The Greater Austin Chamber of Commerce and Opportunity Austin, in partnership with Dealroom.co, have released a report on Austin’s startup and scaleup ecosystem. The briefing indicates that Austin-based startups raised approximately $5 billion in funding last year, the second highest amount for the Austin region. In 2021, startups raised $5.4 billion.
The Austin region is home to a vibrant tech ecosystem, with a large cohort of rising stars and more than 25 unicorns born across the region. The Austin Chamber and Opportunity Austin work to support this sector's continued to growth.
This report is being published as part of the partnership that the Austin Chamber and Opportunity Austin initiated with Dealroom.co earlier this year to launch a platform to monitor and provide insights on the startup ecosystem in the region.
The report provides additional critical insights into the sectors and businesses attracting the most funding and attention. For example, Austin-based startups are now worth over $128B, an all-time high. A diversified group of industry sectors received 321 funding rounds in 2022, with the bulk of funding in the pre-seed through series B. Leading the way was transportation and real estate, each with $1.1B, respectively, in capital raised.
The report provides some historical insights as well. For example, over the last five years, startups in four industry sectors have led the way in total venture capital investments; Health 13.1%, Proptech 12.5%, Fintech 12%, and Transportation 12%.
You can view more in-depth information about the startup and scaleup community in Austin by visiting the ecosystem.austinchamber.com.
Related Categories: Innovate Austin