Funded Startups in Baltimore
Baltimore's 50 most recent funded rounds span a roughly two-year window from late 2023 through late 2025, with biotechnology and health care companies maki…
Baltimore's 50 most recent funded rounds span a roughly two-year window from late 2023 through late 2025, with biotechnology and health care companies making up the densest share of activity. The largest disclosed round is Dominion Financial Services at $150M (April 2025), followed by Capital Funding Group at $51M (April 2025) and Rapafusyn Pharmaceuticals at $28M Series A (June 2024). Biotech deals are distributed across the full period — Sonavex, CoapTech, Irazu Oncology, and Somnair all closed rounds between 2024 and mid-2025, while b.well Connected Health and Previse added undisclosed and $2M rounds respectively in late 2024 and early 2025.
Seed activity intensified through 2025, with Synaptic ($5M, June), Somnair ($4M, July), and Kubanda Cryotherapy ($500K, September) among the notable early-stage closes. A cluster of eight companies — including Kalocyte, FlaveApp, and Drio — each show a $10K round dated August 23, 2023, which appears to reflect a cohort grant program rather than independent venture financings. Financial services rounds, though fewer in count, skew large: Dominion Financial Services, Capital Funding Group, and Facet ($25M, October 2024) account for the highest disclosed dollar amounts in any single sector.
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Frequently asked
What are the largest disclosed rounds among Baltimore startups in this dataset?
Dominion Financial Services leads with $150M (April 2025), followed by Capital Funding Group at $51M (April 2025) and Rapafusyn Pharmaceuticals at $28M Series A (June 2024). Facet (financial services) also raised $25M in October 2024, making financial services the highest-dollar sector by total disclosed amount in this set.
Which sectors account for the most funding activity in Baltimore?
Biotechnology and health care together represent roughly half the companies across these 50 rows, including Sonavex, CoapTech, Irazu Oncology, Forte, and Somnair. Financial services is the next most significant sector by disclosed dollar volume, driven primarily by Dominion Financial Services and Capital Funding Group.
What does the typical seed round look like for Baltimore startups?
Seed rounds in this dataset range from $500K — raised by both Kubanda Cryotherapy (September 2025) and Astek Diagnostics (June 2025) — up to $5M for Synaptic (June 2025). Somnair raised $4M at seed in July 2025 and Pantheon Vision raised $2M at seed in April 2024, suggesting a broad but skewed range with most early-stage closes between $500K and $5M.
How many Series A rounds appear in this Baltimore dataset, and which companies closed them?
Four Series A rounds appear: Qualytics ($10M, June 2025), Cerebro Capital (undisclosed, May 2025), Sonavex ($15M, October 2024), and Rapafusyn Pharmaceuticals ($28M, June 2024). Three of the four involve biotech or health care companies, consistent with the broader sector weight in this set.
What explains the cluster of $10K rounds all dated August 23, 2023?
Eight companies — including Kalocyte, FlaveApp, Drio, Fit Tribe Wellness, and Arch Systems — each show a $10K raise with an identical date of August 23, 2023. The uniform amount and date strongly indicate a cohort-based grant or accelerator program rather than individually negotiated venture rounds.
How current is the funding activity shown for Baltimore?
The most recent entry is BC3 Technologies (healthcare), which closed a $1M venture round on November 29, 2025. Kubanda Cryotherapy also closed a $500K seed in September 2025, and five other rounds — including Synaptic and Somnair — are dated between June and August 2025.
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