Amidst a public market downturn, rising inflation, and fears of an economic recession, several industries are witnessing a drop in venture capital financing. Crunchbase rounded up a few affected and unaffected sectors in 2022. Cybersecurity, biotech, proptech, and climate tech have been the most well-funded industries in 2022, while cryptocurrencies and the electric car industries have witnessed a drop in funding. More: - Cybersecurity:
- The sector saw a recorded-setting influx of venture capital last year.
- In the first half of this year, the industry has minted over 12 unicorns.
- Investors expect the funding to be consistent; however, valuations will likely be reduced, and early-stage startups, encryption tech, and Web3 security firms may find it difficult to secure funding.
- Biotech:
- Sector funding in the first five months totaled $24B, well below 2021's record-setting $72B but still on track to beat 2020's total of $49B.
- Recent highest funding rounds include biomanufacturing company Resilience's $625M Series D round and low-cost sequencing platform Ultima Genomics' $600M funding.
- Reduced IPO exit opportunities mean that funding might be slightly reduced.
- Proptech:
- The industry has raised $12.4B this year so far, higher than the $11.4B amassed in the same period in the preceding year.
- Investment in the proptech sector is expected to remain robust.
- Climate tech:
- The industry has remained resilient, with climate tech startups in roughly the past year pulling in $1.6B in funding.
- Funding in 2022 has remained strong, with decarbonization platform Arcadia's $200M Series E financing in May being the top funding round this year.
- Crypto:
- Because of the decline in cryptocurrency prices, investors' view has shifted to one of caution.
- Venture funding has reduced, with the downward trend expected to continue in the second half of the year.
- Electric vehicle:
- In 2022, the EV sector raised $5.8B to date, $1.9B lower than the $7.7B raised in the same period last year.
- According to CFRA, an automotive research organization, investors are wary of the market and predict EV startup valuations to fall.
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New York-based Capital Rx, a pharmacy benefits management solution provider, raised $106M in Series C funding. The B Capital-led funding brings the firm’s total amount raised to date to over $175M. The company’s valuation was not disclosed. More: - General Catalyst, Transformation Capital — who led its $50M Series B round in Feb. 2021 — and Edison Partners participated in the funding.
- Edison Partners led Capital Rx’s $12M Series A round in June 2019.
- Capital Rx’s JUDI platform helps implement prescription drug plans, claims processing, and billing at pharmacies as well as insurance companies.
- The company claims that customers on average save 27% using their platform.
- The company currently has 150 customers with 1.2 million users and expects to acquire 1 million additional users in 2023.
- In the last year, Capital Rx reported $429M in gross revenue, with this year’s advance estimates topping $814M.
Zoom out: - According to the Congressional Budget Office analysis, the total amount spent on prescription drugs has risen from $30B in 1980 to $335B in 2018, with each individual averaging $1,073 per year.
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Israel-based AI-powered automated sports video and analytics platform Pixellot secured $161M in capital. PSG led the Series D round with participation from Israeli Secondary Fund (ISF). Incoming funds will help the firm to scale operations, expand into new verticals, venture into Asia and Latin America, and introduce new features on its platform. More: - Pixellot provides automated filming, broadcasting, streaming, engagement, monetization, coaching, and analytics solutions for 17 sports, including football, basketball, ice hockey, baseball, volleyball, handball, and cricket.
- The platform has been used to live broadcast 2 million games across 70 nations.
- Over 23,000 courts leverage Pixellot’s platform to produce live coverage of 350,000 contests every month.
- PSG’s managing director Ronen Nir and principal Govind Anand join Pixellot’s board as part of the funding.
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U.K.-based Founders Factory announced a $122M (£100M) fund, called the Planet Fund, to back early-stage climate startups. British media group Sky has backed the fund and will move its venture arm, Sky Ocean Ventures, into it. Sky Ocean Ventures was founded in 2018 with $30M (£25M) in capital and has invested in 25 startups. More: - Along with the new funds, the Planet Fund is also set to receive the proceeds from Hewlett-Packard's acquisition of Sky Ocean Ventures' portfolio business Choose Packaging, a paper bottle manufacturer.
- The fund will focus on innovative startups working across decarbonization, resource preservation, climate resilience, and circular economy.
- Founders Fund CEO Henry Lane Fox will lead the Planet Fund, which will be chaired by Sir Ian Cheshire, former Kingfisher boss and chair of Channel 4.
Zoom out: - A PwC report indicated that over 3,000 climate tech startups secured $87.5B in investments between the second half of 2020 and the first half of 2021, with nearly 65% of the funding totaling $56.5B received by the U.S.-based startups.
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 A message from NANOVMS NanoVMs is running an equity based crowdfund and is now open to the public for investment. NanoVMs is creating a new server-side operating system with unikernels. Current highlights: - Revenue from 11 countries including a $950M ID/IQ from the USAF
- 4 Patent Issued, 4 More Filed
- Raised $3M to date
- 3 Grants from the US Air Force, Dept. of Energy, and National Science Foundation
NanoVMs is a category creator. The global cybersecurity market was valued at $132 billion in 2021 while the devops market exceeded $7 billion in 2021. NanoVMs is making devops work super easy while at the same time providing proactive defensive security measures from a hacker mindset. Existing investors include Initialized Capital, Joe Montana's fund L2 Ventures, Bloomberg Beta, Hack.VC, Inner Loop Capital and more. Start Investing Here
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Magic Spoon, a low-carb cereal brand, secured $85M in funding led by HighPost Capital. The Series B funding round will allow the company to expand into retail, accelerate growth, and increase brand awareness. Several celebrities, including Nick Jonas, The Chainsmokers, Halsey, Nas, Shakira, Russel Westbrook, Amy Schumer, and Odell Beckham Jr., participated in the funding. More: - Other funding round participants include Siddhi Capital, Coefficient Capital, and Constellation Capital.
- The company also partnered with Target to make three of its branded products available across the retailer's 1,300 stores.
- Magic Spoon, which had primarily been a direct-to-consumer brand, reported that its products were shipped to over 1 million customers in the last three years.
- The company had last raised $9M in a venture funding round in Nov. 2020, prior to which it secured $5.5M in seed funding in Sept. 2019, led by Lightspeed Venture Partners.
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Los Angeles-based life- and physical-sciences venture capital firm Kairos Ventures secured $58M for its third fund. The firm backs university spinouts and also provides grants to academic researchers ranging from $100,000 to $200,000. To date, the firm has backed over 120 research programs and invested in 55 startups. More: - Notable portfolio companies include University of Southern California spinout combustion engine ignition technology company Transient Plasma Systems Inc. and 3D printed tissue implant manufacturer 3DBio Therapeutics.
- The firm has made 27 investments from its Fund III, including fully vascularized human organoids firm Vivodyne, aircraft and drone manufacturing company PteroDynamics, and development stage biotech company Linnaeus.
- The entire fund is close to being fully invested, with remaining funds set aside for follow-on investments into existing companies.
- Kairos was formed by Jim Demetriadeds, who previously founded SeeBeyond, with a view to leverage science to solve humanity’s greatest challenges.
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- California-based early-stage healthcare startup backer Wavemaker Three-Sixty Health raised $64M for its second fund. The firm expects to back 40-50 early-stage companies, primarily in the U.S.
- Bill Gates and Baillie Gifford co-led a $135M funding into Seattle-based solid-state radar manufacturer Echodyne. Northrop Grumman Corporation, NEA, Madrona Ventures, Vulcan Capital, and Vanedge Capital participated in the funding.
- ImCheck Therapeutics, a French biotech company developing immunotherapeutic antibodies, raised $103M (€96M) in a Series C funding round led by Earlybird and Andera Partners. Kurma Partners, Eurazeo, Gimv, EQT Life Sciences, Boehringer Ingelheim Venture Fund, Pfizer Ventures, Bpifrance, and others participated in the funding.
- Florida-based flavored water company Cirkul closed its SC Holdings-led Series C funding round with $70M of capital at a $1B pre-money valuation.
- Social impact program management platform Submittable received $47M from its Series C fundraise. Next Coast Ventures, True Ventures, Next Frontier Capital, StepStone Group, and Flywheel Ventures backed the Accel-KKR-led funding round.
- Tiger Global led a $20M Series A funding round into Seattle-based healthcare distribution solution provider Bttn. Fuse participated in the funding round, which valued the firm at $110M.
- OKAPI:Orbits raised $5.75M (€5.5M) in seed funding led by MunichRe Ventures, with participation from Dolby Family Ventures, Herius Capital, and APEX Ventures. The German spacetech company is creating collision avoidance software for satellites by mapping the satellites, objects, and space debris floating in celestial space.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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NanoVMs is a privately held deep tech company from SV. Learn more about investing here. | |
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