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Midwest Funding Roundup: Cincinnati’s Enabled Injections Closes $215M

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 (, 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 more typical week in the Middle than the last two weeks. There were still a lot of deals – more than 30, but not the complete avalanche of big deals (as seen last week).  This week’s Midwest funding report illustrates the diversity of deals and geographies.  Ann Arbor had three large deals, and places like Nebraska got off the zero for the year with a big round by BasicBlock – a transportation/logistics software that helps truckers get paid faster for expenses on the road.  Enable Injections had the largest round of the week.  Enable is a biotech company that allows for flexible delivery of drugs through timed (but often rapid) injections.

Regarding the current status, Chicago passed $1B in venture deals this year.  Moreover, there was movement at the top with Michigan moving into second place regarding the number of deals – but still trailing Ohio in the amount.  Ohio also has the most MSAs represented currently with deals in 2022 in six different MSAs – Akron, Cincinnati, Cleveland, Columbus, Dayton, and Toledo.  This is very unusual.  Michigan has four, and Minnesota and Missouri each have three.  Nebraska jumped off the bottom with a single $78M deal, but overall, the big states continue to shine in 2022.  A trend to watch is Wisconsin – which is a little slow out of the gates after a weaker 2021.  

Large Round
Enable Injections$215M CincinnatiOhio
May Mobility$83M Ann ArborMichigan
BasicBlock$78M OmahaNebraska
Leap$50M ChicagoIllinois
AI Software$39M St. LouisMissouri
Censys$35M Ann ArborMichigan
Remesh$11M ClevelandOhio
Arcane Poly$11M ChicagoIllinois
Series A ($2M to $10M)
UV Partners$9.2MGrand HavenMichigan
AaDya Security$8.2MDetroitMichigan
Aver$7.5M ChicagoIllinois
MPAC Healthcare$6.7M ChicagoIllinois
DemandWell$5M IndianapolisIndiana
TSUMo Snacks$4M ChicagoIllinois$4M IndianapolisIndiana
RxFunction$3.9M Eden PrairieMinnesota
Toledo Solar$3.6M PerrysburgOhio
Tribevest$3M ColumbusOhio
Folio Photonics$2.4M SolonOhio
Cyber Pop-up$2.3MChicagoIllinois
Certiverse$2M ChicagoIllinois
Easybins$2M FayettevilleArkansas
Sonex Health$2M EaganMinnesota
Early Stage ($500k to $2M)
Plan Forward$1MWestfieldIndiana
Joy Milk Tea$1MChicagoIllinois$1MDaytonOhio
Grannus Therapeutics$.95MIndianapolisIndiana
Cowboy Clean Fuels$.81MAnn ArborMichigan
GreenMark Biomedical$.83MEast LansingMichigan
Seed Stage (0 to $500k)
Taurus Technologies Electric$.45M BarringtonIllinois
dFarm$.08M Farmington HillsMichigan
Renaissance Man$.08M AlmontMichigan
Qortor$.05M CantonMichigan

Current 2022 Scorecard of Venture Deals in the Middle

MSAsDealsAmount (in millions) StatesDeals Amount (in millions)
Ann Arbor5122.31Michigan19153.73
Saint Louis6114.65Missouri7134.65
Fayetteville342.03North Dakota231.17
Oklahoma City114South Dakota0 
Kansas City210 
Des Moines28.2 
Little Rock25 
Grand Rapids32.38 
La Crosse12 
Iowa City21.06 
East Lansing10.83 
Green Bay10.15    


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