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Funding Report


Midwest Funding Roundup: Sept. 27-Oct. 3

The Midwest Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release (, 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar.

This week was a relatively average funding week for 2020 with more than ten but fewer than twenty deals (not all are listed).  There is a good spread of deals across the region with no single city making up the lionshare. The Pacaso funding in Cincinnati is of particular note because of its size.

Midwest Fundings Over $10 million

  • Pacaso – Cincinnati, Ohio – $17 million + $250 million debt (pitchbook)
  • Chlorum Solutions – Chicago, Illinois- $39.7 million
  • AppHarvest – Lexington, Kentucky – $28.1 million
  • Bloomscape – Detroit, Michigan – $15 million
  • ScriptDrop – Columbus, Ohio – $15 million
  • RedShelf – Chicago, Illinois – $10.003 million

Midwest Fundings $2-10 million

Midwest Fundings $500k-2 million

  • Network Perception – Chicago, Illinois – $1.65 million
  • VasoGnosis – Milwaukee, Wisconsin – $.85 million
  • RiseKit – Chicago, Illinois – $.5 million
  • Abaca – North Little Rock, Arkansas – $.5 million

Midwest Fundings Under $500k

  • Cora Home – Chicago, Illinois – $.39 million
  • MARUX – Detroit, Michigan – $.27 million
  • Inprentus – Champaign, Illinois – $.12 million
  • Epitome Energy – Red Wing, Minnesota – $.1 million

If your company has recently raised or if you think we missed someone in this Midwest Funding Roundup, please email your press release or information to

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