1. Deals Analysis
June 29, 2021

Technology industry artificial intelligence venture financing deals total $3.6bn globally in May 2021

By Carmen

The $220m venture financing of Shift Technology was the technology industry’s top artificial intelligence venture financing deal as total deals worth $3.6bn were announced globally in May 2021, according to GlobalData’s deals database.

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The value marked a decrease of 43.2% over the previous month of $6.25bn and a rise of 2.3% when compared with the last 12-month average, which stood at $3.47bn.

Comparing artificial intelligence venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $1.77bn. At the country level, the US topped the list in terms of deal value at $1.56bn.

In terms of volumes, Asia-Pacific emerged as the top region for technology industry artificial intelligence venture financing deals globally, followed by North America and then Europe.

The top country in terms of artificial intelligence venture financing deals activity in May 2021 was the US with 62 deals, followed by the China with 35 and India with 18.

In 2021, as of May, technology artificial intelligence venture financing deals worth $24.64bn were announced globally, marking an increase of 127.5% year on year.

technology industry artificial intelligence venture financing deals in May 2021: Top deals

The top five technology industry artificial intelligence venture financing deals accounted for 23.2% of the overall value during May 2021.

The combined value of the top five technology artificial intelligence venture financing deals stood at $825m, against the overall value of $3.6bn recorded for the month.

The top five technology industry artificial intelligence venture financing deals of May 2021 tracked by GlobalData were:

1) Accel, Advent International, Avenir Entreprises Gestion, Bessemer Venture Partners, General Catalyst Partners and Iris Capital’s $220m venture financing of Shift Technology

2) The $175m venture financing of Riiid by SoftBank Vision Fund II

3) TCV’ $150m venture financing of Cognite

4) The $150m venture financing of Snapdocs by Alkeon Capital, F-Prime, Maverick Morales, Sequoia Capital Operations, Tiger Global Management, Wellington ManagementLLP and Y Combinator Management

5) Accel, Bessemer Venture Partners, Burst Capital, FirstMark Capital, Spark Capital, Tiger Global Management and Version One Ventures’ venture financing of Ada Support for $130m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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