7upbet | 7upasia | 7uplive | 7upwing: VC spending is flat

March 7, 2024

Hi, Agen. Is this the new normal? Global venture spending settled at around $21 billion last month — essentially flat month over month, Crunchbase data shows. But artificial intelligence enthusiasts will be pleased to see the sector more than doubled the investment it received compared to the month prior and a year earlier, landing about a fifth of all VC dollars in February. But even as AI continues to pull in the big bucks, it’s left with a problem that money may not be able to solve: public perception. That was made clear this week in dueling claims between Elon Musk and OpenAI.

Globally, more than $2 billion was invested in seed-stage companies last month. Close to $10 billion was invested in early-stage companies. And venture investors spent $9.3 billion at late-stage, including technology growth companies, our data shows. Let’s dive in.

👁️ Eye on AI: Who’s saving us from the robots?

Speaking of AI, Elon Musk and OpenAI have each accused the other of working to undermine the startup’s original promise to build artificial general intelligence for the benefit of humanity. But all the squabbling seems to miss the point: The AI sector has a massive image problem, and nobody seems to be doing anything about it.

🤔 5 interesting startup deals you may have missed in February

Plenty of interesting companies raised cash in February — and many had nothing to do with AI. Here’s a look at five of the most intriguing, from a startup promising better sleep for insomniacs to another that says it’s developed a new chemical-free approach to battling the herbicide-resistant weeds that cost farmers worldwide billions of dollars annually.

🔋 Why Battery Ventures is charged up about AI

Storied VC firm Battery Ventures has been an active investor in AI, including backing Databricks and companies working on everything from streamlining insurance claims to automating sales outreach. We sat down recently with general partner Dharmesh Thakker to talk about the technologies he’s most excited about, and where he sees AI already creating billions of dollars in value.

Related Crunchbase Pro list: Battery Ventures’ Select AI Portfolio Companies

🏆 An Epic deal leads February’s 10 largest rounds

Companies needed to raise $170 million or more just to make the tailend of our list of largest U.S. venture funding deals in February. The biggest deal was really big — $1.5 billion — but there were a slew of other good-size deals too. In fact, a company had to raise well over half a billion dollars if it wanted a spot in the top three.