A handful of companies across Eastern Washington and North Idaho have raised millions of dollars in recent months, with the majority of funding falling outside the traditional angel- or venture-backed technology, health care, and consumer industries.

From January through March this year, five Inland Northwest companies have collectively raised $10.7 million, according to information from Seattle-based proprietary data market platform PitchBook Data Inc. However, the majority of that funding has come through private stock sales, rather than large venture capital rounds typically associated with startup growth.

Two Coeur d’Alene-based mining companies make up the lion’s share of the total, raising $9.7 million through private placements, which involve selling shares directly to investors.

In January, mineral exploration company Scout Discoveries Corp. closed on a $6 million nonbrokered private placement at $1.50 per share, the company announced in a press release. The proceeds will support continued exploration, including drilling, target definition, the advancement of current projects, and general corporate purposes.

In February, a U.S.-focused precious metals company, Star Gold Corp., announced the closing of $3.7 million raised through a nonbrokered private placement offering. Star Gold sold 91.95 million units at 4 cents per share.

The company intends to use the proceeds to fund mine development and exploration activities at its Longstreet gold-silver project in Nevada, which spans approximately 2,600 acres and is comprised of 137 unpatented mining claims and five patented claims. Proceeds also will be used to advance technical work for an Environmental Impact Statement and permitting for the Longstreet main mine, and to initiate drilling activities, according to a press release.

The U.S. is currently ramping up mineral mining activities to meet the booming demand of key critical minerals such as lithium, cobalt, and other rare earth elements, according to the World Resources Institute. The demand is driven in part by a rise of clean energy technologies, including electric vehicles, utility-scale energy storage, and solar panels.

In November of last year, the U.S. Geological Survey added silver to the Critical Minerals list for the first time. According to a press release, silver is used in electrical circuits, batteries, solar cells, and anti-bacterial medical equipment.

Since the announcement, the price of silver has experienced significant upward volatility. Precious metal dealer BullionByPost, reports that prices for an ounce of silver have climbed from about $45 per ounce to as high as $115 in early 2026. As of April 21, the price has dropped to about $80 per ounce.

Funding activity this year also includes Spokane-based Blaze Barrier Inc., which closed a $760,000 seed funding round, with Avista Development Inc. and San Diego-based Barton Ventures LLC leading the round. Blaze Barrier is a startup company based on the West Plains that makes wildfire suppression systems. The company recently received patent approval and is currently manufacturing its fire suppression systems by hand while automation and machinery are being engineered.

The remaining companies, based in Spokane, raised a combined $860,000. They include private money lender Tenet Growth Enterprise LLC and EyeTally.ai Inc. EyeTally, which raised $10,000, is an AI-powered inventory counting startup company.