PITTSBURGH — The final three months of 2023 were the best by far for big capital raises by Pittsburgh-area tech companies, as per PitchBook data. In fact, five of the nine funding rounds that were at least $10 million were reported during the fourth quarter, and that includes the largest of the year.
PitchBook listed Gecko Robotics as raising $173 million. In early December, Gecko confirmed $100 million had been added and said it was an extension to its initial $73 million Series C round in March 2022. Either way, Gecko garnered the biggest investment of any Pittsburgh company in 2023. Founded in 2013, the developer of robots capable of climbing critical infrastructure components said its total outside investment now tops $222 million.
For full-year 2023, an aggregate $513.57 million was invested in 77 local companies. But dollars and deals lagged 2022, when $764.25 million was plugged into 117. And more than half of the 2023 total came from the $340.46 million raised during the final three months of 2023.
Read more on the Pittsburgh Business Times
Download the FREE WPXI News app for breaking news alerts.
Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
TRENDING NOW:
©2024 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/XCUXZC2XYZHCRGNNGKFEX6U3LQ.png)
