Funding for companies around the world decreased in 2022, but there were still many startup industries that captured investors’ attention — and dollars.
Companies received $1.2 trillion in funding globally last year, down from $1.3 trillion in 2021, according to York IE Fuel. We’ve used Fuel’s data to compile the below lists of the largest and fastest-growing startup industries in technology and science sectors.
Defining Startup Markets
Most market research and data platforms rely on crowdsourcing or manual categorization to place companies in markets. This approach gets outdated fast — if it was ever accurate at all. Fuel, on the other hand, uses natural language processing to learn how a company positions itself and automatically classifies that company into its relevant markets.
In Fuel, you can view more than 700 markets, from A/B testing to wireless, to see who the major players are, what the big news is and which companies are getting funded.
Top 10 Startup Industries by Funding
These are the largest markets based on the amount of funding raised:
Biotechnology: $91.8 billionEnergy: $91.6 billionLife science: $89.7 billionRenewable energy: $89.7 billionBiopharma: $86.8 billionEnergy management: $79.4 billionNeuroscience: $67.6 billionPharmaceutical: $66.6 billionOil and gas: $65.2 billionEnergy efficiency: $58.4 billion