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Midwest Funding Report: June 7th to June 13th

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.

Good strong week from the middle.  In particular, there were some interesting investments made in Kansas City and Omaha.  Propio Language had a very large round – $30M.  The company provides translation services for key industries, such as healthcare, to ensure that information can be seamlessly shared.  We also were really excited by Macedonia, Ohio based RevAir which is a new type of hair dryer.  It has new technology that helps hair dry faster and healthier.  Kentucky and Ohio continue to produce interesting technical hardware for water and electricity.  This has been a running theme over the last year where there are consistent fundings in these industries.  Overall, another interesting week in the Middle shows the depth of the entire region – including many second and third tier markets, not just Chicago, Minneapolis, and St. Louis.

Large Rounds (More than $10M)
Branch Insurance$50M Columbus, Ohio
Propio Language $30M Overland Park, Kansas
Sentera$25M Minneapolis, Minnesota
Kurome Therapeutics$15M Cincinnati, Ohio
Rise Science$10M Chicago, Illinois
Series A ($2M to $10M)
Juvenescence$9.5M Walton, Kentucky
RevAir$9M Macedonia, Ohio
ElectraMet$6.6M Lexington, Kentucky
ETS$6M Bloomington, Minnesota
StoneLock$5M Overland Park, Kansas
Gearflow$4.8M Chicago, Illinois
Automotive Innovations$2.6MKansas City, Missouri
EdgeMode$2.4M Chicago, Illinois
   
Early Stage ($500k to $2M)
Thrivable$1.7M Bedford Heights, Ohio
Bot Image$1.4M Omaha, Nebraska
Tayco Brace$1M South Bend, Indiana
Prepmedians$.8M Chicago, Illinois
   
Seed Stage (0 to $500k)
Thermavance$.5M Traverse City, Michigan
Keypath Education$.38M Schaumburg, Illinois
Loophire$.3M Omaha, Nebraska
Mycroft Ai$.2M Kansas City, Missouri
Triple Whale$.11MColumbus, Ohio

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