MoneyTree Report: Southern California Q3 Venture Totals Drop To $663.27M

Southern California's venture capital totals dropped significantly in Q3 of 2016, to a mere $663.2M in funding, according to the latest numbers from the PricewaterhouseCoopers MoneyTree report, based on data from Thomson Reuters. According to the report, there were 71 deals worth a total of $663.2M in funding in Q3, down from the much larger, $2.5 billion in funding received in the region in Q2. Q2 fundings in Southern California were much higher, due to a giant $1.27 billion funding round for Snapchat.

The most amount of investment came for the Los Angeles-Long Beach MSA, which saw $247.6M in investments in the quarter, followed by $197.5M for San Diego, then $189.0M in funding in Orange County. Another $28.68M was invested in Santa Barbara-Santa Maria-Lompoc, plus Ventura.

The largest deals for the quarter in Southern California for the quarter were virtual reality developer NextVR, which raised $80M, and also big rounds for mobile game maker Scopely, which raised $55M in a round of funding, as well as Oblong Industries, with a $50M funding for its next generation user interface technology. Carlsbad-based Ostendo Technologies, a developer of solid state lighting raised $41.8M in funding, and Rox Medical, in San Clemente, raised $40M in funding.