Tech startup investments continued to retreat in 2023 as enterprise capitalists tightened their belts and corporations trimmed prices amid uncertainty concerning the broader financial system.
Complete funding to Pacific Northwest startups fell practically 60% year-over-year in 2023, in accordance with GeekWire’s funding listing. And never a single unicorn was topped this 12 months — after 9 reached the $1 billion valuation threshold in 2021.
However there have been nonetheless a handful of startups throughout the area that raised sizable funding rounds to gasoline development within the months and years forward.
Biotech, well being tech, and aerospace corporations reeled in a number of the greatest chunks of money. Enterprise software program startups, a core power of Seattle’s tech ecosystem, and in addition landed cash.
Right here’s a have a look at the highest funding rounds of 2023.
Avalyn Pharma
The Seattle biotech agency, based 2011, is growing inhalation therapies for uncommon pulmonary illnesses. It raised a $175 million Sequence C spherical in September. Learn extra.
Pivotal Commware
The Invoice Gates-backed firm develops millimeter-wave 5G community infrastructure merchandise. Gates Frontier and Tracker Capital led a $102 million Sequence D spherical in August. Learn extra.
Stoke Area
The Kent, Wash.-based firm, based by Blue Origin vets in 2019, is on a quest to create reusable rockets. Industrious Ventures led a $100 million Sequence B spherical in October. Learn extra.
Viome Life Sciences
The Seattle-area well being tech startup, led by Naveen Jain, closed a $86.5 million Sequence C spherical in August co-led by Khosla Ventures and Daring Capital. It additionally introduced a take care of CVS to promote its intestine microbiome check in 200 CVS places throughout the U.S. Learn extra.
Facet Biosystems
The ten-year-old Vancouver, B.C.-based biotech firm inked a partnership price doubtlessly greater than $2.6 billion with Danish biopharma big Novo Nordisk to develop “bioprinted” tissue therapeutics. The deal included $75 million in upfront funds, analysis funding and a convertible notice funding. Learn extra.
Temporal
The Seattle startup, based in 2019 by former Uber engineers, raised $75 million in February, pushing whole funding previous $200 million. Its software program helps corporations write and run cloud functions. Learn extra.
DexCare
The 7-year-old Seattle startup, which spun out of Windfall, affords a healthcare affected person demand and entry platform. Iconiq Progress led a $75 million Sequence C spherical in June. Learn extra.
Inrix
The longtime Seattle-area transportation analytics supplier raised $70 million in a credit score facility from funding funds managed by Morgan Stanley Growth Capital and Morgan Stanley Tactical Worth in August. It beforehand raised a $55 million fairness spherical in 2014 from the Porsche household. Learn extra.
Chainguard
The two-year-old startup based mostly in Kirkland, Wash., goals to assist clients safe their “software program provide chain,” a time period used to explain an organization’s software program manufacturing line. Spark Capital led a $61 million Sequence B spherical final month. Learn extra.
Wrench
The 8-year-old Seattle startup affords a cellular automotive restore service. It raised $40 million in debt and $14.2 million fairness in August. Learn extra.
AltPep
The College of Washington spinout is growing assessments and coverings for Alzheimer’s and Parkinson’s illness. Senator Funding Group led a $52.9 million Sequence B funding spherical in June. Learn extra.
MotherDuck
The Seattle software program startup, based final 12 months, payments itself as a “collaborative serverless analytics platform.” Felicis led a $52.5 million Sequence B spherical in September at a valuation north of $400 million. Learn extra.
Parse Biosciences
The Seattle biotech startup, one other UW spinout, develops single cell sequencing merchandise utilized by greater than 1,000 labs worldwide. It raised $50 million as a part of a Sequence C fairness spherical led by Soleus Capital and a debt facility. Learn extra.
Procurify
The Vancouver, B.C.-based enterprise spend software program firm raised a $50 million Sequence C spherical led by Ten Coves Capital in October. Learn extra.
EigenLayer
Based in 2021, the crypto startup describes itself as a “restaking collective for Ethereum.” Blockchain Capital led a $50 million Sequence A spherical in March. Learn extra.
Carbon Robotics
The Seattle-based makers of a weed-zapping machine powered by synthetic intelligence and laptop imaginative and prescient know-how raised $43 million as a part of a Sequence C spherical. Complete funding for the 5-year-old firm is $80 million. Learn extra.
Proprio
The UW spinout raised a $43 million Sequence B spherical in July following FDA clearance for its surgical navigation platform that enables clinicians to see key buildings on a display in three dimensions in actual time. Learn extra.
Pulumi
The Seattle startup helps builders construct underlying cloud computing infrastructure utilizing common objective languages comparable to JavaScript and Python. Madrona Enterprise Group led a $41 million Sequence C spherical in October. Learn extra.