Venture Funding Set To Hit Lowest Level Since 2020

Venture capital-backed startups raised far fewer rounds of funding during the past three months than they did during the more ebullient days of late last year and early this year, according to new data from analytics firm CB Insights. From a report: Deal activity across the globe dropped 23% between the first quarter and second quarter of this year, the firm found, using data for the second quarter through June 23. That's a stark contrast to the previous quarter, where the deal count dropped only 1.4% -- and an indication that the roiling of the crypto and public markets are affecting private companies. Investors are not just writing fewer checks but also smaller ones. The total funding amount going to startups for the current quarter to date dropped 27% compared to the first quarter. Those numbers are likely to change before the second quarter is officially over in a week, but the drop appears to be more severe than the 19% CB Insights had predicted just a month ago. Late-stage companies are getting squeezed particularly hard: Funding in Series D rounds or beyond dropped 43%.

Read more of this story at Slashdot.