Tampa Bay is once again bucking the national trend of a stagnant market with its latest month of funding.
July brought in roughly $28.8 million, not including any deals with undisclosed amounts — which could total an additional $10.4 million. For comparison, June brought in $17 million, and May garnered $5.5 million, according to Pitchbook's latest Q2 venture report.
While the majority of the nation is on a funding pause as a tumultuous market continues, the Southeast has been on a funding tear. The region brought in more than $5.1 billion in Q2 alone, according to the Pitchbook report, compared to the Northeast region with a 28% decline; Mid-Atlantic with a 7% dip and West Coast which was down 10%.
We've rounded up the deals you may have missed last month below.
- Sarasota-based luxury jet club AeroVanti Air Club closed a $9.75 million Series A round, which it believes is a stepping stone toward going public next summer. The company previously raised a $2 million friends and family round when it launched in 2020. The latest round was led by New Jersey bank Network1 Financial Securities Inc. The Business Journal's got the story.
- RxLive, which provides access to pharmacists via its telehealth platform, closed an oversubscribed $5 million Series A. The funding was led by Massachusetts-based SpringTide, a healthtech-focused venture capital firm, and will be used for further expansion. We've got the scoop on the other industry heavyweights that participated here.
- Morphogenesis closed $9.1 million in funding, with an anticipated $21.6 million total closing in the next 60 days. That's in addition to adding a new CEO, former Seattle-based James Bianco, and a quest to go public. You can get the full details over at the Business Journal.
- Spontivly, a St. Pete-based community-focused tech company, made headlines in June for snagging funding from "Shark Tank" star Mark Cuban. It's now closed an oversubscribed bridge round in the six-figure range, with participation from TampaBay.Ventures and Miami-based Rezilyent Capital. Get the story.
- Base Culture, a natural food brand known for paleo, grain-free and gluten-free frozen baked goods, closed a Series D. While company CEO Jordann Windschauer said the round was for an undisclosed amount, a filing through the U.S. Securities and Exchange Commission shows Base Culture raised $9.5 million on July 18. It had participation from baked goods giant Flowers Foods Inc., which is best known for its bread production ranging from Nature’s Own to Wonder and Dave’s Killer Bread. See the full details.
- Tampa-based PeopleGuru, a SaaS company focused on payroll, closed a $5 million Series A. The company has more than half its 50 employees in the Tampa Bay region and plans to use the funding to help local hiring, as well as expand customer service offerings. We've got the details you need on this under-the-radar company.
- New St. Pete transplant Phospholutions received additional investment for an undisclosed amount. The agtech company stated multiple investors participated, including Ospraie Ag Sciences and Bunge Ventures. According to company officials, this is not related to a Series A or a bridge round and is standalone additional funding.
