Venture funding dedicated to Web3 startups during the second quarter has plunged by 76% in comparison to the previous year, as major funding deals have slackened considerably, according to Crunchbase data. It appears that investors are increasingly turning their attention to the rapidly growing field of AI, as well as other traditional sectors. Web3, typically associated with blockchain and cryptocurrency startups, has been hit the hardest, with startups amassing just over $1.8 billion in 322 deals during the second quarter of the year. This in stark contrast to Q2 of last year, as startups then had raked in more than

Just two years ago, venture capital was pouring into the cybersecurity sector like a gushing spring, topping $23 billion in 2021. However, Crunchbase data reveals a stark contrast in Q2 2023, showing a 63% drop from the same quarter last year, bringing venture funding for cybersecurity to a mere $1.6 billion. This represents the lowest venture capital funding in the sector since Q4 2019. In the first half of this year, cyber startups have managed to raise only $4.3 billion, a fall of 60% from the $10.8 billion raised in the first half of 2022. This figure is also more