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Midwest Funding Report


Midwest Funding Roundup Feb. 14th – Feb. 20th

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.

One of the reasons that we love the middle is the amount of diversity in our startup portfolio as a region.  With so many communities with so many separate comparative advantages, many different types of companies can be started here.  The five companies in the third tier represent this well.  Palarum is a smart sock company that provides medical information.  Honest Jobs is a company that helps people find jobs.  Tygrus is a company that manufactures inorganic chemicals.  EdgeMode helps with compute power.  75F is a smart building company.  It is true that we are spread out over a large geography, but across the Middle of this country, innovation and startups happen.  We have huge companies being born every week – but not just in a single place.  This diversity is one of the strengths of the region.

Over $10 million

$2-10 million

$500k-2 million

  • Palarum – Lebanon, Ohio – $1.9 million
  • Honest Jobs – Columbus, Ohio – $1.3 million
  • Tygrus – Troy, Michigan – $1.15 million
  • EdgeMode – Chicago, Illinois – $.77 million
  • 75F – Burnsville, Minnesota – $.7 million

Under $500k

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