In the group of 11 latest firms that joined the Crunchbase Unicorn Board in March 2024, an unexpected sector took the lead: last month, three firms within the cryptocurrency and Web3 space became newly minted unicorns.
The board, which counts private firms valued at $1 billion or more, currently has over 100 unicorns present on this sector.
Last month, the primary company from Uzbekistan also joined the management board Grapese-commerce and payment platform.
Four of the brand new March unicorns come from the US, including IntraBio, which moved to the United States with its latest financing. Other latest unicorns in March come from Czechoslovakia, the Cayman Islands, Singapore, China, India and Australia.
Many of the businesses that became latest unicorns in March raised financing well below $100 million, indicating smaller ownership stakes in these firms valued at billions of dollars than in such deals in previous times.
Let’s take a have a look at March’s latest unicorns by sector.
Web3
- BerachainEthereum-compatible blockchain for financial applications, raised $69 million in digital token sales led by BH Digital AND Framework projects. The deal valued the Cayman Islands-based bear-themed blockchain company at $1.5 billion.
- Io.netNew York-based blockchain service selling surplus GPUs raised $30 million in Series A funding led by Hack VC. The company’s symbolic annual value on the date of this financing was $1 billion.
- Web3 infrastructure based in Singapore A network of polyhedra raised $20 million in a Series B round led by a crypto investor Polychain. The annual company was valued at $1 billion.
Financial services
- Based in Bangalore Perfios software solutionsThe 15-year-old company that gives lending, onboarding and monitoring services to financial institutions has raised an $80 million Series D extension led by the Toronto-based company The development of teachers’ enterprise which valued the corporate at $1 billion.
- based in Uzbekistan Grapes, an internet shopping and payments platform, raised $52 million in Series A funding, valuing the corporate at $1 billion. A Palo Alto, California-based company was liable for financing the year-old company FinSight ventures.
Energy
- New Sungrow EnergyChinese wind and solar subsidiary Sunraised $117 million in external funding. The company was valued at $2.8 billion.
Food and drinks
- Beverage company Liquid death raised $67 million in funding, valuing the corporate at $1.4 billion. This 6-year-old Los Angeles-based company sells flavored sparkling waters and iced teas.
artificial intelligence
- An open-source generative artificial intelligence company Total AI provides the infrastructure for training models. The one-year-old Menlo Park, California-based company raised $106 million in led funding Salesforce Ventures 1 valued at $1.3 billion. Less than 4 months ago, in November, it announced Series A financing.
Property
- Based in Prague Meowcloud-based hotel property management system raised $110 million in Series D funding led by a Stockholm-based company Kinnevik. The 11-year-old company was valued at $1.2 billion.
Human resources
- Based in Sydney Deputyhourly worker management software platform, raised $37 million led by a strategic investor Express employment of specialists. The 15-year-old company was valued at $1.1 billion.
Healthcare and biotechnology
- IntraBio, a biopharmaceutical company developing treatments for neurodegenerative diseases, has raised one other $40 million in a $1 billion funding round. The company, previously headquartered in Oxford, has opened a brand new headquarters in Austin, Texas.
Methodology
The Crunchbase Unicorn Board is a curated list of personal unicorn firms with a post-money valuation of a minimum of $1 billion, based on Crunchbase data. There are latest firms added to the Unicorn Board after it reached $1 billion in funding round.
The unicorn board doesn’t reflect internal company valuations – reminiscent of those determined through the 409a process for worker stock options – because they’re different from the valued financing round and can almost definitely be lower. We also don’t adjust valuations based on investor write-downs, which change quarterly, because different investors won’t value the identical company consistently in the identical quarter.
Unicorn company financing includes all private financing of firms designated as unicorns, in addition to those who have since transformed into Coming out unicorn board.
The exits analyzed here include only the firm’s first exit.
Please note that every one financing amounts are in US dollars unless otherwise noted. Crunchbase converts foreign currency to U.S. dollars on the spot rate in effect on the date financing rounds, acquisitions, IPOs and other financial events are reported. Even if these events were added to Crunchbase long after the event was announced, currency transactions are converted on the historical spot price.