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Laxman Pai, Opalesque Asia: The venture capital (VC) funding activity in artificial intelligence (AI) technology space registered steady growth despite fewer big-ticket deals in 2019, said a study.
According to GlobalData, a total of 2,018 VC funding deals (with disclosed funding value) worth $31.8bn were announced in the AI tech space last year.
This was a growth from 1,627 VC funding deals (with disclosed funding value) worth $30.7bn in 2018, said the report.
While the deal volume grew by 24% in 2019 compared to 2018, the deal value grew by only 3.6%, indicating a decline in the average deal size.
The average deal size, which stood at $18.9m in 2018, declined to $15.8m in 2019. The decline could be attributed to the announcement of a relatively lesser number of big-ticket VC deals in 2019 compared to 2018, said the report by the data analytics company.
According to the report, the number of $100m+ deals decreased from 64 in 2018 to 60 in 2019. The share of such deals as a proportion of the total deal volume and value also decreased from 3.3% and 45.2% in 2018 to 2.2% and 37.4% in 2019, respectively.
Moreover, 2019 also did not witness the announcement of any billion-dollar deal, whereas 2018 witnessed one such deal. On the other hand, low-value deals (investment ...................... To view our full article Click here
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