NCN commits to $70M fund | Pittsburgh has huge first quarter

What is fueling Flyover Country innovation? In this weekly feature, we share a variety of announcements covering funding, acquisitions, exits, grants and everything in between. Got something to celebrate? Click here to share your story.

NCN commits $70M

NASHVILLE, TN—The Nashville Capital Network (NCN), a collection of more than 100 investors boasting ties to some of the city’s most prominent homegrown business successes, has committed more than $70 million to its newest fund. The NCN includes founders and executives from some of Tennessee’s most successful companies.

Pittsburgh rakes in $242.67M in first quarter

PITTSBURGH, PA—In just the first three months of the year, the city of Pittsburgh brought in $242.67 million of VC funding across 19 deals. That dollar amount is more than the city raked in across the first three quarters of 2021, indicating a potential new surge in capital for Pittsburgh tech.

ClimeCo raises $50M

BOYERTOWN, PA—ClimeCo, a startup focused on developing and trading environmental commodities, raised $50 million in a funding round that was backed by The Heritage Group and Warburg Pincus. The financing will be used to fund corporate and project-level growth initiatives.

NASA funds more work on portable magnetic field

MADISON, WI–University of Wisconsin-Madison researchers are trying to figure out a way to shield astronauts from radiation particles as they make their way deeper into the solar system. The research team has received funding from NASA to keep working on their concept — a portable magnetic field that can deflect radiation from a spacecraft.