Plus, meet our 2025 RealLIST Startups and Techstars' newest local cohort.
Newsletter for March 12, 2025 |
| It's the most wonderful time of year: RealLIST Startup season! Technical.ly has a new list of 19 rising startups in Baltimore. Click the link below to meet the AI, medical device and sustainability-focused firms worth watching this year. Outside of this annual series, it's been a busy month for fundraising, grants and cash flow in the region. We have all the latest monetary news for you below, including an $18.5 million raise for a local supply chain tech startup. Plus, Techstars announced the inaugural class of its AI Health Baltimore accelerator with companies from across the US, Canada and Argentina. — Kaela, Technical.ly lead reporter in Baltimore and DC Meet Baltimore's 2025 RealLIST Startups here |
Image of the Day: The first Techstars AI Health Baltimore cohort. (Courtesy UpSurge Baltimore)
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Startup using tech to salvage wood lands 💸 |
Halethorpe’s Cambium helps companies use lumber from trees that would otherwise be trashed, with the help of AI to streamline supply chains. The company has raised $28.5 million following its latest raise. Cambium’s tech tracks the wood at every step through the supply chain. Its platform connects tree care services, sawmills and manufacturers to salvage wood, dubbed “Carbon Smart” wood, plus mass timber and millwork.
That's not the only recent deal of note: Data center tech provider PwrQ is boosting its workforce and manufacturing operations in Maryland, citing the growing demand for data centers. The expansion is in part possible thanks to loans from the state. Continue reading ... |
Meet startups using AI for better healthcare |
Techstars' newest local accelerator, supported by a partnership with Johns Hopkins University and regional insurance provider CareFirst, focuses on startups using AI to tackle issues in various parts of the health and medical system. Founders from across the Western Hemisphere came to Baltimore to work on scaling their companies. Two longtime ecosystem members will guide these startups focusing on improving IVF, cancer detection, mental health services and more. Continue reading ... |
Technical.ly Partner Updates |
| Over the past 18 years, the MSCRF has allocated $208 million in funding to 600 research projects and 41 different entities within the state. |
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📰 News Incubator: What else to know |
• Check out the 19 dynamic startups that we named to our 2025 RealLIST. [Technical.ly] • Johns Hopkins University could lose federal funding over antisemitism claims. The institution is one of 60 colleges, including Harvard and Cornell, facing the Trump administration's warning after Palestinian solidarity protests took place on their campuses. The university is also facing cuts to federal research grants if a rule change regarding capping funding holds. [Baltimore Banner] • VC funding in the late- and growth-stage periods increased for women founders in 2024, while early-stage funding declined. [Technical.ly] • Some government IT services are still disrupted after a cyber incident in Anne Arundel County several weeks ago. The county launched a webpage to assist residents in accessing certain services like paying bills. [Patch/Anne Arundel County] • Emergent BioSolutions, a biotechnology company that faced controversy over millions of ruined COVID-19 vaccines, is selling its drug manufacturing plant in Bayview for $36.5 million. [Baltimore Business Journal/Technical.ly] • Royal Caribbean is relocating one of its ships from the Port of Baltimore to Florida in 2026. [CBS] • Nonprofit United Way granted regional organizations thousands of dollars to carry out "community-centered" projects. One recipient is A Prosperous Tomorrow, which works to advance digital equity. [United Way] • Maryland’s Senate president is anticipating a recession in the state, citing the Trump administration's federal job cuts and Maryland's reliance on federal funds. [Maryland Matters] • An investigation into Baltimore City’s public works department found the agency regularly exposed employees to harm but did not receive a fine. The investigation started after a worker died on the job over the summer. [WYPR] • Irazú Oncology, a biotechnology company developing cancer immunotherapies, landed funding, hired a chief medical officer and expanded its lab space at the University of Maryland BioPark's 4MLK facility. [UM BioPark/Technical.ly] |
🗓️ On the Calendar • Partner event: The Greater Baltimore Committee unveils one of its major strategic initiatives — the Baltimore Region Economic Brand — at a special event in Towson on March 17. [Details here]
• Learn how to master work/life balance at a workshop hosted by Impact Hub Baltimore on March 13. [Details here]
• Loyola University Maryland's Baltipreneurs program will host a demo day for its latest cohort on March 18. [Details here]
• Network at Baltimore Tech Meetup's latest happy hour on March 19. [Details here]
• Johns Hopkins University's School of Medicine is holding an event on March 25 to recognize the innovations created at the university. [Details here]
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