Smart_Logistics_File

Smart Logistics Hero Image

Smart Logistics

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

<div>
 
 Introduction to 
 smart logistics
 , industry drivers, monetization potential, future outlook and more...
 
</div>

<div>
 <ul>
 <li>
 
 Cybersecurity funding appears to be on the rebound in Q3, with total funding up 11.8% YoY
 
 </li>
 <li>
 
 M&amp;A activity accelerates with the USD 28 billion Cisco&ndash;Splunk mega-deal. Other M&amp;A deals focus on feature consolidation
 
 </li>
 <li>
 
 Product updates and partnerships also brought consolidation and product rationalization, while GenAI remained a constant feature
 
 </li>
 </ul>
 
 
</div>

Regulations&nbsp;The White House puts its national cyber plan into motion: The Office of the National Cyber Director (ONCD) published the National Cybersecurity Strategy Implementation Plan (NCSIP) during the quarter, outlining a roadmap of activities, responsible agencies, and timelines for the mobilization of the National Cybersecurity Strategy (NCS) revealed in March this year. At a state level, two more US states signed their respective privacy acts into law in Q3, bringing the total to 13, as of end-September 2023.FundingCybersecurity funding appears to be bouncing back : The total funding raised in Q3 2023 increased 11.8% YoY compared with Q3 2022 and over 56% compared with the previous quarter. <a href="https://sp-edge.com/list/industry/172">Identity &amp; Access Management </a>(IAM) was a major driver of this growth, up nearly 5x YoY in Q3. The number of rounds also increased both YoY (11.8%) and QoQ (5.4%), though we observed a fall in average deal size compared with past periods. Q3 did not witness numerous super-sized fundings, though it did see a number of healthy growth-stage investments, including a USD 238 million Cato Networks <a href="https://sp-edge.com/updates/22015">venture round </a>.Product updatesGenAI integrations continued to be a key focus : Alphabet’s Google Cloud led the way by integrating its <a href="https://sp-edge.com/updates/21521">Duet GenAI assistant </a>with a range of cloud security products to enable natural language interfaces. Other product updates focused on streamlining product portfolios by combining and integrating point products into consolidated platforms and extending their capabilities to address tool sprawl. Stellar Cyber’s <a href="https://sp-edge.com/updates/20433">expansion </a>of its Open Extended Detection and Response (XDR) platform to include OT devices and Microsoft’s extension of its Defender for Cloud platform to <a href="https://sp-edge.com/updates/21084">support </a>Google Cloud were examples of this.PartnershipsProduct collaborations accounted for the majority of Cybersecurity partnerships: <a href="https://sp-edge.com/companies/314571">Alphabet </a>continued to capitalize on its head start in Q3 by leading the integration of GenAI capabilities with several cybersecurity companies. Other partnerships focused on extending product capabilities, introducing joint solutions, and expanding geographic reach.M&amp;AThe Cisco–Splunk deal marks a reversal of fortune for Cybersecurity M&amp;As: The network solutions provider <a href="https://sp-edge.com/updates/22088">acquired </a><a href="https://sp-edge.com/companies/1410">Splunk </a>for USD 28 billion making it the company’s largest acquisition ever. This, along with <a href="https://sp-edge.com/companies/121803">Thales’ </a><a href="https://sp-edge.com/updates/20431">acquisition </a>of <a href="https://sp-edge.com/companies/2828">Imperva </a>for USD 3.6 billion could serve as a catalyst for more large deals in the sector. Other M&amp;A activity in the space during Q3 2023 focused on product consolidation, especially in the security access service edge (SASE) subsegment.OutlookFurther consolidation is expected, with M&amp;As being more attractive than ever: A notable trend in Cybersecurity activity is the move toward consolidating products and services and adopting a “one-stop-shop” approach to address the disproportionate growth in the number of tools needed to secure enterprise infrastructure. M&amp;As have historically been a preferred growth method for cybersecurity companies, with major deals being announced during the quarter. Meanwhile, various large industry names evaluating takeover offers, venture capitalists looking for exits, and an environment of falling valuations can be expected to lead to major deals in the coming quarters.

Cybersecurity (Q3 2023): Funding rebounds, as big-ticket M&As make comeback

<div>
 <ul>
 <li>
 
 Funding raised rose dominated by mega rounds across all hubs
 
 </li>
 <li>
 
 Hardware and software updates to further develop autonomous vehicles and enhance the safety of the driving experience
 
 </li>
 <li>
 
 Incumbents partner to enhance the EV charging ecosystem
 
 </li>
 <li>
 
 Auto Tech and Passenger eVTOL players obtained approval from regulatory authorities, marking significant strides toward full commercialization
 
 </li>
 </ul>
 
 
</div>

<div>
 <ul>
 <li>
 
 The mobility sector raised USD 4.7 billion in Q3, up 46.7% YoY, with all hubs witnessing an increase in funding. 
 
 </li>
 <li>
 
 In the Auto Tech sector, the emphasis was on the ongoing refinement of product hardware and software to usher in innovative features for autonomous vehicles and enhance the safety of the driving experience. In the EV Economy space, most of the product updates were related to passenger EV manufacturing. 
 
 </li>
 <li>
 
 Three-fifths of&nbsp;incumbent partnerships in the EV Economy industry were in the EV charging infrastructure segment, while Auto Tech-related incumbent partnerships mostly focus on developing driver assistance systems (ADAS) and autonomous vehicles. Disruptors in the passenger eVTOL Aircraft industry were also actively looking to establish the necessary infrastructure for operations via partnerships while they also secured orders to supply aircraft.
 
 </li>
 <li>
 
 Only two major M&amp;A deals were reported in Q3 2023, while the mobility sector continued to witness going public via SPAC deals during the quarter.
 
 </li>
 <li>
 
 Q3 saw several Auto Tech and Passenger eVTOL players obtaining approval from regulatory authorities in the US and other geographies, marking significant strides toward full commercialization. However, safety concerns continue to be a bottleneck.
 
 </li>
 </ul>
 
 
</div>

Mobility (Q3 2023): Partnerships strengthen EV ecosystem; self-driving regulatory approvals brighten outlook

<div>
 
 With GenAI taking the world by storm, retailers are now scrambling to use this transformative technology in the most useful way. 
 
 
 In this Insight, we provide a closer look at those use cases, how they are different from already known AI/ML applications in retail, and what the industry can expect in the near future. 
 
</div>

<div>
 <ul>
 <li>
 
 Individualization and personalization are becoming increasingly significant demands for consumers in 2023. Consequently, in order to keep up and stand out, retailers are being pushed to adopt emerging tech to improve customer experience and internal processes across various business functions. 
 
 </li>
 <li>
 
 With GenAI expected to contribute between USD 400 billion and 660 billion in additional value to the retail and consumer packaged goods (CPG) industry, retailers in particular are now scrambling to use this transformative technology in the most useful way.
 
 </li>
 <li>
 
 Furthermore, GenAI can act as a natural complement to many of the retail processes that use traditional AI, such as customer service, inventory management, data analysis, and predictive forecasting.
 
 </li>
 <li>
 
 From personalized shopping experiences via virtual assistants and virtual try-ons, to better employee training and optimized supply chains, GenAI is changing the way retailers do business and engage with customers.
 
 </li>
 </ul>
 
 
</div>

The future of shopping: Exploring GenAI's influence on retail

<div>
 <ul>
 <li>
 
 Regulators propose laws to improve crypto-related tax compliance and safeguard investors
 
 </li>
 <li>
 
 Funding recovers on the back of mega deals, which accounted for 86% of total funds raised
 
 </li>
 <li>
 
 Notable product updates from incumbents across FinTech verticals
 
 </li>
 </ul>
 
 
</div>

<div>
 
 This Edge Insight focuses on notable activities related to the sectors covered by SPEEDA Edge under the FinTech Services vertical from January 2023 to June 2023 (1H 2023): FinTech: Banking and Infrastructure, Wealth Tech and Sustainable Finance, InsurTech, FinTech: Blockchains, and FinTech: Payments.
 
 <hr/>
 <h1>
 Key takeaways
 </h1>
 <ul>
 <li>
 <h3>
 Funding:
 </h3>
 <ul>
 <li>
 
 Significant slowing in funding volumes; mega deals accounted for three-fourths of all funding: 
 FinTech Services saw total funding declining 43% YoY to USD 13.5 billion. However, the sector witnessed 20 mega deals (USD 100 million+), which collectively raised more than USD 10.0 billion (~75% of total). Leading payment services startup 
 <a href="https://sp-edge.com/companies/57000">
 Stripe
 </a>
 secured the largest amount of funding by raising USD 6.5 billion in 
 <a href="https://sp-edge.com/updates/17162">
 Series I
 </a>
 financing, achieving a valuation of USD 50 billion.
 
 </li>
 </ul>
 </li>
 </ul>
 <hr/>
 <ul>
 <li>
 <h3>
 Regulations: 
 </h3>
 <ul>
 <li>
 
 Stricter laws being finalized for cryptocurrency exchanges and digital tokens issuers: 
 The 
 <a href="https://www.reuters.com/technology/eu-states-approve-worlds-first-comprehensive-crypto-rules-2023-05-16/">
 Markets in Crypto Assets
 </a>
 regulation finalized in May 2023 (to take effect from 2024) was the first set of laws aimed at regulating crypto exchanges and digital token issuers. This regulation offers clear definitions for crypto assets and enforces laws pertaining to governance, reporting, and capital requirements of such exchangers and issuers. In the same month, the International Organization of Securities Commissions (IOSCO) also published a 
 <a href="https://www.reuters.com/business/watchdog-proposes-first-set-global-rules-crypto-sector-2023-05-23/">
 set of standards and policy recommendations
 </a>
 proposing a global approach to regulating the crypto industry.
 
 </li>
 </ul>
 </li>
 </ul>
 <hr/>
 <ul>
 <li>
 <h3>
 Product updates:
 &nbsp;
 </h3>
 <ul>
 <li>
 
 Complementary offerings abundant amid some notable launches from incumbents: 
 During 1H 2023, we counted 
 70+
 product launches, which focused on complementing existing offerings, diversifying business models, and creating additional revenue streams in response to challenging market conditions. For instance, certain neobanks launched investing platforms and premium subscription services, such as 
 <a href="https://sp-edge.com/companies/220119">
 Revolut
 </a>
 , which launched a new subscription plan called 
 <a href="https://sp-edge.com/updates/15855">
 Ultra
 </a>
 and a 
 <a href="https://sp-edge.com/updates/19814">
 robo-advisory
 </a>
 platform, while neo-insurers pivoted toward distribution services (Wefox&rsquo;s 
 <a href="https://sp-edge.com/updates/18304">
 Global Affinity Business
 </a>
 ). Moreover, the period saw incumbents such as 
 <a href="https://sp-edge.com/companies/1658">
 Apple
 </a>
 foraying into the 
 <a href="https://sp-edge.com/updates/17372">
 Buy Now, Pay Later
 </a>
 industry and 
 <a href="https://sp-edge.com/companies/46376">
 JP Morgan
 </a>
 piloting a 
 <a href="https://sp-edge.com/updates/17299">
 biometrics payment
 </a>
 solution with plans for a larger roll-out in 2024.
 
 </li>
 </ul>
 </li>
 </ul>
 <hr/>
 <ul>
 <li>
 <h3>
 Partnerships: 
 </h3>
 <ul>
 <li>
 
 Enhancing existing product portfolio and value additions driving partnership activity: 
 Similar to product updates, partnership activity focused on launching new products or features that enhance the existing product portfolio of customers. In addition, incumbent activity remained strong, with notable partnerships between Microsoft, Goldman Sachs, Deloitte, and Cboe Global Markets to 
 <a href="https://finance.yahoo.com/news/goldman-microsoft-cboe-others-collaborate-152808338.html">
 develop a new blockchain network
 </a>
 for financial product smart contracts, and Wells Fargo, JP Morgan, and Bank of America developing a 
 <a href="https://www.cnbc.com/2023/01/23/bank-of-america-jpmorgan-and-other-banks-reportedly-team-up-on-digital-wallet-to-rival-apple-pay.html">
 new digital wallet
 </a>
 to rival Apple Pay.
 
 </li>
 </ul>
 </li>
 </ul>
 <hr/>
 <ul>
 <li>
 <h3>
 M&amp;A:
 </h3>
 <ul>
 <li>
 
 FinTech players actively seeking entry into youth money app market: 
 We counted 
 49 M&amp;A transactions
 within the FinTech Services vertical in 1H 2023. Most of these were primarily aimed at adding new products and services to complement their existing product portfolios. Furthermore, a notable trend emerged, with FinTech companies entering the youth money app and card market to capitalize on its significant growth potential.
 
 </li>
 </ul>
 </li>
 </ul>
 <hr/>
 <ul>
 <li>
 <h3>
 Outlook:
 </h3>
 <ul>
 <li>
 
 More consolidation expected as funding environment remains challenging: 
 As interest rates are expected to continue rising, access to funding may become more exclusive, favoring well-established and promising companies. Consequently, smaller, unprofitable companies may encounter challenges in raising funds, leading them to explore M&amp;A opportunities to survive.
 
 </li>
 <li>
 
 Crypto regulations to drive more adoption amongst retailers: 
 The implementation of more stringent regulations on the cryptocurrency industry will instill confidence among the public, encouraging greater adoption. Furthermore, the anticipation of additional regulations aimed at combating money laundering is likely to act as a deterrent against rug pulls and scams.
 
 </li>
 </ul>
 </li>
 </ul>
 
 
</div>

Financial Services (Q3 2023): Funding recovers on the heels of Finastra’s record-breaking private credit deal

Technology providers that enhance satellite operations

Satellite Management

<div>
 
 Introduction to low earth orbit satellites, industry drivers, monetization potential, future outlook and more...
 
</div>

<div>
 <ul>
 <li>
 
 There is a growing trend of low-Earth orbit (LEO) satellites for remote sensing and communications. LEO satellites are closer to Earth, making them ideal for remote sensing and providing faster global communications. They are cost-effective due to smaller components but require larger constellations for effective coverage.
 
 </li>
 </ul>
 
 
 <ul>
 <li>
 
 Monetization in the satellite industry is currently dominated by public-sector and infrastructure companies. Diversification in how satellite services are used is crucial to expand into general private sector and remote sensing industries. The cost of satellite services, particularly satellite imagery data, is gradually declining, making them more accessible.
 
 </li>
 </ul>
 
 
 <ul>
 <li>
 
 The future of LEO satellites involves new entrants in the industry, such as SpaceX, and the increasing importance of commercial satellites due to their cost-effectiveness. There's a shift towards constructing mega-constellations for various applications, especially in communications. However, expanding the use of LEO satellites in secondary and tertiary industries will require improving data accuracy, lowering prices, and proposing innovative usage scenarios.
 
 </li>
 </ul>
 
 
</div>

Low Earth Orbit Satellites

<div>
 
 
 <ul>
 <li>
 
 The GenAI ecosystem raised ~USD 3.1 billion in funding during Q3 2023 across Foundation Models (~USD 2 billion), GenAI Infrastructure (~USD 913 million), and GenAI Applications (~USD 270 million).&nbsp;
 
 </li>
 <li>
 
 China took the lead and implemented GenAI regulations in August, governing both AI content service providers and model providers, while the EU&rsquo;s AI Act finalization is still pending.
 
 </li>
 </ul>
 
 
</div>

<div>
 <h1>
 Key takeaways
 </h1>
 <ul>
 <li>
 
 Regulations
 
 <ul>
 <li>
 
 While the finalization of the 
 EU AI Act is still pending
 , 
 China implemented GenAI regulations
 in 
 <a href="https://www.campaignasia.com/article/chinas-generative-ai-regulations-kick-in-today/485786">
 August
 </a>
 . These new laws govern both AI content service providers and model providers and include measures against illegal and discriminatory content and the use of personal data.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 
 </li>
 <li>
 
 In the Western regions, there were some advancements, with a few guidelines and principles reported during the quarter (such as 
 <a href="https://ai2.news/federal-government-issues-new-rules-for-public-servants-using-ai-2/">
 guidelines
 </a>
 for US government employees using genAI and the Canadian government introducing a 
 <a href="https://ca.finance.yahoo.com/news/ottawa-rolls-voluntary-code-conduct-152922409.html">
 voluntary code
 </a>
 of conduct); however, 
 solid laws and regulations are yet to be materialized
 .
 
 </li>
 </ul>
 </li>
 <li>
 
 GenAI Applications
 
 <ul>
 <li>
 
 We saw prominent disruptors such as 
 <a href="https://sp-edge.com/companies/362567">
 OpenAI
 </a>
 and 
 <a href="https://sp-edge.com/companies/1398144">
 Anthropic
 </a>
 focusing on 
 developing more advanced chatbots
 . These new chatbots can do more than just chat; they can handle voice interactions, generate images, and even write computer code. This shift represents a significant advancement in the field, promising more powerful and versatile AI tools in the future.
 
 </li>
 <li>
 
 Funding in the space saw a decline (Q3: ~USD 270 million, down 56% QoQ). 
 This could be a sign of diminishing enthusiasm within the industry for the smaller players, due to prominent tech giants' substantial influence.
 
 </li>
 <li>
 
 A notable trend was more established disruptors 
 strategically collaborating
 with incumbents to expand the accessibility of their solutions. Examples include 
 <a href="https://sp-edge.com/companies/317772">
 Jasper
 </a>
 &rsquo;s 
 <a href="https://www.prnewswire.com/news-releases/jasper-partners-with-google-workspace-webflow-make-and-zapier-to-bring-on-brand-ai-content-across-the-marketing-stack-301911844.html">
 partnerships
 </a>
 with Google Workspace, Webflow, Zapier, and Make and 
 <a href="https://sp-edge.com/companies/2703952">
 Typeface
 </a>
 &rsquo;s 
 <a href="https://www.businesswire.com/news/home/20230830504662/en/Typeface-and-GrowthLoop-Partner-with-Google-Cloud-and-BigQuery-to-Launch-Unified-GenAI-Marketing-Solution-at-Google-Cloud-Next-23">
 partnership
 </a>
 with Google Cloud and GrowthLoop to launch a unified marketing solution. 
 
 </li>
 </ul>
 </li>
 </ul>
 <ul>
 <li>
 
 Foundation Models&nbsp;
 
 <ul>
 <li>
 
 We saw players in this space, disruptors and incumbents alike, 
 launching new models 
 (
 <a href="https://sp-edge.com/companies/362567">
 OpenAI
 </a>
 &rsquo;s 
 <a href="https://www.theverge.com/2023/9/20/23881241/openai-dalle-third-version-generative-ai">
 DALL-E 3
 </a>
 , 
 <a href="https://sp-edge.com/companies/1880769">
 StabilityAI
 </a>
 &rsquo;s 
 <a href="https://venturebeat.com/ai/stability-ai-unveils-new-freewilly-language-models-trained-using-minimal-and-highly-synthetic-data/">
 FreeWilly, FreeWilly2
 </a>
 , 
 <a href="https://arstechnica.com/information-technology/2023/07/stable-diffusion-xl-puts-ai-generated-visual-worlds-at-your-gpus-command/">
 Diffusion XL 1.0
 </a>
 , 
 <a href="https://stability.ai/blog/stablecode-llm-generative-ai-coding">
 StableCode
 </a>
 , and many more) with various capabilities, including answering complex questions in specialized domains, advanced text-to-image generation, coding, and music generation.
 
 </li>
 <li>
 
 Tech giants continue to invest
 , as demonstrated by 
 <a href="https://sp-edge.com/companies/203208">
 Amazon
 </a>
 's substantial USD 1.25 billion investment in 
 <a href="https://sp-edge.com/companies/1398144">
 Anthropic
 </a>
 , as it looks to strengthen its position in the space. Five players raised a total of ~USD 2 billion across six rounds in disclosed funding in Q3 2023 (~22% less than the previous quarter).
 
 </li>
 <li>
 
 Companies have been actively forming strategic 
 partnerships to broaden the accessibility
 of their models across various platforms, including 1) 
 <a href="https://sp-edge.com/companies/5">
 Meta
 </a>
 &rsquo;s partnerships with 
 <a href="https://sp-edge.com/companies/201465">
 Microsoft
 </a>
 , 
 <a href="https://sp-edge.com/companies/565">
 Alibaba
 </a>
 , 
 <a href="https://sp-edge.com/companies/2981">
 IBM
 </a>
 , and 
 <a href="https://sp-edge.com/companies/203208">
 Amazon
 </a>
 to offer access to its Llama 2 family of models on these platforms, and 2) 
 <a href="https://sp-edge.com/companies/600017">
 AI21 Labs
 </a>
 
 partnering with 
 <a href="https://sp-edge.com/companies/314571">
 Google
 </a>
 to make its large language models (LLMs) available on Google Cloud Marketplace.
 
 </li>
 </ul>
 </li>
 <li>
 
 GenAI Infrastructure
 
 <ul>
 <li>
 
 As the GenAI landscape evolves, companies are proactively seeking opportunities to 
 optimize model efficiency
 and processing (e.g., 
 <a href="https://sp-edge.com/companies/588981">
 VSORA 
 </a>
 <a href="https://www.globenewswire.com/news-release/2023/07/18/2706619/0/en/VSORA-Announces-All-in-One-Single-Chip-Architecture-to-Meet-Generative-AI-Processing-Challenges.html">
 Introducing Jotunn
 </a>
 , an all-in-one single-chip family designed to enhance performance for GenAI inferencing processing). They are increasingly turning to hardware innovations designed to support 
 edge processing
 that could facilitate reduced power consumption, enhanced processing speeds, and a heightened focus on secure data management.
 
 </li>
 <li>
 
 Funding picked up in Q3 2023, with 16 disruptors raising a total of ~USD 913 million, 5x more than Q2. 
 <a href="https://sp-edge.com/companies/150091">
 Databricks
 </a>
 &rsquo; USD 504 million series I round was the highest funding amount recorded by a disruptor during the quarter.
 
 </li>
 <li>
 
 Furthermore, as leading players in the 
 cloud infrastructure domain continue to expand their capabilities
 , businesses are increasingly recognizing the value of partnering with them to create GenAI solutions.
 
 </li>
 </ul>
 </li>
 </ul>
 
 
</div>

GenAI ecosystem (Q3 2023): Forging new frontiers in product and model innovation

<div>
 <ul>
 <li>
 
 The US digital health sector closed with 
 USD 4.0 billion
 across 
 257 rounds
 in Q3, up 10% QoQ
 
 </li>
 <li>
 
 GenAI
 emerged as a common theme among 
 big tech incumbents
 , highlighted by Microsoft and Alphabet forming GenAI partnerships in the hospital management space
 
 </li>
 <li>
 
 Brain-computer interface company 
 Neuralink
 records the highest funding for Q3, raising 
 USD 280 million
 
 
 </li>
 </ul>
 
 
</div>

Digital Health (Q3 2023): Funding gains momentum, GenAI dictates pace of activity

<div>
 <ul>
 <li>
 
 Adoption of GenAI in healthcare continues to grow, Big Tech competition heats up as Amazon makes major moves. 
 
 </li>
 <li>
 
 Alphabet continued to lead healthcare activity. 
 
 </li>
 <li>
 
 No major acquisitions during the quarter, but reports suggest a multi-billion dollar move by Walmart is on the cards. 
 
 </li>
 </ul>
 
 
</div>

<div>
 <ul>
 <li>
 
 Adoption of GenAI in healthcare continues to grow, Big Tech competition heats up as Amazon makes major moves.
 While Alphabet and Microsoft continue to make steady progress in the healthcare GenAI space through their product offerings, Amazon&rsquo;s consolidation through the launch of AWS HealthScribe (a HIPAA-compliant service that enables healthcare software vendors to build clinical applications that automatically generate clinical notes by analyzing patient-clinician conversations) and its strategic investment in 
 <a href="https://sp-edge.com/companies/1398144">
 Anthropic
 </a>
 demonstrate intensifying competition in this space.
 
 </li>
 </ul>
 
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/314571">
 Alphabet
 </a>
 continued to lead healthcare activity. 
 The tech giant accounted for ~32% of all Big Tech activity and nearly a quarter of all healthcare activity. Primary care remained the focus, with nearly 80% of its activities concentrated in the area. However, within primary care, Alphabet broadened its focus to improve preventive healthcare, hospital management and interoperability, AI drug discovery, and clinical decision support.
 
 </li>
 </ul>
 
 
 <ul>
 <li>
 
 Overall activity of retailers slowed in Q3 2023, 
 accounting for 15% (down from 32% during Q2 2023). Walgreens continued its commitment to value-based care. Following a landmark investment in 
 <a href="https://sp-edge.com/companies/324761">
 VillageMD
 </a>
 , Walgreens announced its latest strategic partnership with 
 <a href="https://sp-edge.com/companies/1622932">
 Pearl Health
 </a>
 to bring value-based primary care to communities across the country.
 
 </li>
 </ul>
 
 
</div>

Tech & retail giants in healthcare (Q3 2023): Big Tech pushing GenAI aggressively

<div>
 <ul>
 <li>
 
 Mega investment deals constitute 75% of all funding amidst a decline in funding volumes
 
 </li>
 <li>
 
 Regulators enforce stricter laws on crypto exchanges and issuers to improve consumer protection and adoption
 
 </li>
 <li>
 
 Product launches centered around complementary services and diversifying business models
 
 </li>
 </ul>
 
 
</div>

In 1H 2023, the FinTech Services sector saw a significant decline in funding volumes, but there were 20 mega deals that raised over USD 10 billion. Stripe secured the largest amount of funding at USD 6.5 billion. Regulations for cryptocurrency exchanges and digital token issuers were being finalized, with new laws aimed at regulating the industry. There were numerous product launches focused on complementing existing offerings and creating additional revenue streams. Partnerships were formed to enhance product portfolios, and there were several M&A transactions, with a trend of FinTech companies entering the youth money app and card market. The funding environment is expected to remain challenging, leading to more consolidation, and stricter regulations may drive adoption among retailers.

EDGE Insights