Growthink Capital Research tracked $3.18 billion in new venture funding in November 2023, compared to the $4.11 billion tracked in October 2023.
The month’s biggest funding event belonged to MPower ($300 million) a mission-driven fintech firm and the leading provider of non-cosigned loans to promising students from around the world.
Seven companies raised $100 million or more in November. Other than MPower, the other 6 companies that raised the most are as follows:
- Divergent ($230 million) an end-to-end digital production system designed to revolutionize industrial-scale manufacturing processes helping vehicle companies eliminate tooling and drive radical innovation, capital reduction, and sustainability in vehicle manufacturing.
- Infinitum ($185 million) a printed circuit board stator technology designed to offer improved motor efficiency and reduce associated costs enabling clients to meet a wide range of application needs at a reasonable cost.
- Ursa Major ($138 million) a turnkey propulsion intended to be used by various vehicles belonging within the microsatellite category for launch and hypersonic applications enabling aerospace clients to receive higher performing, lowest cost, and most reliable engines with better boost propulsion.
- Enable ($120 million) an enterprise collaboration platform designed to help manage complex trading agreements with suppliers and customers enabling manufacturers and distributors to easily set up every rebate deal and calculate rebate earnings for each and every transaction line.
- ZeroAvia ($116 million) a zero-emission aviation powertrain designed to accelerate the world’s transition to sustainable aviation enabling aviation companies to reduce the cost and carbon dioxide emissions.
- May Mobility ($105 million) an autonomous technology intended to transform cities through safe, accessible self-driving transportation enabling transportation companies to create a safer, greener, more accessible world through autonomous mobility.
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The hottest sectors for funding during the month were A.I./Machine Learning, Business/Productivity Software, Biotech, Cybersecurity, and Fintech.
Key funding events in each of these sectors for the month are below:
- A.I./Machine Learning deals included Eleos Health ($40 million), Pika ($35 million), OfferFit ($25 million), Kythera ($20 million), Keychain ($18 million), Zelig ($15 million), Evolv AI ($13.3 million), Refine Intelligence ($13 million), Cyble ($6.2 million), Atlas ($6 million), OpsLab ($5 million), and Treads ($4.6 million).
- Business/Productivity Software deals included Enable ($120 million), LucidLink ($75 million), INGENIOUS.BUILD ($37 million), Ninety ($35 million), Stensul ($34.5 million), Kognitos ($20 million), Virdee ($12.4 million), Polimorphic ($5.6 million), and Vimcal ($4.5 million).
- Biotech deals included Gate Bioscience ($60 million), OrsoBio ($60 million), Arrivo BioVentures ($45.2 million), Aro Biotherapeutics ($41.5 million), Ascidian Therapeutics ($40 million), Stellaromics ($25 million), Biolexis Therapeutics ($10 million), and Cromatic ($5.3 million).
- Cybersecurity deals included FusionAuth ($65 million), Chainguard ($61 million), ALTR ($25 million), Xage Security ($20 million), and Tidal Cyber ($5 million).
- Fintech deals included MPower ($300 million), Arch ($20 million), Versifi ($10 million), and Every ($9.5 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.
