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Wednesday, Mar 27, 2024
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San Diego Startups Raise More Than $300M in Q3

Investments in emerging companies in San Diego were bigger but fewer in number during the third quarter compared to the same time last year.

That’s according to two recently released reports that track such investments, which found differing numbers of deals and amounts, but the same trend.

Dow Jones VentureSource reported 16 equity financings in venture-backed companies totaling $332.6 million in San Diego during the past quarter, compared with 19 deals for $215.6 million in the third quarter of 2016.

The PricewaterhouseCoopers and CB Insights’ MoneyTree report found 24 deals totaling $361 million in the past quarter, compared with 32 deals totaling $303 million in the same quarter of the past year.

According to VentureSource, the largest VC investment in a San Diego-based company in the third quarter was the $114 million Series C round raised by Brain Corp., which offers software that guides autonomous vehicles along a preprogrammed route.

That round was led by SoftBank – which has been on an absolute tear lately deploying funds from its $93 billion Vision Fund, the largest technology investment fund ever – with repeat participation by Qualcomm Ventures.

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