How does your industry stack up in terms of seed funding?
Some context needed here - in general, the early parts of venture have muddled through better than late-stage companies over the past 18 months.
But it's no walk in the park. Fundraising in priced seed rounds is down about 50% from the peak in Q1 2022. Investors are being more discerning and expecting more accomplishment earlier than ever.
However deals are still being done! Here's what the investors told us with their dollars over the past 6 months.
𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗟𝗶𝗸𝗲𝘀
The biggest categories by total rounds remain SaaS and Healthtech, followed by Fintech, Data Analytics, and Biotech.
Steady positive showing from Renewable Energy with high median cash raised and decent valuations centered around $13M.
Biotech and Transportation are the most highly-valued sectors at this stage, both with median pre-money valuations over $18M.
Renewable Energy and Cybersecurity companies are taking in the most cash per round.
𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗗𝗶𝘀𝗹𝗶𝗸𝗲𝘀
Tough sledding for Edtech companies - only 17 rounds raised in the past 6 months at low cash and low valuations.
There has been a shift away from Personal Products and DTC companies broadly, perhaps due to the particular trouble some former DTC success stories are having in the public markets.
Medical Devices are bringing up the rear in the Health category, coming in well below Healthtech and Biotech in both cash and median valuation.
Fintech funding has seen the strongest whiplash from a strong 2021 to a rather dismal 2023.
Hang in there, seed-stage founders ❤️
Looking forward to your feedback on the new data animations as well, experimenting with some more movement in these graphics. Your thoughts are welcome!
#cartadata #seedround #fundraising #startups #founders #Seed
DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. © 2026 Carta. All rights reserved. Reproduction prohibited.
