Fundraising efforts by the city's digital health companies suffered in the first quarter amid continuing uncertainty about the future of President Donald Trump's health care policies, said Unity Stoakes, co-founder and president of StartUp Health.
The Manhattan-based accelerator's data arm, StartUp Health Insights, said companies in the metropolitan area raised $57 million in nine funding rounds during the first quarter of the year, less than 10% of the amount raised during the same period in 2016.
Last year's numbers were inflated by large financing rounds from Oscar and Flatiron Health—which raised a combined $575 million in the first three months of 2016.