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Midwest Funding Report


Midwest Funding report: June 1st – June 6th

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 we are displaying two weeks of deal data as we had a delay on last week’s funding report.  This report identifies a couple of big Chicago deals – but also a wide array of other interesting transactions – including a couple of large deals in secondary cities, such as Oklahoma City, Wauwatosa, and Grand Rapids.  These are not typical places to see large rounds.  We also are starting to see companies emerge for repeat deals – such as Wave Halo, one of the first companies that Mug.News covered.  This list also illustrates the repeating pattern of Series A and Large Rounds being covered well – but a lack of knowledge about what is happening in early stage and seed stage environments.  Many of these deals do not get reported, and Mug is working to find new ways to identify these deals.  Thanks for reading.

CompanyDeal Size Location
Large Rounds (More than $10M)
Project 44$202M Chicago, Illinois
Climavision$100M Louisville, Kentucky
Rushmore Gaming$50M Sioux Falls, South Dakota
Standard Bariatrics$35M Cincinnati, Ohio
Sharpen Technologies$14M Indianapolis, Indiana
Frictionless Enterprises$10M Grosss Pointe Farms, Michigan
Series A ($2M to $10M)
Rae Wellness$9.5M Eden Prairie, Minnesota
RoboTire$8.2M Plymouth, Michigan
Authenticx$7.5M Carmel, Indiana
Turn Technologies$7.1M Chicago, Illinois
Euphrates Vascular$6M Saint Louis, Missouri
oak9$5.9MChicago, Illinois
LeverageRx$5.5M Omaha, Nebraska
Sentry Health$3.6M Louisville, Kentucky
Radius Group$3.1M Little Rock, Arkansas
Lucy$3M Minneapolis, Minnesota
TripScout$2.3M Chicago, Illinois
Codelicious$2.2M Indianapolis, Indiana
Clearbox Decisions$2.1M Chicago, Illinois
PayIt$2.1M Kansas City, Missouri
Early Stage ($500k to $2M)
Foresight Healthcare$2.0M Maryland Heights, Missouri
Impetus Agriculture$1.9M Saint Louis, Missouri
LightStance$1.5M Toledo, Ohio
Stix Golf$.9M St. Charles, Illinois
iSite Media$.9M Saint Louis, Missouri
Peptinovo Biopharma$.7M Ann Arbor, Michigan
TruStar$.5M Schaumburg, Illinois
Seed Stage (0 to $500k)
Ocusell$.45M Cincinnati, Ohio
Steel Therapeutics$.38M North Liberty, Iowa
Nsense$.28M Ames, Iowa


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