January 8, 2021
The amount of capital raised by state technology firms in 2020 was way down from the previous year, but local industry leaders say that shouldn’t be taken as bad news.
After all, the venture and growth capital raised during a year marred by the COVID-19 pandemic still topped what was raised in 2018. And 2021 is setting up to be a strong rebound year, local tech officials said.
In 2020, more than $174 million in funding was announced by Indiana tech companies, according to a report released Tuesday by TechPoint, an Indianapolis-based industry advocacy group and tech accelerator.
That’s below the record $358 million raised by the state’s tech companies in 2019, but ahead of the 2018 total of $147 million.