While corporate-backed deals are down at the subdued levels we've been observing since July, mobility, logistics and gaming saw an uptick.

Overall, corporate-backed startup funding rounds in November were at the same level as we’ve seen since the third quarter of the year, down from last year’s comparative numbers but not declining further. And there were month-on-month rises in three sectors: mobility, logistics and gaming. There were just 386 corporate-backed deals around the globe in November, down 25% from the 514 rounds registered in the same month last year. Investment value stood at $9.57bn in total estimated capital – less than a third of the $30.96bn spent in November 2021. These figures and finding are roughly in line with the decline observed in the total VC numbers recorded by PitchBook. Total VC deals have decreased more sharply, but deal value has stayed more stable than in corporate-backed deals. In November there were 2,999 deals, down 40% from November 2021. The total global estimated value of deals in November stood at $29.2bn – less than half of the $76.23bn recorded during the same month last year. Mobility deals speeding up Mobility — encompassing electric and autonomous vehicle tech —  was one area where corporate-backed deal numbers were up compared to previous months of the year. November saw 18 deals, up from 15 in November last year, although the total deal value was just $1.169bn, half the level of last year. The biggest deal of the month was China-based Voyah, an electric vehicle brand spun off by Dongfeng Motor, which reportedly raised a massive $639m series A round, featuring Dongfeng Motor and lithium products maker Ganfeng Lithium. Meanwhile, German electric vertical take-off and landing (eVTOL) vehicle developer Volocopter secured $182m in a series F round featuring automaker Geely Automobile and energy company NEOM Energy. Founded in 2011, the company develops a large-scale drone for use in passenger transport which will be able to take off and land vertically. Dutch electric vehicle charging company ABB E-Mobility, a subsidiary of industrial automation company ABB, raised $208m. In the funding round, which featured the Interogo Foundation and VCfirm Moyreal, its parent company ABB sold some 8% of its stake. China-based developer of advanced driver assistance system Freetech reportedly raised $100m series B round, featuring Shanxi Automobile, Sun Life Everbright Life Insurance, chemical maker Jintong Chemical, automakers SAIC and Beijing Automotive Group, among other investors. US autonomous driving tech developer iSee raised $40m in series B funding, led by Founders Fund and also featuring Maersk Growth, the venturing arm of shipping company Maersk. The company develops an artificial…

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Kaloyan Andonov

Kaloyan Andonov is head of analytics at Global Corporate Venturing.