The Week 50 for startup funding commenced on 10th November 2018 and here is an update on what went down in this week of funding. Last week, 288 deals were signed to raise $7.09 billion. In addition, another 42 deals were signed as well but whose investment amount was not disclosed. This marks an 18.7% increase in the number of deals and a 19.2% increase in the investment amount raised, as compared to the statistics of the previous week.
Funding Stage Highlights
Seed round of funding took the lead last week when it comes to the total number of deals signed, while on the other hand, Series C has shined with the maximum amount invested in total. Last week, the Venture funding rounds saw a 16.2% increase in the number of deals, while the investment amount raised was nearly the same as the week before. Seed funding saw a 49.2% increase in the number of deals; however, the investment amount raised went down by 35.6%.
As per the research conducted by Yostartups team, the top sectors to shine in the Week 50 for startup funding are Software & SaaS, Health & Wellness, FinTech, MedTech, and Media & Entertainment. These sectors have recorded the highest number of deals in Week 50 accounting for 51.7% of the total disclosed deals. When we talk about industries that performed well by raising impressive amounts last week, Real Estate, FinTech, Software & SaaS, MedTech, and Transportation & Logistics lead with a combined investment received of $4.64 billion. The average investment raised during Week 50 of funding is $24.45 million.
Funding Highlights of the Week – Companies and Investors
The Real Estate sector dominated the Funding highlights of week 50. Midici Living, a Germany based company that develops and operates innovative and digitalised co-living concepts worldwide, raised $1.1 billion from Corestate Capital. Minted, a US-based company that crowdsources graphic designs and content from a global design community for home décor, raised $208 million from T. Rowe Price and Permira.
Two companies in the Fintech sector feature in the funding highlights of week 50. Thincats, a UK based peer to peer lending platform specialising in loans with security, raised $251 million from undisclosed investors. Plaid, a US-based company, raised $250 million from Kleiner Perkins. Plaid is an API to power developers of financial services applications and help them connect with user bank accounts.
The remaining highlights of the week represent diverse sectors. Three US-based companies – Zymergen, Niantic and 8minutenergy Renewables – raised $400 million, $200 million and $200 million respectively. Zymergen discovers and engineers new molecular products and improves existing ones, and raised Series C funding from SoftBank Vision Fund. Niantic builds augmented reality platform for current and future generations of AR hardware, and they too raised their Series C funding from Institutional Venture Partners. 8minutenergy Renewables, a developer of solar PV and energy storage projects, raised Private Equity from Upper Bay Infrastructure Partners and J.P. Morgan Asset Management.
Additionally, G7, a China-based fleet management service provider that offers IoT/AI services to over 500,000 vehicles, raised $320 million from HOPU Investment Management Company. Luckin Coffee, a China-based professional coffee service provider, raised $200 million from GIC and CICC. Byju’s, an India based e-learning platform raised $322 million from Naspers.
Overall in week 50 in startup funding and investments, 328 companies in 42 countries raised investments. Compared to week 49, this marks a 17.56% increase in the number of startups that raised investments. The United States continues its lead both in terms of the number of deals and investment amounts.
In comparison to the previous week, in the 2018 week 49 startup funding update, the number of deals in the US rose by 8.65%, while the investment amount increased by 1.21%. China saw an increase in the number of deals by 31.43%, while the investment amount reduced by 56.9%. Comparatively, the United Kingdom saw a 25% rise in the number of deals, while the investment amount doubled, compared to week 49.