TLDR:
- In August, there were fewer corporate exits, but the ones that occurred were larger in size.
- Total capital raised by corporate-backed startups hit $3.97bn, a 34% increase compared to August 2023.
In August, 25 startups backed by corporate investors made exits through either a sale or IPO, marking a 19% drop from the previous year. Despite the decline in the number of exits, the total capital raised by these startups reached $3.97bn, showing a significant increase of 34% from the previous year. The top five exits from August were all above $500m, with three US-based companies leading the pack. Additionally, three of the top five exits were in the pharmaceutical and life sciences sector, indicating a strong performance in this space.
Some notable exits in August include:
- US-based Teads, an omnichannel video advertising platform, was acquired by Outbrain for $1bn.
- US-based Jnana Therapeutics, a drug developer, was acquired by Otsuka Pharmaceutical for $800m.
- India-based Ola Electric, focused on electric vehicles, raised $734m in its IPO.
- Israel-based V-Wave, which develops therapeutic devices for heart disease patients, was acquired by Johnson & Johnson for $600m.
- US-based Truepill, a B2B pharmacy fulfillment service provider, was acquired by LetsGetChecked for $525m.
These exits showcase the diversity of sectors and regions represented in the corporate-backed startup ecosystem, highlighting the continued interest and investment in innovative and high-growth companies.
