Two Oregon Startups: According to the findings, there are probably a number of Oregon start-up companies that are pleased with the outcomes. Pitchbook examined the percent change in deal activity, deal count, and median value in 11 different VC-backed sectors to establish “rising tech champions and laggards.”The areas of health technology and climate technology, two areas in which Oregon has a significant presence, were among the top leaders.
Two Oregon Startup Specialisations Outperformed
The battery manufacturer ZincFive, based in Tualatin, was a standout in the latter category, collecting $54 million in a Series D round of funding. Tim Hysell, the CEO of the company, was quoted in the Business Journal as saying that the investment might be the precursor to “some pretty important things that could happen… as early as 2023.”
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In addition to ZincFive, the area is home to a growing cluster of battery and energy storage firms such as Powin, ESS, Entek, and GridStor, a grid-scale energy storage company. These companies are all located in this vicinity. Goldman Sachs Asset Management, which has amassed more than 400 million dollars for a fund to support the Oregon company GridStor, is one of the company’s investors.
Oregon specialties fared well in this Pitchbook list on the performance of these VC-backed sectors. https://t.co/tj9WmXdYuo
— Portland Business Journal (@PDXBIZJournal) December 27, 2022
Additionally, Oregon excels in the venture capital-backed health technology sector. As evidence, you need not go any farther than the most recent list of promising new businesses published in the Business Journal. Three of the highlighted firms, Birch Biosciences, Skip, the producer of a cancer detection system, and Ondr, the maker of leakproof underwear, are all involved in the health technology sector.
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They join other firms in the health technology industry that the PBJ has covered in 2022, including the digital healthcare company Boulder Care, which raised $37 million the previous year, and the cancer risk assessment startup Gabbi, which raised $4.4 million.
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