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Midwest Funding Report: Chicago’s Kin Closes $82M

The 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 ([email protected]), 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’s funding report is a little lighter than some of those earlier in the year.  However, there were still five deals of more than $10 million.  Three of the four largest were in Chicago.  Kin, the company that received the largest deal this week, is a company that provides an online insurance platform for home insurance.  The other deal in the quartet is Our Next Energy, which is a battery company targeting better storage and greater distance for automobiles.  This company is from the Detroit area.  However, the most interesting company to us is Opendorse’s $5 million raise.  This Lincoln-based company is the leader in athletic endorsements and, in particular, Name, Image, and Likeness (NIL). 

We will update the list of deals and aggregated finance data on this page, but with relatively few deals this week, we have decided to wait another week or two.  

Large Round
Kin$ 82.00ChicagoIL
Our Next Energy$ 65.00NoviMI
Res Publica Group$ 36.00ChicagoIL
CancerIQ$ 14.00ChicagoIL
Egg Medical$ 13.00Saint PaulMN
Series A ($2M to $10M)
RxFunction$ 5.88Eden PrairieMN
Koloma$ 5.67DublinOH
Auto Warehouse (Automotive)$ 5.35ChicagoIL
Opendorse$ 5.00LincolnNE
Catalina Crunch$ 4.35IndianapolisIN
Workbox (Office Services (B2B))$ 3.53ChicagoIL
Omcare$ 3.25BloomingtonMN
Whistle (Business/Productivity Software)$ 3.20MaplewoodMO
Virtual Benefits Administrator$ 3.00GermantownWI
Quiver Quantitative$ 2.00Spring GreenWI
Early Stage ($500k to $2M)
Zizzl$ 1.98MilwaukeeWI
NuShores Biosciences$ 1.50Little RockAR
AfterSchool HQ$ 1.24FishersIN
Sowell Management$ 1.15North Little RockAR
OmniLife$ 1.00LexingtonKY
Scratch Engine$ 0.92BrownsburgIN
AG1$ 0.75Valley ViewOH
AgileBlue$ 0.75ClevelandOH
LABR$ 0.63Grand RapidsMI
Deep Systems$ 0.50GenevaIL
Seed Stage (0 to $500k)
Application of Nothing$ 0.45ChicagoIL
Digital Masterplanning$ 0.45ChicagoIL
Leash$ 0.40OmahaNE$ 0.25MinneapolisMN
Allied H2O$ 0.25LutherOK


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