Tuesday, 12 March 2024

10 new unicorns trot onto board as one slides off

Plus, startup-on-startup M&A declines

March 12, 2024

Hi, Agen. Ten new unicorns hailing from sectors including AI, fintech, spacetech and robotics joined The Crunchbase Unicorn Board in February. Altogether, they added $18 billion to the board’s total value. But in a sign that the valuations for many of the companies on the board are in flux, one former unicorn fell off the board completely. Plus, startups are still buying fewer startups.

🦄 10 new unicorns trot onto board as one slides off

The artificial intelligence theme was evident again among new additions to our Unicorn Board last month: Two of the new companies on the board are in the AI sector, and many of the other newcomers have the technology woven into their products.

See also: The Crunchbase Unicorn Board

🛒 Startups are still buying fewer startups

In all of 2023, just over 650 funded startups globally were acquired by other funded startups — the lowest total in three years — and 2024 is off to a similarly slow start, Crunchbase data shows.

Related Crunchbase Pro list: Startups Buying Startups, Global

🔥 a16z is on a hot streak

February may be the year’s shortest month, but that didn’t mean Andreessen Horowitz didn’t have time for a big month. The investing giant — which was also the most active venture investor globally last year and in the U.S. in January — again led the way as the busiest U.S. startup investor of the month.

🏅 Biotech leads big week for big funding deals

Startups in the sector nabbed three of the top five spots last week, another big week for really big raises — with two of $200 million or more. Other startups that raised big included companies in the asset management, AI, cybersecurity and manufacturing spaces.

See also: The Crunchbase Megadeals Board

🎯 How to master market segmentation

By honing in on specific customer segments and delivering messages that resonate on a personal level — “We do X for people just like you” — companies can significantly enhance customer experiences, foster loyalty and strengthen connections, writes guest author Tracy Young.

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