Funded Startups in Arizona
Arizona's recent funding activity spans a wide range — from sub-$100K community organization grants to EVelution Energy's $200M raise in Yuma, with the 50…
Arizona's recent funding activity spans a wide range — from sub-$100K community organization grants to EVelution Energy's $200M raise in Yuma, with the 50 most recent rounds dated between August 2024 and October 2025. Phoenix dominates by volume, accounting for roughly half the companies in this set across sectors including AI, manufacturing, health care, and financial services. Scottsdale follows as the second most active city, where Phil closed a $60M round in July 2025, Cavan Companies raised $88M in October 2024, and evolvedMD completed a $34M Series B in July 2025.
Health care and financial services each produced multiple large disclosed rounds, while artificial intelligence saw a notable cluster of four Phoenix-area raises — Nuclearn (Series A, $11M), VigilanteX (Seed, $4M), ShiftUp (Seed, $650K), and Zoca (Seed, $6M) — all closing between May and September 2025. Round type labeling skews heavily toward "Series Unknown," reflecting the mix of debt facilities, strategic capital, and non-disclosed structures common in this market.
Most recent rounds
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Frequently asked
What are the largest disclosed rounds among Arizona startups in this dataset?
EVelution Energy (Yuma) raised $200M, Trinity Capital (Phoenix) raised $125M, and Cavan Companies (Scottsdale) raised $88M. Phil in Scottsdale disclosed $60M, Pyx Health in Tucson raised $48M, and both GT Medical Technologies (Tempe, Series D) and RunBuggy (Phoenix, Series B) each closed $37M rounds.
Which Arizona cities are generating the most funding activity?
Phoenix accounts for roughly half the companies in this set and spans every sector from AI to manufacturing to financial services. Scottsdale is the second most represented city, home to several of the larger rounds including Phil, Cavan Companies, and evolvedMD. Tempe and Tucson each contribute a cluster of companies, while Yuma and Flagstaff each appear once.
Which sectors are most active in Arizona's recent funding rounds?
Health care has the most entries, with companies including evolvedMD, Pyx Health, GT Medical Technologies, and LiteraSeed spread across Phoenix, Scottsdale, Tempe, and Tucson. Financial services produced three of the top-ten largest disclosed rounds — Trinity Capital ($125M), Cavan Companies ($88M), and RRA Capital ($27M). AI and biotechnology each account for four companies apiece.
How concentrated is AI funding activity in Arizona, and when did it cluster?
Four AI companies — Nuclearn, VigilanteX, ShiftUp, and Zoca — all raised rounds between May and September 2025, and all are based in the Phoenix metro (Phoenix and Tempe). Disclosed amounts range from $650K (ShiftUp seed) to $11M (Nuclearn Series A), suggesting early-to-mid stage activity rather than late-stage growth rounds.
What does seed-stage deal flow look like in Arizona?
Eight seed rounds appear in this dataset. The largest are Zoca ($6M, Phoenix), Toothio ($5M, Scottsdale), and Supersede ($5M, Phoenix). Several fall well below $1M — Magic Cactus ($280K, Scottsdale) and RegenAesthetics ($550K, Flagstaff) are at the lower end. Seed activity spans sectors including AI, manufacturing, administrative services, and consumer goods.
How significant is the Series Unknown classification in this dataset, and what does it mean for research?
The majority of rounds in this set carry a "Series Unknown" label, which typically reflects debt facilities, strategic investments, secondary transactions, or rounds where the structure was not publicly disclosed. This is common among mature private companies like AudioEye ($30M), Offerpad ($6M), and Pyx Health ($48M). Sales and investment researchers should treat these as confirmed capital events but verify structure through additional diligence.
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