November breaks another record as financial services lead in creation of new unicorn E! News UK
As we head into the final months of 2021, global funding shows no signs of slowing down. In fact, November set a new record for global venture capital funding, with $ 65 billion raised.
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Global funding in 2021 topped $ 580 billion at the end of November, up from $ 335 billion in funding for 2020. Last month was also the third month of this year to peak at over $ 60 billion.
Sectors that raised significant funding in the last month include freight, aerospace, cloud security, gaming, automotive, cryptocurrency, e-commerce, energy, transportation, workplace productivity and biomedicine, among others.
In November, 48 new unicorn startups were created.
Six companies in the financial services industry became unicorns in November, making the industry the leader in building new billion dollar startups: Philippines-based remittances and loan products. Mynt, UK based buy now, pay later Nothing, San Francisco-based small business lending startup Fund of funds, New York-based payroll services company Presentation book, based in London Thought machine for cloud banking and consumer credit card challenger based in India Slice.
Four companies in the cryptocurrency space were recently rated as unicorns, including the Connecticut-based digital currency and the token investor Group of digital currency via secondary funding, as well as a New York-based crypto-digital asset exchange Gemini, Miami-based payment infrastructure for crypto Moonpay, and blockchain developer based in Switzerland ConsenSys.
Transport runs through public markets
Electric vehicle company Rivien was the most valued IPO in November. The company raised $ 11.9 billion, more than any other IPO in 2021, which valued it at $ 66.5 billion when it went public. All this for a company with hardly any income.
Self-driving technology companies Dawn and Pick up trucks, both based in Silicon Valley, went public via the PSPCs last month. Aurora was valued at $ 14 billion and Embark Trucks at $ 5.2 billion.
Electric scooter company Bird also went public through a SPAC, valuing the company at $ 2.3 billion. It took place at the heels of his rival Lime raise a $ 418 million convertible note in November, signaling a intention to go public in 2022.
The transformation of technology in 2021
Last month, Facebook changed its name to Meta—Modify its global ambition beyond its applications activities towards the metaverse. And on December 3, the payment company Square announced that it is renaming Block to recognize its focus on cryptocurrency and a broader mission beyond its merchant network.
These brand changes are taking place as venture capital itself is shifting from capital in private companies to owning assets in public companies and investing in tokens and more liquid assets.
The tripling of the number of unicorns in 2021 and the breakneck pace of fundraising rounds of over $ 100 million across multiple sectors reimagined by digitization signals the seismic transformation many industries have undergone this year.
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Funding and exits
Funding rounds included in this report are seed, angel, venture capital, venture capital, and private equity rounds in venture capital backed companies. This reflects data from Crunchbase as of December 7, 2021.
Please note that all finance values are shown in US dollars unless otherwise noted. Crunchbase converts foreign currency to US dollars at the spot rate in effect from the date on which funding rounds, acquisitions, IPOs and other financial events are reported. Even though these events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historical spot price.
Illustration: Dom Guzman
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