A quiet spell for venture funding in Seattle still yielded a handful of impressive rounds last month. Tech companies building blockchain solutions, health-focused software and other innovations were backed with fresh capital to further their work. Read on to learn which five local companies secured the largest tech funding rounds in March.
Largest Seattle Funding Rounds, March 2023
- EigenLayer
- Modern Electron
- Starfish Space
- Aiberry
- Oleria
#4 (tied). $8 million, March 21
Cybersecurity company Oleria is spearheaded by former executives from JumpCloud and Salesforce. Its autonomous platform aims to make it easier for scaling organizations to streamline access management operations. Oleria emerged from stealth last month with a total of $8 million in funding.
#4 (tied). $8 million, March 8
Serving mental health providers, Seattle startup Aiberry equips customers with artificial intelligence software that can analyze a person’s statements, speech patterns and facial expressions. These findings, according to the company, can help providers diagnose mental health conditions. Confluence Capital Group led Aiberry’s $8 million seed funding round.
#3. $14 million, March 8
Backed by a range of investors, including Series A leader Munich Re Ventures, Starfish Space is building spacecraft tech that can help boost satellites’ orbits or safely dispose of satellites. Starfish Space’s latest capital raise will help it finish developing a small prototype vehicle called Otter Pup, as well as a full-size Otter spacecraft.
#2. $32.8 million, March 28
Headquartered in Bothell, Modern Electron decarbonizes natural gas with its manufactured hydrogen generators. The heating company works with gas utilities, manufacturers and biogas producers. Modern Electron is backed by investors including Microsoft co-founder Bill Gates, and its latest $32.8 million round of funding follows a $30 million round back in December 2021.
#1. $50 million, March 28
Operating in the cryptocurrency sector, blockchain company EigenLayer developed a staking protocol solution. The company announced a Series A round led by Blockchain Capital late last month. EigenLayer plans to use the funds to launch the initial version of its protocol. Hoping to make it easier to improve blockchain infrastructure, the launch will take place in phases over the course of 2023.
