With investments exceeding $5 billion year to date, America’s best-educated city is on pace to be the East Coast’s top-performing startup hub this year. In 2018 Boston startups have raised about 15% more than those based in NYC.
According to an article published by TechCrunch earlier this month, Boston startups are seeing the benefits of larger and larger funding rounds. So far in 2018, at least 15 Boston-based companies have seen funding rounds of $100 million or more, compared to 12 in all of 2017.
Boston’s notoriously strong biotech sector continues to play a big role in that success. PillPack, an online prescription drug service, was acquired by Amazon for $1 billion back in June. As the home of MIT, Boston is known as something of a natural leader in tech-centric and “deep tech” markets. The Boston Globe reported this week that 2018 is shaping up to be the most robust year for biotech IPOs since 2014.
Boston is home to some exciting opportunities in the clean tech sector as well. Power2Peer is one such startup seeking investment in order to turn our green vision into a sustainable and profitable reality. By creating a blockchain-enabled adaptive solar microgrid network, Power2Peer is bringing more affordable and more reliable power to the people. Recent research predicts that the market for microgrid-related business will grow from $22.2 billion to $39.1 billion between 2018 and 2023.