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Montgomery County saw record investment in 2022

Montgomery County companies had a record year of investment in 2022, with more than $29.9 billion in combined initial public offering (IPO), merger and acquisition, private investment and venture capital deals, according to figures released Tuesday by the Montgomery County Economic Development Authority.

The investment is an increase from $4 billion in 2020 and more than $18 billion in 2021. In all, Montgomery County had 144 deals across 126 companies in 2022.

Venture capital was the most active category in 2022, with more than 60 companies in the county receiving venture capital funding. The investments totaled $867.88 million and were led by a $242.98 million funding round for Robotic Research, known as RRAI.

Arcellx, which began in the county as a startup venture, was the recipient of two funding rounds in 2022, accounting for more than $235 million, which led the IPO category in 2022. The company is now expanding its footprint to Rockville, where it will occupy approximately 60,000 square feet of both lab and office space.