CandleFocus 1 in 4 Solana VC startups from 2022 have already failed
2024-10-07
Author: Content Editor
The article discusses the impact of the decline in the price of SOL on Solana-based startups in 2022. According to research by Lattice, 26% of Solana seed startups failed in 2022, and only 61% managed to ship a product. This is a lower success rate compared to 2021. However, some surviving startups are now raising follow-on funding, with Drift and Helius securing rounds of over $20 million. Despite this positive development, the article suggests that investors should be cautious when investing in new ecosystems. The Solana Foundation reported that the Solana ecosystem raised $173 million in venture funding in Q3 of this year, its highest quarterly total since Q2 of 2022. The article concludes by highlighting the hope that Solana can avoid the negative outcomes experienced in 2022.
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