Google’s Parent Alphabet Is Major Blockchain Investor, Samsung Joins List With PayPal, Microsoft

Investment management company BlackRock, Morgan Stanley, and tech major Samsung secured the second, third, and fourth positions.

By Radhika Parashar | Updated: 17 August 2022 13:07 IST

Google’s Parent Alphabet Is Major Blockchain Investor, Samsung Joins List With PayPal, Microsoft

Photo Credit: Reuters

South Korea’s Samsung has emerged as the most active investor in the blockchain technology

Highlights

A total of 40 companies collectively invested $6 billion in blockchain
Alphabet is the largest investor capital-wise in blockchain
$30.2 billion was raised by Web3 firms in 2021

Alphabet, the parent of search engine giant Google has emerged as a major investor in the blockchain startup ecosystem, a report compiled by market intelligence platform Blockdata claimed recently. In a statement shared with Gadgets 360, a Google spokesperson confirmed that Alphabet has invested in a number of startups that have collectively raised around $1.5 billion (roughly Rs.11,900 crore) in funding from other venture capitalists as well. The investment management company BlackRock, investment bank Morgan Stanley, and tech major Samsung secured the second, third, and fourth positions on the same list for investing substantially in the blockchain sphere in the last eleven months.

A total of 40 companies collectively invested around $6 billion (roughly Rs. 47,600 crore) into blockchain start-ups between September 2021 and June 2022.

They are silently in crypto already... pic.twitter.com/C5YeiE91P7
— CZ :large_orange_diamond: Binance (@cz_binance) August 16, 2022

While Alphabet is the largest investor capital-wise, South Korea-based Samsung has emerged as the most active investor in the blockchain technology.

“Samsung is the most active, having invested in 13 companies. UOB came in next with seven investments, followed by Citigroup with six investments, and Goldman Sachs with five,” Blockdata said in its analysis.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

Google has closely been watching the blockchain space, its CEO Sundar Pichai had revealed earlier in February, calling the sector “an interesting and powerful technology with broad applications.”

Google has been allowing the integration of Google Pay with crypto firms such as Crypto.Com to facilitate the purchase of crypto assets.

Meanwhile, Samsung has also been making strides in the blockchain and crypto sector in recent times.

Justin Bieber, Eminem Among 19 Celebrities to Get Grievance Letters for Promoting NFTs

In January, the smartphone mammoth revealed a new “NFT Aggregation Platform” to an array of its smart televisions that lets people browse NFTs for sale and even buy them via the TV set itself. The company is also integrating its latest flagship, the Galaxy Fold 4 with the NFT ecosystem.

The blockchain sector, despite being in its nascent stage, has been attracting tonnes of capital from industry mammoths around the world.

Goldman Sachs, BNY Mellon, PayPal, Microsoft, Commonwealth Bank, Prosus, Tencent, CitiGroup, UOB, Wells Fargo, LG, as well as Americal Express have secured ranks fifth to sixteenth on the Blockdata list of top investors in the blockchain sector.

Earlier in May, analytics firms Messari and Dove Metrics had claimed that a total of $30.2 billion (roughly Rs. 239,700 crore) was raised by Web3 firms in 1,313 rounds in 2021.

Over a third of the total funds raised went into the centralised finance (CeFi) sector, making up $10.2 billion (roughly Rs. 80,800 crore) in investment. CeFi allows people to route all the crypto trading orders through centralised exchanges.

Do the Galaxy Z Fold 4 and Z Flip 4 offer enough over last year's models? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Blockdata, Blockchain, Google, Samsung, Goldman Sachs, Alphabet, CryptoCom, BNY Mellon, PayPal, Microsoft, Commonwealth Bank, Prosus, Tencent, Citi, UOB, Wells Fargo, LG

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More