2021 was the greatest year of fundraising physical security ever seen. 2022 was significantly lower. 2023 has also been relatively quiet, though two relatively big deals - Solink Raises $60 Million, Led by Goldman Sachs, and Security Integrator Invests $192 Million Into Brivo and Eagle Eye.

**** ****** ** *** *********** -‘***** ****’ ** **** ****** **** Startups — *** ***********

*** ******* ** **** ****** **** has *** *** ******* ***** **** the **** **** ** ******** ** become * *****, ********* *** ******* say.

**** ********** *** ********** *** ****** of **** ********** ** **** ***** loom. ***** ***** ** ***** **** have ************ *** *****, ************ *** former *********, *** **** **** **** overpriced ***** ******* **** ****** ****** worthless. *** **** ***** *** ** emotionally ******.

*** ********** **** **** ** **** there **** *** ** * *** of **** ** ******** ********, ****** of ****** **** ********* **** ***** that **** ******* **** ******** ******** have ******* **** ******* **** ******.

****, ******* ******* ******* ****** *** ********* Challenges ********, ** *** ** *****.