It was a record-setting year for venture-backed Greater Cincinnati startups in 2021 as the region nearly quadrupled its fundraising totals from the previous year — led by a pair of headline-grabbing, nine-figure blockbuster deals.
80 Acres Farms and CinCor Pharma, respectively, raised nearly half of the region’s more than $650 million in capital in 2021. That shatters previous year tallies, including 2019 when local companies brought in $347 million in VC cash, according to Cintrifuse director of startups John Stieger.
Compare that to a Covid-laden 2020, when local startups raised $187 million, and it’s about a 248% gain year-over-year. There are even some last-minute deals still looking to close before the year’s end, Stieger said.
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Story excerpt provided by Cincy Inno.
Written by Liz Engel.
Originally published December 29, 2021.