Seattle-area startups raised a https:/squeelee.com/ record $1.5 billion in venture capital funding in the second quarter of 2023, according to a report by PitchBook. The figure is up from $1.2 billion in the first quarter and is the highest quarterly total for the region since 2021.
The largest funding round in the quarter was a $300 million Series D round raised by healthcare startup Devoted Health. Other notable deals included a $200 million Series C round for climate tech startup Project Drawdown and a $150 million Series B round for fintech startup Amount.
The strong funding environment is being driven by a number of factors, including the region’s deep pool of talent, its strong track record of producing successful startups, and the increasing interest of investors in climate tech and other growth areas.
The Puget Sound region is home to a number of high-profile startups, including Amazon, Microsoft, and Starbucks. The region is also a major hub for the life sciences and aerospace industries.
The strong funding environment is a positive sign for the Seattle-area startup ecosystem. It is likely to lead to the creation of new jobs and the development of new technologies that will benefit the region and the world.
In addition to the funding news, here are some other recent business news headlines from the Seattle area:
- Compass shutters Seattle-based title business Modus.
- Tacoma developer buys parking garage near Old City Hall renovation project.
- Drug possession measure passes Seattle City Council committee.
- Ex-Funko CEO Brian Mariotti resigns from board a month into sabbatical.
- Vertical World expands with new lease in Interbay.
- Seattle-area home prices remain stable amid low inventory.
- Washington hospital systems downsize amid financial pressures.
These are just a few of the many business stories that are making headlines in Seattle today. To stay up-to-date on the latest business news, be sure to subscribe to the Puget Sound Business Journal.