Why 2024 could see an AI slowdown

Plus, Europe has survived the funding downturn better than most January 9, 2024 Hi, {NAME}. Artificial intelligence was the sector that bucked all trends last year, most notably with how much cash otherwise-reticent startup investors threw at the industry. Will that change in 2024? Many VCs we spoke with expect to see a funding slowdown for AI this year. [Here’s more on that and our other predictions for the AI sector](. Plus, [European funding in 2023 was down, but has fared better than the U.S. and other regions](. 🤖 [Why 2024 could see an AI slowdown]( While investors have little doubt many AI startups will continue to push their valuations northward — especially those building their own models and platforms — the new year could provide a reckoning and recalibration for a market that seemed to know no bounds. 💶 [Europe has survived the funding downturn better than most]( Funding to European startups reached $52 billion in 2023, down 39% year over year, [Crunchbase]( data shows, but the continent’s share of the global venture capital ecosystem has increased since 2021. 💰 [Forecast: Why VCs are bullish about 2024]( Many venture investors are starting the new year feeling quite good about the startup industry’s prospects in 2024. Funding has likely already hit its low, the exit markets seem poised for a comeback, and the industry appears to be coming to terms with the new normal of work, they argue. 📉 [North American startup funding ends 2023 on a down note]( Hope clearly springs eternal for startup investors. Despite all their positive feelings about 2024, [Crunchbase]( data shows we enter the new year coming off a low for startup funding in North America, the largest market for venture investment. Not only were dollars down in Q4, but deals were too. [Dive in with our year-end report](. Get more with Crunchbase Enterprise Find out more about Crunchbase’s prospecting software that enables your entire team to find the right companies, identify the right people, and connect with the decision-makers who can move deals forward – all in one solution. [BOOK A MEETING NOW]( Recent Investments [LongPath Technologies]( [$189M]( / [Debt Financing]( LongPath Technologies provides continuous emissions monitoring solutions across the oil and gas supply chain. Categories: Industrial • Infrastructure • Laser • Oil and Gas Founders: [Caroline Alden]( [Gregory Rieker]( [Robbie Wright]( [Sean Coburn]( Investors: [US Department of Energy]( (Lead) [Vico Therapeutics]( [54M EUR]( / [Series B]( Vico Therapeutics is a developer of ribonucleic acid (RNA) modulating therapies. Categories: Health Care • Medical • Pharmaceutical Founders: [Gail Mandel]( [Josh Mandel-Brehm]( [Judith van Deutekom]( [Luc Dochez]( Investors: [Ackermans & van Haaren]( (Lead), [Droia Ventures]( [EQT life science]( [+ 4 more]( [Vortexa]( [$34M]( / [Series C]( Vortexa provides a real-time data and analytics platform for energy and freight industries. Categories: Analytics • Energy • Industrial • Trading Platform Founders: [Etienne Amic]( [Fabio Kuhn]( Investors: [Morgan Stanley Expansion Capital]( (Lead), [Communitas Capital Partners]( [FJ Labs]( [+ 3 more]( More Fundings Company Amount / Round Lead Investor [Athena Club]( $33M / [Venture Round]( - [CureBay]( 618M INR / [Series A]( [Elevar Equity]( [Riskcovry]( 373M INR / [Venture Round]( [IIFL Finance]( [All Recent Funding Activity]( Recent Acquisitions [KnowledgeHound]( Pending acquisition by [YouGov]( for Unknown More Acquisitions Company Acquired By Amount [Trustwave]( [Chertoff Group]( Unknown [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2024 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.