San Diego Startups Raise $287M in Third Quarter, and Top 10 Deals

Venture Capital investments in San Diego startups fell by roughly a third during the three months that ended September 30, according to data released recently by Seattle-based PitchBook and the National Venture Capital Association.

VC firms invested $280.6 million in 49 startups in San Diego County during the third quarter, according to a breakout of data provided by PitchBook as part of the inaugural “Venture Monitor” report.

That was 32 percent lower than the $414.4 million that venture firms invested in San Diego during the prior quarter, although the deal count was up by 10 percent from the 39 companies that received funding. The latest quarter also was down by 33 percent from the same quarter in 2015, when VCs pumped $420.3 million into 61 local companies.

In the biggest deal of the quarter, Carlsbad, CA-based Ostendo Technologies raised $42 million in mid-July to advance its virtual reality display technology.

As Xconomy reported last week, third-quarter venture funding also slipped nationwide to $14.99 billion in 1,810 funding deals in 1,796 companies. Here is a list of San Diego’s top 10 deals of the quarter, based on PitchBook data:

Ostendo Technologies Carlsbad, CA $42 million
Tealium San Diego $35 million
Singlera Genomics San Diego $20 million
Avelas Biosciences San Diego $20 million
Fortis Therapeutics San Diego $18 million
Histogen San Diego $16 million
Medsphere Systems Carlsbad, CA $15 million
CellSavers San Diego $15 million
Progenity San Diego $12 million
AristaMD San Diego $11 million

 

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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