Startup investors flee the metaverse

Plus, January layoffs pile up January 16, 2024 Hi, {NAME}. Happy New Year? Not for employees at the [nearly 30 companies that joined our Tech Layoffs tracker last week]( when at least 4,000 U.S. tech workers lost their jobs at companies ranging from tech giants (ahem, [Google]( [Amazon]( to smaller startups that will shut down entirely. And despite all the buzz around [Apple]( fancy new virtual reality headset, [startup investors have been fleeing the metaverse]( our data shows. On a more positive note, while it usually takes a couple of weeks after New Year’s Day for the funding market to heat up, last week already saw three nine-figure deals for U.S. startups top our [10 largest funding deals list](. 🏃 [Startup investors flee the metaverse]( Almost no investors are backing fresh rounds for startups creating the next generation of virtual worlds, [Crunchbase]( data shows. Investment around metaverse, virtual worlds and augmented reality themes hit a multiyear low in 2023, driven by declining support for consumer-focused startups. Related Crunchbase Pro list: [Metaverse, Virtual Reality, And Augmented Reality Funding, 2023]( 🏅 [Top 10 funding deals: New year starts strong]( Huge funding deals to U.S. startups last week were spread across a variety of sectors, including entertainment, cyber, gaming, health care and others. We even saw a well-known company that hasn’t raised cash for seven years lock up a big round. See also: [The Crunchbase Megadeals Board]( 🪓 [Nearly 30 companies join Layoffs Tracker in one week]( U.S. tech job cuts last week totaled more than 4,000 at close to 30 companies and ran the gamut from cuts at Big Tech companies to a slew of smaller startups cutting jobs or announcing total shutdowns or future plans to close up shop. 💸 [Which fintech sectors are VCs bullish about in 2024?]( Fintech — once the startup sector that drew more money than any other — is no longer the No. 1 investor favorite, but still drew billions of dollars in capital in 2023. We look at what happened with the sector in 2023 and hear from investors about what to expect this year. Related Crunchbase Pro list: [Funding To Financial Services Companies In 2023]( 🤑 [A16z tops active investor ranks in slow year]( [Andreessen Horowitz]( reclaimed its frontrunner status among active startup investors in 2023, as firms such as [Tiger Global Management]( and [SoftBank Vision Fund]( retreated in a slow year for venture spending. 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 [Chobani]( [$500M]( / [Debt Financing]( Chobani is a food company that produces and markets Greek yogurt crafted from natural ingredients. Categories: Food and Beverage • Food Processing • Manufacturing Founders: [Hamdi Ulukaya]( [1X]( [91M EUR]( / [Series B]( 1X is an AI and robotics company that designs and develops humanoid robots to address global labor needs. Categories: Artificial Intelligence (AI) • Hardware • Manufacturing • Robotics Founders: [Bernt Øivind Børnich]( [Phuong Nguyen]( Investors: [EQT Ventures]( (Lead) [Artisight]( [$42M]( / [Series B]( Artisight is an IoT sensor network for healthcare to provide virtual care, quality improvement, and care coordination solutions. Categories: Health Care • Hospital • Internet of Things • Medical • Sensor Founders: [Andrew Gostine]( [Garrett Larance]( [Timothy Koby]( Investors: [NVIDIA]( More Fundings Company Amount / Round Lead Investor [Cabify]( 15M EUR / [Debt Financing]( [BBVA Spark]( [Proscia]( $9.0M / [Venture Round]( - [1X]( Unknown / [Secondary Market]( - [All Recent Funding Activity]( Recent Acquisitions [Global Infrastructure Partners]( Pending acquisition by [BlackRock]( for $12B More Acquisitions Company Acquired By Amount [Insemi Technology]( [Infosys]( 2.8B INR [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 Feb 16, 2024 [FoundersBoost Pre-Accelerator]( Santa Monica Feb 28, 2024 [Motor Valley Accelerator]( Modena [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.