Web3 funding plummets as AI steals the show

Plus, new raise shows femtech funding still strong

July 18, 2023 Hi, Didong. Bitcoin and Ether prices have spiked this year, but funding to startups in the closely related Web3 space has moved in the exact opposite direction. Venture funding to Web3 startups in the second quarter plummeted 76% from last year, as big funding deals slowed to a crawl, Crunchbase data shows. 🕸 Move over Web3 — AI steals the show Two years ago, Web3 was the word. Startups in the space raised more than $10 billion in the fourth quarter of 2021 alone. How times have changed. Web3 has been hit harder than almost any other major startup sector this year, as investors retreat to both AI and more traditional sectors. 🩺 Herself Health raises $26M as femtech funding holds steady Herself Health, a startup that offers primary care for women aged 65 and older, said Monday that it raised a $26 million Series A. Its latest round comes as venture funding to startups focused on women’s health issues has held up relatively well despite a broad venture funding pullback. 🦄 AI unicorn reportedly wants even more cash Just four months after closing a $150 million Series A at a $1 billion valuation led by Andreessen Horowitz, Character.AI may be looking for even more cash. 💄 Will this hot startup’s IPO make beauty investment attractive again? Oddity Tech, an Israel-based, direct-to-consumer cosmetics and self-care products provider, is set to go public as early as today in a Nasdaq offering with a target valuation of almost $2 billion. Its IPO comes as VC investment in beauty startups has faltered. Related Crunchbase query: Global Seed Through Late-Stage Funding For Beauty-Related Startups 🔍 What revenue multipliers tell us about a tech recovery In late 2021, we witnessed an alarming surge in revenue multipliers, with a median of 34 and an average of 72. Now a different narrative is emerging, writes startup consultant Itay Sagie after doing an analysis of more than 5,400 software-related M&A deals on Crunchbase. Crunchbase ROI Calculator See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data. Calculate Recent Investments IIFL Finance $50M / Post-IPO Debt IIFL Finance is a financial services company that provides a wide range of solutions, including loans, investments, and insurance. Categories: Asset Management • Banking • Finance • Financial Services • Wealth Management Founders: Nirmal Jain Investors: U.S. International Development Finance Corp (Lead) Virtualitics $37M / Venture Round Virtualitics is an analytics company that helps enterprises and governments make decisions with ready-to-use AI. Categories: Artificial Intelligence • Augmented Reality • Machine Learning • Natural Language Processing • Virtual Reality Founders: Ciro Donalek, George Djorgovski, Michael Amori LetsTransport $25M / Venture Round LetsTransport is a logistics solution provider that offers customized logistics solutions for clients. Categories: Logistics • Transportation • Travel Founders: Ankit Parasher, Pushkar Singh, Sudarshan Ravi Investors: Bertelsmann India Investments (Lead) More Fundings Company Amount / Round Lead Investor Verismo Therapeutics $19M / Venture Round - Atento $17M / Post-IPO Debt - Leverage $7.0M / Venture Round Chicago Ventures CornerUp $1.5M / Venture Round - Bluesight Unknown / Private Equity Round Thoma Bravo ToolJet Unknown / Venture Round GitHub All Recent Funding Activity Recent Acquisitions Kahoot! Pending acquisition by Goldman Sachs Asset Management for $1.7B More Acquisitions Company Acquired By Amount Route Mobile Proximus Group 59B INR All Recent Acquisition Activity Discover innovative companies and the people behind them. 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. Privacy Policy | Terms of Service Unsubscribe from Crunchbase Daily.