Massachusetts Startup Funding in May Stays Nearly Flat from April at $305.6M
Talk about consistent. Massachusetts startups inked $305.6 million in 36 equity-based deals in May, nearly identical to the $306 million they raised across 35 deals in April. That’s according to FundingFlash, a daily roundup of companies receiving venture capital, angel investment, and growth equity funding, provided by our data partner CB Insights.
Startups in healthcare took an even bigger share of the overall funding pot last month, at $183.5 million across 15 deals. A $91 million Series D financing for Cambridge, MA-based osteoporosis drug developer Radius Health led the month’s list of deals, and helped the healthcare sector take the top spot for dollars raised for the month. It was a big drop to the second-highest deal, a $34 million investment in Waltham, MA-based Histogenics, which is developing tissue regeneration products for knee cartilage repair.
Healthcare companies raised almost four times as much as the runnerup sector in May, Internet companies, at $46.6 million. PlumChoice, aBillerica, MA-based provider of remote IT services, took the top spot for the sector and the third spot overall, with $25.6 million.
The electronics sector sowed up an uncharacteristically high spot on the monthly funding list at third. That was entirely due to a $22 million deal for Watertown, MA-based QD Vision, which is developing quantum dot technology to enhance the LED backlights and overall displays on electronics like cell phones and TVs.
Funding for mobile, energy, and non-Internet or mobile software companies all slipped in May from the previous month. We’ll have to keep our eyes on those sectors, but in the meantime, check out the full list of deals below.
Bay State startups collected another $32.3 million in 17 debt-based transactions. You can read those details below.