Is Florida Losing Its Startup Spark

Florida experiences a downturn in startup funding, with local startups raising approximately $820 million in 2025. The funding activity predominantly occurs in the Miami metropolitan area, highlighted by significant deals such as Cast AI’s $108 million Series C round, Flow's $100 million, ONE Amazon's $100 million, and ThreatLocker's $60 million. The state faces challenges, including a decrease in successful exits and funding rounds for unicorns, with notable local companies like Reef and Kaseya not securing new investments for years. The cryptocurrency and blockchain sectors show limited activity, with only $21 million in venture funding directed toward these areas. Despite these issues, Florida maintains its appeal to entrepreneurs due to favorable conditions like warm weather and the absence of state income tax.

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