Monday 16 October 2023

Meet the month’s 8 new unicorns

Plus, these companies shut down last week

October 16, 2023

Hi, Agen. Two years ago, an average of 52 new companies were trotting onto The Crunchbase Unicorn Board each month, while a steady herd of mature unicorns cantered off to the public markets as IPOs boomed. Even last year, an average 27 startups a month were being minted as new unicorns. In 2023, it’s down to seven. Nonetheless, we look at who those new unicorns were in September — and what the two unicorn IPOs last month have done since their debuts.

πŸ¦„ 8 new unicorns minted as 2 finally debut

Eight companies joined The Crunchbase Unicorn Board in September, adding more than $15 billion in value, while two long-in-the-tooth unicorns finally galloped off onto the public markets.

Related Crunchbase unicorn queries:

• Unicorns In The U.S.

• Unicorns In Asia 

• European Private Unicorns

πŸ… One big deal leads top 10, bevy of small(er) ones follow

Last week saw a lull in big-figure funding deals, with only one U.S.-based startup raising more than $100 million (though it was over by quite a lot!). Did investors take a fall holiday? Is the big-round frenzy over? Let’s take a look.

✂️ Big cuts and bankruptcies land on layoffs tracker

While a fair number of companies continue to trim their workforces, others are just throwing in the towel completely. Last week, we saw two fintech startups lay off their entire workforce. And online used car marketplace Shift and air purification startup Molekule both moved toward Chapter 11 bankruptcy.

πŸ“Š Israel, China lead modest Asia venture rebound

The two Asian countries facing the biggest geopolitical headwinds also saw the continent’s biggest rebound in Q3 venture funding. Israeli startups had their best quarter raising money since Q3 of last year, pulling in $1.4 billion in the most recent quarter. And China-based startups raised $14.1 billion last quarter, a 20% boost from Q2.

🌎 Late-stage deals give LatAm funding a boost

Venture investment to Latin America is still far, far below its 2021 peak, but picked up a bit in the third quarter of this year, as later-stage dealmaking returned to the region. However, reported seed and early-stage investment was down sharply, indicating increasing wariness around backing less-established startups. Let’s take a look.

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