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Midwest Funding Report: St. Louis’ Navvis closes big

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. 

Double whammy funding report today.  That means that we have a big report with lots of companies.  A couple of things that I think are important to call attention to.  First, the Middle is having an amazing year from a venture funding perspective.  There have been multiple reports regarding this growth – Rise of the Rest, for example – and change. was created because this was going under-reported.  The shift has been apparent for the last three years, and part of the reason for the shift is a growing awareness of how entrepreneurship and strong entrepreneurial ecosystems support high growth tech startups.  For example, in today’s report, Valley View, Ohio has a company that raised $750,000 and Washington, Iowas has a company that raised more than $1,000,000.  This is happening because the spread of the entrepreneurial message is starting to seep into rural areas and those that were forgotten by venture capital decades ago.  Instead of relying on people from the outside, the MIddle has created hundreds of local angels, tens of capital organizations, and thousands of ecosystem builders.  This effort has helped drive thousands of companies to receive venture investment.  In fact, in 2021 alone, the Middle has generated more than $16.5B in investment in more than 2000 deals.  Those deals have occurred all over the region.  For example, Nebraska has seen more deals since the beginning of 2020 than the previous five years combined.  This is a short way of saying that the Middle is generating significant economic growth and development through the startup community movement.

Large Round
Navvis$105M St. LouisMissouri
Tegus$90M ChicagoIllinois
Intellihot$50M GalesburgIllinois
Virtual Incision$46M LincolnNebraska
Threeflow$45M ChicagoIllinois
Stacked$35M ChicagoIllinois
LanzaTech$30M SkokieIllinois
SmartScripts$21.3M WashingtonIowa
Empora Title$20M ColumbusOhio
Hygeia$17M LivoniaMichigan
AeroFlexx$15.6M West ChesterOhio
Gate Neurosciences$15M CarmelIndiana
Spot Hopper$14M MilwaukeeWisconsin
Sortera Alloys$10M Fort WayneIndiana
Karamba Security$10M Bloomfield HillsMichigan
Series A ($2M to $10M)
Clever Real Estate$8M St. LouisMissouri
The Desire Company$8M ChicagoIllinois
Castiron$7.3M IndianapolisIndiana
Trala$6.9M ChicagoIllinois
Hologram$6.8M ChicagoIllinois
Titan$5M ChicagoIllinois
Trustpage$5M DetroitMichigan
Tagore Technology$4M Arlington HeightsIllinois
Upkara$4M NoviMichigan
Datacrossing$3.4M ChicagoIllinois
Proto Lase$3.3M Maple GroveMinnesota
Nanoguard Technologies$2.9MSt. LouisMissouri
Zoomfi$2.6MGreen BayWisconsin
Advanced Ionics$2.5MMilwaukeeWisconsin
Philo Media$2.4M Burr RidgeIllinois
Power One$2.4M ChicagoIllinois
Sword Performance$2.3M LexingtonKentucky
AgileBlue$2.3M ClevelandOhio
Dimension Inx$2.2MChicagoIllinois
Concentric Solutions$2.2M Glendale HeightsIllinois
Journera$2M ChicagoIllinois
Early Stage ($500k to $2M)
Get Bizzy$1.8M Brooklyn CenterMinnesota
Happi$1.67M BirminghamMichigan
ThermSolutions$1.65M Lake ForestIllinois
ToDoolie$1.51M DetroitMichigan
Open Relay$1.5M LenexaKansas
Spine Thera$1.22M PlymouthMinnesota
Thynk Health$1.2M LexingtonKentucky
Atlas$1M ChicagoIllinois
Ahimsa$.93M IndianapolisIndiana
Extrance$.85M MinneapolisMinnesota
AG1$.75M Valley ViewOhio
Here Here$.55M ChicagoIllinois
SAFIO Solutions$.52M BrookfieldWisconsin
Seed Stage (0 to $500k)
Hann Shoes$.35M ValparaisoIndiana
Tesseract Structural Innovations$.25M FayettevilleArkansas
DocuMentor$.2M IndianapolisIndiana
Orthodontic Details$.2M IndianapolisIndiana
Area Hype$.12M Kansas CityMissouri
Cognovi$.1M DaytonOhio
Manaia Collective$.1M Kansas CityMissouri
TBB Quality Solutions$.1M IndianapolisIndiana
RF Bistatics$.1M YpsilantiMichigan
Active Ortho$.06M PlymouthMinnesota
baigan$.02M SmithfieldMichigan
Fertile Ground$.02M Oklahoma CityOklahoma
Protokinetix$.02M MariettaOhio
HighRes Labs$.01M EdmondOklahoma
Stagerie$.01M CliveIowa


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