As we showed earlier, the check size of travel tech companies has been massively hit. VC-backed Series A check sizes in the sector have dropped 84 percent, from $14.68 million in 2019 to $2.3 million in 2020.As I have experience firsthand, working with partners in the U.S., Israel, Europe and Asia, COVID-19 has impacted all our lives on a massive global scale. These days we rarely leave our cities, let alone fly internationally.
Customers may buy your product without meeting you in person, however, making a large B2B sale without meeting the client is difficult. We all hope to see the world go back to “normal” as soon as possible. I personally have high hopes that a vaccine or therapy will be available within a year, after which we will have a new “normal” on our hands.
As innovative entrepreneurs and investors, we need to adapt and see this as an opportunity to identify new trends which will take over. These may be remote work, remote health, e-commerce, automation, trends that will continue to rise, alternative ways to invest our capital and more. Those who will innovate and adapt themselves to the new norm, will succeed despite and even thanks to the pandemic.There is often a delay between when a venture capital deal is closed and when it’s publicly reported and captured by Crunchbase so this number may not reflect the complete funding landscape during that time period. Reporting delays are most common at seed stage.
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