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Next-generation technology developers in cloud database services, machine and deep learning, cybersecurity and edge computing were among the companies reporting new rounds of funding.
Follow The Money
As economic uncertainty continues, the amount of venture capital flowing to IT startups in the summer of 2022 seems to be drying up faster than Lake Mead. Fewer companies are reporting new funding rounds right now. And where funding hauls of $100 million or more were relatively common just one year ago, most rounds today are far below that threshold.
Some companies, however, continue to have success in raising new capital to fund their growth as we see in the Follow the Money roundup of companies that raised funding in July.
As has been true for the last couple of years companies developing leading-edge technology in cybersecurity (Bishop Fox and Swimlane) and big data (SingleStore and Neon) account for a disproportionate share of the companies pulling in venture funding in the July list.
But the July list also includes companies in the machine learning and deep learning space (Tecton and Deci), providers of edge computing technology (Scale Computing and Zededa), and developers of next-generation transistors (Finwave Semiconductor) and application delivery network technology (Fly.io).
One notable shift: A greater number of the companies on the July Follow the Money list have been around for a while. Bishop Fox was founded in 2005, for example, while Scale Computing launched in 2007. SingleStore was founded in 2011, Finwave Semiconductor in 2012 and Swimlane in 2014. Others making the list were founded between 2016 and 2019. Only database-as-a-service developer Neon, founded in 2021, is a recent startup.
Here’s a look at 10 companies that raised funding in July 2022.