Friday, 2 August 2024

AVs getting lion’s share of automaker funding

Agtech sector gains a unicorn

August 2, 2024

Hi, Agen. Despite the hiccups faced by early autonomous vehicle startups, it seems the big automakers are still willing to ride out the bumps in the road. Venture funding to the AV space leads 2024’s investments by giants Toyota, General Motors, BMW and others, with EV production funding close on its heels. Plus, agtech has had its ups and downs, but the last week or so has been good to the sector.

πŸš— Automakers charged up about startups

In a typical year, major automakers participate in several billion dollars worth of startup funding rounds. And so far, 2024 is not bucking the trend.

Related Crunchbase Pro lists:

• Automaker-Backed Funding Rounds

• Automaker Lead Investor Funding Rounds

πŸ’ Superfruit startup has super raise

Los Angeles-based Agrovision is the latest agtech startup to raise big. The company locked up a $100 million round at a reported valuation of $1 billion — minting it as the sector’s newest unicorn.

Related Crunchbase Pro list: Funding To Agriculture And Farming Startups

πŸ€‘ The 10 biggest rounds of July

Skild AI and Element Biosciences led a big July. The month saw its fair share of big rounds — and then some. Startups needed to raise $200 million or more to make the list. While the list saw a lot of the regular sectors like biotech and financial services represented, it also saw some big deals involving supply chain and automotive startups.

Tech jobseekers can learn a lot from the strategies employed by startup founders, writes strategic adviser Itay Sagie. In this guest commentary, he outlines steps that can lead to success for both groups.

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