Satellite and analytics company HawkEye 360’s $70 million raise in August pushed the D.C. region and Maryland area to about $246 million in venture funding in the third quarter of 2019 — down from the $309 million local startups had raised during the same time last year.
The new funding means the larger region, which also includes Frederick, Maryland, raised about $762 million in venture capital in the first three quarters of 2019, according to the latest figures from the PwC/CB Insights MoneyTree Report. That is down substantially from the record $1.18 billion raised during the same period in 2018, but still more than the $623 million raised during the first three quarters of 2017, according to the data.
The lackluster quarter was rounded out by large funding rounds from cancer drug company Arcellx, which raised $41.84 million, and cyber firm Trinity Cyber, which raised $23 million. Regenerative medicine startup RoosterBio raised about $15 million, according to the report.
The…Read the full story from the Washington Business Journal.