Monday, March 31, 2025

March 31, 2025 • Estimated Reading Time: 10 minutes

Monday, March 31, 2025 

In today’s digest, Brooklyn real estate is hot, you can outdoor-dine a lot, and NYC healthtech company alums are calling the shot(s). 💉

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  • Enjoyed the weekend weather but sad there was no place to eat outside? Don’t fret, al fresco dining season kicks off tomorrow, and NYC DOT has approved 2,400 outdoor-dining permits. (New York Post) 

    • DOT has approved 80% of sidewalk dining outdoor applications and 600 out of 1,178 street dining applications. However, only a few businesses have received outdoor liquor licenses, meaning it could be a dry summer for restaurants. 🍴

  • If you’re looking for a new home, Central Brooklyn is the place to be, according to real estate firm Redfin. Clinton Hill and Prospect Park top the list of “hottest neighborhoods,” with the 11238 ZIP code seeing a 105% jump in home sales in the first two months of 2025, the highest in the country. 🏠 (Crain’s New York Business)

  • It’s finally here: NYC’s 40th annual April Fools’ day parade! Officials say to “expect the unexpected,” and attendees are encouraged to take part by creating outrageous floats, dressing up as look-alikes, or coming decked out in costume. (amNY)

    • The parade kicks off tomorrow at noon from 5th Avenue and 59th Street, marching down to Washington Square Park.

    • Check out this link for more info.  

In other reading:

  • One of the biggest chef conferences in the country is coming to New York (Eater NY)

  • After fasting for Ramadan, only doughnuts will do (New York Times)

➕ Applications are open for Decoded Futures at the Tech:NYC Foundation — our no-cost, seven-week program designed for NYC nonprofits looking to use AI to scale their impact.

New York’s digital health scene didn’t just appear — it was built. And now, it’s thriving.

A new report from (Tech:NYC member) Index Ventures maps out how a handful of pioneering companies — Oscar, Flatiron Health, Ro, and Thirty Madison — laid the foundation for what’s become one of the most vibrant and interconnected healthtech ecosystems in the country.

🧬 Let’s talk lineage:

  • Oscar (also a Tech:NYC member) didn’t just reimagine health insurance — it trained a generation of operators who now lead startups like Alma, Pearl, and Tomorrow Health.

    • "We always told people that the only good reason to leave Oscar is to start a company,” said Mario Schlosser of Oscar Health. 

  • Flatiron Health (yup, another Tech:NYC member) acquired by Roche for $1.9 billion in 2018, became a launchpad for data-driven cancer care and seeded talent across the clinical tech space.

  • Ro (you guessed it, a Tech:NYC member) brought vertically integrated care online, with its alumni now running companies like Allara.

  • Thirty Madison, focused on chronic care, has been a proving ground for repeat founders and early-stage builders alike.

This isn’t just anecdotal. The network is deep — alumni share angel checks, talent pipelines, and even co-founders. 

💸 The numbers tell the story:

  • In 2024, NYC’s digital health companies raised $4 billion across 113 firms — up 60% from 2023, and the strongest year since the pandemic.

  • That capital is flowing into everything from mental health and chronic care to AI-powered diagnostics and back-end infrastructure.

🏙️ Why NYC?

  • Dense hospital networks and top-tier academic medical centers.

  • Diverse patient populations that make it a real-world testing ground.

  • A growing base of repeat founders and funders who are staying local.

🔦 Tech:NYC called it early: We made digital health a key pillar of our Startup:NYC initiative because we saw the potential. And the momentum isn’t slowing down.

What’s next? With more and more talent movement among new companies, and pushes from key industry players, alumni networks are expected to get even stronger. 💪

👀 One legislative thing: While digital health is thriving in New York, one thing we have been closely watching is the New York Health Information Privacy Act (NYHIPA). While the policy is well-intentioned, NYHIPA's scope and broad definitions threaten the viability of the existing digital health ecosystem, as well as the future growth of the sector. 

  • If you have questions about this legislation, reach out to Alex, our Director of Government Relations here. 

In other reading:

  • Are you smarter than AI? (New York Times)

  • Vycarb aims to remove carbon from the East River while making it more habitable to life (Tech Brew)

  • ChatGPT’s projects feature brings order to your AI chaos (Wired)

  • Chord Commerce, an NYC-based customer data platform for commerce brands, raised $5.5 million in funding. M13 led the round and was joined by Act One Ventures and GR0 Capital.

  • DeepIP, an NYC- and Paris-based AI-powered patent assistant for IP professionals, raised $15 million in Series A funding. Resonance led the round and was joined by Headline, Serena Capital, and Balderton Capital.

  • Kay.ai, an NYC-based AI-powered data entry agent for insurance operations, raised $3 million in funding. Wing VC led the round and was joined by South Park Commons, 101 Weston Labs, and angel investors.

  • SplxAI, an NYC-based offensive security for agentic AI firm, raised $7 million in funding led by LAUNCHub Ventures.

  • Sohar Health, an NYC-based AI-powered insurance eligibility verification provider, raised $3.8 million in seed funding. Kindred Capital led the round and was joined by Y Combinator, Rebel Fund, and Concept Ventures.

  • April 1: How I Raised My Series A, featuring founders who recently secured funding who will share what worked, what didn’t, and the challenges they faced. Register here.

  • May 1-2: Designing for Older Adults with Cognitive Impairment, a workshop exploring how each stage of the design process can be adapted to include older adults with a range of cognitive abilities. Register here by April 1.

  • April 2-3: Smart City Expo USA, featuring the CEOs of the Miami Dolphins, Paris 2024 Olympics, TONOMOUS.NEOM, five FIFA World Cup 2026 Host Cities, and Tech:NYC’s very own Julie Samuels! Register with promo code TECHNYC20 here.

  • April 3: Leading Product Strategy as a Founder, a workshop focusing on product processes customized for lean startup teams that will make your team more efficient and strategic. Register here.

  • April 3: Software’s Agentic Future, a Deep Tech Week panel discussion and fireside chat on the emergence of coding agents and their impact on software development. Register here.
     

  • April 8: #NotAPitch, to get feedback on concepts, prototypes, and ideas without it counting as a pitch. Register here.

  • April 10: GenAI Collective Demo Night, where eight startups will showcase their products. Register here.

  • April 27: hackNY Spring, a one-day conference for early to mid-career developers who want to level up in tech. Register here.

  • April 29: Latest & Greatest from Jonathan Frankle, an AI Review talk from the Chief AI Scientist at Databricks on his latest research on the newest AI methods. Register here. 

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