Monday, 11 September 2023

Big funding deals are back, baby

Plus, half of startup's employees were let go after ultimatum

September 11, 2023

Hi, Agen. If you’re a remote or hybrid-work employee, chances are you’re pretty happy with that arrangement. So if your employer told you that you had to move back to work in a physical office ASAP — or else — would you? Grindr found out recently that many employees just aren’t willing to go back to pre-pandemic work arrangements — almost half of the LGBTQ+ dating app’s employees were let go after they refused its return-to-office ultimatum. All told, more than 600 U.S. tech workers lost their jobs last week, with the total so far this year hitting 170,000.

๐Ÿฆ„ Nine new unicorns join the herd as two prepare to exit

Nine companies joined The Crunchbase Unicorn Board last month, with fintech leading the way. More significantly for the startup world, two highly valued unicorns are finally getting ready to leave the board this month in a test for the IPO markets.

๐Ÿ˜ž Not quite the exit these AI unicorns dreamed of

Speaking of unicorn exits, sometimes those aren’t the magical fairyland these companies had dreamed of. Despite the hype around AI, scores of venture-backed companies touting artificial intelligence technologies have shuttered or seen valuations plummet in the past few quarters, our analysis shows.

๐Ÿ… Top 10 deals: Big deals are back, baby

Venture funding overall may be scarce, but big rounds are apparently in again. Last week, eight U.S. startups each raised $100 million or more — and one reportedly raised $1 billion.

✂️ Even Jeff Bezos’ rocketship company is cutting staff

Seventeen companies joined our Tech Layoffs Tracker last week, collectively sacking more than 600 employees among them. Along with Grindr, they included a cybersecurity company, tech news publication, and Jeff Bezos’ rocketship company.

๐Ÿ’ฐ Meet the most active U.S. startup investors in August

The No. 1 most active investor in U.S. startups last month has been relatively consistent this year — despite a slowing VC market — ranking first for the second month in a row. We look at the most active startup investors in the U.S. last month, and some of the interesting companies they funded.

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Recent Investments

Enbridge

4.6B CAD / Post-IPO Equity

Enbridge is a energy distribution company that provides distribution, gathering, processing and storage of natural gas.

Categories:

Energy • Oil and Gas • Renewable Energy • Solar

H2 Green Steel

1.5B EUR / Venture Round

H2 Green Steel operates a steel production plant to accelerate the decarbonization of the steel industry using green energy.

Categories:

CleanTech • GreenTech • Industrial Manufacturing

Founders:

Carl-Erik Lagercrantz, Harald Mix

Investors:

Altor (Lead), GIC (Lead), Hy24 (Lead) + 11 more

Liberty Media

$1.0B / Post-IPO Debt

Liberty Media is a media and entertainment conglomerate that operates various media, communications, and entertainment businesses.

Categories:

Broadcasting • Communications Infrastructure • E-Commerce • Media and Entertainment • Social Media • Video

More Fundings

Company Amount / Round Lead Investor
Tikehau Capital 300M EUR / Post-IPO Debt -
Ampla Technologies $258M / Debt Financing Atalaya Capital
Natera $250M / Post-IPO Equity -
All Recent Funding Activity

Recent Acquisitions

ConnectGen

Pending acquisition by Repsol Energy Ventures for $768M

More Acquisitions

Company Acquired By Amount
Ermetic Tenable $240M
All Recent Acquisition Activity

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