November 2022 Venture Growth Funding Recap

november funding report 2022

Growthink Capital Research tracked $4.6 billion in new venture funding in November 2022, compared to $4.2 billion in October. 

The month’s biggest funding event belonged to Emalex Biosciences ($250 million) biopharmaceutical drugs that diagnose and cure central nervous system disorders and rare and orphan neurological conditions.

Thirteen companies raised $100 million or more in November. Other than Emalex Biosciences, the 10 companies which raised the most are as follows:

  1. FogPharma ($178 million) cell-penetrating mini proteins (CPMPs) that target cancer-causing proteins inside cancer cells and neutralize them enabling physicians to treat cancer-related diseases.
  2. Astera Labs ($150 million) a fabless semiconductor company that addresses performance bottlenecks in data-centric systems removing bottlenecks from compute-intensive workloads.
  3. Weka ($135 million) a software-defined storage technology that offers high-performance and scalable file storage for data-intensive applications allowing enterprises to build differentiated storage systems and convert data for revenue.
  4. Swell Energy ($120 million) energy management and smart grid technology that assists consumers and utilities to adopt modern alternatives to traditional energy technology giving users to have clean, secure and affordable power.
  5. CG Oncology ($120 million) a clinical-stage biopharmaceutical agency that develops the next evolution of oncolytic immunotherapy for patients with advanced cancer allowing oncologists to avail new impactful therapies to treat cancer patients.
  6. HI-Bio ($120 million) precision medicines that treat people suffering from autoimmune and inflammatory diseases providing patients with autoimmune diseases with better treatments.
  7. Locus Robotics ($117 million) autonomous mobile robots that simplify and automate warehouse and e-commerce operations allowing clients to achieve efficient fulfillment operations.
  8. MBX Biosciences ($115 million) biotechnology drugs that develop therapies for endocrine diseases allowing the healthcare industry to improve and treat rare endocrine issues in an efficient manner.
  9. ColdQuanta ($110 million) quantum sensing technologies that provide the commercial availability of quantum technologies allowing users to explore their own quantum matter innovations for sensing and other applications.
  10. Jnana Therapeutics ($107 million) a drug discovery platform that targets the solute carrier family of transporters and cell metabolic gates allowing companies to comprehensively address therapeutic targets across the vast member membrane protein family.

The hottest sectors for funding during the month were Biotech, Business/Productivity Software, Big Data, Fintech, and Robotics.

Key funding events in each of these sectors for the month are below:

  1. Biotech deals included Emalex Biosciences ($250 million), FogPharma ($178 million), CG Oncology ($120 million), HI-Bio ($120 million), MBX Biosciences ($115 million), Jnana Therapeutics ($107 million), iECURE ($65 million), Rgenta Therapeutics ($52 million), Casma Therapeutics ($46 million), Strand Therapeutics ($45 million), Juvena Therapeutics ($41 million), HC Bioscience ($40 million), Concerto Biosciences ($23 million), Hemanext ($18 million), and Micron Biomedical ($14 million).
  2. Business/Productivity Software deals included Contentstack ($80 million), Island ($60 million), Laika ($50 million), Deepgram ($47 million), Zylo ($31.5 million), ORO ($25 million), Meez ($11.5 million), Goodera ($10 million), SparkPlug ($8 million), Frame AI ($7.6 million), and Zenlytic ($5.4 million).
  3. Big Data deals included Weka ($135 million), MotherDuck ($47.5 million), Coefficient ($18 million), QualSights ($7.7 million), Directus ($7 million), and Rep Data ($6.2 million).
  4. Fintech deals included Arta Finance ($90 million), Greenwood ($45 million), Brightside ($33 million), Daylight ($15 million), Agent IQ ($10 million), and Retirable ($6 million).
  5. Robotics deals included Locus Robotics ($117 million), Amp Robotics ($91 million), Bionaut Labs ($43 million), Pickle Robots ($26 million), Rewst ($21.5 million), and Galen Robotics ($15 million).

Take our Fundability Test. If you had additional capital, could you use it to grow your company? Or to fund a liquidity event for you and your shareholders?

We’ve built a unique network of investors who are looking to invest in companies that they find to be fundable.

To see if your company qualifies, take our “Fundability Test.”

If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.

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