Roebling Bridge Across Ohio River in Cincinnati. Photo Courtesy Getty Images, Jen Seiser
Jen Seiser
Ohio businesses raised more than $961 million over 147 deals in 2019, slightly down from the year prior when they brought in $1.1 billion through 153 deals.
So how are they starting out 2020?
Currently, Airway Therapeutics leads the way for the largest funding round of 2020. The company announced in early January that it had secured $15.5 million in a Series C round of funding.
Cincy Inno covers funding news and other tech headlines every day in our newsletter, The Beat. Be sure to sign up to stay on top of the latest startup and innovation news in Cincinnati.
Airway Therapeutics
- Local biopharmaceutical company Airway Therapeutics, which is working to “break the injury cycle” of inflammation for those with respiratory and inflammatory diseases, closed an oversubscribed $15.5 million Series C round.
Coterie
- Commercial insurance startup Coterie closed on an oversubscribed $8.5 million round of Series A financing to continue its growth. The round included investment from Ann Arbor, Mich.-based RPM Ventures and Carmel, Ind.-based Allos Ventures. Coterie offers general and professional liability insurance, along with business owners’ policies.
Upshift
- Cincinnati-based tech company Upshift raised a $3.7 million round of Series A funding from a group of investors that includes Recruit Holdings Ltd., the parent company of Indeed and Glassdoor.
Other Moves
- Venture capital firm Maywic Select Investments closed on $50 million for its third investment fund. This is the firm's largest fund to date. Maywic backs growth-stage companies that promote healthy lifestyles, wellness and well-being. Its portfolio includes New york-based fitness giant Peloton.
- Allos Ventures, an Indianapolis-based venture capital firm with an office in Cincinnati, secured $52 million for its latest fund, Allos III.
- Investor and author J.D. Vance announced that he planned to launch a Cincinnati-based VC firm called Narya Capital. It is backed by major players like Peter Thiel, Eric Schmidt, Marc Andreessen and ExactTarget co-founder Scott Dorsey. At the time of the announcement, Narya had secured $93 million for its planned $125 million fund.
