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Bay State Startup Investments Soared in July—Internet the Busiest Sector

Xconomy Boston — 

Investments in Massachusetts startups rose as fast in July as the Red Sox have fallen in August. Venture investors poured some $215 million into a whopping 25 deals last month. That marked a 54 percent jump over the $139.5 million invested in 15 deals in June, according to data provided to Xconomy by ChubbyBrain, a New York-based information services company developing tools for investors, startups, and aspiring entrepreneurs.

In addition to the venture investments, last month saw a shade over $197 million worth of debt financings, led by an enormous $191 million deal by Newton, MA-based wind farm developer and operator First Wind. This was a tremendous rise over last month’s two debt deals totaling $5.5 million.

See our tables of all July Bay State venture deals and debt financings on the second page of this post.

July’s biggest venture deal was the $50 Series D round done by Burlington, MA-based ConforMIS. The company provides customized knee implants for patients based on CT or MRI scans. That easily topped the next biggest deal of the month, the $30 million Series B round for Waltham, MA-based Avila Therapeutics. The round was led by new investor the Novartis Option Fund, which also agreed to co-develop Avila’s drugs for up to $200 million in upfront and future milestone payments.


Other highlights from the July ChubbyBrain data:

—The 25 venture investments spanned all stages, but nearly two-thirds involved early rounds, with 10 Series A deals and six Series B financings. That was a bit higher … Next Page »

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  • http://www.commonangels.com James Geshwiler

    It’s good to see the increase in financing activity. A lot of this comes from decisions a handful of organizations made in Q1 that now was a good time to be investing. Deals started in March, April and May got closed in July. I’d expect the same to continue through August and into the fall. The other good thing is to see the average size of a Series A coming down; that’s probably healthier for all concerned by keeping post-money valuations more manageable.