Philly's $640M VC windfall

Newsletter for July 11, 2024

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Pitchbook released its quarterly Venture Monitor report today. The report tracks venture capital trends globally, broken down by region. We analyzed Philly's data, and it looks like the area's startup economy is finally starting to stabilize. Also, Philadelphia Police are investigating vandalism at the home of a Ghost Robotics exec and the company’s Penn HQ.

For a lighter read, check out my colleague Holly's story about Geraldo Gonzalez, a Delaware-based artist who uses tech to make art about public transportation. As a public transportation enthusiast myself, I enjoyed learning about Gonzalez's journey.

— Sarah, Technical.ly reporter in Philly

Image of the Day: Ben Franklin Bridge (Sarah Huffman/Technical.ly)
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On July 25, Technical.ly & 1PHL host the next meeting of the City of Philadelphia’s Tech Industry Partnership. The Tech IP aims to connect employers and government to support the region’s tech industry. Want to attend? Interested employers can email aileen@technical.ly for more information.

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$640M in VC poured into Philly last quarter

Companies in the Philadelphia region raised almost $643 million across 100 deals in Q2 2024, according to the latest Venture Monitor report, released quarterly by PitchBook and the National Venture Capital Association.

“While we’ve seen some fluctuation over the past year, the overall trend suggests a stabilizing market," Emily Foote, a partner at venture capital firm Osage Venture Partners, told Technical.ly.

➡️ Check out how this quarter compares to Philly's overall VC trends

Police investigate Ghost Robotics vandalism

Philadelphia police responded to a vandalism incident at the home of a leader at Ghost Robotics. Then, University of Pennsylvania Police responded to a separate vandalism incident the next day at Pennovation Works in Grays Ferry where the company is based.

Ghost Robotics is known for its "robot dogs" or unmanned ground vehicles. The company has recently received criticism after claims that the bots were being deployed in Gaza by the Israel Defense Force.

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📰 News Incubator: What else to know

• The “King of Transit" Geraldo Gonzalez uses tech like Photoshop Lightbox to transform photos of public transportation in Delaware. [Technical.ly]

• Anti-bullying software company Kidas won the Sustainable Esports Initiative Award from the Esports Trade Association. [Kidas]

• Benefits Data Trust is scheduled to shut down on August 24. Leadership sent a note to staff explaining the next steps. [The Inquirer]

• Penn Medicine is implementing an AI-based CT scan analysis system. So far, it has been used for 6,000 scans. [CIO]

• Do you know an exceptional technologist? Nominate them for this year's RealLIST Engineers list in Philly. [Technical.ly]

How Temple is helping students answer ‘limitless questions’ with geospatial data science

The university’s Geography, Environment and Urban Studies Department has several graduate degree options for people interested in GIS.

🗓️ On the Calendar

• Iffy Books is hosting an introduction workshop about Meshtastic on July 12 [Register here]

• Philly Data and AI is hosting its monthly happy hour on July 16. [More details]

Job market: Find your place

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➡️ Search all open jobs and hiring companies

This Week in Jobs: Launch your career into orbit with these 24 open tech roles

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Image of the Day: Ben Franklin Bridge (Sarah Huffman/Technical.ly) Have a photo or chart we should feature here? Hit reply and send in your submission.