Tuesday, 20 February 2024

Meet January’s 11 new unicorns

Plus, a massive week for large deals

February 20, 2024

Hi, Agen. We’re not exactly seeing new unicorn startups galloping into view like we did three years ago, but January was still a strong month for new billion-dollar startups. Eleven new companies joined The Crunchbase Unicorn Board, altogether adding $16 billion in value and spanning AI, clean energy, semiconductor, quantum computing and AR, among other sectors. Plus, last week saw a lot of very large funding deals, but also more than 6,000 workers laid off by U.S. tech companies.

🦄 Meet January’s 11 new unicorns

Eleven companies joined The Crunchbase Unicorn Board in January — the first double-digit monthly count in over a year — with more than half hailing from Asia.

See also: The Crunchbase Unicorn Board

🏅 Lambda leads massive week for megadeals

Ten U.S.-based startups each raised $100 million or more last week, an eerie throwback to 2021. Maybe startup investing is back, or maybe investors were just really excited about this crop of companies, which includes AI, biotech, music and advanced materials startups.

See also: The Crunchbase Megadeals Board

✂️ Cisco tops weekly layoffs tracker

A dozen companies joined our Tech Layoffs Tracker last week, altogether axing more than 6,000 jobs. They included big names in tech like Cisco, Instacart and Mozilla, along with a handful of lesser-known startups.

🌱 5 areas where seed investors are active

From construction tech to AI health diagnostics to spacetech, our data shows seed-stage investors have been funding young startups across an array of fascinating industries.

🤝 Crunchbase announces new partnership with monday.com

Now, monday sales CRM users can enrich their CRM records with Crunchbase’s best-in-class proprietary company data to quickly identify qualified opportunities and inform outreach. Find out more here.

🖤 A change is gonna come. Right?

Seven years after the #MeToo movement and four years after George Floyd’s killing sparked a global racial justice reckoning, startups led by Black founders and women still continue to receive single-digit percentages of funding. How do we do better? Guest author Joey Mak of nonprofit Chicago:Blend offers his perspective.

🧾 These startups are growing alongside the gig worker economy

Over the past few quarters, venture investors have poured hundreds of millions into companies with offerings aimed at freelance and gig workers. Top focus areas include platforms for finding work, accounting tools and apps tailored for specific industries.

Related Crunchbase Pro list: Freelance And Gig Worker Services Startups

Get more with Crunchbase Enterprise

Find out more about Crunchbase’s prospecting software that enables your entire team to find the right companies, identify the right people, and connect with the decision-makers who can move deals forward – all in one solution.

Recent Investments

Lambda

$320M / Series C

Lambda is a cloud-based GPU company catering to developers throughout the entire lifecycle of AI development.

Categories:

Artificial Intelligence (AI) • Cloud Computing • GPU • Hardware • Machine Learning • Software

Founders:

Michael Balaban, Stephen Balaban

Investors:

US Innovative Technology Fund (Lead), 1517 Fund, B Capital + 6 more

Plus Power

$98M / Debt Financing

Plus Power specializes in creating battery energy storage systems that enhance the efficiency and reliability of the electrical grid.

Categories:

Battery • Energy • Renewable Energy

Founders:

Alex Fraenkel, Brandon Keefe

Investors:

Greenprint Capital (Lead)

Duetti

$75M / Debt Financing

Duetti is a music financing platform that engages in buying catalog rights from independent musicians.

Categories:

Financial Services • FinTech • Music

Founders:

Christopher Nolte, Lior Tibon

Investors:

Northleaf Capital Partners (Lead)

More Fundings

Company Amount / Round Lead Investor
Kairos Aerospace $52M / Series D BlackRock
LangChain $25M / Series A Sequoia Capital
Duetti $15M / Venture Round Nyca Partners
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All Recent Funding Activity

Recent Acquisitions

Jackpocket

Pending acquisition by DraftKings for $750M

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Company Acquired By Amount
Prudeo Partners Perigon Wealth Management $425M
All Recent Acquisition Activity

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