PitchBook Report: Miami Ranks Among Top 8 US Cities for Startup Investment

With $900 million raised in Q1, the Miami-Fort Lauderdale region sees a significant jump from previous years, reinforcing its position on the US innovation map. / Photo: Felipe Simo (Unsplash)

Startups based in the Miami-Fort Lauderdale metro area raised $900 million across 67 investment rounds in the first quarter of 2025, according to the latest PitchBook-NVCA Venture Monitor report. The volume positioned South Florida 8th in the nation for capital invested and 9th in number of deals, solidifying the region’s place among the top ten venture capital hubs in the United States.

The performance marks a significant leap compared to previous years and confirms the region’s growing consistency in the American innovation landscape. The average deal size reached $13.4 million, surpassing Q4 2024 and reflecting the increasing presence of later-stage investments. The total accounts for nearly one-third of Florida’s statewide VC funding in Q1, which amounted to $2.77 billion, according to additional insights from eMerge Americas.

According to Bobby Franklin, president of the NVCA, AI investments accounted for 71% of total deal value this quarter. He warns, however, of capital concentration and the growing difficulty many startups face in accessing funding.

Nationally, the study shows the leading regions by investment volume in Q1 2025 were: Bay Area ($6.7B across 658 deals), New York ($7.1B across 441 deals), Austin ($3.4B), Boston ($3.7B), Los Angeles ($2.4B), Seattle ($2.1B), Philadelphia ($1B), Miami ($900M), Chicago ($680M), and Denver ($800M). Beyond these, an additional 1,023 deals took place in emerging markets, totaling $10.9 billion — further reinforcing the growing decentralization of venture capital in the US.

Among South Florida’s Q1 highlights are fintechs such as Flex ($225M) and One Amazon ($105M); agtech company Open Blue Cobia ($98.7M); cleantech and healthtech firms like Ubiquia ($70.6M) and Prosper Health ($16.2M). The data also reveals the growing relevance of emerging verticals such as urban air mobility (Doroni) and decentralized commerce platforms (Crossmint), which are gaining traction among investors.

Despite the sustained growth, the report underscores the lack of major exits— such as acquisitions or IPOs — which could represent a key milestone in the ecosystem’s maturity. For strategic investors, this will remain one of the most important indicators to watch in the upcoming cycles.

STRATEGIC CONNECTIONS TO THE ECOSYSTEM

Miami’s transformation into a global innovation hub hasn’t gone unnoticed by Experience Club US. For the third consecutive year, the club actively participated in Miami Tech Week — one of the city’s most vibrant innovation showcases — bringing together leaders in tech, business, and capital through a decentralized series of events. Early this month, Experience Club hosted an exclusive session with futurist and AI expert Ian Beacraft at the club’s new headquarters in the Moore Building, located in the Miami Design District — combining foresight, curation, and high-level networking.

The club also officially launched the Investment Club, a new initiative that marks a strategic evolution in Experience Club US’s value proposition: giving members access to exclusive, high-potential investment opportunities, many of which are co-invested by fellow members of the ecosystem. The goal is clear: to broaden the impact by connecting smart capital to businesses driven by purpose, strategy, and innovation.

Relatório PitchBook: Miami entra para o top 8 dos investimentos em startups nos EUA

Com US$ 900 milhões captados em Q1, região de Miami-Fort Lauderdale tem salto em relação aos anos anteriores e reforça sua posição no mapa da inovação nos EUA. / Foto: Anahi Martinez (Unsplash)

Startups da região de Miami-Fort Lauderdale levantaram US$ 900 milhões em 67 rodadas de investimento no primeiro trimestre de 2025, segundo o mais recente relatório PitchBook-NVCA Venture Monitor. O volume colocou o Sul da Flórida na 8ª posição nacional em capital investido e na 9ª em número de negócios realizados, consolidando a região entre os dez principais polos de venture capital dos Estados Unidos.

O desempenho representa um salto relevante em relação aos anos anteriores e confirma a consistência da região no mapa da inovação americana. A média por rodada foi de US$ 13,4 milhões, superando o trimestre anterior e refletindo a presença crescente de deals em estágios mais avançados. O valor responde por quase um terço dos US$ 2,77 bilhões investidos em todo o estado da Flórida no período, de acordo com a análise complementar da eMerge Americas.

No panorama nacional, o estudo mostra que as regiões que mais concentraram investimentos no período foram: Bay Area (US$ 6,7 bilhões em 658 deals), Nova York (US$ 7,1 bilhões em 441 deals), Austin (US$ 3,4 bilhões), Boston (US$ 3,7 bilhões), Los Angeles (US$ 2,4 bilhões), Seattle (US$ 2,1 bilhões), Philadelphia (US$ 1 bilhão), Miami (US$ 900 milhões), Chicago (US$ 680 milhões) e Denver (US$ 800 milhões). Além dessas, outras 1.023 operações foram realizadas em centros emergentes, somando US$ 10,9 bilhões — o que reforça a descentralização gradual do capital de risco no país.

Entre os destaques locais de Q1 estão fintechs como a Flex (US$ 225 milhões) e a One Amazon (US$ 105 milhões); a agtech Open Blue Cobia (US$ 98,7 milhões); e empresas de cleantech e healthtech como Ubiquia (US$ 70,6 milhões) e Prosper Health (US$ 16,2 milhões). Os dados também revelam que setores emergentes como mobilidade aérea (Doroni) e software descentralizado (Crossmint) estão ganhando espaço nas carteiras de investidores.

Apesar do crescimento sustentado, o relatório destaca a ausência de grandes exits — como aquisições ou IPOs — que poderiam marcar o amadurecimento definitivo do ecossistema local. Para investidores estratégicos, esse é um dos principais indicadores a serem observados nos próximos ciclos.

Conexões estratégicas com o ecossistema

A transformação de Miami em um centro global de inovação não passa despercebida pelo Experience Club US. Pelo terceiro ano consecutivo, o clube participou ativamente da Miami Tech Week, uma das principais vitrines do ecossistema, reunindo líderes de tecnologia, negócios e capital em eventos descentralizados pela cidade. Em 2025, o Experience promoveu um encontro exclusivo com Ian Beacraft, futurista e especialista em IA, no novo espaço do clube no Moore Building, no Design District — combinando curadoria de conteúdo, foresight e networking de alto nível.

Além disso, o clube lançou oficialmente o Investment Club, iniciativa que marca um novo capítulo na proposta de valor do Experience Club US: apresentar aos membros oportunidades de investimento com alto potencial de retorno, muitas delas em fase de co-investimento por membros do próprio ecossistema. A ideia é ampliar o impacto: conectar capital inteligente a negócios guiados por propósito, estratégia e inovação.

The funding represents nearly a third of 2024’s total, but exits were elusive. We also bring you the state and national trends.

Startups in the Miami metro area got off to a strong start for venture capital in Q1,  according to the Q1 Pitchbook-NVCA Venture Monitor report. Nationally, the Miami-Fort Lauderdale metro retained its position as a top 10 US VC hub. Let’s take a deeper look at local, state, and national trends.

The South Florida picture

For Q1 2024, Pitchbook reported that the Miami-Fort Lauderdale metro area pulled in $900 million across 67 deals. That was nearly on par with a revised $1 billion across 78 deals in Q4, according to Pitchbook’s revised Q4 data. However, the average deal size, at $13.4 million, slightly exceeded Q4.

The total represents a third of the deal value counted for 2024 – $2.77 billion across 358 deals – in the recent eMerge Insights report. 

Q4 top deals: According to Pitchbook’s data, here were the top 10 rounds by companies headquartered in the Miami-Fort Lauderdale metro area in Q1:

• Flex: This early-stage Miami fintech raised $225 million –$25 million in equity financing alongside a $200 million credit facility.

• One Amazon: this later-stage Miami fintech in the life sciences sector raised $105 million.

• Open Blue Cobia: this later-stage agtech company based in Miami raised $98.7 million.

• Ubiquia: This later-stage cleantech company in Fort Lauderdale  raised $70.6 million.

• Sardine: This later-stage Miami-based network management software startup raised $70 million.

• Dorsia: This early-stage foodtech based in Miami, raised $50.4 million.

• SellersFi: This later-stage fintech based in Weston raised $44.8 million.

• Payabli: This later-stage fintech based in Miami raised $32.5 million.

• Doroni: This early-stage flying car maker in Pompano Beach raised $30 million.

• Prosper Health: This early-stage healthtech startup based in Weston raised $16.2 million.

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The Q1 total for South Florida could go significantly higher. Not included by Pitchbook among top deals were sportstech startup Rocket Youth, which scored $100 million; software modernization startup Moderne that raised $30 million; Galatea Bio that raised $25 million; and on-chain ecommerce startup Crossmint that raised $23.6 million, according to Refresh Miami’s reporting.

In Q1 2025, the Miami-Fort Lauderdale metro area ranked 8th nationally by amount of funding and 9th by number of deals. That puts it among the top 10 US tech hubs.