PitchBook-2025年一季度供应链技术风险投资趋势（英）-2025_9页_8mb

Supply Chain Tech VC Trends Summary

Core Content

This document provides an overview of venture capital (VC) activity in the supply chain technology sector for Q1 2025. It outlines the current state of the supply chain tech landscape, highlights the VC ecosystem market map, and summarizes the key deals and exits in the quarter. The analysis covers deal value, deal count, and exit activity across various segments of the supply chain tech industry.

Main Segments of Supply Chain Tech

The supply chain tech ecosystem is divided into four main segments:

1. Enterprise Supply Chain Management

   • Includes asset tracking & management, enterprise resource planning (ERP) & inventory management, and other supply chain management (SCM) solutions.
   • Deals in this segment showed modest growth in Q1 2025 compared to the previous quarter.

2. Warehousing Tech

   • Encompasses augmented reality, sustainable packaging, warehouse automation, and warehousing & fulfillment.
   • Deal value in this segment declined QoQ after showing solid growth in 2024.

3. Freight Tech

   • Covers autonomous trucks & middle mile, fleet management, marine, rail & port logistics, marine/air/rail freight, and other freight solutions.
   • Despite a decline in Q1 2025 due to the Waymo deal, the segment's deal value was still approximately twice the average of the prior four quarters.

4. Last-Mile Delivery

   • Includes autonomous delivery, delivery services, drones & eVTOL logistics, and other delivery solutions.
   • Deal value in this segment dropped sharply in Q1 2025.

Key VC Activity in Q1 2025

Deal Activity

• Total Deal Value: $2.4 billion

• Deal Count: 163

• QoQ Change: -14.7%

• YoY Change: +23.8%

• Deal Value Share of Total VC: 2.1%

• Late-stage VC Deals: Increased by 45% compared to the previous quarter.

• Pre-seed/Seed, Early, and Late Stage Deals: All declined moderately QoQ.

Exit Activity

• Exit Count: 21

• QoQ Change: +50%

• Exit Value: Not explicitly stated, but the increase in exit count was driven by a doubling in acquisitions.

• Exit Value Share of Total VC: 25.4% higher than the average of the prior four quarters.

• Acquisitions: 14 in Q1 2025

• Buyouts: 6 in Q1 2025

• Public Listings: 1 in Q1 2025

Notable Deals

Notable Exits

Key Insights

• Deal Value Trends: Q1 2025 deal value was down sharply QoQ but returned to levels seen in Q3 2024. The YoY increase was 23.8%.
• Segment Performance: While enterprise supply chain management and freight tech showed relative stability, last-mile delivery and warehousing tech experienced significant declines in deal value.
• Investor Activity: Major investors such as B Capital Group, Tiger Global Management, and Atomico were active in the Q1 2025 deals.
• Exit Trends: Acquisitions dominated the exit landscape, with a notable increase in exit count compared to the previous quarter.
• Public Listings: Only one company, GrubMarket, went public in Q1 2025, indicating a shift in focus towards acquisitions and buyouts.

Conclusion

The Q1 2025 supply chain tech VC activity reflects a mixed performance across segments. While the overall deal value declined QoQ, it was still higher than the average of the previous four quarters. The focus on acquisitions and buyouts suggests a trend towards consolidation and strategic growth in the sector. Key players and emerging technologies continue to attract significant investment, highlighting the ongoing interest in innovation and efficiency within the supply chain technology landscape.