Angel Funders Report 2021 - Flipbook - Page 27
FIGURE 13. Valuations Varied More by Region in 2020
FIGURE 14. Fintech and Clean/Greentech Lead Valuations
As shown in Figure 14, valuations continue to vary significantly by sector. The
highest seed valuations were seen in financial technology (one of the most
competitive sectors) and clean technology (one of the most capital-intensive
sectors with $10 million-$15 million) and the lowest seed valuations were seen in
educational technology and food technology ($4 million.) These two industries
were negatively impacted by the pandemic, perhaps leading to lower valuations.
Retail technology valuations increased, perhaps driven by an influx of innovative
solutions in a rapidly changing marketplace and by the change in consumer
behavior favoring new at-home delivery services driven by the pandemic. Health
care valuations, despite strong deal activity, did not increase in 2020.
24 | Valuation Trends
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