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Midwest Funding Roundup: Path Robotics Scores $145M Dollar Round

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. 

This week, there are three interesting things.  First, it was a fairly substantial week – led by the Path Robotics funding in Columbus. This funding actually took place during the summer and was covered previously in the report – but it came through the Form D this week, so we are reporting it again.  Here’s a link to more information on Path Robotics and their raise.  Second, there was significant activity in Indiana report this week.  Although none of the rounds was over $10M, there were many smaller Series A and below rounds.  We think that this is in part to continued attention to early funding in the state by Elevate Ventures.  Elevate has an interesting business model that focuses on both venture capital and entrepreneurial development in Indiana.  It has been a key foundational funder since its inception, but the progress in the state is noticeable if you look at it regularly (as we do).  Great work!  Third, this was a big week for more rural communities. Six fundings show up on the list this week from communities that are rural.  This is a significant amount, as in most weeks there are none.  Overall, this was a strong week for the Middle.

Large Round
Path Robotics$145M ColumbusOhio
Fyllo$40M ChicagoIllinois
Threekit$35M ChicagoIllinois
Flywheel$27.5M MinneapolisMinnesota
Akhan Semiconductor$26M GurneeIllinois
EON Aligner$26M MinneapolisMinnesota
Hirewell$21M ChicagoIllinois
PierianDx$16.9MSt. LouisMissouri
truShrimp$15M BalatonMinnesota
Mantium$12.8M CincinnatiOhio
Series A ($2M to $10M)
UncommonX$8.1M ChicagoIllinois
Novosteo$5.7M West LafayetteIndiana
DemandWell$5M IndianapolisIndiana
Green Dot Bioplastics$4M EmporiaKansas
Skykit$3M MinneapolisMinnesota
Medicardia$2.9M MequonWisconsin
Qualifi$2.4M NoblesvilleIndiana$2MIndianapolisIndiana
Early Stage ($500k to $2M)
Imbed Bioscience$2M FitchburgWisconsin
Koloni$1.25M PocahontasIowa
Flowaste$1.2M South BendIndiana
Seed Stage (0 to $500k)
Genoime$.4M MadisonWisconsin
3Bar Biologics$.3M ColumbusOhio
Pneumeric$.3M RochesterMinnesota
Stonks Trading$.08M Windsor HeightsIowa
metaMe Health$.07M ChicagoIllinois
Wingdriver$.02M ClarksonMichigan
ParkAhead$.02M IndianapolisIndiana


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