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Midwest Funding Roundup: Light Guide Systems Closes $15M

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. 

O-H…I-O.  This was a strong week from the Buckeye State, particularly Cleveland.  Overall, the post-holiday hangover appears to have stalled some of the mid-summer investment momentum.  However, there were still a number of interesting deals. Sundays for Dogs was one of our favorites with a tagline of “from a veterinarian, an engineer, and their scruffy pups”.  However, not to be outdone, this week had a number of post-industrial cities illustrating the power of their ecosystems with numerous manufacturing related technologies.  These technologies ranged from med-tech to manufacturing technology to technology targeted at leisure.  These technologies continue to shine a light on the power of the Middle.  The diversity and depth of industrial expertise across the region is one of the key drivers of regional success.

Large Rounds (More than $10M)
Light Guide Systems$15M Wixom, Michigan
Sundays for Dogs$14.5M Cleveland, Ohio
Series A ($2M to $10M)
Cardialen$4.4M Brooklyn Center, Minnesota
Daupler$4M Kansas City, Missouri
Early Stage ($500k to $2M)
OnStation$1.5M Cleveland, Ohio
Focus CFO$1.2M Blacklick, Ohio
Xillum$.85M Fort Wayne, Michigan
City Zenith$.75M Chicago, Illinois
Promethient$.54M Traverse City, Michigan
Seed Stage (0 to $500k)
Automation Net$.5M Saint Louis, Missouri
Boost App$.49M Bloomington, Indiana
IrriGreen$.45M Edina, Minnesota
Pison Stream$.3M Brecksville, Ohio
Security Studio$.3M Minnetonka, Minnesota
Fanschool$.03M Minneapolis, Minnesota

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