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Midwest Funding Report

Fundings

Midwest Funding Roundup: Oct. 26th-Nov. 1

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 in the St. Louis ecosystem with two large raises – Benson Hill and AI Software.  But, it was also the week where companies received their notification as winners of an Arch Grant.  The Arch Grant program is a key building block in the St. Louis region helping hundreds of companies to prototype products.  The program provides $50k grants to companies with potential in the region.  This creative program has been the model for many other cities – including Lincoln, Nebraska’s Launch Lincoln program.  This early money is critical to the long-term health of St. Louis’ ecosystem and has provided a key example of a strong policy that creates change and improvement around the Middle.  This is particularly noteworthy because 2020 has had a serious dearth of seed stage financings, particularly in regions outside of Chicago.

Over $10 million

$2-10 million

$500k-2 million

  • ONL Therapeutics – Ann Arbor, Michigan – $2 million
  • Stonelock – Overland Park, Kansas – $1.85 million
  • FanLabel – Birmingham, Michigan – $1.5 million
  • Flying Spider – Milwaukee, Wisconsin – $1.05 million
  • Floracracy – Rocford, Illinois – $1.02 million
  • Whitecloud Technologies – Louisville, Kentucky – $.75 million 
  • Rowheels – Middleton, Wisconsin – $.61 million
  • Immy – Troy, Michigan – $.56 million

Under $500k

See link above to Arch Grants:

  • 3d Gloop (g) – St. Louis, Missouri – $.05 million
  • ATR Thrive (g) – St. Louis, Missouri – $.05 million
  • Bloom Beauty Brand (g) – St. Louis, Missouri – $.05 million
  • Bold xChange (g) – St. Louis, Missouri – $.05 million
  • Disruptel (g) – St. Louis, Missouri – $.05 million
  • Eemerg Roadside Assistance Marketplace (g) – St. Louis, Missouri – $.05 million
  • Flipstik (g) – St. Louis, Missouri – $.05 million
  • Hum Industrial Technology (g) – St. Louis, Missouri – $.05 million
  • Inclusively (g) – St. Louis, Missouri – $.05 million
  • Kwema, Inc. (g) – St. Louis, Missouri – $.05 million
  • LabsLand (g) – St. Louis, Missouri – $.05 million
  • Mission Control (g) – St. Louis, Missouri – $.05 million
  • Mosaic (g) – St. Louis, Missouri – $.05 million
  • Native Pet (g) – St. Louis, Missouri – $.05 million
  • Neer (g) – St. Louis, Missouri – $.05 million
  • Rebundle (g) – St. Louis, Missouri – $.05 million
  • ServiceTarget (g) – St. Louis, Missouri – $.05 million
  • Startodyne (g) – St. Louis, Missouri – $.05 million
  • Well Principled (g) – St. Louis, Missouri – $.05 million

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