Web3 funding craters, but is the sector totally dead?

Funding to India’s startups doesn’t pace with population growth April 20, 2023 [Web3 funding drops hard in Q1]( Web3 funding is down, but so is funding everywhere. Instead of pouring big money into the next exchange or lender, VCs seem to be concentrating on blockchain infrastructure players to help build the foundation for Web3. We take a look at what happened in Q1. [As India’s population grows, what does startup funding look like?]( India will eclipse China as the world’s most populous country by mid-2023, the [United Nations]( announced this week. Venture funding to the two Asian countries, however, runs counter to their population trends, Crunchbase data shows. For perspective, here’s a look at the [largest VC deals to India-based startups since 2020]( and the [largest VC deals to China-based startups since 2020](. [5G chip startup EdgeQ lands $75M round]( Santa Clara-based [EdgeQ]( locked up a $75 million investment round — the largest raise this year by a U.S.-based semiconductor startup. Last year saw U.S.-based, [VC-backed semi startups raise only $1.7 billion in 57 deals]( — down from $2.3 billion in 68 deals in 2021, according to Crunchbase data. [Noah Medical announced $150M for a robot that goes in your lungs]( The funding comes just a month after the [Food and Drug Administration]( cleared [Noah Medical]( lung bronchoscopy device for commercial use in the U.S. [The list of big, losing startup acquisitions grows longer]( No investor sets out with the intention to buy high and sell low. However, that’s often how deals turn out as once-glittering (and pricey) acquisitions lose their luster. This month alone, [Uber]( sold ride-hailing app [Careem]( and [Walmart]( unloaded menswear retailer [Bonobos]( with both companies recouping only a fraction of what they paid. We look at some of the most overpriced purchases of the past few years. [Top 10 rounds: Clear Street and Astranis raise huge rounds]( After several slow weeks, startups saw a nice infusion of cash last week, as seven U.S.-based startups raised nine-figure rounds. Startups in sectors ranging from fintech to fitness and biotech to identity all saw big raises as investor spending picked up in April. [The party’s still over: the VC downturn in six charts]( For VC investors and startups alike, this year’s first quarter was a painful hangover from 2022, the year that ended the glitzy venture funding party that was 2021. Has VC funding hit bottom, or do round sizes and deal counts have further to fall? We look at six charts from [Crunchbase]( Q1 2023 numbers to find out. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [TAQA]( [$1.5B]( / [Post-IPO Debt]( TAQA provides energy and water to communities around the world. Categories: Energy • Finance • Industrial • Oil and Gas • Water Founders: [Khaled Abubakr]( [Legendary Entertainment]( [$800M]( / [Debt Financing]( Legendary Entertainment is an entertainment company focused on producing digital comics and television. Categories: Content Delivery Network • Film • Film Production • Media and Entertainment • TV Founders: [Thomas Tull]( Investors: [JP Morgan]( (Lead) [Odeko]( [$53M]( / [Series D]( Odeko develops a business-grade software platform for small enterprises. Categories: Business Development • Operating Systems • Software Founders: [Dane Atkinson]( Investors: [B Capital Group]( (Lead), [American Express Ventures]( [FJ Labs]( [+ 3 more]( More Fundings Company Amount / Round Lead Investor [SpecterOps]( $25M / [Series A]( [Decibel Partners]( [CrowdProperty]( 15M GBP / [Debt Financing]( [British Business Investments]( [nZero]( $16M / [Series A]( [Fifth Wall]( [Harpe Bio]( $10M / [Convertible Note]( [ADM Ventures]( [Fervo Energy]( $10M / [Corporate Round]( [Devon Energy Corporation]( [Spectral MD]( $4.0M / [Grant]( [Medical Technology Enterprise Consortium]( [All Recent Funding Activity]( Recent Acquisitions [Bellus Health]( Pending acquisition by [GlaxoSmithKline]( for $2.0B More Acquisitions Company Acquired By Amount [Sfax Petroleum Corporation]( [Panoro Energy Asa]( $18M [All Recent Acquisition Activity]( #{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.