Investing in Iowa: Q1-Q3 2020

The following is a list of all known investments raised by Iowa companies through the first three quarters of 2020. In total, Iowa-based companies raised just over $109 million through the first three quarters of 2020.

Here is a list of Iowa companies that have raised investment money so far this year:

QUARTER 1

CompanyLocationAmount RaisedDate
FBB BiomedCoralville$75,00003-20-20
LenderCloseWest Des Moines$1,000,00002-18-20
MakuSafeWest Des Moines$1,500,00001-07-20
SentinelAmes$25,00001-29-20
Sigma0 (formerly DroneSAR)Des Moines$100,00003-09-20
Skroot LabrotoryAmes$25,00002-10-20
TymeshiftFairfield$2,000,00001-21-20
Vida DiagnosticsCoralville$11,000,00003-12-20
$15,725,000

QUARTER 2

CompanyLocationAmount RaisedDate
Digital Diagnostics (formerly IDx)Coralville$12,500,00006-17-20
Farmhand AppDeWitt$25,00006-30-20
Haber TechnologiesAmes$50,00004-22-20
Handrail, Inc.Coralville$1,000,00004-22-20
SwineTechCedar Rapids$5,000,00004-07-20
VIDA DiagnosticsCoralville$2,000,00004-16-20
$20,575,000

QUARTER 3

CompanyLocationAmount RaisedDate
deetzCedar Rapids$20,00009-08-20
DhakaiCedar Falls$20,00009-08-20
Gross-Wen TechnologiesSlater$2,350,00008-13-20
Growers EdgeJohnston$40,000,00007-11-20
Haber TechnologiesAmes$1,300,00007-20-20
MakuSafeWest Des Moines$4,000,00007-08-20
MSUITECedar Rapids$4,000,00008-21-20
Moov FinancialCedar Falls$5,500,00008-18-20
OpenLoop (previously Apollo)Iowa City$20,00009-08-20
PitchlyDes Moines$2,500,00008-13-20
PowerPollenAnkeny$13,000,00008-17-20
RoboflowDes Moines$125,00008-25-20
$72,860,000

KEY TAKEAWAYS

Investments are way up from 2019

Investments from the first three quarters of 2020 have already more than doubled the total amount raised in 2019.

Despite any market volatility caused by COVID-19, funding for startups has remained unscathed. In fact, Q3 saw more than $70 in capital raised, by far the largest quarter we’ve seen since we began tracking investments in 2018.

Investment rounds continue to grow in size

16 of the 23 of the investment rounds (70%) raised so far in 2020 have been for more than $1 million. That number is significantly up from 2019 (42%) and 2018 (54%).

4 rounds over $10 million have been raised so far this year.

Agtech and medtech companies continue to dominate

Agtech companies in central Iowa

Unsurprisingly, agtech companies continue to make up a large chunk of the companies that raise capital in Central Iowa. Growers Edge in Johnston closed a $40 Million Series B round in July. This is the largest investment round of 2020 so far.

Ag Startup Engine made several seed investments in Ames-based agtech startups including Haber Technologies, Skroot Laboratory, and Sentinel. To date, Ag Startup Engine has invested in fourteen different ag startups located in Iowa.

Medtech companies in Coralville

Many of the companies that raised investments in Coralville continue to be in the healthcare and medical industry. Vida Diagnostics in Coralville raised an $11 million round in Q1 followed by a $2 million round in Q3. Digital Diagnostics raised a $12.5 million round, which comes just two years after raising a $33 million round in 2018.

A new $15 million fund for Iowa companies

ISA Ventures, a new venture capital fund connected to Iowa Startup Accelerator, reached its first close of $15 million with plans to begin investing in Iowa-based companies.

The fund ultimately aims to raise between $20 and $30 million to invest in about 100 companies over the next five years. Led by entrepreneur and investor Eric Engelmann, the fund is the largest venture fund of its type in Eastern Iowa.

The new fund will invest equally into early-stage pre-revenue startups, fast-growing young companies, and expansion-stage businesses, in a variety of technology-based industries including agriculture, education, food, healthcare, insurance, transportation, and more.


This list was made from a combination of SEC filings, Crunchbase and previous Clay & Milk stories from throughout the year. If you are aware of investments we may have missed, please post them in the comments or send us an email and we will be sure to add them.

If you are interested in sponsoring the Investing in Iowa series, please contact Managing Editor Jake Slobe at jake@clayandmilk.com for additional information.