12-Month US Startup Fundraising Trends

Source: Carta

Carta released the data on startup investment distribution across different regions and states in the US over the past 12 months (Q2 2023 to Q1 2024).

Here's a breakdown of startup fundraising by state...

1. California :: 44.95%

2. Massachusetts :: 12.71%

3. New York :: 10.31%

4. Texas :: 4.67%

5. Florida :: 3.99%

6. Washington :: 2.61%

7. Colorado :: 2.47%

8. Nevada :: 1.97%

9. New Jersey :: 1.84%

10. Ohio :: 1.45%

11. Maryland :: 1.26%

12. Pennsylvania :: 1.25%

13. Georgia :: 1.16%

14. Michigan :: 0.84%

15. North Carolina :: 0.83%

16. Virginia :: 0.77%

17. Minnesota :: 0.93%

18. Illinois :: 1.68%

19. Arizona :: 0.47%

20. Utah :: 0.63%

21. Oregon :: 0.21%

22. Tennessee :: 0.53%

23. District of Columbia :: 0.60%

24. Wisconsin :: 0.32%

25. Indiana :: 0.21%

26. South Carolina :: 0.08%

27. Alabama :: 0.13%

28. Kentucky :: 0.05%

29. Missouri :: 0.20%

30. Connecticut :: 0.26%

31. West Virginia :: 0.05%

32. New Hampshire :: 0.18%

33. Montana :: 0.06%

34. Wyoming :: 0.06%

35. Nebraska :: 0.05%

36. Iowa :: 0.10%

37. Maine :: 0.05%

38. Idaho :: 0.05%

39. New Mexico :: 0.08%

Startups in 12 states (since DC is included above) saw no VC fundraising.