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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.

Astra Group took part in a $41m round for digital bank Yap while GV led artificial intelligence developer platform Modular AI's $30m seed round.

We've condensed down three days of talks, networking and demos at the GCVI Summit in Monterey into these insights.

Three carmakers helped semiconductor producer CanSemi raise $670m while 574 Invest, RATP Group and Groupe Chopard backed a $167m round for vehicle charging network Electra.