NC Startups Raise More than $347 Million in Q1

Things are looking up for startups this year. North Carolina companies raised more than $347 million in the first quarter.

According to the Durham-based Council for Entrepreneurial Development’s report, this was a 105 percent increase from the first quarter in 2016. Forty-five companies received funding in 48 different deals – up thirteen companies from last year.

SmartSky Networks, a Charlotte-based telecommunications startup focused on improving Internet connectivity for airplane passengers, raised $170 million and was mainly responsible for this increase.

This quarter was the highest-grossing quarter since the third quarter of 2015, when startups received $441 million.

– Leah Brown, The North Carolina 100