As traders proceed to pour cash into AI startups within the U.S., Seattle ranks fourth within the nation in AI funding, in accordance with new information from monetary tech firm Carta.
In a rating of 10 metro areas, throughout seven sectors that additionally contains SaaS, {hardware}, biotech, well being tech, fintech and client, Seattle’s startup ecosystem accounts for five.1% of AI-related funding.
The quantity is a small piece of the AI startup pie that’s principally consumed by California’s Bay Space, which gobbles up 51% of funding. New York (11%) and Boston (5.5%) are additionally forward of Seattle.
Seattle ranks sixth total with 3.9% or $3.46 billion of the $104 billion invested into U.S. startups on Carta between the third quarter of 2024 and the second quarter of this 12 months.
Within the classes apart from AI, Seattle is No. 3 in SaaS (5%), No. 7 in {hardware} (2%), No. 5 in biotech (3.8%), No. 9 in well being tech (3.1%), and never within the high 10 in fintech or client.
Seattle is making an attempt to maintain up within the race to lure and/or retain AI corporations and investor {dollars}. Regardless of the hype across the area as a significant AI hub, there aren’t any Seattle-area corporations listed among the many high 100 AI startup funding offers to date this 12 months, in accordance with PitchBook.
However given the density of Seattle-area engineering expertise that’s essential to constructing corporations within the burgeoning period of synthetic intelligence, entrepreneurs, traders, and startup leaders stay optimistic that town’s greatest AI days are forward.
The brand new rating information comes from Carta’s platform, which is utilized by startups to handle their cap tables.
San Francisco-based Carta, which employs about 135 individuals within the Seattle area, not too long ago moved into new workplace area within the Columbia Middle downtown, occupying 23,500 sq. ft.
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