2024 1H Insights Report

2024 1H Insights Report

Across the state, Florida continues to demonstrate remarkable strength throughout the first half of this year. Venture capital activity held up impressively, placing our state as the 5th in the nation in deal count. If the current pace holds, Florida will likely see its third strongest year for deal count and will likely exceed last year’s deal value.

Here are some key insights from the report:

• Nationally, Florida ranked No. 5 for deal count and No. 7 for deal value.
• Florida-based companies attracted over $2.1 billion across 332 deals in 1H 2024, ahead of last year’s pace.
• Statewide, tech hubs posted notable numbers in 1H 2024. Startups in Orlando’s ecosystem took in $172.6 million, startups in the Space Coast took in $90.8 million, and startups in the Tampa area raised $86.9 million, according to Pitchbook.
• Startups in the South Florida metro area claimed the lion’s share of the activity with 65% of Florida’s total venture capital dollars and 60% of the state’s deals.
• $1.37 billion was invested in South Florida startups and later-stage companies across 199 deals in the first half of 2024, putting the region on track to meet or exceed last year’s $2.4 billion total.
• Miami outperformed Austin and Seattle by a small margin, driven largely by robust seed-stage activity.
• Financial technology (fintech) remained the most active sector, with $408 million invested across 47 deals, while medtech was close behind, securing $378 million and already surpassing the full-year 2023 total. 
• Congratulations to Insightec, which has secured the largest funding round of the year thus far. Insightec, a medtech innovator, has raised a $150 million round led by Fidelity Management & Research, Nexus Neurotech Ventures, and Ally Bridge Group, among others.

Thank you to the incredible eMerge Americas team, as well as our editor Nancy Dahlberg and our research partners at Northeastern University for their dedication to producing this insightful analysis of our ecosystem.