Middle Bit: Over $100 million in capital raised this week around the Midwest

Raising Capital Photo courtesy of Pexels.com

There are five Midwest companies that raised over $100 million this week according to multiple media reports.

Label Insight—a Chicago-based product transparency company—raised $21 million in Series C funding, the company announced Tuesday. According to a news release, Label Insight plans to use the funding to hire data science professionals, continue product development and accelerate customer growth.

Another Chicago-based company—Tovala—raised $9.2 million in Series A funding, according to TechCrunch on Monday. According to the story, Tovala is a three-year-old startup that makes $399 “smart” ovens, along with meals to cook inside them.

A third Chicago company—Heretik—raised $2.4 million in seed funding. Heretik is a software company that uses machine learning in the contract review process.

Colorado-based Canvas Technology raised $15 million in Series A funding, the company announced Tuesday. According to the release, the funding will be used for accelerating the Development of Autonomous Robotic Systems.

And Respicardia Inc.—a Minnesota-based medical technology company—raised $58.5 million in funding

Hudl unveils new headquarters in Lincoln

A new 170,000 square foot headquarters was unveiled Tuesday for Lincoln-based Hudl, according to a story Wednesday on Silicon Prairie News.

Hudl provides video review and performance analysis tools for sports teams and athletes at each level.

According to the story, approximately 350 of Hudl’s over 1,000 employees moved into the fourth through seventh floors at the end of November. Officials told SPN that the new space can comfortably accommodate 600-800 employees total.

The new building was two and a half years in the making.

What else happened…

Colorado

Santa is reinvented for modern age, taking calls, migrating to apps – The Denver Post

Convercent—a Denver-based ethics and compliance cloud software provider—raised $25 million in Series E funding – Term Sheet

Illinois

Five myths about bitcoin – Chicago Tribune

Conagra to acquire Milwaukee-based Sandwich Bros – Chicago Tribune

Michigan

Detroit’s Amazon bid pitches tax breaks – Freep.com

Minnesota

Mayo’s new collaboration continues its work with digital health startups – TCBmag.com

Wisconsin

Inside Amazon’s fast delivery service, Prime Now – Jsonline.com

Klappa flips the switch for solar energy – Jsonline.com