Venture capital money has a knack for finding great companies and great innovation ecosystems.
After reading the latest Pitchbook NVCA Venture Monitor report, it’s clear Maryland is meeting that standard.
Maryland companies raised a record $2.27 billion in venture capital in 2021 – that’s an 83 percent increase over the previous record of $1.24 billion raised in 2021. Further, over the past decade we’ve seen a 49 percent increase in the number of venture capital deals in Maryland, with 175 deals done in 2021.
These deals are catalysts for new economic activity in our communities – new hires, new equipment, new lab and office space – as well as the development of new products and services that make our world healthier and safer. It’s a testament to the work of these great companies, and also how crucial it is to protect and grow our innovation ecosystem in Maryland.
Congrats to the following MTC members on being recognized by Pitchbook for their venture capital deals in 2021:
- Sirnaomics in Gaithersburg raised $105 million in Series E funding
- PGDx in Baltimore raised $103 million in Series C funding
- Adaptive Phage Therapeutics in Gaithersburg raised $41 million in Series B funding
- Innovative Cellular Therapeutics in Rockville raised $40 million in Series C funding
- Vita Therapeutics in Baltimore raised $32 million in series A funding
- Curio Wellness in Lutherville-Timonium raised $22 million in equity funding
- Veralox Therapeutics in Frederick raised $17 million in Series A funding
- Immunomic Therapeutics in Rockville raised $16 million