San Diego companies hit a six-year low for fundraising in 2025. The largest deal of the quarter — San Francisco-based Anthropic’s $14 billion raise — was equal to what every San Diego startup has raised since 2023. It’s not like San Diego companies aren’t integrating AI into life science research; it’s just harder, explained Peter Stockburger, partner at Dentons Venture in San Diego. “There is a shrinking presence of life sciences companies and jobs in San Diego at the moment,” said Eduardo Velasquez, the vice president of economic development and research at the San Diego Economic Development Council. San Diego startups that raised capital this quarterA few San Diego startups proved to investors that they’re worth backing.