Venture funding for Series B stage U.S. startups is continuing its downward trajectory, with the current quarter of 2023 on track to post the lowest quarterly totals since the last three years. The slump started in Q1 of 2022, with funding declining by 60% YoY in H2 2022.
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- Series B stage startups in the U.S. have raked in $3.5B in venture funding in the current quarter to date.
- In Q4 2022, $6B was invested in Series B stages.
- So far this quarter, only six mega funding rounds of over $100M have closed, a stark contrast to the 90 such rounds closed in the same period a year ago.
- Notable funding rounds closed this year include battery startup Our Next Energy's $300M funding, genetic medicine biotech Aera Therapeutics's $193M funding, and genetic design startup Asimov's $175M round.
- In the Series B stages, fintech, web3, and consumer product startups have witnessed the largest pullback.
