The greater Cleveland area's looking a lot like a mega-episode of Shark Tank...minus the smug judges and cringe-worthy pitches. 🦈
Ohio startup companies raised over $500 million in the second quarter of 2022. That's the fourth time the state's raised that amount since 2014! And some of these new companies seem to have a promising future. 🤩
Here’s Five Fast Facts on funding for OH startups:
- 💸 Start Me Up - Startups across the Buckeye state raised $507 million worth of venture capital in the second three months of 2022. The money was spread across 48 separate deals.
- ⚙️ What a Steel - Cleveland-based Felux is flipping the script on metal purchasing. The company is developing a digital marketplace to connect steel buyers with suppliers. They were able to snag $19.5 million.
- ❤️ Map to My Heart - Centerline Biomedical is known for their surgical tech that creates a 3D map of blood vessels and a person’s vascular system, without using radiation. The company received a $33 million round of funding led by the Cleveland Clinic.
- 🔫 Splash The Debt Away - New digital lending platform Splash Financial helps students get better student loan offers and assists with refinancing. They grabbed $10 million in June.
- 🥤 Swanky Bubbles - Eight other companies in Greater Cleveland had funding raising rounds over $1 million, including Smart Soda, the world’s first beverage company to offer vitamin-infused flavored sparkling waters & craft sodas. Cheers!
🔥Bottom line: We love to see business booming in Ohio! New companies means more jobs and more money flowing through the state's economy. Now let's hope they can find the employees to make all this funding worthwhile!
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