A quarter of unicorn exits in 2023 were deep tech companies.
Early-stage funding declined the most year over year, falling 34%.
Global venture funding reached $19.2 billion in November 2023, down marginally month over month.
Health care and financial services companies raised the largest amounts last month.
The tech industry experienced numerous layoffs in 2023, affecting both major companies and startups.
The year 2023 witnessed a significant shift in the tech industry, with major companies and startups alike experiencing numerous layoffs. High-profile companies such as Spotify, Salesforce, Google, and Microsoft announced significant job cuts throughout the year. These layoffs were driven by various factors, including economic downturns, market demands, and the industry's shift towards emerging technologies like AI and cloud computing.
Despite the layoffs, the tech industry also saw a rebound in startup exits, particularly in the deep tech sector. A quarter of unicorn exits in 2023 were deep tech companies, marking a significant increase in the commercialization of deep tech solutions. An analysis of global deep tech exits from 2013-2022 revealed a 550% increase in deep tech unicorn exits from 2018-2022.
In terms of venture funding, global venture funding reached $19.2 billion in November 2023, down marginally month over month. Early-stage funding saw the most significant decline year over year, falling 34%. In contrast, late-stage funding increased by around 7% compared to November 2022. Health care and financial services companies raised the largest amounts last month, with artificial intelligence companies raising $2.4 billion in total in November.
M&A activity also picked up, with notable acquisitions such as Rover being acquired by Blackstone Group for $2.3 billion and Palo Alto Networks acquiring Talon Cyber Security for $625 million.
Global venture funding reached $19.2 billion in November 2023, down marginally month over month, Crunchbase data shows.
Early-stage funding declined the most year over year, falling 34%.
Late-stage funding increased by around 7% compared to November 2022.
Health care and financial services companies raised the largest amounts last month.
Artificial intelligence companies raised $2.4 billion in total in November.
M&A activity picked up, with Rover being acquired by Blackstone Group for $2.3 billion and Palo Alto Networks acquiring Talon Cyber Security for $625 million.
The tech industry experienced numerous layoffs in 2023, affecting both major companies and startups.
Spotify, Salesforce, Google, Microsoft, and other companies announced significant job cuts throughout the year.
These layoffs were driven by various factors, including economic downturns, market demands, and the industry's shift towards emerging technologies like AI and cloud computing.
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