Founders - here's your market for seed stage fundraising.
Data: 1,263 seed rounds raised last year by US startups on Carta
Includes priced rounds (primary only, no bridges)
Includes SAFE rounds that raised between $2M-$6M total
𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀
1) AI software gets higher vals and higher round sizes (...surprise!)
2) Semiconductors are the hottest startup type at seed
3) Lots of clustering around the median. Most seed deals for software companies are kinda fungible
4) Deep tech (Hardware, Bio, Transport, etc) tends to have slightly higher round sizes and slightly lower valuations but it's not consistent
5) The bubbles float along an invisible line which is...20% dilution. That's still the expectation for many startups at seed.
Data for the people 🙏
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