TLDR: Top 10 funding deals in Q1 for Pacific Northwest startups
Key Points:
- Startup fundraising activity in the first quarter of 2024 remained steady, with a focus on strong companies attracting investment.
- Funding to tech startups in the Pacific Northwest totaled over $433 million, with some companies still raising sizable rounds.
Startup fundraising in the Pacific Northwest remained steady in the first quarter of 2024, despite the overall venture capital slowdown across the U.S. The total funding to tech startups based in Seattle and the Pacific Northwest reached over $433 million, with several companies securing substantial rounds. Some of the top funding deals in Q1 for Pacific Northwest startups include:
- ProfoundBio: A Seattle-based biotech firm raised $112 million in February, and was later acquired by Danish drugmaker Genmab.
- EigenLayer: A blockchain startup led by founder Sreeram Kannan raised $100 million from Andreessen Horowitz.
- Pandion: Founded by a former Amazon and Walmart executive, this e-commerce startup raised $41.5 million to expand its parcel delivery system.
- Oleria: A cybersecurity startup in Seattle raised $33 million to help companies prevent and respond to breaches.
- Interlune: A space startup company raised $18 million to build a robotic harvester for extracting helium-3 from moon dirt.
- Betadapp: A Vancouver-based company developing fraud detection technology for the music industry raised $17 million.
- Recurrent: This Seattle-based startup focuses on used EV battery analytics and secured $16 million in funding in January.
- Avante: A stealthy Seattle startup raised $10 million for its platform empowering a healthier workforce.
- Symbiosys: The advertising tech startup raised $9 million to help retailers sell off-site ads that promote products from brands.
- Digs: A collaboration platform for builders and homeowners raised $7 million in January.
The funding landscape in the Pacific Northwest showcases the diverse range of startups attracting investments and highlights the resilience and innovation within the region’s entrepreneurial ecosystem.
