Services

Sanofi, Access Industries and Alphabet helped Areteia Therapeutics raise $350m, and Nordisk Games acquires Supermassive Games.

Klarna's 83% drop in valuation to $6.7bn is the most visible harbinger of a buy now, pay later sector suffering from defaults and competition - some from the same corporates investing there.

The number of crypto and token funding rounds is still climbing but the overall volume of capital in these deals has fallen sharply.

Corporates are still investing in startups but valuations have fallen dramatically. Some areas such as China and healthcare have been hit hard.

Volkswagen and Ingka Group helped Northvolt secure over $1bn while Dai-ichi Life has led a $120m series C for YuLife.

Being an early customer for startups — rather than investing in them — can increase the amount of technology a corporate can bring in 10x.

KT and Kakao Ventures were part of AI chip developer Rebellions’ $72.8m series A round while Nvent helped provide $35.8m for cooling system provider Iceotope.

Legend Capital led a $150m series E round for ClinChoice while Wemix took part in a $31.8m round for Planetarium Labs.

Mitsui Chemicals’ newly formed $36.8m 321Force unit will focus on healthcare, mobility, ICT and sustainable materials.

The debt finance deal gives FTX the chance to buy crypto management tool developer BlockFi for up to $240m - less than 10% of its last valuation - and the news should be making equity investors nervous.

The Bloomberg-sponsored venture firm, which focuses on the future of work, has put $75m each into a fourth fund and an opportunity fund, and now has $375m under management.