Massachusetts Startups Reclaim VC Lead With $4.7 Billion in Q2 as Texas Falls to $2.3 Billion
Updated
Updated · The Boston Globe · Jul 9
Massachusetts Startups Reclaim VC Lead With $4.7 Billion in Q2 as Texas Falls to $2.3 Billion
1 articles · Updated · The Boston Globe · Jul 9
Summary
$4.7 billion in second-quarter funding put Massachusetts startups back ahead of Texas, which raised $2.3 billion after briefly leading in the first quarter.
A rebound in biotech and AI drove the comeback: Beeline Medicines raised $426 million, Create Medicines $122 million, Suno $400 million and Blitzy $200 million.
$10.2 billion in first-half funding left Massachusetts ahead of Texas' $8.4 billion and up 30% from a year earlier as the VC market continued recovering from its 2022-24 slump.
The reversal matters because Texas had been steadily closing the gap after attracting major tech headquarters; last year Massachusetts led $16.6 billion to $11.7 billion.