Unicorn valuations face hard reset and a psychedelics shakeup, and more - January 19, 2023

January 19, 2023 [Unicorn valuations on the chopping block]( The ranks of [The Crunchbase Unicorn Board]( have swelled in the past two years, adding almost 1,000 new companies and trillions of dollars in reported value. But now, as private company valuations go through a hard reset in a tough market, the board faces a reckoning. [Psychedelic therapy OK in Oregon. Are investors and startups ready?]( Oregon has approved the legal use of psilocybin, or “magic mushrooms,” in a therapeutic setting. California and Colorado are expected to pass similar laws soon. We look at whether startups and investors in the space are prepared for this new era in treatment. [Sequoia announces new $195M seed fund]( We’re starting to see where all that dry powder is going. After a relatively quiet year on the private markets, venture firms are getting back into the funding game. Sequoia, a long-standing venture capital firm, announced a new $195 million fund for seed-stage startups. [Shell buying Volta for less than amount it raised]( Normally, if a still-operating startup gets acquired by a $210 billion company, venture backers are pretty happy with the outcome. But in the case of electric vehicle charging network Volta, that does’t appear to be the case. Shell says it will pay just $169 million to buy the company, which went public via SPAC in 2021. [Top seed trends: carbon capture, women’s health, AI productivity]( Seed startup funding tends to be somewhat resistant to downturns, and this time is no exception. These four emerging sectors continue to attract investment with advances in carbon capture, women’s health, hybrid work and, of course, artificial intelligence. [Media startup Semafor wants to buy back Bankman-Fried’s stake]( News startup Semafor is looking to purchase Sam Bankman-Fried’s stake in the company as the disgraced FTX co-founder faces charges. The news startup raised nearly $25 million before its launch in October, with Bankman-Fried’s portion being about $10 million. [Buyers call bluff on unicorn valuations in secondary markets trading]( Those astronomical unicorn valuations? Buyers of shares in pre-IPO companies don’t believe them. At least that’s what the data from secondary markets platforms seems to show: The discrepancy between what sellers are asking for and what buyers are willing to pay has grown to around 22%. [The Megadeals Leaderboard: Track $100M+ rounds]( Keep track of the largest startup funding deals in 2023 with our new curated list of $100 million-plus venture deals to U.S.-based companies. Powered by Crunchbase’s comprehensive data, this leaderboard is updated weekly as companies raise large rounds. Crunchbase Pro: Searches and Lists Name Type Entries [Business Intelligence companies funded in the last 3 months]( Companies 271 [Chatbot ranked companies in Crunchbase]( Companies 139 [Investments in coffee companies in the past 3 years]( Funding Rounds 182 [More Featured Searches and Lists]( [Check out our Crunchbase solutions here]( – prospecting tools made for everyone Recent Investments [iQiyi]( [$442M]( / [Post-IPO Secondary]( iQiyi is an ad-supported television and movie portal providing fully-licensed media content. Categories: Content • Internet • Media and Entertainment • TV Founders: [Yu Gong]( [Fulcrum Therapeutics]( [$125M]( / [Post-IPO Equity]( Fulcrum Therapeutics is a biotechnology company that focuses on identifying and treating rare genetic diseases at their root cause. Categories: Biotechnology • Genetics • Health Care • Therapeutics Founders: [Bradley Bernstein]( [Danny Reinberg]( [Jeannie T. Lee]( [Michael Green]( [Rudolf Jaenisch]( [Impel]( [$104M]( / [Venture Round]( Impel offers a digital engagement platform for vehicle retailers or every type and size. Categories: Augmented Reality • Automotive • Enterprise Software • Marketplace • SaaS Founders: [Devin Daly]( [Michael Quigley]( Investors: [Silversmith Capital Partners]( (Lead), [Wavecrest Growth Partners]( More Fundings Company Amount / Round Lead Investor [Mad Street Den]( $30M / [Series C]( [Avatar Growth Capital]( [Carry1st]( $27M / [Series B]( [BITKRAFT Ventures]( [Authenticx]( $20M / [Series B]( [Blue Heron Capital]( [Parfin]( $15M / [Seed Round]( [Framework Ventures]( [CloseFactor]( $15M / [Series A]( [Sequoia Capital]( [Amberflo]( $15M / [Series A]( [Norwest Venture Partners]( [Vodafone]( Unknown / [Post-IPO Equity]( [e&]( [All Recent Funding Activity]( Recent Acquisitions [S&P Global Engineering Solutions]( Pending acquisition by [Kohlberg Kravis Roberts]( for $750M More Acquisitions Company Acquired By Amount [Don Papa Rum]( [Diageo]( 260M EUR [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. 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