Seattle-area startups raise $3.5B, setting a new quarterly record

Seattle-area startups pulled in $3.5 billion in venture capital last quarter—their biggest haul in at least a decade, more than tripling the amount raised a year ago. Most of the funding went to a few companies building rockets, satellites, and fusion power plants, with three local space firms landing $1.6 billion combined. This bucks the national trend, where venture funding dropped 40%.

• Q3 funding hit $3.5 billion for Seattle-area startups
• That's over three times last year's third-quarter total
• Three local space companies raised $1.6 billion together
• Seattle ranked 7th nationally for VC dollars this quarter
• National startup funding fell 40% compared to last quarter