Digital health startups raised just $3 billion globally in the third quarter, marking the sector’s lowest level of quarterly funding since 2016, according to a new report by CB Insights. Deal count dropped 33% quarter over quarter to reach 247, the lowest number in nearly a decade, according to the analysis. Funding fell 14% from last quarter, contrary to a broader increasing venture funding landscape. Overall, global digital health funding has hit $10.2 billion so far this year, only 40% of last year’s total. Just over a thousand deals have closed in 2023, about half the final count of 2022.
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