Biotech and healthcare was the leading sector by funding amount, raising $5.7 billion. AI companies raised $3.9 billion, while hardware startups, manufacturing, and financial services companies raised $3.3 billion, $2.9 billion, and $2.9 billion respectively. The Rubrik IPO in April marked the third venture-backed private company to list at a value above $5 billion in 2024. The report suggests that the AI revolution stands to benefit incumbents who raised large amounts of capital in the prior venture cycle.
Key takeaways:
- Global venture capital funding reached over $22 billion in April 2024, with $2.4 billion going to seed-stage companies, $9 billion to early-stage companies, and $10.7 billion to companies from Series C onward.
- The largest startup funding round in April was a $1 billion deal to stealth startup Xaira Therapeutics for drug development using AI.
- Biotech and healthcare was the leading sector by funding amount in April, raising $5.7 billion, followed by AI companies which raised $3.9 billion.
- The Rubrik IPO in April marked the third venture-backed private company to list at a value above $5 billion this year, suggesting a slow opening of the public markets.