8 $30.3 $16.4
  • 21. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Note: 189 companies with undisclosed funding amount are not included 21 <$1M $1-10M $10-50M $50-100M $100M+ Funding Range 22 40 27 7 5 No. of Companies Blockchain Infrastructure > Investment Trends > Distribution of companies by Funding Range No. of companies by funding range in Blockchain Infrastructure; as of Jul 2019 Distribution of companies by Funding Range $9M $147M $578M $447M $632M $ Investment
  • 22. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Stage No. of Companies Funding Funnel 100% 22% 5% 2% 0% 22 Note: Numbers in the brackets show the count of companies Time to raise next round 4 20 53 253 1131 Series C+ Series B Series A Funded Founded Next Round 100M+ Valuation Exits Acqui- Hired Dead Pooled Others 22% 2% (18) 1% (10) 0% (2) 4% (40) 74% (836) 21% 6% (14) 2% (6) 0% (1) 2% (6) 76% (193) 38% 19% (10) 6% (3) - 4% (2) 58% (31) 20% 35% (7) 5% (1) - - 80% (16) - 75% (3) - - - 50% (2) Blockchain Infrastructure > Investment Trends > Funding Funnel Number of companies progressing to subsequent funding stages in Blockchain Infrastructure Funding Funnel 12 Months 13 Months 29 Months Investment backedBootstrapped 7 3 9 3 5 4 Soonicorns Unicorns Acquisitions IPOs
  • 23. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201923 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months (1/5) LATE STAGE $120M - Series C Dec 2018 Waves Platform (2016, Moscow, $120M) Decentralized protocol for application development & token management Dolfin $80M - Series D Nov 2018 Bitfury (2012, San Francisco, $175M) Provider for Bitcoin mining hardware Korelya Capital, NAVER Corp, Macquarie Group, Armat Group, Jabre Capital, Foyer, Itech Capital, MACSF, LIANGroup, Dentsu Innovation Partners, Galaxy Capital Partners $15M - Series C Jun 2019 Helium (2006, San Francisco, $53.8M) Gateway for cryptocurrency mining Union Square Ventures, Multicoin Capital, Khosla Ventures, GV, FirstMark, Munich Re EARLY STAGE $62M - Series A Oct 2018 Algorand (2017, Boston, $66M) PoS Blockchain protocol Union Square Ventures, Pillar, China Merchants Bank, Slow Ventures, Eterna Capital $50M - Series B Feb 2019 ThunderCore (2017, Sunnyvale, $50M) Decentralized platform for the deployment of dApps Electric Capital, ZhenFund, Arrington XRP Capital, SV Angel, Pantera Capital, Hashed, Huobi Global, MetaStable Capital, FBG Capital $45M - Series B Jul 2018 Oasis Labs (2018, Berkeley, $45M) Decentralized cloud computing platform Andreessen Horowitz, Accel, Binance, Data Collective, Gaorong Capital, Electric Capital, Foundation Capital, Polychain EARLY STAGE $40M - Series B Jun 2018 Fantom (2018, Gangnam, $40M) DAG-based smart contracts Signum Capital, 8 Decimal Capital, Arrington XRP Capital, LinkVC, Nirvana Capital, JRR Crypto $35M - Series A Dec 2018 Conflux (2018, Singapore, $35M) Blockchain Protocol Layer IMO Ventures, Sequoia Capital, F2Pool, Huobi, Nirvana, Frees Fund, Shunwei Capital, Naval Ravikant, Baidu Ventures, MetaStable Capital $32M - Series B Aug 2018 Axoni (2016, New York City, $59M) Blockchain solutions for capital markets Andreessen Horowitz, Coatue, Y Combinator, Wells Fargo, NEX, Digital Currency Group, JPMorgan, Citigroup, FPrime Capital Partners, Franklin Templeton Investments, Goldman Sachs Investment Partners, Nyca, Goldman Sachs
  • 24. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201924 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months (2/5) EARLY STAGE $30M - Series B Feb 2019 Chainalysis (2014, Manhattan, $53.6M) Blockchain based payment fraud prevention & compliance solutions Accel, Benchmark $28.5M - Series A Apr 2018 Origin Protocol (2017, San Francisco, $31.5M) Blockchain platform for building decentralized marketplaces Blockasset Ventures, Foundation Capital, BlockTower, Smart Contract, FBG Capital, Kenetic, Hashed, Kamal Ravikant, Danhua Capital, Alexis Ohanian, Gil Penchina, Steve Jang, Turing, Continue Capital, 1kx, Spartan Group, PreAngel Fund, Beyond Blocks, Garry Tan, Alexis Ohanian, Randall Kaplan, Sora Ventures, Kindred Ventures, Cypher Capital $25M - Series B Nov 2017 Blockstream (2014, San Francisco, $101M) Blockchain development focused on sidechains innovation G Lab EARLY STAGE $22M - Series B Oct 2017 AION (2017, Toronto, $22M) Inter-blockchain operability network Nuco $20M - Series B Apr 2019 Provenance (2018, San Francisco, $20M) Public & distributed stakeholder blockchain for the financial services industry $20M - Series A Jan 2019 CasperLabs (2017, $20M) Blockchain based platform for sidechain development $20M - Series A Aug 2018 DEXON (2018, Taipei, $20M) Application development platform IDG Capital $18.9M - Series B May 2019 Alchemy (2018, San Francisco, $18.9M) Platform for blockchain and DApps development EARLY STAGE $16M - Series A Apr 2018 Chainalysis (2014, Manhattan, $53.6M) Blockchain based payment fraud prevention & compliance solutions Benchmark $16M - Series A Apr 2019 Coda (2018, San Francisco, $16M) Blockchain protocol for application development Accomplice, Coinbase Ventures, Paradigm, General Catalyst Partners, Polychain, Electric Capital $16M - Series A Jun 2019 Fireblocks (2018, New York City, $16M) Digital asset security platform CyberStarts, Tenaya Capital, Eight Roads Ventures, Swisscom, MState
  • 25. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201925 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months (3/5) EARLY STAGE $15M - Series A Sep 2018 Spacemesh (2017, Herzliya, $18M) Proof-of-Space-Time consensus protocol cryptocurrency Polychain, Paradigm Capital, MetaStable Capital, Arrington XRP Capital, Danhua Capital, Jack Herrick, Bain Capital, 1KX, Electric Capital, Collaborative Fund, Slow Ventures, Dekrypt Capital, BRM Group, gumi Cryptos, Gigi Levy-Weiss, IAngels, Coinbase Ventures $15M - Series A Feb 2019 CipherTrace (2016, Menlo Park, $18M) Forensics and investigation tools for Cryptocurrencies Aspect Ventures, Galaxy Digital, WestWave Capital, Neotribe EARLY STAGE $12.1M - Series A Jul 2019 NEAR (2018, San Francisco, $12.1M) Application development platform Accomplice, Electric Capital, MetaStable Capital, Pantera Capital, A Capital Venture, Coinbase Ventures, Xpring, Amplify Partners, Andrew Keys, Multicoin Capital, IDEO CoLab, Scalar Capital, Naval Ravikant $10M - Series A May 2019 QED-it (2016, Tel Aviv, $10M) Security platform for distributed ledgers MizMaa Ventures, RGAX, Meron, Collider, Jovono, Target Global, Ant Financial $9.8M - Series A Mar 2019 Tendermint (2015, San Francisco, $9.8M) Application development platform Bain Capital, 1confirmation, Paradigm Capital EARLY STAGE $8.9M - Series B May 2018 Blocko (2014, Seongnam-si, $14M) Blockchain development platform on cloud Samsung Venture Investment, Daesung Venture Investment, Wonik Investment Partners, Premier Partners, POSCO Capital, POSCO, SparkLabs $6M - Series B Apr 2019 Chainalysis (2014, Manhattan, $53.6M) Blockchain based payment fraud prevention & compliance solutions Mitsubishi UFJ Financial Group, Sozo Ventures $6M - Series A May 2019 Data Gumbo (2016, Houston, $9.3M) Blockchain as a service platform Saudi Aramco Energy Ventures, Equinor $5.5M - Series A Jun 2019 Clause (2015, New York City, $10.5M) Contract management solutions Galaxy Digital, DocuSign, Seedcamp, Raptor Group, Zach Weinberg, Nat Turner, Tom Gonser, Jonathan Summers
  • 26. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201926 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months (4/5) EARLY STAGE $5M - Series A May 2018 R3 (2013, New York City, $112M) Consortium of financial enterprises aiming to create digital ledger technology CLS Group $5M - Series A Jan 2018 Elliptic (2014, London, $11M) Bitcoin's blockchain intelligence & risk management company Paladin Capital, Santander InnoVentures, KRW Schindler, Digital Currency Group, Octopus Ventures $4.2M - Series A Dec 2018 Clause (2015, New York City, $10.5M) Contract management solutions $4M - Series A Jan 2018 Elliptic (2014, London, $11M) Bitcoin's blockchain intelligence & risk management company EARLY STAGE $4M - Series B Nov 2018 Axoni (2016, New York City, $59M) Blockchain solutions for capital markets Hsbc Series A Jun 2018 R3 (2013, New York City, $112M) Consortium of financial enterprises aiming to create digital ledger technology TIS SEED STAGE $32M - Seed Aug 2018 Terra (2018, Seoul, $32M) Decentralized financial infrastructure for payments OKEX, Huobi, TransLink Capital, Polychain, Hashed, FBG Capital, Kenetic, Arrington XRP Capital, 1kx, Dunamu & Partners, Binance $3M - Seed May 2018 Spacemesh (2017, Herzliya, $18M) Proof-of-Space-Time consensus protocol cryptocurrency BRM Group, IAngels, Bancor Protocol $3M - Seed May 2018 Witnet (2017, Madrid, $4.1M) Decentralized oracle network for smart contracts CounterPointe Ventures $3M - Seed Mar 2018 CipherTrace (2016, Menlo Park, $18M) Forensics and investigation tools for Cryptocurrencies Neotribe
  • 27. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201927 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months (5/5) SEED STAGE $1.7M - Seed Jan 2019 TRM (2018, San Francisco, $1.7M) Risk and compliance management solution for crypto companies Blockchain Capital, Tapas, Alumni Ventures Group, The MBA Fund, Green D Ventures $1.4M - Seed Dec 2017 Data Gumbo (2016, Houston, $9.3M) Blockchain as a service platform $1.1M - Seed Mar 2018 Witnet (2017, Madrid, $4.1M) Decentralized oracle network for smart contracts $220k - Seed Jan 2018 Dash (2015, Mexico City, $220k) Anonymous transaction service provider Seed May 2019 Terra (2018, Seoul, $32M) Decentralized financial infrastructure for payments LuneX SEED STAGE Seed Feb 2019 Terra (2018, Seoul, $32M) Decentralized financial infrastructure for payments Kakao Investment, Kakao Ventures Seed Jun 2018 QED-it (2016, Tel Aviv, $10M) Security platform for distributed ledgers MizMaa Ventures Seed Jun 2018 BlockRe (2017, New York City) Risk and compliance management for crypto-assets Plug and Play Tech Center Seed Mar 2018 Zilliqa (2017, Singapore) Public blockchain based on sharding technology NGC
  • 28. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201928 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Notable Investments in last 24 months in China Major funding rounds by Stage in Blockchain Infrastructure; Jul 2017-Jul 2019 Notable Investments in last 24 months in China LATE STAGE $560M - Series C Aug 2018 Bitmain (2013, Beijing, $950M) Bitcoin miner manufacturer specializing in ASICs EARLY STAGE $340M - Series B Jul 2018 Bitmain (2013, Beijing, $950M) Bitcoin miner manufacturer specializing in ASICs Sequoia Capital, Coatue, EDBI $234M - Series B Jun 2018 Fun Chain Technology (2016, Hangzhou, $234M) Blockchain-based solutions for enterprises Xinhu Zhongbao, SDIC $50M - Series A Sep 2017 Bitmain (2013, Beijing, $950M) Bitcoin miner manufacturer specializing in ASICs Sequoia Capital, IDG Capital, ING $40M - Series A Sep 2018 Cocos-BCX (2017, Beijing, $40M) App development platform for building decentralized games NGC, 500 Startups, Binance EARLY STAGE $30M - Series B Nov 2018 AERGO (2018, Hong Kong, $38.9M) SQL-based smart contract protocol Sequoia Capital, GBIC, NGC, Dekrypt Capital, JRR Crypto, FBG Capital, Arrington XRP Capital, Block Crafters Capital, Rockaway Capital $28M - Series A Jul 2018 Nervos Network (2018, Hangzhou, $28M) Suite of interoperable protocols for dApps Polychain, Sequoia Capital, Bixin, imToken, Blockchain Capital, Matrix Partners China, Ceyuan Investment Consulting, FBG Capital, Multicoin Capital, Dekrypt Capital, 1confirmation
  • 29. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Most Active Investors (VC, PE) by Stage in Blockchain Infrastructure; Last 5 years (Jul 2014-Jul 2019) Most Active VC & PE Investors 29 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investment Trends > Most Active VC & PE Investors SEED STAGE Digital Currency Group (8 Investments) Chainalysis, Blockstack, Horizen Labs 1 Kenetic(4 Investments) Terra, TransitNet, Merkle Science 2 Blockchain Capital (3 Investments) Blockstream, BlockCypher, TRM 3 KR1(3 Investments) Enigma, Cosmos, Ethereum 4 Dunamu & Partners (3 Investments) Terra, Band Protocol, CodeChain 5 Andreessen Horowitz (2 Investments) dYdX, Chia Network 6 Canaan Partners(2 Investments) SKALE Labs, Tari 7 Union Square Ventures(2 Investments) Algorand, Blockstack 8 SV Angel (2 Investments) Blockstack, Nebulous 9 AME Cloud Ventures(2 Investments) Blockstream, BlockCypher 10 EARLY STAGE Digital Currency Group (4 Investments) Blockchain, Axoni, Elliptic 1 Pantera Capital(4 Investments) ThunderCore, Chain, NEAR 2 Accel (3 Investments) Chainalysis, Oasis Labs, KnCMiner 3 Andreessen Horowitz (3 Investments) Axoni, Oasis Labs, TradeBlock 4 Khosla Ventures(3 Investments) Helium, Chain, Synthetic Minds 5 Coinbase Ventures (3 Investments) Spacemesh, Coda, NEAR 6 GV (2 Investments) Blockchain, Helium 7 Foundation Capital (2 Investments) Oasis Labs, Origin Protocol 8 SV Angel (2 Investments) ThunderCore, Chain 9 RRE Ventures(2 Investments) Ripple, Chain 10 LATE STAGE Union Square Ventures Helium 1 Pantera Capital Cypherium 2 Armat Group Bitfury 3 Korelya Capital Bitfury 4
  • 30. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201930 Blockchain Infrastructure > Investment Trends > Most Active Ecosystem Investors Top Ecosystem Investors in Blockchain Infrastructure; Last 5 years (Jul 2014-Jul 2019) Most Active Ecosystem Investors INCUBATOR/ACCELERATOR 500 Startups(6 Investments) Chain, BlockCypher, Skry 1 Plug and Play Tech Center(5 Investments) QED-it, Blockdaemon, Stellar 2 Boost VC(5 Investments) Witnet, BlockCypher, SKALE Labs 3 Techstars(4 Investments) Chainalysis, Loom Network, Transmute 4 The Hive(4 Investments) Blockstream, Lightning Labs, Skry 5 Y Combinator(3 Investments) Axoni, TradeBlock, Synthetic Minds 6 Entrepreneur First(2 Investments) AZTEC protocol, Merkle Science 7 MState(2 Investments) Fireblocks, Blockdaemon 8 Jerusalem Venture Partners Valid Network 9 Fifth Era Zcash Electric Coin Company 10 OTHER NOTABLE INVESTORS Arrington XRP Capital(7 Investments) ThunderCore, Fantom, Terra 1 Polychain(6 Investments) Oasis Labs, Terra, Spacemesh 2 MetaStable Capital(6 Investments) ThunderCore, Oasis Labs, Conflux 3 Electric Capital(5 Investments) ThunderCore, Oasis Labs, Spacemesh 4 Multicoin Capital(5 Investments) Helium, NEAR, dfuse 5 Danhua Capital(4 Investments) Origin Protocol, Spacemesh, Chia Network 6 FBG Capital(4 Investments) ThunderCore, Terra, Origin Protocol 7 INBlockchain(4 Investments) Nebulous, Logos Network, Adrealm 8 CoinFund(3 Investments) Kadena, The Graph, GEO Protocol 9 Wells Fargo(2 Investments) R3, Axoni 10 DEBT INVESTORS Galaxy Digital(2 Investments) CipherTrace, Clause 1 Macquarie Group Bitfury 2
  • 31. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201931 Blockchain Infrastructure > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (1/3)
  • 32. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201932 Blockchain Infrastructure > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (2/3)
  • 33. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201933 Blockchain Infrastructure > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (3/3)
  • 34. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201934 Blockchain Infrastructure > Investment Trends > Unicorn Investors in the Sector Unicorn Investors in the Sector
  • 35. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Marketplaces - India Jul 2019 Vernacular Platforms Jun 2019 Productivity Software Jun 2019
  • 36. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 36 Key Sub Sectors Detailed Sector Taxonomy Top Markets of Investment Activity Top Markets of Early Stage Investors Other Notable Markets Market Deep Dive
  • 37. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Key Sub Sectors 37 Key Sub Sectors in Blockchain Infrastructure Market Top Companies # Cos Tracked # Funded Total Funding Blockchain Network Companies offering protocols for building blockchain-based solutions Waves Platform (2016, Moscow, $120M) R3 (2013, New York City, $112M) 240 73 $698M Application Development Platforms Companies which offer application development platform on top of third-party blockchains Hedera Hashgraph (2018, Richardson, $124M) ThunderCore (2017, Sunnyvale, $50M) 324 83 $407M Mining Companies that provide services & solutions for mining in the blockchain ecosystem Bitfury (2012, San Francisco, $175M) Helium (2006, San Francisco, $53.8M) 185 17 $287M Enablers Companies offering solutions to maintain the ecosystem of blockchain and its applications Blockchain (2011, London, $70M) Chainalysis (2014, Manhattan, $53.6M) 196 39 $230M Middleware Companies offering infrastructure solutions which adding functionalities of an existing blockchain network Blockstream (2014, San Francisco, $101M) CasperLabs (2017, $20M) 77 23 $166M Smart Contracts Companies enabling digitized agreements on a public ledger using blockchain technology Clause (2015, New York City, $10.5M) Data Gumbo (2016, Houston, $9.3M) 109 18 $24.7M Blockchain Infrastructure > Market Details > Key Sub Sectors
  • 38. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Detailed Sector Taxonomy (1/2) 38 Blockchain Infrastructure > Market Details > Detailed Sector Taxonomy
  • 39. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Detailed Sector Taxonomy (2/2) 39 Blockchain Infrastructure > Market Details > Detailed Sector Taxonomy
  • 40. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Rank Market Last 2 Years $ Invested # Round Top Funded Company 1 (-) Application Development Platforms Companies which offer application development platform on top of third-party blockchains (Companies covered 324 | Funded 83 | Total Funding $407M) $199M (+$149M) 30 (+20) ThunderCore (2017, Sunnyvale, $50M) 2 (-) Blockchain Network Companies offering protocols for building blockchain-based solutions (Companies covered 166 | Funded 52 | Total Funding $379M) $251M (+$137M) 25 (+16) Algorand (2017, Boston, $66M) 3 (-) Blockchain Network > Finance Companies offering blockchain protocols for the finance industry (Companies covered 74 | Funded 21 | Total Funding $319M) $198M (+$121M) 14 (+10) Waves Platform (2016, Moscow, $120M) 4 (+3) Enablers > Security > Compliance and Risk Management Companies providing solutions for maintaining risk and compliance management for Blockchain infrastructure (Companies covered 42 | Funded 15 | Total Funding $75.5M) $69.6M (+$65.9M) 11 (+7) Chainalysis (2014, Manhattan, $53.6M) 5 (+4) Enablers > Security Companies which offer security solutions to the blockchain infrastructure (Companies covered 43 | Funded 16 | Total Funding $61.8M) $53.6M (+$53.6M) 11 (+11) Fireblocks (2018, New York City, $16M) 6 (-1) Mining > Hardware Companies that provide blockchain mining hardware such as FPGA and ASIC machines (Companies covered 124 | Funded 15 | Total Funding $233M) $86M (+$53M) 4 (+2) Bitfury (2012, San Francisco, $175M) 7 (-1) Middleware > Sidechain Companies enabling sidechain innovation for the blockchain protocols (Companies covered 38 | Funded 14 | Total Funding $140M) $64.4M (+$9.4M) 7 (+6) Blockstream (2014, San Francisco, $101M) 40 Note: The numbers in the bracket represent the change in a 2 year period. Top Markets of Investment Activity (1/2) Top Markets by Funding in Blockchain Infrastructure in last 2 years (July 2017 - June 2019) Blockchain Infrastructure > Market Details > Top Markets of Investment Activity
  • 41. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201941 Top Markets of Investment Activity (2/2) Blockchain Infrastructure > Market Details > Top Markets of Investment Activity
  • 42. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Rank Market # Investments Key Investments 1 Blockchain Network Companies offering protocols for building blockchain-based solutions (Companies created 166 | Funded 52 | Total Funding $379M ) 2 Oasis Labs (2018, Berkeley, $45M) Conflux (2018, Singapore, $35M) 2 Application Development Platforms Companies which offer application development platform on top of third-party blockchains (Companies created 324 | Funded 83 | Total Funding $407M ) 2 ThunderCore (2017, Sunnyvale, $50M) Coda (2018, San Francisco, $16M) 3 Enablers > Security > Compliance and Risk Management Companies providing solutions for maintaining risk and compliance management for Blockchain infrastructure (Companies created 42 | Funded 15 | Total Funding $75.5M ) 2 Chainalysis (2014, Manhattan, $53.6M) 4 Enablers > Security Companies which offer security solutions to the blockchain infrastructure (Companies created 43 | Funded 16 | Total Funding $61.8M ) 1 Synthetic Minds (2018, San Francisco, $5.6M) Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures 42 Top Markets of Early Stage Investors Top Markets where Early Stage Investors are investing in last 2 years (July 2017 - June 2019) Blockchain Infrastructure > Market Details > Top Markets of Early Stage Investors
  • 43. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Rank Market Last 2 Years # of Comp Founded $ Invested # Round Top Funded Company 1 Enablers > Blockchain Explorer Companies providing information and analysis related to the blocks which are mined or added in the blockchain (Companies covered 111 | Funded 8 | Total Funding $92.7M) 72 $0 (0) 0 (-) Skry (2014, Palo Alto, $1.3M) 43 Other Notable Markets Other Notable Markets with high Entrepreneurial Activity in Blockchain Infrastructure in last 2 years (July 2017 - June 2019) Blockchain Infrastructure > Market Details > Other Notable Markets
  • 44. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Incubators Techstars (#2), 500 Startups (#2) Seed Digital Currency Group (#2), INBlockchain (#2) Series A/B Pantera Capital (#3), Electric Capital (#3) Series C+ Coinplay Mar - 2019 Acq by TRON Chain Sep - 2018 Acq by Lightyear for $500M $12.1M - Series A NEAR (2018, San Francisco, $12.1M) Series A Finboot (2016, Barcelona) $18.9M - Series B Alchemy (2018, San Francisco, $18.9M) $16M - Series A Coda (2018, San Francisco, $16M) Seed Blockdaemon (2017, Brooklyn, $3.8M) $9.8M - Series A Tendermint (2015, San Francisco, $9.8M) Seed Computable Labs (2017, San Francisco) $50M - Series B ThunderCore (2017, Sunnyvale, $50M) $750k - Seed Pocket Network (2018, Tampa, $750k) Jul 2019 REPEAT - Interbit™ Announces a Product Strategy Update and Contract Signed With Xinova, LLC, GlobeNewswire Jul 2019 SEC Approves First Blockchain Firm for Regulation A+ Funding, Finance Magnates Jul 2019 Near Raises $12.1M in Funding, FinSMEs Jul 2019 Former Enercare Ceo John Macdonald Joins Parity As Chair Of The Board, BetaKit Jul 2019 Crowd Machine Celebrates Growth of Crowd Academy with New Enhancements, PR Newswire Jul 2019 YGGDRASH TestNet Beta Release Creates Movements in the Crypto Market, Newswire Jul 2019 Finboot Secured an Investment from Repsol and Blockchain Solution Contract, Financial IT Jun 2019 LG Uses Kakao’s Enterprise-based Blockchain dApp Ecosystem, Coinspeaker Jun 2019 Kakao launches blockchain platform for enterprise service, Korea Herald Jun 2019 Celer and Wyre Partner for Zero Fee Mobile dApps with Liquidity, Business Wire Jun 2019 Metaverse Capital set to play leading role in Elixxir's payment and communications network, Proactive Investors Jun 2019 EOS Blockchain Developer Block.one Purchased Voice.com Domain Name For $30M USD, BlockTribune Apr 2019 Coda Protocol raises $16M to build out its tiny blockchain, SiliconAngle News 4 4 18 83 324 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Application Development Platforms: Market Factsheet 44 Exits Most Active Investors Recent InvestmentsCompanies which offer application development platform on top of third-party blockchains Hedera Hashgraph (2018, Richardson, $124M) ThunderCore (2017, Sunnyvale, $50M) Chain (2014, San Francisco, $44M) Origin Protocol (2017, San Francisco, $31.5M) DEXON (2018, Taipei, $20M) Top Companies #1 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Application Development Platforms Companies Created 324 | Funded 83 | Total Funding $407M 0 20 40 $0k $100M $200M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Application Development Platforms
  • 45. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201945 Application Development Platforms: Top Companies Blockchain Infrastructure > Market Details > Market: Application Development Platforms #1 Top Markets of Investment Activity Market: Application Development Platforms (1/4) Analyst’s Pick Hedera Hashgraph (2018, Richardson, $124M) Application development platform Unicorn. Stage: Funded Digital Currency Group, BlockTower, Team In Residence and 7 Other Investors ThunderCore (2017, Sunnyvale, $50M) Decentralized platform for the deployment of dApps Minicorn. Stage: Series B Electric Capital, ZhenFund, Arrington XRP Capital and 17 Other Investors Chain (2014, San Francisco, $44M) Application development platform for financial services industry Soonicorn. Stage: Acquired Fiserv, Nasdaq, Visa and 23 Other Investors Origin Protocol (2017, San Francisco, $31.5M) Blockchain platform for building decentralized marketplaces Soonicorn. Stage: Series A Blockasset Ventures, Foundation Capital, BlockTower and 26 Other Investors Analyst’s Pick DEXON (2018, Taipei, $20M) Application development platform Minicorn. Stage: Series A IDG Capital Alchemy (2018, San Francisco, $18.9M) Platform for blockchain and DApps development Minicorn. Stage: Series B Coda (2018, San Francisco, $16M) Blockchain protocol for application development Minicorn. Stage: Series A Accomplice, Coinbase Ventures, Paradigm and 3 Other Investors Blocko (2014, Seongnam-si, $14M) Blockchain development platform on cloud Minicorn. Stage: Series B Samsung Venture Investment, Daesung Venture Investment, Wonik Investment Partners and 5 Other Investors Analyst’s Pick NEAR (2018, San Francisco, $12.1M) Application development platform Minicorn. Stage: Series A Accomplice, Electric Capital, MetaStable Capital and 11 Other Investors Tendermint (2015, San Francisco, $9.8M) Application development platform Minicorn. Stage: Series A Bain Capital, 1confirmation, Paradigm Capital Blockstack (2015, New York City, $6.8M) blockchain application development platform Editor's Pick. Stage: Series A Union Square Ventures, SV Angel, High Line Venture Partners and 19 Other Investors PDX Blockchain (2015, $4.4M) Application development platform Editor's Pick. Stage: Seed Lenovo Venture Capital, Kunzhong Capital
  • 46. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201946 Application Development Platforms: Top Companies Blockchain Infrastructure > Market Details > Market: Application Development Platforms #1 Top Markets of Investment Activity Market: Application Development Platforms (2/4) Analyst’s Pick Blockdaemon (2017, Brooklyn, $3.8M) Blockchain deployment solution Editor's Pick. Stage: Seed Lerer Hippeau Ventures, BoldStart Ventures, MState and 7 Other Investors BlockCypher (2013, Redwood City, $3.5M) Cloud-optimized full blockchain nodes Minicorn. Stage: Seed Fenox Venture Capital, Upside Partnership, AME Cloud Ventures and 14 Other Investors Band Protocol (2017, Tortola, $3M) Application development platform for building token-curated communities Editor's Pick. Stage: Seed Sequoia Capital, Dunamu & Partners Orb (2014, Tokyo, $2.3M) Community cryptocurrency platform for businesses Editor's Pick. Stage: Seed SBI Holdings, Adways, Monex Ventures and 2 Other Investors Analyst’s Pick Userfeeds.io (2016, Warsaw, $450k) The Content Ranking System for Blockchain Communities. Editor's Pick. Stage: Seed Adrealm (2018, Singapore) Application development platform for the advertising industry Editor's Pick. Stage: Seed INBlockchain, Bo Shen, Jian Sun, Block Crafters Capital AI Crypto (2018, Singapore) AI-based decentralized economy for the development of the AI industries Editor's Pick. Stage: Unfunded Alpha Fintech (2011, Dublin) Omnichannel payment solution access platform Editor's Pick. Stage: Unfunded Bcoin (2015, San Francisco) Application development platform Editor's Pick. Stage: Funded Digital Finance Group Analyst’s Pick BetProtocol (2018, Sintra) Blockchain-based betting solutions Editor's Pick. Stage: Funded Shilling Capital Blk Technologies (2017, London) Enterprise blockchain Middleware Editor's Pick. Stage: Unfunded BlockCluster (2018, San Mateo) Application development platform Editor's Pick. Stage: Unfunded Blocknative (2018, San Francisco) DApp development platform Editor's Pick. Stage: Funded Foundry Group, Overtly Covert Cartesi (2018, Taipei) Application development platform Editor's Pick. Stage: Seed Chinaccelerator Catalyst Protocol (2018, London) Decentralized app development layer focused on distribution of content Editor's Pick. Stage: Unfunded
  • 47. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201947 Application Development Platforms: Top Companies Blockchain Infrastructure > Market Details > Market: Application Development Platforms #1 Top Markets of Investment Activity Market: Application Development Platforms (3/4) Analyst’s Pick Celer Network (2018, Mountain View) Application development platform Editor's Pick. Stage: Funded Pantera Capital, NGC, 500 Startups and 4 Other Investors Chainstack (2018, Singapore) Application developement platform Editor's Pick. Stage: Unfunded Circularise (2016, The Hague) Blockchain-based solution to trace raw materials Editor's Pick. Stage: Unfunded Clovyr (2018, New York City) Application development platform Editor's Pick. Stage: Unfunded Coinweb (2018, London) Platform for connecting multiple blockchains Editor's Pick. Stage: Unfunded CSE30 (2018, Singapore) Blockchain based application development platform Editor's Pick. Stage: Unfunded Analyst’s Pick DNotes Global (2014, Chicago) Application development platform Editor's Pick. Stage: Unfunded EOS42 (2018, London) Blockchain based EOS mainnet Editor's Pick. Stage: Unfunded Fintech Server (2017, Braga) Application development platform Editor's Pick. Stage: Funded Cloud Money Ventures Huobi Cloud (2018, Singapore) Development platform for digital asset exchange Editor's Pick. Stage: Unfunded Hydrogen (2018, New York City) APIs for building fintech applications Editor's Pick. Stage: Seed SixThirty, AlphaCoin Fund, MiddleGame Ventures, Route 66 Ventures Jelurida (2016, Lugano) Application development platform Editor's Pick. Stage: Unfunded Analyst’s Pick Kaleido (2017, Raleigh) Blockchain business cloud to create blockchain networks Editor's Pick. Stage: Unfunded Katallassos (2018, Zug) Application development platform Editor's Pick. Stage: Unfunded Komodo (2016, Wakefield) Decentralized platform for blockchain development and ICO launch Editor's Pick. Stage: Funded Blockchain R&I KrypC Technologies (2016, Bangalore) Full stack Blockchain solution Editor's Pick. Stage: Unfunded LedgerDomain (2016, Las Vegas) Application development platform Editor's Pick. Stage: Unfunded Mobilechain (2018, Netanya) Blockchain platform for mobile apps Editor's Pick. Stage: Funded Blocore
  • 48. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201948 Application Development Platforms: Top Companies Blockchain Infrastructure > Market Details > Market: Application Development Platforms #1 Top Markets of Investment Activity Market: Application Development Platforms (4/4) Analyst’s Pick nOS (2018, Amsterdam) Virtual operating system Editor's Pick. Stage: Funded Ledger Capital PDX (2015) Blockchain infrastructure as a service Editor's Pick. Stage: Series A Lenovo Venture Capital, Kunzhong Capital, Pagoda Investment and 9 Other Investors Portis (2018, Tel Aviv) Application development platform Editor's Pick. Stage: Funded F2 Capital Slingr (2011, Denver) App Builder Platform Editor's Pick. Stage: Funded SpaceChain (2017, Singapore) Decentralized satellite network Editor's Pick. Stage: Unfunded Splend (2016, Palo Alto) Application development platform Editor's Pick. Stage: Unfunded Analyst’s Pick Stratis Platform (2016, London) Blockchain development platform Editor's Pick. Stage: Funded BlockGrounds, Blockchain R&I Swipe (2018, Sao Paulo) Financial application development platform Editor's Pick. Stage: Unfunded Tari (2017, Oakland) Blockchain protocol for digital assets built on Monero Editor's Pick. Stage: Seed Canaan Partners, Applied Crypto Ventures, Bee Partners and 8 Other Investors
  • 49. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 49 Application Development Platforms: Leaderboard Blockchain Infrastructure > Market Details > Market: Application Development Platforms #1 Top Markets of Investment Activity Better than Market Average Market: Application Development Platforms Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 Fetch.AI 2017 Cambridge Series A $15M 2 - - - 4 9.6k - - - - - 7.5k 359% 4.7 Chain 2014 San Francisco Acquired $44M 4 - - - - 280 - - - - - 74 36% 4.6 Origin Protocol 2017 San Francisco Series A $31.5M 2 5 5 - 4 14.5k 300 2 - - - 521 4% 4.3 Hedera Hashgraph 2018 Richardson Funded $124M - 5 5 - 4 30.4k 3k 27 - - - 2.3k 8% 4.1 BlockCypher 2013 Redwood City Seed $3.5M 2 - - - - 7.3k - - - - - 170 2% 4.1 Stratis Platform 2016 London Funded - 1 5 5 - - 138k 11k 185 1 4 2% 752 1% 4.1 Blockstack 2015 New York City Series A $6.8M 3 - - - - 301 - - 1 - - 8 3% 4.0 Parity Technologies 2015 London Funded - 1 5 - - 3 30.3k - - 1 - - 1.6k 5% 4.0 Stratumn 2015 Paris Series A $9.7M 3 - - - - 1.8k - - - - - 42 2% 3.8 Blockdaemo n 2017 Brooklyn Seed $3.8M 3 - - - 3 1.1k - - - - - 196 23% 3.8 ThunderCor e 2017 Sunnyvale Series B $50M 1 5 - - 3 7.8k - - - - - - - 3.7 Komodo 2016 Wakefield Funded - 1 - 4 - 2 98.1k 3k 77 1 - - 3.3k 3% 3.7 BlockMason 2016 George Town Unfunded - - - 5 - 4 11k 8k 123 - 6 5% 993 10%
  • 50. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Incubators Pillar (#1), Fintech71 (#1) Seed KR1 (#3), Multicoin Capital (#2) Series A/B MetaStable Capital (#2), Arrington XRP Capital (#2) Series C+ Tymlez Nov - 2018 IPO'd on ASX RSK Labs Nov - 2018 Acq by rifos.org $3.5M - Seed dfuse (2018, Montreal, $3.5M) $2.5M - Seed The Graph (2004, San Francisco, $2.5M) $35M - Series A Conflux (2018, Singapore, $35M) $6M - Series A Dispatch (2017, San Francisco, $18M) $62M - Series A Algorand (2017, Boston, $66M) Seed NULS (2017, San Jose) $15M - Series A Spacemesh (2017, Herzliya, $18M) Seed XCHNG (2017, George Town) Seed DREP Foundation (2017, Singapore) $45M - Series B Oasis Labs (2018, Berkeley, $45M) Jul 2019 R3 launches blockchain developer toolkit for business tokens on Corda, SiliconAngle Jul 2019 YAO Network: An Outlier Set to Disrupt the Blockchain Status Quo, AiThority Jul 2019 Wall Street-Backed Blockchain Consortium R3 on Its IPO Consideration, Coinspeaker Jul 2019 Dapp Devs Can Now Pay Users’ Fees in Icon Network’s New Fee Model, Finance Magnates Jul 2019 YAO Network Makes BaaS 3.0 a Reality, PR Newswire Jul 2019 Coinsilium inks agreement to promote RSK network in Southeast Asia, Proactive Investors Jul 2019 YES Bank brings blockchain efficiency to Indian corporate debt market, Finextra Jul 2019 R3 and GoldGram Partner to Develop GGC GoldGramCoin Token for R3’s Corda Blockchain Platform, Financial IT Jul 2019 Blox.io Becomes First Crypto Accounting Platform To Integrate Zilliqa Blockchain, Fintech Finance Jul 2019 BTG Pactual and Dalma Capital: Adopt Tezos for STOs, FinTechInShorts Jul 2019 Tokensoft Platform Now Supporting Security Tokens on the Tezos Blockchain, Crowdfund Insider Jul 2019 Breaking Blockchain: NULS Codes Blockchains So Developers Don’t Have To, Business Wire Jul 2019 Raw Technology joins RSK Group, Private Equity Wire Jun 2019 dfuse Secures US$3.5M in Seed Funding, FinSMEs News 3 - 10 52 166 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Blockchain Network: Market Factsheet 50 Exits Most Active Investors Recent InvestmentsCompanies offering protocols for building blockchain-based solutions R3 (2013, New York City, $112M) Algorand (2017, Boston, $66M) Oasis Labs (2018, Berkeley, $45M) Fantom (2018, Gangnam, $40M) Conflux (2018, Singapore, $35M) Top Companies #2 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Blockchain Network Companies Created 166 | Funded 52 | Total Funding $379M 0 20 40 $0k $200M $400M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Blockchain Network
  • 51. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201951 Blockchain Network: Top Companies Blockchain Infrastructure > Market Details > Market: Blockchain Network #2 Top Markets of Investment Activity Market: Blockchain Network (1/4) Analyst’s Pick R3 (2013, New York City, $112M) Consortium of financial enterprises aiming to create digital ledger technology Soonicorn. Stage: Series A YES BANK, TIS, CLS Group and 12 Other Investors Algorand (2017, Boston, $66M) PoS Blockchain protocol Editor's Pick. Stage: Series A Union Square Ventures, Pillar, China Merchants Bank and 9 Other Investors Oasis Labs (2018, Berkeley, $45M) Decentralized cloud computing platform Editor's Pick. Stage: Series B Andreessen Horowitz, Accel, Binance and 17 Other Investors Fantom (2018, Gangnam, $40M) DAG-based smart contracts Minicorn. Stage: Series B Signum Capital, 8 Decimal Capital, Arrington XRP Capital and 6 Other Investors Analyst’s Pick Conflux (2018, Singapore, $35M) Blockchain Protocol Layer Editor's Pick. Stage: Series A IMO Ventures, Sequoia Capital, F2Pool and 7 Other Investors AION (2017, Toronto, $22M) Inter-blockchain operability network Editor's Pick. Stage: Series B Nuco, BlockGrounds, Youbi Capital and 8 Other Investors Spacemesh (2017, Herzliya, $18M) Proof-of-Space-Time consensus protocol cryptocurrency Minicorn. Stage: Series A Polychain, Paradigm Capital, MetaStable Capital and 17 Other Investors Dispatch (2017, San Francisco, $18M) Protocol blockchain based on delegated asynchronous proof of stake consensus mechanism Editor's Pick. Stage: Series A Fenbushi Digital Analyst’s Pick Chia Network (2017, San Francisco, $3.4M) Blockchain based on proofs of space & time Editor's Pick. Stage: Seed Naval Ravikant, Greylock Partners, DCM Ventures and 5 Other Investors Kadena (2016, New York City, $2.9M) Private distributed ledger technology solutions for enterprises Editor's Pick. Stage: Seed CoinFund, Asimov Ventures, Youbi Capital and 3 Other Investors The Graph (2004, San Francisco, $2.5M) Query protocol for blockchains Editor's Pick. Stage: Seed Multicoin Capital, Compound, CoinFund and 2 Other Investors Enigma (2016, San Francisco, $1.4M) Privacy focused blockchain Editor's Pick. Stage: Seed Floodgate Fund, KR1, Pantera Capital and 5 Other Investors
  • 52. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201952 Blockchain Network: Top Companies Blockchain Infrastructure > Market Details > Market: Blockchain Network #2 Top Markets of Investment Activity Market: Blockchain Network (2/4) Analyst’s Pick Integrity (2018, Toronto) Blockchain protocol layer Minicorn. Stage: Unfunded Tezos (2014, Zug) Distributed consensus platform with meta- consensus capability Minicorn. Stage: Funded Boost VC, Hashchain Capital, Draper Associates and 4 Other Investors Zilliqa (2017, Singapore) Public blockchain based on sharding technology Minicorn. Stage: Seed NGC, Jubilee Capital Management, SEED Venture Capital and 12 Other Investors AI-BlockChain (2014, New York City) AI enhanced blockchain solution provider. Editor's Pick. Stage: Unfunded ATUMprotocol (2017, Menlo Park) Cross-chain swap platform Editor's Pick. Stage: Unfunded Analyst’s Pick Auxledger (2017, Mumbai) Enterprise Grade Blockchain Infrastructure Editor's Pick. Stage: Unfunded Belrium (2017, Kuala Lumpur) KYC-compliant blockchain Editor's Pick. Stage: Unfunded Bitcoin Cash (2017, Los Angeles) Peer-to-Peer Electronic Cash Editor's Pick. Stage: Unfunded Blaze (2018, Indore) Block-lattice protocol for development of DApps Editor's Pick. Stage: Unfunded Cardano (2017, Zug) Permissioned blockchain with smart contract facility Editor's Pick. Stage: Funded Blockchain R&I, Ledger Capital, Rhapsody Ventures, NTechPro Constellation (2017, San Francisco) Enterprise software protocol for data provenance Editor's Pick. Stage: Unfunded Analyst’s Pick Devvio (2018, Albuquerque) Open source protocol for transfer of value Editor's Pick. Stage: Unfunded DREP Foundation (2017, Singapore) Decentralized reputation ecosystem Editor's Pick. Stage: Seed KuCoin, Blockox Fund, 08 Capital and 2 Other Investors Eleven01 (2018, St. Julians) Blockchain protocol layer Editor's Pick. Stage: Unfunded Ethereum (2013, Toronto) Blockchain protocol supporting smart contracts Editor's Pick. Stage: Series A DJ Yakisoba Capital Partners, KR1, Hooklabs and 23 Other Investors Fleta (2018) Blockchain based infrastructure platform Editor's Pick. Stage: Unfunded
  • 53. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201953 Blockchain Network: Top Companies Blockchain Infrastructure > Market Details > Market: Blockchain Network #2 Top Markets of Investment Activity Market: Blockchain Network (3/4) Analyst’s Pick Icon Foundation (2017, Yeongdeungpo) Proprietary blockchain to connect multiple governance bodies Editor's Pick. Stage: Funded Hooklabs, The Ventures, 08 Capital and 11 Other Investors ICONLOOP (2016, Seoul) Distributed ledger for hyperconnected society Editor's Pick. Stage: Unfunded Insolar (2017, Tortola) Enterprise-grade blockchain platform for interactions between companies Editor's Pick. Stage: Unfunded IOST (2017, Singapore) Enterprise-grade blockchain infrastructure for online services Editor's Pick. Stage: Funded Metropolis VC, Blockchain R&I, AlphaCoin Fund, BitBlock Group Ixian DLT (2017, Ljubljana) Blockchain-based protocol layer Editor's Pick. Stage: Unfunded Analyst’s Pick Lisk (2016, London) Platform for decentralized applications and sidechains Editor's Pick. Stage: Funded Whales Capital, Blockchain R&I, CV VC Marconi (2017, San Francisco) Blockchain based ethernet protocol Editor's Pick. Stage: Funded NGC mijin (2015, Tokyo) Blockchain-based protocol layer Editor's Pick. Stage: Unfunded MOAC (2017, Menlo Park) Multi-blockchain software for development of smart contracts and dApps Editor's Pick. Stage: Funded Blockchain R&I, Outpost Capital Nebl (2017, Washington D.C.) Blockchain network Editor's Pick. Stage: Funded ValueNet Capital Analyst’s Pick Neurochain (2017, Neuilly-sur-seine) Blockchain powered by Machine Learning Editor's Pick. Stage: Unfunded NULS (2017, San Jose) Protocol blockchain for enterprise solutions Editor's Pick. Stage: Seed Ulysses Capital, Hach Capital Onai (2001, San Francisco) Blockchain-based solution for distributed computation Editor's Pick. Stage: Seed Resolute Ventures, Social Starts Quadrant (2018, Singapore) Blockchain-based data protocol Editor's Pick. Stage: Unfunded RChain (2017, Seattle) Protocol blockchain powered by Rho Virtual Machine Editor's Pick. Stage: Funded DNA, Blockchain R&I, Block0 and 3 Other Investors
  • 54. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201954 Blockchain Network: Top Companies Blockchain Infrastructure > Market Details > Market: Blockchain Network #2 Top Markets of Investment Activity Market: Blockchain Network (4/4) Analyst’s Pick Sumcoin (2018) P2P digital currency Editor's Pick. Stage: Unfunded SymVerse (2018, Gimpo-si) Decentralized peer-to-peer blockchain network Editor's Pick. Stage: Unfunded Telegram ICO (2017) Protocol blockchain for social networking Editor's Pick. Stage: Unfunded Truebit (2017, Brooklyn) Verification solution for blockchain Editor's Pick. Stage: Unfunded
  • 55. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 55 Blockchain Network: Leaderboard Blockchain Infrastructure > Market Details > Market: Blockchain Network #2 Top Markets of Investment Activity Better than Market Average Market: Blockchain Network Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 Algorand 2017 Boston Series A $66M 2 - - - 4 10.4k - - 1 - - 5.2k 101% 4.8 Oasis Labs 2018 Berkeley Series B $45M 1 5 - - 4 6.8k - - 1 - - 841 14% 4.4 billon 2012 Warsaw Series A $5M 4 - - - 4 536 - - - - - 62 13% 4.3 Fantom 2018 Gangnam Series B $40M 1 - - - 3 17.2k - - - - - 6.7k 63% 4.2 RSK Labs 2015 Buenos Aires Acquired $3.5M 1 - - - - 3.7k - - 3 - - 219 6% 4.1 Spacemesh 2017 Herzliya Series A $18M 2 - - - 3 1.2k - - - - - 252 28% 4.0 R3 2013 New York City Series A $112M 4 - - - 4 162 - - 3 - - -1 -1% 4.0 Zilliqa 2017 Singapore Seed - 2 4 - - 3 65.5k - - 3 - - 10.8k 20% 3.9 Chia Network 2017 San Francisco Seed $3.4M 2 5 - - 4 3.7k - - - - - 308 9% 3.9 Bloq 2015 Chicago Seed - 1 - - - - 6.6k - - - - - 339 5% 3.8 Enigma 2016 San Francisco Seed $1.4M 3 - - - 4 61.9k - - - - - 465 1% 3.8 Tezos 2014 Zug Funded - 1 - - - - 544 - - 3 - - 52 11% 3.7 Cosmos 2016 San Francisco Seed - 1 - - - - 7.2k - - - - - 395 6% 3.7 Dispatch 2017 San Francisco Series A $18M 1 5 5 3 4 15.1k 300 8 - - - - -
  • 56. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Incubators Y Combinator (#1), Fifth Era (#1) Seed Andreessen Horowitz (#1), Polychain (#2) Series A/B Digital Currency Group (#1), IDG Capital (#1) Series C+ Dolfin (#1) None $87k - Seed TradeLayer (2017, San Francisco, $87k) Seed Terra (2018, Seoul, $32M) Seed GEO Protocol (2018, Tallinn) Seed Terra (2018, Seoul, $32M) $120M - Series C Waves Platform (2016, Moscow, $120M) $4M - Series B Axoni (2016, New York City, $59M) $10M - Series A dYdX (2017, San Francisco, $10M) $32M - Seed Terra (2018, Seoul, $32M) $32M - Series B Axoni (2016, New York City, $59M) $125k - Seed Dapix (2018, Denver, $125k) Jun 2019 RegTech Company Coinfirm To Investigate Ripple XRP’s Compliance With FATF AML Rules, BlockTribune Jun 2019 Dash Teams Up With Blox to Crypto Accounting Services & Solutions, Crowdfund Insider Jun 2019 Waves Breaks into dApps Market, Launching Smart Contracts Functionality, Medianet Jun 2019 NEM Launches Development Studio Ahead of Major Blockchain Upgrade, CoinDesk Jun 2019 Latitude Blockchain Services Partners Up With Ferrum Network, Newswire Jun 2019 Ripple Takes $50 Million Stake in MoneyGram in Push to Deploy XRP, Fortune Jun 2019 Dash And Aircoins Join Forces To Power Cryptocurrency Treasure Hunt In Augmented Reality, iCrowdNewswire News - 3 5 21 74 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Blockchain Network > Finance: Market Factsheet 56 Exits Most Active Investors Recent InvestmentsCompanies offering blockchain protocols for the finance industry Waves Platform (2016, Moscow, $120M) Ripple (2012, San Francisco, $94.6M) Axoni (2016, New York City, $59M) Terra (2018, Seoul, $32M) dYdX (2017, San Francisco, $10M) Top Companies #3 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Finance Companies Created 74 | Funded 21 | Total Funding $319M 0 5 10 15 $0k $200M $400M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Finance
  • 57. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201957 Blockchain Network > Finance: Top Companies Blockchain Infrastructure > Market Details > Market: Finance #3 Top Markets of Investment Activity Market: Finance (1/2) Analyst’s Pick Waves Platform (2016, Moscow, $120M) Decentralized protocol for application development & token management Soonicorn. Stage: Series C Dolfin, Blockchain R&I, BlockGrounds Ripple (2012, San Francisco, $94.6M) Open source payment protocol for cross border money transfer. Unicorn. Stage: Series B Standard Chartered, SBI Holdings, Digital Ventures and 36 Other Investors Axoni (2016, New York City, $59M) Blockchain solutions for capital markets Minicorn. Stage: Series B Hsbc, Andreessen Horowitz, Coatue and 15 Other Investors Terra (2018, Seoul, $32M) Decentralized financial infrastructure for payments Minicorn. Stage: Seed LuneX, Kakao Investment, Kakao Ventures and 13 Other Investors Analyst’s Pick dYdX (2017, San Francisco, $10M) Open source protocols for decentralized margin trading and derivatives trading Editor's Pick. Stage: Series A Polychain, Abstract Ventures, Kindred Ventures and 13 Other Investors Stellar (2014, San Francisco, $3M) Decentralized protocol for sending and receiving money in any pair of currencies Editor's Pick. Stage: Seed SEED Venture Capital, Proof of Capital, Nobu Network and 4 Other Investors Dash (2015, Mexico City, $220k) Anonymous transaction service provider Minicorn. Stage: Seed Rhapsody Ventures, Rockshield Capital, All Blue Capital, Blockchain R&I Dapix (2018, Denver, $125k) FIO Protocol for interwallet operability Editor's Pick. Stage: Seed PV Ventures, Service Provider Capital, Dundee Venture Capital, FirstMile Ventures Analyst’s Pick Bitcoin (2009, London) P2P digital currency Editor's Pick. Stage: Funded a16z crypto, Victory Square Technologies, Pantera Capital and 16 Other Investors Elrond (2017) Blockchain-based protocol layer to enhance intra- shard communication Editor's Pick. Stage: Funded NGC Ethereum Classic (2016, Curitiba) Open source protocol featuring smart contracts functionality Editor's Pick. Stage: Funded Blockchain R&I, Digital Finance Group Litecoin (2011, Toronto) Open source P2P digital currency Editor's Pick. Stage: Funded Blockchain R&I, Planet Ventures, Victory Square Technologies
  • 58. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201958 Blockchain Network > Finance: Top Companies Blockchain Infrastructure > Market Details > Market: Finance #3 Top Markets of Investment Activity Market: Finance (2/2) Analyst’s Pick Nem (2014, Daegu) P2P crypto platform for blockchain-based solutions. Editor's Pick. Stage: Funded Blockchain R&I, Rhapsody Ventures Olympus Labs (2017, New York City) Protocol blockchain for building decentralized financial products Editor's Pick. Stage: Funded Platon Finance (2017, Prague) Cryptocurrency based on ethereum blockchain Editor's Pick. Stage: Unfunded SpectreCoin (2016, London) Privacy-focused cryptocurrency Editor's Pick. Stage: Funded The Monero Project (2014, Cape Town) Monera alternative cryptocurrency for private transactions Editor's Pick. Stage: Funded Blockchain R&I, Tyr Capital, Victory Square Technologies Analyst’s Pick ZAGG Protocol (2018, Singapore) Protocol blockchain for building B2B2C payment applications Editor's Pick. Stage: Unfunded Zcash Electric Coin Company (2016, Boulder) Alternative currency and payment system Editor's Pick. Stage: Seed Winklevoss Capital, Fifth Era, Fenbushi Capital and 4 Other Investors
  • 59. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 59 Blockchain Network > Finance: Leaderboard Blockchain Infrastructure > Market Details > Market: Finance #3 Top Markets of Investment Activity Better than Market Average Market: Finance Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 Waves Platform 2016 Moscow Series C $120M 2 - 4 - - - 300k 2k 1 614 47% 7.6k - 100% 5.0 Ripple 2012 San Francisco Series B $94.6M 5 4 - - - 924.6k - - 3 - - 18.3k 2% 4.8 Stellar 2014 San Francisco Seed $3M 1 - - - - 274.8k - - - - - 14k 5% 4.4 Terra 2018 Seoul Seed $32M 3 4 - - 4 1.9k - - - - - 990 121% 4.1 dYdX 2017 San Francisco Series A $10M 2 4 - - 4 6.2k - - - - - 1.1k 20% 4.0 Dash 2015 Mexico City Seed $220k 1 2 4 - - 204 300k 798 2 99 14% -5 -2% 4.0 Nem 2014 Daegu Funded - - - 3 - - 216.4k 75k 554 1 44 9% 2k 1% 3.9 Axoni 2016 New York City Series B $59M 4 - - - - - - - - - - - - 3.7 Bitcoin 2009 London Funded - - - - - 3 941.9k - - - - - 19.8k 2% 3.5 Ethereum Classic 2016 Curitiba Funded - - 5 - - 3 227.9k - - - - - 1.4k 1% 3.5 Zcash Electric Coin Company 2016 Boulder Seed - 3 - - - - 79 - - - - - - - 3.1 Graft Blockchain 2017 Dallas Unfunded - - - 4 - 3 3.8k 36k 243 - 30 14% 404 12%
  • 60. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201960 #4 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management Companies Created 42 | Funded 15 | Total Funding $75.5M Market: Compliance and Risk Management
  • 61. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201961 Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management #4 Top Markets of Investment Activity Market: Compliance and Risk Management (1/2)
  • 62. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201962 Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management #4 Top Markets of Investment Activity Market: Compliance and Risk Management (2/2)
  • 63. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201963 Blockchain Infrastructure > Market Details > Market: Compliance and Risk Management #4 Top Markets of Investment Activity Better than Market Average Market: Compliance and Risk Management
  • 64. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201964 #5 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Security Companies Created 43 | Funded 16 | Total Funding $61.8M Market: Security
  • 65. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201965 Blockchain Infrastructure > Market Details > Market: Security #5 Top Markets of Investment Activity Market: Security
  • 66. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201966 Blockchain Infrastructure > Market Details > Market: Security #5 Top Markets of Investment Activity Better than Market Average Market: Security
  • 67. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201967 #6 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Hardware Companies Created 124 | Funded 15 | Total Funding $233M Market: Hardware
  • 68. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201968 Blockchain Infrastructure > Market Details > Market: Hardware #6 Top Markets of Investment Activity Market: Hardware
  • 69. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201969 Blockchain Infrastructure > Market Details > Market: Hardware #6 Top Markets of Investment Activity Better than Market Average Market: Hardware
  • 70. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201970 #7 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Sidechain Companies Created 38 | Funded 14 | Total Funding $140M Market: Sidechain
  • 71. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201971 Blockchain Infrastructure > Market Details > Market: Sidechain #7 Top Markets of Investment Activity Market: Sidechain
  • 72. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201972 Blockchain Infrastructure > Market Details > Market: Sidechain #7 Top Markets of Investment Activity Better than Market Average Market: Sidechain
  • 73. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201973 #8 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Smart Contracts Companies Created 109 | Funded 18 | Total Funding $24.7M Market: Smart Contracts
  • 74. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201974 Blockchain Infrastructure > Market Details > Market: Smart Contracts #8 Top Markets of Investment Activity Market: Smart Contracts
  • 75. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201975 Blockchain Infrastructure > Market Details > Market: Smart Contracts #8 Top Markets of Investment Activity Better than Market Average Market: Smart Contracts
  • 76. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201976 #9 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Software Companies Created 60 | Funded 2 | Total Funding $53.9M Market: Software
  • 77. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201977 Blockchain Infrastructure > Market Details > Market: Software #9 Top Markets of Investment Activity Market: Software
  • 78. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201978 Blockchain Infrastructure > Market Details > Market: Software #9 Top Markets of Investment Activity Better than Market Average Market: Software
  • 79. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201979 #10 Top Markets of Investment Activity Blockchain Infrastructure > Market Details > Market: Middleware Companies Created 1 | Funded 1 | Total Funding $20M Market: Middleware
  • 80. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201980 Blockchain Infrastructure > Market Details > Market: Middleware #10 Top Markets of Investment Activity Market: Middleware
  • 81. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201981 #1 Other Notable Markets Blockchain Infrastructure > Market Details > Market: Blockchain Explorer Companies Created 111 | Funded 8 | Total Funding $92.7M Market: Blockchain Explorer
  • 82. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201982 Blockchain Infrastructure > Market Details > Market: Blockchain Explorer #1 Other Notable Markets Market: Blockchain Explorer
  • 83. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201983 Blockchain Infrastructure > Market Details > Market: Blockchain Explorer #1 Other Notable Markets Better than Market Average Market: Blockchain Explorer
  • 84. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Public Companies Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 84 Notable Acquisitions Top Acquirers Acqui-hires
  • 85. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Auto IT Jun 2019 Tech for Traditional Advertising Jun 2019 Diabetes Jun 2019
  • 86. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Public companies 86 List of Public Companies in Blockchain Infrastructure IPO Date Company IPO Mcap Exchange Ticker Feb 2019 BlockMint (2018, Portland) Cryptocurrency mining software provider CVE:BKMT Nov 2018 Tymlez (2016, The Hague) Blockchain-based enterprise solutions. $20.6M ASX:TYM Nov 2015 InterBit (2015, London) Blockchain-based application development $352k IBIT Jun 2015 Marathon Patent Group (2013, Las Vegas) Cryptocurrency mining company NASDAQ:MARA Nov 2001 Hancom Secure (1999, Seongnam-si) Security solution for enterprises $45.2M KOSDAQ:54920 Jun 1998 Blockchain Holding (2016) Cryptocurrency mining hardware solutions $425k CNSX:BCX Aug 1996 SkyChain Technologies (1977, Vancouver) Mining service provider CVE:SCT Blockchain Infrastructure > Exit Outlook > Public Companies
  • 87. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Notable Acquisitions 87 Notable Acquisitions in Blockchain Infrastructure Blockchain Infrastructure > Exit Outlook > Notable Acquisitions Acq. Date Company Acquirer Deal Size Sep 2018 Chain (2014, San Francisco) Application development platform for financial services industry Lightyear $500M Jul 2015 Penta Security (1997, Seoul) Web application firewall, database security and IAM solution Liberty $163M
  • 88. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Most Active Acquirers 88 Blockchain Infrastructure > Exit Outlook > Most Active Acquirers
  • 89. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Acqui-hires 89 List of Acqui-hires in Blockchain Infrastructure Excludes all details for Chinese companies Date Target Feb-19 Chainspace Acq by Facebook Feb-17 Skry Acq by Bloq Blockchain Infrastructure > Exit Outlook > Acqui-hires View all 2 Acqui-hired companies on Tracxn Platform
  • 90. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 90 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  • 91. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Marketplaces - India Jul 2019 Vernacular Platforms Jun 2019 Productivity Software Jun 2019
  • 92. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 201992 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Blockchain Infrastructure > Investors > Index of Most Active VC & PE Investors Index of Top Investors (VC, PE) by Stage in Blockchain Infrastructure; Last 5 years (Jul 2014 - Jun 2019) Index of Most Active VC & PE Investors SEED STAGE Digital Currency Group (8 Investments) Kenetic (4 Investments) Blockchain Capital (3 Investments) KR1 (3 Investments) Dunamu & Partners (3 Investments) Andreessen Horowitz (2 Investments) Canaan Partners (2 Investments) Union Square Ventures (2 Investments) SV Angel (2 Investments) AME Cloud Ventures (2 Investments) Fenbushi Capital (2 Investments) Hashed (2 Investments) Kakao Ventures (2 Investments) 1kx (2 Investments) Coinbase Ventures (2 Investments) EARLY STAGE Digital Currency Group (4 Investments) Pantera Capital (4 Investments) Accel (3 Investments) Andreessen Horowitz (3 Investments) Khosla Ventures (3 Investments) Coinbase Ventures (3 Investments) GV (2 Investments) Foundation Capital (2 Investments) SV Angel (2 Investments) RRE Ventures (2 Investments) FPrime Capital Partners (2 Investments) Accomplice (2 Investments) Data Collective (2 Investments) Slow Ventures (2 Investments) Santander InnoVentures (2 Investments) LATE STAGE Union Square Ventures Pantera Capital Armat Group Korelya Capital
  • 93. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Digital Currency Group 93 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Digital Currency Group People Investments [Unicorn] Hedera Hashgraph (2018, Richardson, $124M, Funded) Application development platform [Soonicorn] Blockstream (2014, San Francisco, $101M, Series B) Blockchain development focused on sidechains innovation [Soonicorn] Chainalysis (2014, Manhattan, $53.6M, Series B) Blockchain based payment fraud prevention & compliance solutions [Minicorn] Blockchain (2011, London, $70M, Series B) Bitcoin wallet service and blockchain navigation [Minicorn] Axoni (2016, New York City, $59M, Series B) Blockchain solutions for capital markets [Minicorn] TradeBlock (2013, New York City, $20.7M, Series B) Online cryptocurrency data and research [Editor's Pick] Blockstack (2015, New York City, $6.8M, Series A) blockchain application development platform [Editor's Pick] Horizen Labs (2018, Austin, $4M, Seed) Blockchain-based infrastructure for sidechain application [Editor's Pick] Lightning Labs (2016, San Francisco, $2.5M, Seed) Lightning network protocol developer [Editor's Pick] Enigma (2016, San Francisco, $1.4M, Seed) Privacy focused blockchain [Editor's Pick] Merkle Science (2018, Singapore, $804k, Seed) Risk management solution for the blockchain ecosystem [Editor's Pick] Zcash Electric Coin Company (2016, Boulder, Seed) Alternative currency and payment system Blockchain Infrastructure Notable Portfolio Top Exits Recent News on Fund & Portfolio Barry Silbert Founder & CEO Geographical Spread Stage of Entry Jul 2019 Coinsilium inks agreement to promote RSK network in Southeast Asia, Proactive Investors Jul 2019 SEC Approves First Blockchain Firm for Regulation A+ Funding, Finance Magnates Jul 2019 Blockstream Launches Atomic Swaps on Liquid Bitcoin Sidechain, CoinDesk Jul 2019 Raw Technology joins RSK Group, Private Equity Wire Jun 2019 Partnership between Swarm and RSK Infrastructure Framework (RIF) to develop a breakthrough storage solution, Fintech Finance Jun 2019 Chainalysis Hires FinCEN Vet to Tackle Crypto’s New ‘Travel Rule’ Challenge, CoinDesk Chain (2014, San Francisco, $44M) Acq by Lightyear - Sep 2018 Elliptic (2014, London, $11M) Acq by Synopsys - Jun 2015 RSK Labs (2015, Buenos Aires, $3.5M) Acq by rifos.org - Nov 2018 1 11 1 2 3 3 2 2014 2015 2016 2017 2018 2019 Follow On New Investments 10 - 1 3 8 Undisclosed Series C+ Series B Series A Seed15 4 2 1 - US Europe SEA Latam
  • 94. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Kenetic 94 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Kenetic People Investments [Soonicorn] Origin Protocol (2017, San Francisco, $31.5M, Series A) Blockchain platform for building decentralized marketplaces [Minicorn] Terra (2018, Seoul, $32M, Seed) Decentralized financial infrastructure for payments [Editor's Pick] TransitNet (2018, Redondo Beach, $2.5M, Seed) Reporting and compliance solution for token issuers [Editor's Pick] Merkle Science (2018, Singapore, $804k, Seed) Risk management solution for the blockchain ecosystem Blockchain Infrastructure Notable Portfolio [Soonicorn] BlockFi (2017, New York City, $60.4M, Series B) Crypto-assets collateralized fiat loans [Minicorn] SharesPost (2009, San Francisco, $18M, Series C) Platform for private security investments Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Jehan Chu Co-Founder & Managing Partner Lawrence Chu Co-Founder Daniel Weinberg CEO Geographical Spread Stage of Entry Jun 2019 TransitNet Announces Product Launch, Cohen & Company Among Clients, PRWeb None 4 1 2014 2015 2016 2017 2018 2019 Follow On New Investments - - - 1 4 Undisclosed Series C+ Series B Series A Seed3 1 1 - - US SEA South Korea
  • 95. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Blockchain Capital 95 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Blockchain Capital People Investments [Unicorn] Bitfury (2012, San Francisco, $175M, Series D) Provider for Bitcoin mining hardware [Soonicorn] Blockstream (2014, San Francisco, $101M, Series B) Blockchain development focused on sidechains innovation [Minicorn] Nervos Network (2018, Hangzhou, $28M, Series A) Suite of interoperable protocols for dApps [Minicorn] BlockCypher (2013, Redwood City, $3.5M, Seed) Cloud-optimized full blockchain nodes [Minicorn] TRM (2018, San Francisco, $1.7M, Seed) Risk and compliance management solution for crypto companies [Editor's Pick] Blockstack (2015, New York City, $6.8M, Series A) blockchain application development platform Blockchain Infrastructure Notable Portfolio [Unicorn] Coinbase (2012, San Francisco, $547M, Series E) Digital currency exchange & wallet provider [Unicorn] Circle (2013, Boston, $246M, Series E) Digital currency wallet for global money transfers [Soonicorn] High Fidelity (2013, San Francisco, $85M, Series D) Open-source social virtual reality platform to create, share and explore virtual worlds [Soonicorn] Anchorage (2017, San Francisco, $57M, Series B) Cryptocurrency custodian service provider [Soonicorn] Xapo (2012, Palo Alto, $40M, Series A) Cold Storage Vault & Bitcoin Wallet [Soonicorn] itBit (2012, Tower, $28.3M, Series A) Provider of Trading & Settlement platforms Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Brock Pierce Co-Founder Bart Stephens Co-Founder & Managing Partner Bradford Stephens Co-Founder & Managing Partner Geographical Spread Stage of Entry Jul 2019 SEC Approves First Blockchain Firm for Regulation A+ Funding, Finance Magnates Jul 2019 US-Based Provident Bank To Integrate BitFury’s Blockchain Investigation Tool, BlockTribune Jul 2019 Nervos Begins Mainnet Preparation with Crypto Wallet Partnership, AiThority Jul 2019 Blockstream Launches Atomic Swaps on Liquid Bitcoin Sidechain, CoinDesk Jun 2019 ITI Funds to build a solution for cryptocurrency transactions compliance for fund managers, Institutional Asset Manager Jun 2019 EOS Blockchain Developer Block.one Purchased Voice.com Domain Name For $30M USD, BlockTribune Chain (2014, San Francisco, $44M) Acq by Lightyear - Sep 2018 11 1 1 1 2014 2015 2016 2017 2018 2019 Follow On New Investments 4 - - 1 3 Undisclosed Series C+ Series B Series A Seed6 1 1 - - US China Cayman Islands
  • 96. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 KR1 96 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > KR1
  • 97. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Dunamu & Partners 97 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Dunamu & Partners
  • 98. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Andreessen Horowitz 98 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Andreessen Horowitz
  • 99. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Union Square Ventures 99 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Union Square Ventures
  • 100. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 SV Angel 100 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > SV Angel
  • 101. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 AME Cloud Ventures 101 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > AME Cloud Ventures
  • 102. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Fenbushi Capital 102 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Fenbushi Capital
  • 103. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Hashed 103 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Hashed
  • 104. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 1kx 104 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > 1kx
  • 105. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Coinbase Ventures 105 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Coinbase Ventures
  • 106. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 106 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  • 107. Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Blockchain Infrastructure - Jul 2019 Digital Currency Group 107 Portfolio in Blockchain Infrastructure | Exits | Funds Link | Website | LinkedIn | Twitter Blockchain Infrastructure > Investors > Digital Currency Group