Maryland companies raised $247M in venture funding during the second quarter of 2018 - Technical.ly Baltimore

Business

Jul. 12, 2018 11:44 am

Maryland companies raised $247M in venture funding during the second quarter of 2018

When it comes to dollars raised, the numbers at the halfway point of the year are on pace to top 2017 totals.

Let's talk money.

(Photo by Flickr user Pictures of Money, used under a Creative Commons license)

Investors pumped $247 million in VC funding into 23 Maryland companies during the second quarter of 2018.

That’s according to the latest Moneytree Report from PwC and CB Insights.

The dollar amount invested is up from the $102 million invested in the second quarter of 2017. It’s down from the first quarter 2018 total of nearly $408 million, even as the number of companies receiving funding rose by three.

Halfway through the year, the statewide total of nearly $655 million raised is more than two-thirds of the way toward topping last year’s total of $903 million.

The largest deal of the quarter was a $78 million investment round for IronNet Cybersecurity, the Fulton-based company founded by former NSA chief Keith Alexander.

In Baltimore, the largest deal of the quarter funded WindMIL Therapeutics, a biotech startup developing new cancer treatments. Here are the top 3 deals: The Johns Hopkins spinout raised $32.5 million. For Baltimore, the top three also included a $7.6 million round for nanocrystal manufacturer Pixelligent and soft tissue substitute developer LifeSprout’s $6.5 million in funding. The $2 million seed round for serverless cybersecurity company Protego was also among the deals highlighted by the report.

In all, 17 Baltimore companies received a total of $157.8 million so far in 2018, the report states.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

MindX, a startup developing brain-controlled smartglasses, names Julia Brown as CEO

Millennial Media alum Matt Gillis joins Clean Creative as CEO

JPMorgan Chase is expanding its Entrepreneurs of Color Fund to offer loans in Baltimore

SPONSORED

Baltimore

Arrive ready to grow at 14 West

Baltimore, MD

SmartLogic

Product Designer

Apply Now
Baltimore, MD 21201

Agora Financial

Jr. Project Manager / Business Analyst

Apply Now
Canton in Baltimore, MD

iVeia

Software Engineer (Embedded/SoC)

Apply Now

Maryland entrepreneurs are upping local presence at Startup Grind’s global conference

These 8 MICA ventures are finalists for Up/Start 2019

Traitify taps former Ad.com executive as it sees growth in talent market

SPONSORED

Baltimore

The Washington Post is reprogramming the way news breaks

Baltimore, MD

SmartLogic

Developer

Apply Now
Baltimore, MD 21201

The Oxford Club

Web Developer

Apply Now
Annapolis Junction, MD

Asymmetrik

FULL-STACK DEVELOPER

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!