Down rounds are a more definitive indication of falling value.

降价融资更明确地表明价值下降。

Only a few down rounds have been publicly reported.

公开报道的只有几轮融资。

I went on down, rounded the curve and was at the edge of the hollow closed in by brush.

我继续往下走，绕过弯道，来到被灌木丛包围的洼地边缘。

With his spade he scraped the ground underneath, and fitted the round side of the log firmly down into it.

他用铁锹在下面刮地，把圆木的圆边牢牢地插进去。

The ultimate test will be the number of " down rounds" , where firms raise new capital at a lower valuation than before.

最终的考验将是“低价融资”的数量，即公司以低于以前的估值筹集新资本。

So they worked away at the rock, and planted it, and smoothed the sand down round, it, and capital fun they had till the tide began to turn.

所以他们在岩石上工作，种植它，把它周围的沙子弄平，他们玩得很开心，直到潮水开始转向。

Last month Instacart, a grocery-delivery firm, took the unusual step of announcing its own devaluation, from $39bn in March last year to $24bn, even without an accompanying " down round" of fund raising at a lower price.

上个月，食品杂货配送公司Instacart采取了一项不同寻常的举措，自己宣布其资产贬值，从去年3月的390亿美元降至240亿美元，甚至没有伴随着一轮以更低价格进行的“下行”融资。

According to Carta, an equity platform for start-ups, in the first quarter of 2023 almost Almost a fifth of all venture deals were down rounds, where firms raised money at a lower valuation than before.

根据初创企业股权平台 Carta 的数据，2023 年第一季度， 几乎五分之一的风险交易都是折价融资，企业以比以前更低的估值筹集资金。