Why VCs are bullish about 2024

Plus, North America ends down year on down note January 8, 2024 Hi, {NAME}. Feeling optimistic about 2024? You’re not alone. [Startup investors we spoke with are pretty upbeat]( about what this year holds for the industry. That’s despite 2023 ending on [a down note for North American startup funding](. 💰 [Forecast: Why VCs are bullish about 2024]( Many venture investors are starting the new year feeling quite good about the startup industry’s prospects in 2024. Funding has likely already hit its low, the exit markets seem poised for a comeback, and the industry appears to be coming to terms with the new normal of work, they argue. 📉 [North American startup funding ends 2023 on a down note]( Hope clearly springs eternal for startup investors. Despite all their positive feelings about 2024, [Crunchbase]( data shows we enter the new year coming off a low for startup funding in North America, the largest market for venture investment. Not only were dollars down in Q4, but deals were too. [Dive in with our year-end report](. 🎮 [Investors press pause on gaming startups]( Although shares of big gaming companies such as [Electronic Arts]( [Nintendo]( and [Sony]( performed quite well last year, smaller startups trying to compete in the space largely struggled to score funding from investors, [Crunchbase]( data shows. Related Crunchbase Pro list: [Gaming-Related Startup Funding]( ✂️ [Tech layoffs continue in new year]( All told, nearly 200,000 U.S. tech workers — in reality, likely many, many more — lost their jobs in 2023. That was more than double 2022’s total. Will 2024 offer some reprieve? Time will tell, but for now it looks like layoffs are continuing in the new year. 📉 [Startup funding in 2023 hit lowest level in 5 years]( It wasn’t just the unicorn startups that were hurting in 2023’s dismal venture funding environment. In fact, early-stage investment declined more than any other funding stage in 2023, falling 40% year over year. We look at that and the other big numbers and trends with our exclusive global startup funding report. 👀 [5 trends we’re watching in 2024, from M&A to IPOs]( Between the rapid ascendance of AI and the often dramatic downfall of startups large and small, [2023 was action-packed](. We expect 2024 to be the year when things settle down a bit — but that doesn’t mean there aren’t some big trends to watch in the new year. [Here are our top five](. Get more with Crunchbase Enterprise Find out more about Crunchbase’s prospecting software that enables your entire team to find the right companies, identify the right people, and connect with the decision-makers who can move deals forward – all in one solution. [BOOK A MEETING NOW]( Recent Investments [Beckley Psytech]( [$40M]( / [Corporate Round]( Beckley Psytech is a clinical-stage biotechnology company that explores the therapeutic potential of psychedelic substances. Categories: Biotechnology • Health Care • Medical Founders: [Cosmo Feilding Mellen]( [Lady Amanda Feilding]( Investors: [ATAI Life Sciences]( (Lead) [Sapphiros]( [$30M]( / [Series B]( Sapphiros invests in growth-stage diagnostic companies, focusing on technologies that prioritize innovation and patient-centric approaches. Categories: Business Development • Health Care • Health Diagnostics Founders: [Namal Nawana]( Investors: [OraSure Technologies]( (Lead) [Nabla]( [$24M]( / [Series B]( Nabla provides a machine learning-powered care platform to build an engaging relationships with patients. Categories: Artificial Intelligence (AI) • Electronic Health Record (EHR) • Health Care • Machine Learning Founders: [Alexandre Lebrun]( [Delphine Groll]( [Martin Raison]( Investors: [Cathay Innovation]( (Lead), [ZEBOX Ventures]( More Fundings Company Amount / Round Lead Investor [Country Delight]( 1.6B INR / [Series E]( [Temasek Holdings]( [Beckley Psytech]( $10M / [Secondary Market]( [ATAI Life Sciences]( [UrbanStems]( $5.0M / [Series C]( [DFE Capital Management]( [All Recent Funding Activity]( Recent Acquisitions [Airon]( Pending acquisition by [Inspiration Healthcare Group]( for $2.5M More Acquisitions Company Acquired By Amount [JOBOX.ai]( [Talus Payments]( Unknown [All Recent Acquisition Activity]( Upcoming Tech Events [DeveloperWeek 2024]( February 21 - 29, 2024 The world's largest developer & engineering technology conference & expo Accelerator Deadlines Date Accelerator Location Jan 31, 2024 [REACH]( Chicago Feb 1, 2024 [We Will Solutions LLC]( Charlotte [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 © 2024 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.