Posted 1/16/2024, 12:26:00 PM
Massachusetts startup funding drops for 2nd year, AI booms
- VC funding to MA startups fell 26% in 2023 to $16B, the 2nd straight year of declines
- Largest MA deals were in biotech (Ascend Elements, $542M) and climate tech (Curie.Bio, $520M)
- 22 MA generative AI startups raised $635M, almost 10x more than 2022
- Generate Biomedicines ($273M) and Zapata AI ($200M) had two of the biggest gen AI deals
- Other gen AI startups focused on video, business analytics, and workplace software