Global startup funding dived 55 percent from a year ago in the third quarter to the lowest level since 2013, quarterly funding report of Funderbeam showed on Monday.
Startups around the world raised just $17.4 billion in the July-to-September quarter, compared with $38.3 billion in the same period a year earlier.
“Q3 2016 was the worst quarter globally since Q4 2013, and the worst Q3 since 2013,” the report said.
Only three industries raised more money than a year ago – location based services, education and crowdfunding & crowdsourcing.
The total amount of deals dropped even more significantly than the total amount of funding. Globally, the drop was 62 percent – from 3,302 last year to 1,253 this year.