Despite the national tech downturn, Pittsburgh-based startups landed investment deals at a better rate than the national average last quarter.
According to data from the PitchBook-NVCA Venture Monitor, 19 local startups saw a combined $171.96 million in new funding between July and September of this year. That's up 38.5% from the combined $124.11 million raised in the prior quarter and it's up 24% from the combined $138.59 million local startups raised during the same quarter last year.
At the national level, total venture capital investment totaled $43 billion, down 20.2% from the $53.9 billion raised in the prior quarter and down 48% from the $82.8 billion raised in last year’s Q3.
Here are the top venture capital deals scored by startups in the Greater Pittsburgh area last quarter, according to Pitchbook:
- Cancer immunotherapy developer Novasenta Inc. | $40 million | Series A | led by UPMC Enterprises
- Health care financial and administrative reducer Annexus Health | $33 million | Series B
- IRA record keeping fintech startup IRALOGIX Inc. | $22 million | Series C | led by high-net-worth individuals or angel investors
- Biotech researcher ECM Therapeutics Inc. | $15 million
- Medical transcription platform Abridge AI Inc. | $13 million | Series A1 | led by Toronto, Canada-based Wittington Ventures
- Trucking software management firm Maven Machines | $10 million | Series A
- Agtech produce harvesting startup Bloomfield Robotics | $6 million
- Plant-based food manufacturer Fullgreen | $6 million
- Artificial intelligence- and machine learning-equipped circuit maker Aspinity | $5 million
