Welcome to Excoastal, a newsletter covering deals, startups, venture capital, and more from Chicago to Boulder, Detroit to Columbus, and beyond. I’m Evan Lonergan, a native Midwesterner.
You can connect with me on Twitter @evanjlonergan, on Medium, and send deals/jobs/intel to evanlon92@gmail.com
What’s New
Excoastal Stats 📊
Last Week’s Open Rate: 35%
Last Week’s Views: 216
ICYMI: the Excoastal Investors Airtable sheet:
Midwest Venture Capital Firms and Angels
Venture Capital Deals
📍 Chicago
HAAS Alert, a Chicago-based provider of real-time auto collision prevention SaaS, raised $5 million in seed funding co-led by R^2 and Blu Ventures.
📍 Indiana
SIMBA Chain, a South Bend-based blockchain app development company, raised $25 million in Series A funding. Valley Capital Partners led, joined by Notre Dame Pit Road Fund, Elevate Ventures, and the Stanford Law School Venture Fund.
📍 Wisconsin
Agricycle Global, a Milwaukee-based ingredient upcycling startup focused on Sub-Saharan Africa, raised $2.4 million in seed funding co-led by MaSa Partners and CSA Partners.
Madison-based DataChat has raised a $25 million Series A co-led by Redline Capital and Anthos Capital. The company aims to democratize data science with a no-code, AI-based business intelligence platform.
DotCom Therapy, a Madison-based pediatric teletherapy startup, raised $13 million in Series A funding. New Capital Partners led.
📍 Minnesota
Joshin, a Minneapolis-based digital care platform, raised $3 million in seed funding. Anthemis Group and The Autism Impact Fund co-led.
Evolve Additive Solutions, a Minnetonka-based additive manufacturing platform, raised $30 million from 3D Ventures.
📍 Toronto
Irwin, maker of investor relations software, raised $20 million in Series A funding. K1 Investment Management led.
📍 Denver/Boulder
Smartwyre, a Denver-based agriculture pricing and insights company, raised $10.5 million in Series A funding. High Alpha Capital led, joined by Anterra Capital, Fall Line Capital, Revolution’s Rise of the Rest Fund, and Cavallo Ventures.
📍 Texas
OneRail, an Austin-based point-of-sale startup, raised $9 million in Series A funding. Ironspring Ventures led.
Poppi, a Dallas-based prebiotic soda brand, raised $13.5 million in Series A2 funding. Investors included CAVU Ventures, Russell Westbrook, the Chainsmokers, 24kGoldn, Kygo, Halsey, Kevin Love, and others.
Rocket Dollar, an Austin-based retirement platform, raised $8 million in Series A funding. Park West Asset Management led, with participation from Hyphen Capital, Moneta Venture Capital, Kraken Ventures, and Primetime Partners.
Solugen, a Houston-based decarbonization startup, raised $350 million. GIC and Baillie Gifford co-led, joined by Temasek Holdings, BlackRock, Carbon Direct Capital Management, Refactor Capital, and Fifty Years.
Private Equity Deals
Tritium Partners has made a growth investment in Stukent, an Idaho Falls, Idaho-based provider of digital courseware and simulations for high schools and higher education institutions.
Thoma Bravo invested in Intel 471, a Dallas-based provider of cyber threat intelligence solutions for businesses and governments.
M&A
Fort Worth, Texas-based ECI Software Solutions acquired Deacom, a provider of ERP software for process manufacturers and distribution companies.
Quantic acquired X-Microwave, an Austin-based company in the semiconductor space.
Knoxville, Tenn.-based Inhabit IQ, acquired ResMan, a Plano, Texas-based provider of business management software for property management.
Sensata Technologies has acquired Kansas City-based Spear Power Systems which was backed by investors including Emerald Technology Ventures (lead), Evergy Ventures, Chevron Ventures, Energy Innovation Capital, and KCRise Fund.
New Funds
Flyover Capital Partners, an Overland Park, Kansas-based venture capital firm, closed Flyover Capital Tech Fund II and Flyover Capital Tech Fund II-QP with over $60 million in committed capital.
Scout Ventures raised $55 million for its third fund. The Austin-based firm focuses on "hard-to-access founders building frontier and dual-use technologies."
Lexington, Kentucky-based MiddleGround Capital has closed its second flagship fund at $800 million in committed capital.
Trinity Hunt Partners, a Dallas-based private equity investor, closed Fund VI with $460 million.
What I’m Reading
A look inside Jokr, the rapid grocery delivery company
Startup/VC Twitter
Podcast Addiction
Culture Break
📚Read- This is How They Tell Me the World Ends by Nicole Perlroth
🎬Watch- Reservation Dogs on Hulu
🎧Listen-
🧐Think- After 9/11, the U.S. Got Almost Everything Wrong
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