Friday, 19 July 2024

Introducing June’s new unicorns

Startups in the cleantech and sustainability sectors losing steam

July 19, 2024

Hi, Agen. The Crunchbase Unicorn Board rankings grew by four in June, and had several things in common, including surprisingly not being pure-play AI. We introduce the newbies. Plus, with all the weather-related calamities storming the globe, one may think cleantech and sustainability startups would be an easy sell. Apparently that’s not the case, as funding to those startups is down so far this year. Fortunately, some in the space have been able to raise significant debt financing.

πŸ¦„ Four companies joined The Crunchbase Unicorn Board in June

All four companies new to the board are U.S.-based and — surprisingly — not pure-play AI companies. June was the lowest count for new unicorns in a month so far in 2024, based on an analysis of Crunchbase data. Each company operates in a different sector and is well established — operating for eight to nine years by the time they reached a billion-dollar value.

Related Crunchbase Pro list: The Crunchbase Private Unicorn Company List

See also: The Crunchbase Unicorn Board

🌏 Sustainability-focused funding is falling

Equity funding to startups focused on cleantech and sustainability is down this year. However, that decline is counter-balanced somewhat by ultra-large debt financings for companies in the space.

Related Crunchbase Pro list: Cleantech, EV & Sustainability-Related Funding, H1 2024

πŸ“Š Latin America startup funding rebounds

Funding to Latin American startups rose in the second quarter, led by a resurgence in late-stage dealmaking and a pickup in venture investment in Mexico.

πŸ’° Cyber funding continues bounce-back

Funding to cybersecurity startups had its best quarter in more than two years, with $4.4 billion rolling to VC-backed companies in Q2. The dollar figure is a 63% increase from Q1 — which saw $2.7 billion raised.

Related Crunchbase Pro list: Q2 Cybersecurity Funding

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