Click on image for full-size view (CB Insights)
11 Nov. 2023. Venture funding for digital health start-ups continued heading down in the third quarter of 2023, reaching low levels not seen in almost a decade. The technology intelligence company CB Insights describes the data for this sector in a report issued in late October (registration required).
CB Insights says companies worldwide developing digital health solutions raised $3 billion in 247 deals from July through Sept. 2023, declines of 14 percent in investment dollars and 33 percent in deal numbers from the previous three months. Moreover, says CB Insights, the $3 billion in investments is the lowest quarterly total since 2016 and the 247 transactions is the fewest number of deals in a quarter since 2014.
Start-ups providing digital care delivery and navigation raised $1.3 billion, nearly half of the total dollars invested by this sector, in 105 deals in Q3 2023. Developers of monitoring, imaging, and diagnostics technologies raised $700 million, while drug R&D start-ups attracted $500 million in the third quarter. The continued downward trend for digital health start-ups runs counter to venture funding overall and in life science start-ups that show gains in Q3 from the previous quarter; see the links below.
More from Science & Enterprise:
- Infographic – Q3 Life Science Venture Funds Tick Up
- Infographic – Global Q3 Venture Funding Levels Off
- Infographic – Digital Health Venture Funds Remain Stuck
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