Web3 funding craters

Plus, big tech job cuts keep coming January 22, 2024 Hi, {NAME}. Venture funding to Web3 — that fuzzy, buzzy sector that two years ago [captivated startup investors]( — tanked in 2023, Crunchbase data shows. But as with all things startup-related, hope springs eternal. [Here’s why some founders and VCs are still hopeful about Web3](. (Hint: It has something to do with VCs’ latest obsession). Plus, a look at the [10 largest startup funding deals]( and the [tech layoffs tally]( in the third week of January. ⬇️ [Web3 funding craters]( Funding to startups in the crypto and blockchain sectors tanked in 2023, with Q4 making a particularly poor showing. But for founders and VC firms still interested in the sector, not all hope is lost. See also: [The Crunchbase Web3 Tracker]( ✂️ [Big Tech job cuts keep coming]( [Google]( and [Amazon]( again landed on our Layoffs Tracker, as did a major e-commerce furniture retailer and a social media startup by an [Instagram]( founder. 🏅 [Top 10 deals: $300M for quantum computing ranks No. 1]( Quantum computing, biotech and fintech startups topped the 10 largest U.S. funding deals last week, though only one company cracked more than $100 million. See also: [The Crunchbase Megadeals Board]( 🤖 [AI startup Cohere eyes up to $1B raise]( Nearly three weeks into the new year, and there have been no huge rounds for any AI startups, but that might be about to change with a Toronto-based company reportedly in talks to raise as much as $1 billion in fresh cash. Related Crunchbase Pro list: [Rounds Raised By Startups Using AI In 2023]( 📉 [LatAm went from fastest-growing to shrinking startup investment]( Startups in South America and Central America pulled in an estimated $2.9 billion in seed through growth stage investment in 2023, [Crunchbase]( data shows. That’s a remarkable 84% decline from 2021, when investment hit record-setting levels. IPOs and big-ticket acquisitions have become scarcer too. 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 [DailyPay]( [$100M]( / [Debt Financing]( DailyPay is a financial system platform that offers services to employees for paying bills on time. Categories: Employee Benefits • Enterprise Applications • Financial Services • FinTech Founders: [Jason Lee]( [Robert Law]( Investors: [Citi]( (Lead) [SmartLabs]( [$48M]( / [Series C]( SmartLabs builds and operates labs, including multi-use R&D labs, vivariums, process development, and manufacturing suites. Categories: Biotechnology • Infrastructure • Life Science Founders: [Amrit Chaudhuri]( [Seth Taylor]( Investors: [ArrowMark Partners]( [Conversion Ventures]( [Winslow Capital]( [Oleria]( [$33M]( / [Series A]( Oleria is an identity security company that offers proactive tools for identifying and mitigating risks to organizations. Categories: Cyber Security • Risk Management • Security • Software Founders: [Jagadeesh Kunda]( [Jim Alkove]( Investors: [Evolution Equity Partners]( (Lead), [Salesforce Ventures]( [Tapestry VC]( [+ 1 more]( More Fundings Company Amount / Round Lead Investor [DailyPay]( $75M / [Venture Round]( [Carrick Capital Partners]( [TrusTrace]( 22M EUR / [Series B]( [Circularity Capital]( [WOO Network]( $9.0M / [Venture Round]( - [Briq]( $8.0M / [Series B]( [Blackhorn Ventures]( [All Recent Funding Activity]( Recent Acquisitions [NorCan Electric]( Pending acquisition by [Bird Construction]( for $11M More Acquisitions Company Acquired By Amount [EFT Corporation]( [Ukheshe Technologies]( Unknown [All Recent Acquisition Activity]( Upcoming Tech Events [Insurtech NY 2024 Spring Conference]( March 20 - 21, 2024 in New York Annual insurtech conference, showcasing industry speakers and a global insurtech startup competition. Accelerator Deadlines Date Accelerator Location Jan 31, 2024 [MedTech Color - Diversifying Medtech]( Encino 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.