Silicon Valley Funding News - Week of January 24, 2022. Pixis Raised $100M Series C led by SoftBank Vision Fund

Happy Monday from beautiful and sunny San Francisco!  

Here's some great reads for this week:

• Crypto - Last month, I spoke with Emily Chang on Bloomberg about the January crypto crash. Some are calling last Friday the ‘Black Friday’ of crypto with $136B wiped out.
• SPAC ~80% of companies that went public through a SPAC merger are now trading below the $10 per share (SPAC issue price). The average redemption rate, i.e investors cashing out immediately before the merger even closes, has risen to 62% in Q4 2021 from just 12% in Q1 2021. No more flying cars is probably a good thing.
• Web3 - In 2021, over 18,000+ monthly active developers committed 160 million lines of code in open source crypto and Web3 projects. Solana, Polkadot, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history. Great Web3 developer report
• Enterprise - You can search on LinkedIn for how many sales reps a competitor has and multiply that number by $500,000 to figure out how much in bookings they plan to add this year. Clever trick to figure out your competitor’s growth plan. 
• Gaming - Two of the top three largest acquisitions ever were announced this month including Take-Two Interactive acquired Zynga for $12.7 billion and Microsoft acquired Activision Blizzard for $68.7 billion. The video game industry has been riding a wave of consolidation and investment: M&A nearly tripled to $26.2 billion in 2021 and VC deals nearly doubled to a record $11.2 billion.  Gaming companies — which tend to trade at lower multiples — can be quite affordable for the tech giants. Can you see Amazon buying Unity?

• $348.3M goes to 14 Enterprise startups
• $7M goes to 1 FinTech startup
• $2.2M goes to 1 Blockchain startup
• $51M goes to 2 InsurTech startups
• $5M goes to 1 AgTech startup
• $2M goes to 1 Construction startup
• $21M goes to 1 Logistics startup
• $24M goes to 1 Automotive startup
• $102.5M goes to 3 BioTech startups
• $75M goes to 1 Healthcare startup
• $60M goes to 1 Hardware startup