Global Investors Show Huge Interest In Indian Web3 Start-Ups

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Global Investors Show Huge Interest In Indian Web3 Start-Ups

During the COVID-19 pandemic, India's start-up ecosystem attracted the attention of several prominent investors from around the world.

It's now up to its Web3 start-up to flourish. Web3 is an umbrella name for an online ecosystem that excludes large corporations and does not require the use of search engines like Google to browse. It is built on the same blockchain technology as cryptocurrencies and non-fungible tokens.

Coinbase Ventures, the investment arm of American cryptocurrency exchange Coinbase, has teamed up with Buidlers Tribe, an Indian incubator, to host a start-up pitch session to help India's growing Web3 ecosystem grow.

????Calling India's cryptopreneurs!Coinbase Ventures is partnering with @BuidlersTribe to host an in-person pitch day in Bangalore in April.$1M+ is up for grabs, including $25k bonus grants provided by @BeliefDAO, and mentoring sessions with the best minds in crypto.

Apart from this, UAE-based VC firm Cypher Capital announced the formation of a global $100 million blockchain-focused fund. Of this, it said it would set aside 40 percent for blockchain and cryptocurrency start-ups in India.

Then, General Catalyst, a US-based venture fund that has supported global businesses such as Airbnb, Instacart, and Stripe, announced that it was looking to increase its investments in India, and Web3 was one of the areas where it was looking to invest.

The country's large cryptocurrency user base could be one of the reasons for foreign investors' increased interest in Indian Web3 start-ups. According to a report by Chainanalysis, India had the world's second-largest number of cryptocurrency users in 2021. The report stated that the country was second