But, with an ever-growing proportion of the cash going to a select few, the gulf between the haves and the have-nots is widening.
M&A moves are down, venture rounds few and IPOs nonexistent.
The group’s $270m series A, big for 2023, is not that impressive compared with other years.
The promise of fast timelines and early revenues lure a new investor into digital medicine.
While venture investors keep the purse strings tight, they themselves continue to enjoy fundraising success.
Last year saw plenty of cash deployed, but with sums shrinking each quarter the stage is set for further retrenchment.