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Mass. Start-Up Funding Drops 57% in July

Early-stage companies based in Massachusetts attracted investments worth some $131.4 million in July 2010, a drop of 57 percent compared to the $307 million raised in June. The number of equity deals also dropped, from 31 in June to 26 in July. The Web site Xconomy reported these findings today based on data from the business analytics service CBInsights.

Investors put about half of the funds — nine deals worth $65.9 million — into life science enterprises, including the two largest investments: $24 milion by Euthymics Bioscience and $22 million by Metamark Genetics. Internet companies raised $36.9 million in seven deals, while industrial start-ups drew $12.2 million in four deals. These three categories accounted for 20 of the 26 deals and 88 percent of the funds.

In April and May 2010, early-stage Massachusetts companies attracted about $200 million a month, with life sciences companies leading the sectors in both months.

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