Tuesday, 27 August 2024

China venture funding is tumbling

Plus, U.S. seed and early-stage median dollars rise

August 27, 2024

Hi, Agen. Despite those Q2 2024 big rounds for Hozon, MiniMax and Unisoc, early-stage and growth funding to China continues to plummet. Plus, the first half of 2024 saw the median round size for funding at seed through Series C in the U.S. pick up. And GoPro debuts on The Crunchbase Tech Layoffs Tracker.

📉 China’s venture funding is tumbling

Venture funding to Chinese startups seems almost certain to hit its lowest point in a decade as early-stage funding continues to plunge and growth rounds get smaller, according to Crunchbase. Not even AI is saving the day.

US seed and early-stage median round sizes picked up in H1

For a decade, U.S. seed and early-stage median round sizes saw consistent increases — until 2023 when the venture market slowed. Fast-track to the first half of this year and that trend seems to have reversed again as the median round size for funding at seed through Series C has picked up.

Related Crunchbase Pro list: US Series A And B Fundings In 2024

✂️ Tech layoffs adding up

Nine companies joined The Crunchbase Tech Layoffs Tracker last week, ranging from New York’s e-commerce furniture reseller Kaiyo to San Mateo, California-based extreme action video photographer GoPro.

🏆 Last week’s 10 biggest funding rounds

Another slow week with only three companies raising rounds of more than $100 million. In fact, you didn’t even need to raise $50 million to make the list last week. Investors certainly put their money everywhere, from biotech to productivity tools, but they didn’t shell out a lot.

See also: The Crunchbase Megadeals Board

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