Triangle-area startups reported raising nearly $180 million in outside capital in the month of September alone.
A sweep of securities filings and company disclosures show raises in multiple industries – from tech to crop sciences to biotech. The biggest raise of the month was that of AgBiome, an Research Triangle Park-based agtech firm that reported a $116 million raise Sept. 14.
AgBiome is working on all-natural ways to help farmers enhance their crop yields. Its scientists analyze soil samples, scouring for microbes with disease resistance and insecticide properties. The latest raise brings the firm’s cash haul to more than a quarter of a billion dollars.
Wild Earth also closed on a major round. The vegan dogfood company, which moved its headquarters from California to Durham, reported closing on $23 million.
And October is already shaping up to be a good month for companies raising capital. As of Oct. 12, filings show Triangle-area growth companies have already raised more than $32 million in the month.
So far in 2021, the total is more than $2.4 billion, led by Epic Games, which closed on $1 billion in April.
Already this year, five firms have closed on more than $100 million:
Epic Games, $1 billion, April 13
Cary-based Epic Games develops video games and gaming software – including the blockbuster "Fortnite" title. Led by CEO Tim Sweeney, Epic Games is also known for Unreal Engine, its video game development platform. In April, Epic confirmed the addition of $1 billion to its coffers, led by another “strategic investment” from tech giant Sony (NYSE: SONY).
Pendo.io, $150 million, July 28
Pendo, headquartered in Raleigh and led by CEO Todd Olson, develops software aimed to drive product adoption. On industry followers' shortlists to be the next Triangle IPO, Pendo is now valued at $2.6 billion. The company committed to hiring 590 in downtown Raleigh three years ago.
Strata Solar, $150 million, April 1
Strata Solar is a Durham-based turnkey solar provider led by CEO Markus Wilhelm. In April, it announced a deal with Blackstone (NYSE: BX) through Blackstone Credit and its affiliates that provided it with $150 million in capital.
FlexGen, $150 million, Aug. 26
FlexGen is a Durham company that develops software for energy storage solutions. The financing is a commitment from funds managed by affiliates of Apollo Global Management, CEO Kelcy Pegler said earlier this year.
AgBiome, $116 million, Sept. 14
AgBiome recently released its first product, a fungicide called Howler. And it’s planning to launch a second fungicide, Theia, in early 2022, provided it passes regulatory muster.
