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New York tech startups see jump in funding activity
Startups have flagged their grievances regarding angel tax provision, which they considered was not friendly to them. Photo: iStockphoto
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John McCormick
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Venture-capital firms in 2020 pumped $5.8 billion into New York City enterprise-technology startups, with companies developing risk-management and security, artificial-intelligence and machine-learning, and human-resources technologies among those getting the biggest shares of the investments.
Last year’s investments were up more than 75% from the $3.3 billion VCs put into young New York enterprise-technology firms in 2019, according to a report released Wednesday by enterprise-technology-focused venture-capital firm Work-Bench, which tracks the city’s startups. The number of New York enterprise-tech deals rose to 189 in 2020 from 114 in 2019, according to Work-Bench.
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