Techstars London has launched its newest cohort, the first Web3-focused accelerator programme in the UK.

The accelerator is in collaboration with Polygon Labs and comprises 12 startups leveraging Web3 technologies such as blockchain, crypto and NFTs. 

It includes businesses from multiple industries – from fashion to FinTech, and insurance to healthcare. 

‘Techstars London powered by Polygon’ will combine the leadership and expertise of Polygon Labs, a growth and development team supporting Polygon blockchain protocols, with Techstars’ ability to connect founders to experienced mentors and facilitate access to the right sources of capital.

The cohort will be guided by an experienced team including Techstars’ MD and VC, Saalim Chowdhury. He said: “London has a golden opportunity to become a global hub for Web3. It’s not just a product, it’s a revolutionary shift in how we use the internet, which is why we’re excited to work, in collaboration with Polygon Labs, with the innovative pioneers that are behind the businesses of the future. 

“The talented group spans a range of sectors and gives way to a diverse variety of use cases. We’re keen to show that more entrepreneurs can move into the space, regardless of industry.”

The cohort:

Asterizm – An enterprise-oriented blockchain interoperability layer that provides confidential data transfer through an encrypted channel

Aware – A business analytics engine that unlocks business potential in blockchain data by uncovering deep insights and predictions using free text

Buildoor Labs – A usability infrastructure to simplify UX, retain, engage and track users in Web3

CombatIQ – The world’s first Computer Vision powered analytics company dedicated to Combat Sports

Cryptive – An insurance provider, offering Captives-as-a-Service for Web3 businesses

Esca – A stable digital currency savings account for businesses in emerging markets

Esoteric – A business helping fashion enthusiasts create their most cutting edge outfits by providing a virtual wardrobe and styling tool

Liquify – An invoice marketplace that transforms invoices from SMEs in emerging markets into an investable asset class for financiers seeking reliable yield

Maka Health – A business providing personalised and preventative healthcare 

Musiqmesh – A B2B SaaS product to help music creators create and monetise music using a simpler and more efficient music production supply chain workflow

Popp – A business helping e-commerce brands unlock the true value of their superfans.

RAML – A SaaS based business helping FinTechs accurately, efficiently and securely assess their money laundering risks, driving time and costs reduction ordinarily associated with risk assessments.

Techstars has already completed Web3 programmes in Seattle and Dublin, with another currently ongoing in Boston.

Crypto donations help leading charities

An increasing number of charities have started to accept digital assets as donations, according to FirstRateData. Its analysis has compiled the top charities that accept cryptocurrency donations.

Save the Children – $2.5m in BTC, ETH, LTC, BCH, XRP

Provided education and protection to over 50,000 vulnerable children in 20 countries

Water Project – $1.2m in BTC, ETH, LTC, BCH, XRP

Funded 480 clean water projects, benefiting 240,000 people in Sub-Saharan Africa

American Red Cross – $850,000 in BTC, ETH, LTC, BCH, XRP

Supported disaster relief efforts for over 25 natural disasters, reaching 2 million people

Electronic Frontier Foundation – $600,000 in BTC, ETH, LTC, BCH, XRP

Successfully advocated for digital privacy rights, impacting 3 major legislative changes

Cryptocurrency shorts

KuCoin Wallet has rebranded as Halo Wallet with funding support from KuCoin Ventures, IDG, HashKey Capital and other Web3 strategic partners.

Bakkt Holdings, a technology platform that unlocks crypto and drives loyalty, has acquired Apex Crypto for $200m in cash and stock. Apex is a platform for integrated crypto trading used by FinTechs, trading apps, neobanks and their customers.

Three Canadian companies – Coinsquare, WonderFi and Coinsmart – have merged to create a listed, fully regulated crypto asset trading platform. Mogo, Coinsquare’s largest shareholder, is expected to be the largest shareholder of the combined company, which will have a user base in excess of 1.65 million Canadians.

Entrepreneur Elon Musk had Twitter’s profile pic on its own platform changed to the Dogecoin icon a day after asking for a $258 billion racketeering lawsuit – accusing him of running a pyramid scheme to support the cryptocurrency through tweets – to be thrown out. DOGE’s price rose 20% in an hour and, despite the emblem being changed back, is 25% up over 24 hours.

Crypto prices

The overall market cap of the 23,100 coins is at $1.17 trillion at the time of writing (7am UK), a 1% increase in the last 24 hours.

For round-ups of recent cryptocurrency news developments, click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.