Typical seed round size for biotech startups in Bay Area
Based on 32 Form D filings by Bay Area biotech issuers at seed stage, filed Nov 2024 – Oct 2026. Updated monthly. Change any segment to compare.
The numbers
- Median seed raise: $3.9M
- Middle half of rounds: $2.1M – $7.6M
- Filings in sample: 32
- Rounds under $1M: 9%
- Rounds over $5M: 38%
- Updated Oct 2026
Read this number carefully
Form D undercounts small SAFE rounds and rounds that rely on other exemptions. Treat the median as a ceiling for "typical", not a target.
Compare segments
Biotech · Seed · Boston ($4.2M)
Biotech · Seed · San Diego ($1.9M)