A new report on Pittsburgh's tech industry showed four tech firms in the area raised at least $10 million in venture capital in the second quarter, pushing the regional total to $60 million among 21 companies.
The report - assembled by PricewaterhouseCoopers and the National Venture Capital Association - showed the raised capital is more than double from one year ago and follows a national trend of fewer deals with higher capital, the Pittsburgh Business Times reports.
Storage network solution provider Avere Systems raised the most venture capital - $15.2 million from Menlo Ventures and Norwest Venture. The deal was just slightly larger than the one brokered with biopharmaceutical company Complexa, which raised approximately $13.4 million from Jafco Co. and another undisclosed investor.
Lung-device technology company ALung Technologies raised $10.01 million in a deal with an undisclosed investor, coming in just ahead of a deal with restaurant mobile technology firm NoWait, which secured $10 million in capital, according to the Pittsburgh Business Times.
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