Business

N.C. startups raise 35 percent more funding

North Carolina’s entrepreneurial companies raised more than $622 million in funding 2014, up 35 percent from a year earlier, according to a report issued this week by the Council for Entrepreneurial Development.

That funding was raised through 331 investment deals, a 27 percent increase.

“Looking ahead, we expect this momentum to continue because North Carolina has a strong pipeline of companies that have moved well past the startup stage to what we call ‘scaleups,’” Joan Siefert Rose, CED’s president, said in a prepared statement. CED is a Triangle-based support group for entrepreneurs.

CED’s funding data includes venture capital, investments from other sources such as angel investors and corporations, and government and nonprofit grants and awards.

Altogether, 132 institutional investors plowed money into North Carolina companies last year, versus 108 in 2013.

Technology companies fared especially well by attracting nearly $278 million, more than double the $117 million they raised in 2013. But life science companies had a down year, raising $252 million compared to $275 million in 2013.

The CED data doesn’t include the six initial public offerings of stock by North Carolina companies last year. Those IPOs – all by companies headquartered in the Triangle – raised an additional $728 million.

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