Supply chain tech VC deal activity declined sharply in the third quarter of 2022. PitchBook tracked 188 deals in the quarter, which represented a quarter-over-quarter (QoQ) decline of 37.7% and a YoY decline of 55.7%. The number of deals was 40.7% below the five-year quarterly average. Deal value experienced a steeper QoQ decline of 67.9% to $3.3 billion. Some of the bigger VC deals in the quarter include Denim, TruKKer, and Geek+, the latter two being non-US. On a YoY basis, deal value was down 77.2% and was 62.7% below the five-year average. The number of angel and seed stage deals has experienced the greatest compression across stages, while late-stage deals showed a less steep decline for the year-to-date period. In terms of deal value, early stage declined the most YTD, while late-stage and angel and seed deals showed similar levels of decay. The number of exits in the quarter ticked up slightly QoQ, however the value of exits was down 59.0%. For the YTD period, buyout activity—albeit a small fraction of total exits—has actually increased. Public listings among supply chain tech companies are down 73.0% YTD. During Q3, the most prominent IPO in the supply chain tech vertical was the Chinese logistics platform provider GigaCloud Logistics, which listed on the Nasdaq on August 18, raising $36.0 million.