Record Funding Invested in MoCo Companies in Q1-Q3

See the full list of investments in Montgomery County companies here.

“Xometry is proud to be an industry leader in manufacturing on demand and proud to call Montgomery County our home,” said Randy Altschuler, CEO and co-founder of Xometry. “We will continue to invest in the technology and talent we need to realize our vision of democratizing manufacturing.”

“With this new investment, Arcellx is poised to elevate the field of cell therapy by advancing our novel technology to benefit patients and their care teams,” said Rami Elghandour, Chairman and CEO of Arcellx. “We appreciate the support of our new and existing investors and look forward to expanding our corporate presence in Gaithersburg and continuing to recruit a diverse team to help accelerate our mission and deliver on the promise of our unique technology.”

“Our latest funding round demonstrates the belief that value-based care led by independent primary care, embracing risk, is the right path forward for American health care. The new capital will support our continued growth as we work with all kinds of payers to help more primary care physicians deliver better health outcomes for patients,” said Farzad Mostashari, M.D., CEO and co-founder of Aledade. “By being headquartered in Bethesda, we can be part of the conversation with legislators, regulators and policymakers to advocate on behalf of independent primary care providers, and our location enables us to source incredible talent from the thriving DC metro area community.”

“The blistering pace of capital investments in Montgomery County companies would be significant at any time but is especially remarkable during a pandemic and a period of great global economic uncertainty,” said Benjamin H. Wu, MCEDC President and CEO. “The recent funding surge is a testament to our local companies and investors recognizing the abundance of assets and paths to success here. This announcement is another positive indicator that our innovation-led economy is resilient and heading towards a full recovery.”

The climate in Montgomery County is highly conducive to company growth in life sciences, tech and other leading industries. The assets that draw companies and investment to Montgomery County, ‘The Immunology Capital Next to the Nation’s Capital,’ include a top educated workforce with 59% of adults over 25 holding a bachelor’s degree or higher, while the state is top ranked in the concentration of STEM jobs. Home to 18 federal agency headquarters including NIH, FDA and NIST, the County has been working to enhance the business climate with initiatives like the new Speed-to-Market, which improves efficiencies in the planning and permitting phases.