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OC Tech and Life Science Fundraising Jumps 85% Y-O-Y
Total funding for tech and life sciences companies in Orange County in the first quarter of 2022 surpassed Q1 2021’s tally by 85%, demonstrating venture capital’s continued interest in innovation industries since later 2021, JLL reported. The quarterly total was $746.7 million.
The lion’s share of Q1 funding came from venture series, which took a $714.7-million slice of the pie, according to JLL. Nearly half of the total funding closed in Q1 went to fintech companies.
With $300 million raised from Bain Capital Ventures and 11 other investors, Acorns closed the largest round of the quarter. Boosted by this latest funding, Acorns’ valuation is now nearly $2 billion.
JLL reported that another notable company that closed funding this quarter is Zuum Technology, a logistics technology platform, which raised $22 million through two rounds of investment and doubled its office footprint in Irvine.
- ◦Financing
