Tuesday, 13 August 2024

July mints baker’s dozen unicorns

WeRide's autonomous IPO journey

August 13, 2024

Hi, Agen. The Crunchbase Unicorn Board gained a baker’s dozen of billion-dollar companies in July. That number tied with March for the most unicorns joining the board so far in 2024. Plus, China’s autonomous vehicle startup WeRide hits the road for a Nasdaq listing.

🦄 New unicorn counts jumped in July

The Crunchbase Unicorn Board gained a baker’s dozen of newly minted billion-dollar companies in July. Nine of the new herd came from the U.S., while two healthcare companies joined from the U.K., along with a green energy company from China and a bike taxi startup from India.

See also: The Crunchbase Unicorn Board

🚕 WeRide is a test drive for a slow IPO market

In recent months, the tech IPO market has been stuck in what seems to be the slowest gear imaginable. Action will pick up in coming days, however, with the expected Nasdaq debut of Chinese autonomous driving startup WeRide.

Related Crunchbase Pro list: Autonomous Vehicles Startup Funding

💰 A16z, General Catalyst lead most-active US investors for July

No venture firm went very big in a hot July. Andreessen Horowitz was the only VC firm to hit double digits in funding rounds for U.S.-based startups in the month, with General Catalyst and Sequoia Capital coming in next on the list.

🏆 The week’s 10 biggest funding rounds

Last week saw the second-biggest raise of the year, as Anduril Industries’ monster raise ranks behind only xAI’s massive $6 billion in May. There were also some huge rounds in the world of cybersecurity, travel and of course, biotech.

See also: The Crunchbase Megadeals Board

🤑 Arguing the case for uncapped SAFEs

Whether capped, uncapped, discount-only or combined, SAFEs need to evolve with the times. In this guest commentary, Dan Gray of Equidam lays out the SAFE use cases.

✂️ Tech layoffs continue with Dell, Techstars reporting cuts

It was a busy week-plus with 10 companies joining our Tech Layoffs Tracker with hardware heavyweight Dell adding a yet-to-be-determined employee count to its layoff tally. Even startup accelerators are feeling the pinch with Techstars reporting its second round of layoffs so far this year.

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