Berwick Startups Raise $620 Million as AI Demand Surges This Quarter

Berwick startups raised $620 million across 47 deals in the first half of 2026, according to the Berwick Venture Report released July 10 by the city’s economic development office.

The surge follows a 38 percent jump from the same period last year and comes as companies seek capital to scale amid rising energy costs tied to the Strait of Hormuz closure. Investors have focused on firms that cut operational expenses for logistics and manufacturing clients, sectors hit hard by the recent shipping delays.

Deals closed at two Berwick hubs

QuantumForge, an AI firm based at the Berwick Innovation Center on Main Street, secured $120 million in a Series C round led by a New York fund. The company plans to expand its 180-person team at the center, which sits two blocks from the riverfront ferry terminal. Meanwhile, logistics startup RouteOpt closed $85 million at Venture Labs in Harbor Plaza, a converted warehouse complex on 12th Street that hosts weekly pitch nights every Thursday.

Both locations fall under the Berwick Tech Alliance program, which offers discounted office space and introductions to local limited partners. RouteOpt now serves 14 clients along the port corridor, where fuel-price volatility has pushed demand for its routing algorithms.

Next steps for founders

Companies seeking similar capital should submit applications to the Berwick Accelerator by August 15 for its fall cohort, which provides $250,000 checks and six months of mentorship at the Old Town facility. The program has graduated 92 firms since 2023, with 41 percent later raising follow-on rounds above $10 million. Local banks have also launched a $50 million co-investment pool open to Alliance members through year-end.