Unicorn valuations on the chopping block, 10 biggest funding rounds, and more - January 23, 2023

January 23, 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. [The week’s 10 biggest funding rounds from Impel to Pathalys Pharma]( After a strong start to the year, last week slowed way down. Only three rounds on the list hit the $100 million mark, spotlighting biotech and environmental consulting as well as an AI startup that helps people buy a car. [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. [Tech layoff numbers keep rising in January as giants join in]( More than 46,000 workers in U.S.-based tech companies have been laid off in mass job cuts so far in 2023, with tech giants Microsoft and Alphabet joining the parade last week. [Fintech report sees more regulation ahead]( Seed fintech investor Restive Ventures released its State Of Fintech 2023 report, and things don’t look all that great for the sector. Fintechs will likely face more regulations to protect consumers, a tighter Series A environment, and the dangers of too many seed rounds. [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. [Web3 Weekly: Funding down, crypto up]( Something weird is happening on the crypto front. While funding in the sector is down significantly and dropped like a rock last quarter, both ether and bitcoin are at prices not seen since before FTX filed for bankruptcy. A ray of hope for crypto startups, maybe? Crunchbase Pro: Searches and Lists Name Type Entries [Companies that went public in the last year]( Companies 1543 [Norwest Venture Partners exits]( Acquisitions 159 [Catalonia based companies raised more than $1M]( Companies 388 [More Featured Searches and Lists]( [Check out our Crunchbase solutions here]( – prospecting tools made for everyone Recent Investments [Caris Life Sciences]( [$400M]( / [Debt Financing]( Caris is a molecular science company that creates and delivers solutions to transform healthcare and improve cancer patient outcomes. Categories: Biotechnology • Health Care • Health Diagnostics • Medical Founders: [David D. Halbert]( Investors: [OrbiMed]( (Lead), [Braidwell]( [Avanse Financial Services]( [8.0B INR]( / [Private Equity Round]( Avanse is an education-focused non-banking financial company that offers low-interest education loans to Indian students. Categories: Education • Finance • Financial Services • Lending Founders: [Amit Gainda]( Investors: [Kedaara Capital]( (Lead) [SetPoint Medical]( [$80M]( / [Venture Round]( SetPoint Medical develops novel therapeutics for the treatment of chronic autoimmune conditions. Categories: Biotechnology • Health Care • Medical • Therapeutics Founders: [Jim Broderick]( [Kevin Tracey]( [Shaw Warren]( Investors: [Norwest Venture Partners]( (Lead), [Viking Global Investors]( (Lead), [Action Potential Venture Capital]( [+ 13 more]( More Fundings Company Amount / Round Lead Investor [Outrider]( $73M / [Series C]( [Fraser McCombs Capital]( [SetPoint Medical]( $65M / [Debt Financing]( [Runway Growth Capital]( [FARO]( $60M / [Post-IPO Debt]( - [BRAC Bank]( $50M / [Debt Financing]( [KFW DEG]( [Notch]( $10M / [Series B]( [Portage Ventures]( [Breathe Well-being]( 500M INR / [Series B]( [3one4 Capital]( [Obligate]( $4.0M / [Seed Round]( - [Higharc]( $1.3M / [Corporate Round]( [Simpson Strong-Tie Company]( [All Recent Funding Activity]( Recent Acquisitions [Concert Pharmaceuticals]( Pending acquisition by [Sun Pharmaceutical Industries]( for $576M More Acquisitions Company Acquired By Amount [Flooring Liquidators]( [Live Ventures]( $84M [All Recent Acquisition Activity]( Upcoming Tech Events Accelerator Deadlines Date Accelerator Location Jun 30, 2023 [BBN Holding]( Ridgeland Dec 31, 2023 [Soulmates Ventures]( Prague [More Upcoming Deadlines]( Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.