TLDR:
Despite a drop in VC funding, Miami’s startup ecosystem shows “staying power” with significant funding raised in Q1 2024.
Summary:
The first quarter of 2024 saw a decrease in VC funding for U.S. startups, with about $36.6 billion directed across 3,925 deals, nearly 30% lower than the previous year. South Florida startups attracted $582 million over 94 deals, ranking it as the sixth-most active market in the country. Miami’s market has shown resilience, with a doubling in deal count between 2019 and 2022. However, there have been funding declines in the tri-county area since the peak of the pandemic. Notable funding deals in the Miami area include Crisp, Passes, Downpayments, HealthSnap, and Upwards. Miami Inno’s newsletters offer more insights on the South Florida startup ecosystem.
