This year might be considered as the most challenging and desperate for the startups initially but as the year reaches its end, it turned out to be the biggest year for business ventures with record fundings. Citing the Money Tree report from PricewaterhouseCoopers/CB Insights which says that despite the economic devastation brought by the coronavirus pandemic, start-up investing in the U.S. sets up a new high record of $130 billion in 2020.
Startups raised more money in 2020, even though the total number of deals ticked downward https://t.co/tXseyLHeZe
— Bloomberg (@business) January 13, 2021
Considering the total number of lower funding rounds in 2019, companies like Instacart Inc. and Stripe Inc. helped driving the surge by raising hundreds of millions. According to reports, Venture capital fundings in 2020 rose 14% from 2019 which includes private equity and debt investments as well. The largest deal were $1.9 billion infusion into Space Exploration Technologies Corp. and $1.5 billion in funding for Epic Games Inc. both the funds have gained private equity and mutual funds.
Another record for 2020 as per Bloomberg reports, “The number of Unicorns ticked up to 225 in the U.S., as more companies achieved a valuation of $1 billion or more for the first time.”