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.
This was a big week for the region – particularly with large Series B+ rounds. More than $200 million was deployed to startup companies in the Middle this week. One really interesting company in the list is RoadDB from Grand Forks, North Dakota. Founded by serial entrepreneur – T. Russell Shields – the company provides deep mapping of roads through a variety of sources to facilitate autonomous vehicles. Another exciting funding was Redox Engine in Madison, Wisconsin – a company that further builds on the Epic legacy, helping to provide integration for EHRs. This week, eleven states had funding rounds – and they ranged across the entire industry spectrum. The Chicago-land area had eight of the fundings – with three in the Series B+ category – making them the week’s big winner.
Over $10 million
- Redox Engine – Madison, Wisconsin – $45 million
- Jaguar Gene Therapy – Chicago, Illinois – $40 million
- RoadDB – Grand Forks, North Dakota – $40 million
- Foxtrot – Chicago, Illinois – $37.9 million
- Fuel Tech – Warrenville, Illinois – $25.8 million
$2-10 million
- K4 Mobility – Itasca, Illinois – $5.7 million
- InSitu Biologics – Woodbury, Minnesota – $5 million
- Loan Ecosystem – Chicago, Illinois – $3.5 million
- Finix – Cincinnati, Ohio – $3 million
- MentorcliQ – Columbus, Ohio – $2.8 million
- Asalyxa Bio – Southfield, Michigan – $2 million
$500k-2 million
- Varuna – Chicago, Illinois – $1.6 million
- OpenLoop – Iowa City, Iowa – $1.3 million (Nice article about a student founder.)
- Skoop – Royal Oak, Michigan – $1.2 million
- Play Push – Lombard, Illinois – $1 million (ff)
- Tru Shrimp – Balaton, Minnesota – $.61 million
- PowerTech Water – Lexington, Kentucky – $.59 million
Under $500k
- Harena Data – Franklin, Indiana – $.38 million
- SmartLife Chocolate – Granville, Ohio – $.26 million
- Avidhrt – East Lansing, Michigan – $.25 million
- Kare Mobile – Louisville, Kentucky – $.25 million
- TegoSens – Columbus, Ohio – $.23 million
- NightWare – Hopkins, Minnesota – $.1 million
- Tuition Fit – Davenport, Iowa – $.08 million
- Trvlpage – Chicago, Illinois – $.02 million
- Healthy HipHop – Kansas City, Missouri – $.01 million