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

VitusVet moves to Baltimore from Columbia, plans hiring

MICA’s UP/Start Venture Competition meant progress and funding for these 8 startups

Here’s a look at 11 Johns Hopkins student startups working in health, VR and beverages

SPONSORED

Baltimore

How SmartLogic accelerated these startups’ product growth trajectories

Philadelphia, PA

Orthly

Full-Stack Javascript Engineer

Apply Now
Baltimore, MD 21201

14 West

Chief of Staff

Apply Now
Baltimore, MD

SmartLogic

Product Designer

Apply Now

Power Moves: Frank Bonsal III is leaving TU incubator, returning to venture capital

This startup has a way to charge wireless devices without cords

Baltimore’s ABS Capital Partners leads $23M Series A for Florida cybersecurity company

SPONSORED

Baltimore

This fast-growing SaaS company aims to be a force for change in the energy industry

Baltimore

Technically Media

Technical.ly Baltimore Contributing Reporter (Contract or Freelance)

Apply Now
Baltimore, MD

SmartLogic

Developer

Apply Now
Baltimore, MD 21201

14 West

Application Security Engineer (Pen Tester)

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!