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Midwest Funding Roundup

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Midwest Funding Roundup Jan. 17 – Jan. 23rd

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.

Rivian Automotive dominated the week of funding with a $2.65 BILLION dollar funding.  The company provides two primary vehicles – an adventure vehicle (part pick-up and part SUV) and a delivery vehicle (primarily working with Amazon which is a multi-time venture funder of the company).  These vehicles are electric and part of multiple companies’ pledges to provide more environmentally friendly services and products.  Also, an excellent week from Ohio with three sizeable fundings across various industries – from esports to complex hardware management to pharmaceuticals.  The variety of fundings and the depth of the Middle is consistently on display as we examine weekly venture capital reports.  

Over $10 million

$2-10 million

  • Play One Up – Cleveland, Ohio – $5.1 million
  • Nikola Labs – Westerville, Ohio – $5 million
  • Optimvia – Cincinnati, Ohio – $5 million
  • Podchaser – Oklahoma City, Oklahoma – $3.99 million
  • Thrive365 – Prospect, Kentucky – $2.5 million

$500k-2 million

Under $500k

  • Ambient Clinical Analytics – Rochester, Minnesota – $.3 million
  • Young Entrepreneur Project – Leawood, Kansas – $.19 million
  • Ocusell – Cincinnati, Ohio – $.1 million
  • Blueprint Stats – Bloomington, Indiana – $.1 million
  • Nowbase – Topeka, Kansas – $.09 million

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