Investment deal flow for Pittsburgh-area tech firms has seen a quarter-to-quarter decrease over the past three months, which comes six months after the worst quarter for such activity in at least a decade.
That's according to an analysis of data from the PitchBook-National Venture Capital Association Venture Monitor, which released its latest report on Thursday of tech investment across the country in addition to city-by-city and regional breakouts.
A hair over a dozen local tech companies received at least $43.85 million in funding during the past quarter, which ended on Sept. 30. That's down from the estimated $77 million that about two dozen local firms raised in Q2.
Of note: This $43.85 million investment figure does not match the final sum Pitchbook reached for the Pittsburgh metro as Pitchbook included a $3.7 million funding deal that went to a nontech firm in its most recent report.
Per PitchBook, these are the local tech firms that received the largest investments over the past quarter:
- Noveome Biotherapeutics: $20.7 million
- Aspinity: $10.7 million (over half of which includes the conversation of prior investment notes)
- Duo Oncology: $4.3 million
- Koop: $3.2 million
- Realyze Intelligence: $1.3 million
- Finish Robotics: $900,000
- Pittsburgh Knights: $700,000
- PredxBio: $600,000
- Adrich: $500,000
