Q1 was second-lowest quarter for global start-up funding since the start of 2018
That's according to Crunchbase data which found two bright spots that combined for 41 percent of funding raised.
Gené Teare writes in this Crunchbase News article that the first quarter of 2024 was the second-lowest on record for global start-up funding since the beginning of 2018, according to an analysis of Crunchbase data.
“Global venture funding reached $66 billion in the first quarter, up 6 percent quarter-over-quarter but down 20 percent year-over-year,” she wrote in citing the organization’s data. “The lowest in the past six years was the previous quarter, Q4 2023. While funding amounts for the most recent quarter will increase a bit over time as data is added and reviewed, the overall investor outlook remains cautious.”
Two sectors stood out.
- Healthcare and biotech companies raised the most amount of funding in Q1. Businesses in that sector raised $15.7 billion, or 24 percent of all global funding, in Q1.
- Artificial intelligence (AI) continued to stand out as a leading sector for investment in the first quarter. Companies in that sector raised $11.4 billion in Q1, or around 17 percent of global funding.
