Truck startups keep breaking VC hearts

Plus, meet the new AI unicorns of 2023 October 27, 2023 Hi, {NAME}. How many VCs are sobbing into their beers about the billions of dollars lost on truck startups? For many, the outcome of their investments in startups from [Embark Trucks]( to [Lordstown Motors]( reads like the lyrics to a sad country song: Lots of truck references combined with a love affair that ultimately leads to heartbreak and sorrow. Today, in the wake of trucking logistics startup [Convoy]( announcement this month that it’s shutting down, we look at [the many unsuccessful truck investments venture capitalists have pursued in recent years](. 🦄 [Meet the new AI unicorns of 2023]( One in five of the new unicorns to join [The Crunchbase Unicorn Board]( this year is an AI company, our analysis of the data shows. We look at those companies, which span AI sub-sectors from large language models to defense-related artificial intelligence. See also: [The Crunchbase Unicorn Board]( 💔 [Truck startups keep breaking VC hearts]( When it comes to trucks, venture capitalists are basically the opposite of country singers, who apparently only need to add a truck reference to any song for a guaranteed hit. In fact, in many cases where VCs start dabbling with pickups and long-haul tractor-trailers, the results have been major flops that end in bankruptcies or sharp stock-price declines. 🤑 [How optimistic is a16z? What its deal numbers show]( [Andreessen Horowitz]( — known for its bets on then-startups such as [Facebook]( [Instagram]( and [Airbnb]( — has slowed its investment pace significantly in recent quarters, [Crunchbase data shows]( signaling that it’s not as bullish in the current market as it’s been in the past. At the same time, while a16z has pulled back, it still far outpaces other big firms such as [Sequoia Capital]( and [Lightspeed Venture Partners]( and even large growth players like the [SoftBank Vision Fund]( and [Tiger Global](. Let’s take a look. Related Crunchbase Pro list: [Andreessen Horowitz’s 2023 Investments]( 🏁 [An IPO checklist to take your startup public]( The IPO market seems to be perking up. If you’re a startup CEO thinking about taking your company public soon, here’s a three-part checklist from guest author [Mike Whitmire]( who’s worked alongside several companies in the IPO process. Related Crunchbase Pro list: [Startup IPOs of 2023]( [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 [Redfin]( [$250M]( / [Post-IPO Debt]( Redfin is a technology-powered real estate brokerage company that simplifies the process of buying and selling homes. Categories: Internet • Property Management • Real Estate Founders: [David Eraker]( [David Selinger]( [Michael Dougherty]( Investors: [Apollo]( (Lead) [YouTrip]( [$50M]( / [Series B]( YouTrip is a multi-currency mobile wallet that allows users to pay overseas with no transaction fees. Categories: FinTech • Mobile Payments • Payments Founders: [Arthur Mak]( [Caecilia Chu]( Investors: [Lightspeed]( (Lead) [Chkk]( [$5.2M]( / [Seed Round]( Chkk helps enterprises minimize availability risks and ensure safe upgrades for mission-critical applications running on Kubernetes Categories: Cloud Infrastructure • Developer Tools • Enterprise Software • SaaS Founders: [Ali Khayam]( [Awais Nemat]( [Fawad Khaliq]( Investors: [Sequoia Capital]( (Lead) More Fundings Company Amount / Round Lead Investor [CentML]( 37M CAD / [Seed Round]( [Gradient Ventures]( [Wow! Momo]( 750M INR / [Series D]( [ValueQuest Investment Advisiors]( [Blubirch]( 530M INR / [Series A]( [Capital 2B]( [Garuda Aerospace]( 250M INR / [Series A]( [Venture Catalysts]( [All Recent Funding Activity]( Recent Acquisitions [New Door Hostels]( Pending acquisition by [Alta Capital]( for 27B INR More Acquisitions Company Acquired By Amount [HIS Innovations Group]( [Ultra Clean Holdings]( $50M [All Recent Acquisition Activity]( Upcoming Tech Events [Global AppSec DC 2023]( October 30 - November 3, 2023 Global AppSec DC 2023 is an event for private and public sector infosec professionals. 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.