February 5, 2025

Now is your chance

Hi there, 

For the ninth year running, we’re picking the 100 most promising AI startups in the world.

Think you or someone you know should be on the list? Apply here. 

Applications are due March 13. 

And in the meantime, check out the 2024 AI 100.

Now, on to today’s research lineup.

Super size CVC

In 2024, the annual average CVC-backed deal size jumped 34% YoY to $27.3M, tying for the second-highest deal size on record.

While deal sizes grew, CVCs did fewer deals overall as there was a flight to quality and a desire by CVCs to invest in more proven startups (vs. speculative ones).

Median deal size also edged up 8% YoY to $8.6M, reinforcing the trend of bigger bets on select companies.

Get the full breakdown of how CVCs have adjusted their approach in our State of CVC 2024 Report.

Use protection

Cyberattacks on critical infrastructure sectors, like healthcare and utilities, can inflict damages costing billions of dollars.

Since 2017, every $1B+ critical infrastructure cyberattack has affected healthcare in some way.

Operational technology (OT) security platforms are evolving to help companies better prepare for these attacks.

Want to dive deeper? Check out this research brief on OT security for critical infrastructure.

Rock ‘em sock ‘em robots

AI has taken its position on the battlefield. 

Unmanned systems already dominate in some spheres.

For example, the unmanned aerial vehicle (UAV) space is crowded, seeing activity from most major defense companies and several startups.

CB Insights customers: unlock the full AI in defense tech market map.

However, AI is also extending into new spheres — powering movement on ground, ocean surface, and underwater.

Learn more about how AI is being deployed for defense in this market map.

Industry Standard

The Wall Street Journal. Berber Jin (@berber_jin1) and Deepa Seetharaman (@dseetharaman) examine OpenAI’s potential $300B valuation, using CB Insights data.

Los Angeles Times. Wendy Lee (@thewendylee) reports on DeepSeek’s rise and its potential implications for US tech companies, citing CB Insights research.

The San Mateo Daily Journal. Alyse DiNapoli (@ap_dinapoli) reports on a surge in Bay Area venture funding, drawing on insights from CB Insights senior lead analyst Benjamin Lawrence. 

I love you.

Anand

@asanwal 

Co-Founder & Exec Chair

P.S. Don’t forget, AI 100 applications are due March 13. Get ’em in ASAP.

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