The Recession Fears Looming Over VC’s Booming July

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Global venture funding reached $23 billion last month, up 20% compared to July 2023, according to Crunchbase data. Judging from the numerous funding announcements that arrived in my inbox this morning, those increases look poised to continue. However, investors are wary a recession could hamper the turnaround.

First the positives: Anduril just announced a new round of $1.5 billion at a $14 billion valuation including the investment, confirming Natasha’s scoop earlier this year. But it's not just crown jewels like the Palmer Luckey–led defense tech darling that are raking in capital.

Travel tech company FLYR announced a $225 million Series D led by WestCap on Thursday, and Cents, a software startup backed by Bessemer Venture Partners and Tiger Global Management that caters to laundry businesses, raised a $40 million Series B led by real estate–focused venture firm Camber Creek. Even a startup making plant-based cheese managed to raise funding this week!