Growthink Capital Research tracked $2.63 billion in new venture funding in December 2023, down from $3.18 billion tracked in November 2023.
The month’s biggest funding event belonged to Lightmatter ($155 million) a light-powered chip designed to speed up artificial intelligence-driven computations by orders of magnitude enabling clients to get quality evaluations as well as low power consumption for software algorithms underlying image recognition and natural language processing.
Seven companies raised $100 million or more in December. Other than Lightmatter, the other Six companies that raised the most are as follows:
- GreyOrange ($135 million) a robotics and AI-driven fulfilment platform designed to empower retailers, warehouse operators and third-party logistics providers to achieve automated, agile and efficient order fulfilment enabling customers to increase productivity, reduce costs and enhance customer satisfaction.
- Vestwell ($125 million) a digital retirement platform designed to create a retirement plan for employees enabling advisers to engage with their clients with compliance and automation.
- Seismic Therapeutics ($121 million) a biotechnology platform designed to accelerate immunology drug development enabling drug developers to open new, better, and faster ways to make medicines for patients.
- Sudo Biosciences ($116 million) a biopharmaceutical company committed to designing and developing novel medicines to transform patients’ lives enabling patients to receive the cure or the treatment of multiple sclerosis and neurodegenerative diseases with underlying neuroinflammation at a competitive cost.
- Lyndra Therapeutics ($101 million) a novel therapeutics intended to sustain extended drug release in an oral dosage form enabling the medical community to ensure improved medication adherence, and health outcomes and helping lower the cost of care.
True Anomaly ($100 million) a fully integrated technology platform intended to offer space security and protect the freedoms and interests of the country providing the commercial space market with space mission and software solutions.
—————————————————————————————————————-
Take our Fundability Test. If you had additional capital, could you use it to grow your company? Or to fund a liquidity event for you and your shareholders?
We’ve built a unique network of investors who are looking to invest in companies with the right, key characteristics.
To see if your company has them, take our “Fundability Test.”
—————————————————————————————————————-
The hottest sectors for funding during the month were A.I./Machine Learning, Biotech, Business/Productivity Software, Cybersecurity, and Financial Software.
Key funding events in each of these sectors for the month are below:
- A.I./Machine Learning deals included Lightmatter ($155 million), GreyOrange ($135 million), Essential AI ($56.5 million), Armada ($55 million), Air Space Intelligence ($34 million), Rhythms ($26 million), GameOn ($25 million), Syrup ($17.5 million), Rohirrim ($15 million), Rabbit ($10 million), Chalk ($10 million), DataCebo ($8.5 million), Delphina ($7.5 million), Neurophos ($7.2 million), Helix ($6 million), BetterYou ($6 million), Redactable ($5.5 million), Featureform ($5.5 million), Retrocausal ($5.3 million), and Datalogz ($5 million).
- Biotech deals included Seismic Therapeutics ($121 million), Sudo Biosciences ($116 million), Lyndra Therapeutics ($101 million), ArtBio ($90 million), Totus Medicines ($66 million), Parse Biosciences ($50 million), Atavistik Bio ($40 million), Zafrens ($23 million), Amide Technologies ($16.5 million), and Encellin ($9.9 million).
- Business/Productivity Software deals included MaintainX ($50 million), Zuper ($32 million), Tumeke ($10 million), AllSpice ($6 million), and Magma ($5 million).
- Cybersecurity deals included SimSpace ($45 million), Halcyon ($40 million), ArmorCode ($40 million), Phosphorus Cybersecurity ($27 million), and Opal Security ($22 million).
- Financial Software deals included Vestwell ($125 million), Center ($30 million), Mozaic.io ($20 million), and January ($12 million).
If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.
