Folio Photonics leads Northeast Ohio startup fundraising in Q2 with $8M raise

Folio Photonics Inc. led fundraising by Northeast Ohio startups in the second quarter, according to the latest Venture Monitor.

The second-quarter report by PitchBook and the National Venture Capital Association shows a K-shaped venture market setting records at the top — including SpaceX’s $1.7 trillion IPO in June — while contracting elsewhere.

As a result, U.S. startups raised a historic $412.7 billion in the first half of 2026, driven heavily by a few massive, artificial intelligence-related mega-rounds, according to the report. However, early-stage and smaller funding segments shrank during the quarter.

In Northeast Ohio, top VC deals raised nearly $21 million during the recent quarter, Venture Monitor reported.

This article first appeared in Cleveland Business Journal on July 9, 2026.