Nineteeen Chattanooga companies raised nearly $30 million from investors in 2015, Launch Tennessee leaders announced Tuesday afternoon.
Overall, the state’s businesses brought in $280 million, which brings aggregate investment in Tennessee startups to more than $945 million since the private-public partnership began tracking investment data in 2012.
Investment activity last year saw a 7 percent increase in aggregate capital raised with an 11 percent jump in investments of more than $3 million.
“The spectacular growth of Tennessee as a center for startup innovation is a testament to the entrepreneurial culture of the region and has been exciting to watch,” Launch Tennessee CEO Charlie Brock said in a prepared statement. “Entrepreneurs and investors alike sent a strong message in 2015 that Tennessee is a fantastic place to launch a new business as we increased our investment total following a record year in 2014.”
At the current investment rate, total capital raised by Tennessee startups will exceed $1 billion early this year, which is ahead of LaunchTN’s target date of 2017.
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