Startup M&A plummets 31%

Plus, Big Tech job cuts continue January 29, 2024 Hi, {NAME}. Startup buyers are apparently the ultimate bargain shoppers. [M&A involving venture-backed startups hit an eight-year low last year]( Crunchbase data shows, with buyers likely waiting to see just how far startup valuations will drop. Plus, let’s look at [last week’s layoffs]( and [10 largest U.S. funding deals](. 🛑 [Startup M&A plummets 31%]( The strategic and private equity buyers who typically scoop up startups held tightly to their wallets last year, worsening already tough times in which [funding is scarce]( and IPOs scarcer. Only 1,738 venture-backed startups were acquired globally — the lowest amount since 2015, when 1,687 startups were bought — [per Crunchbase data](. We talk with investors about what this year holds for startup M&A and whether we’ll see dealmaking perk up. Related Crunchbase Pro lists: • [M&A Involving VC-Backed Startups In 2023]( • [M&A Involving U.S.-Based, VC-Backed Startups]( 🏅 [Top 10 funding deals: Energy, rewards and fintech score big]( For a change, you had to go all the way to No. 4 on our list of [10 largest U.S. startup funding deals last week]( to find an AI company. Energy, loyalty rewards and fintech startups all scored bigger rounds, with the No. 1 deal coming in at a whopping $500 million. See also: [The Crunchbase Megadeals Board]( 🪓 [Big Tech and Flexport job cuts continue]( More than 5,800 U.S. tech workers lost their jobs last week, many at Big Tech companies including [Microsoft]( [Google]( and [Salesforce]( and others who didn’t survive the third known round of cuts in a year at logistics unicorn [Flexport](. 🤖 [Musk’s xAI reportedly in talks for $6B deal]( [xAI]( [Elon Musk]( [OpenAI]( competitor, is reportedly in talks to raise as much as $6 billion from investors — or 6x as much as previous reports said the entrepreneur’s AI startup was seeking. 🌱 [What it’s like to raise a seed round in this market]( Investors say that while [seed funding has held up better]( than other startup investment stages, these very young startups will see lower valuations and must now clear a much higher bar to get backing. 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 [Infinite Roots]( [53M EUR]( / [Series B]( Infinite Roots is a biotech company that produces sustainable foods from the roots of mushrooms using fermentation. Categories: Biotechnology • Food and Beverage • Health Care Founders: [Mazen Rizk]( Investors: [Dr. Hans-Riegel Stiffing]( (Lead), [European Innovation Council]( (Lead), [Betagro]( [+ 6 more]( [Sonder]( [16M AUD]( / [Series B]( Sonder is an employee care platform that helps organizations in enhancing the well-being of their workforce. Categories: Health Care • Mental Health • Software • Wellness Founders: [Christopher Marr]( [Craig Cowdrey]( [Peter Burnheim]( Investors: [SEEK]( (Lead), [Blackbird Ventures]( [Saniel Ventures]( [+ 1 more]( [Swift Medical]( [$8.0M]( / [Venture Round]( Swift Medical is a digital health technology that improves the prevention, treatment, and management of wounds. Categories: Health Care • Medical • Medical Device • Software Founders: [Carlo Perez]( [Edwin Liang]( [Sheila Wang]( Investors: [BDC Capital’s Women in Technology Venture Fund]( (Lead), [Virgo Investment Group]( (Lead) More Fundings Company Amount / Round Lead Investor [Aakash Educational Services]( 25B INR / [Funding Round]( [Ranjan Pai]( [Newme]( 450M INR / [Seed Round]( [Fireside Ventures]( [Audioshake]( $1.4M / [Seed Round]( [bValue Fund]( [MioTech]( Unknown / [Venture Round]( - [All Recent Funding Activity]( Upcoming Tech Events [Education 2.0 Conference USA]( March 18 - 20, 2024 in Las Vegas Education Outstanding Leadership Award Accelerator Deadlines Date Accelerator Location Feb 25, 2024 [ICELab]( Gunnison 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.