Company funding data is a great aid for investors looking for businesses with the biggest potential. Of course, you need experienced data analysts to get the most out of it. That's why we asked our data team to extract something actionable from our current dataset, and they came up with this list of the most recently funded companies in 2024.
This data is specifically aimed at the Series A round, which usually follows pre-seed and seed funding. At this stage, the startup should already have a solid strategy for monetizing its idea. Most of the time, the investments come from traditional venture capital firms, such as IDG Capital.
And now, it's time for the results based on February 2024 company funding data.
The first thing that comes to mind after viewing this table is that there are a lot of Healthcare industry companies. To be precise, they take up 6 out of 10 spots, and three are in the Top 5. Expecting to see way more tech businesses, we were a bit surprised but will probably thank for this ratio in our retirement years.
Among these initiatives, we find therapies for reprogramming the immune system, offering accessible mental health treatment, or preclinical innovations to cancer treatments.
Apart from that, we have two Web3 projects. HashKey Group aims to create a whole ecosystem, including virtual asset exchange, blockchain node validation, and leveraging new businesses with NFT, among others. Seeing them at the #3 spot and no signals about NFT and blockchain resurrections on Google Trends, we conclude that our investment knowledge is rudimentary at best.
Meanwhile, FreechatDAO (#9) is not about creating a new ecosystem – they use that of Ethereum for a free and uncentralized social network. As a result, all Ethereum app services like Chromia or Uniswap will be available to its users. Once again, the Google Trends tendencies look bleak, but that's probably not the tool investors rely on.
And what about our #1, P3 Mobility? As their highly unwieldy website informs, they're creating an autonomous system based on V2X technology to improve safety, mobility, and sustainability. Today, telematics mostly capture vehicle speed, but P3 Mobility aims to add trajectory, lane positioning, traffic signal status, and data on surrounding cars and pedestrians.
But there's more to that. This investor's darling wants to change road charging reality with one focusing on privacy and seamless operation. Furthermore, P3 Mobility believes that this autonomous network will make data transfer easier compared to cellular networks.
More facts
5 out of 10 companies got $100M+, with P3 Mobility amassing the largest $107.5M sum. In February 2024, a total of 209 businesses received Series A funding. For one in five, this was the first funding round.
According to Investopedia, the average Series A funding in 2023 was $22M. However, these numbers tend to vary. For a company to be considered for a Series A round, it should be valued at least $50M, which means that this round adds about 50% more capital.
Sounds cool, but reaching this stage is a big success in itself. Less than 10% of the seed-funded companies receive extra funding.
The highly touted IPO usually becomes a reality after three funding rounds or so.
Conclusion
It seems that health-related initiatives get the most investor attention. This doesn't seem that surprising because not only do you profit, but you also get a new or more effective treatment for a disease that may affect you or your relatives.
Interestingly, blockchain-based businesses are not dead. Their success might result in a second block-boom, but even the top investors can't say how long it will last.
And that was just a fraction of the actionable information you can get from company funding databases. Hopefully, this article gave you some ideas for leveraging your investment ideas with data-driven insights.
