The Wisconsin Technology Council announced recently that Wisconsin companies raised at least $810 million in 2021, a record. 

According to the Tech Council’s annual “Wisconsin Portfolio” report, the 111 angel, venture and venture debt deals also was a record. The figures do not yet account for state investor tax credits, which will be added this spring. 

“Wisconsin continues to attract more angel and venture capital, including money from outside the state, but more work must be done to recognize the state’s full potential,” Tech Council President Tom Still said in a statement.

The report also revealed the average round size was $7.3 million, up from $4.2 million in 2020. Fetch Rewards, SHINE Technologies, VedaData, Redox and DataChat collectively raised approximately $475 million.

Madison-area and Milwaukee-area startups accounted for nearly three-quarters of all deals. Meanwhile, healthcare and IT represented about two-thirds of the total number of investments.