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Midwest Funding Report: Evolve Additive Solutions Closes $37M

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 (hello@mug.news), 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 was a big week for fundings around the Middle.  Chicago had two large rounds and two series A rounds (Stable, Leap, BETsperts, Bridge FT).  Michigan also had a nice haul this week with two large rounds and three Series A. One of our favorites from this list is Seraph – which has a hardware product that is able to identify dangerous bacterial, viral, and fungal pathogens.  There were also some rare sightings this week with Aesir in Joplin and STRE.ME in Fort Wayne.  It is always great to see some smaller communities produce strong high growth businesses.

Large Round ($10+M)
Stable$47MChicago, Illinois
Evolve Additive Solutions$37MMinnetonka, Minnesota
Common Citizen$20MMarshall, Michigan
Checkpoint Surgical$18MIndependence, Ohio
FlexDex$13MBrighton, Michigan
Leap$11MChicago, Illinois
Series A Round ($2-10M)
Seraph$7MDetroit, Michigan
Cooks Venture$6.3MDecatur, Arkansas
BETSperts$6MChicago, Illinois
Felux$5.1MCleveland, Ohio
Aesir$5MJoplin, Missouri
HAPPE Spine$3.4MHolland, Michigan
Innovare$3MChicago, Illinois
Line Leap$2.7MAnn Arbor, Michigan
Bridge Financial Technology$2.5MChicago, Illinois
Rezilient Health$2.5MSt. Louis, Missouri
Early Stage Round ($500k-$2M)
Unified Information Devices$2MLake Villa, Illinois
Torchlite$.9MIndianapolis, Indiana
Backstitch$.7MKansas City, Missouri
Roddy Medical$.6MWauwatosa, Wisconsin
Seed Round (up to $500k)
STRE.ME$.27MFort Wayne, Indiana
Cora Home$.08MChicago, Illinois
College Coaching Network$.01MKansas City, Missouri

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