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Funding

IEDA awards $22 million in Manufacturing 4.0 funding 
The Iowa Economic Development Authority (IEDA) announced last Thursday that $22 million in Manufacturing 4.0 Workforce Innovation grants have been awarded to 46 companies in Iowa. These grants are geared toward Iowa manufacturers with 76-250 employees across locations investing in Industry 4.0 technologies to address workforce issues exacerbated by the negative impacts of COVID-19.…
UIowa spin-off company hC Bioscience raises $24 Million Series A to develop protein-editing therapies
hC Bioscience, a drug discovery and development company focused on tRNA-based therapeutics targeting protein dysfunction, has closed a Series A financing of $24 million led by ARCH Venture Partners, Takeda Ventures and 8VC. hC Bio is advancing two complementary platforms. One is directed at restoring protein function when “nonsense mutations,” or premature termination codons (PTCs),…
The Iowa Center Loan Fund receives CDFI Certification
The Iowa Center for Economic Success, a nonprofit based in Des Moines, announced last week that its Loan Fund has been certified by the U.S. Department of Treasury as a Community Development Financial Institution (CDFI). CDFIs are private financial institutions that are dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged…
Iowa awards $1.4 million in Employer Innovation Fund awards
Future Ready Iowa last week awarded $1.4 million in grants to 38 Iowa employers and partner organizations who are launching projects to help Iowans achieve postsecondary training and education. Combined, the Employer Innovation Fund awards will boost workforce talent by helping 3,542 Iowans earn non-credit and for-credit credentials that will enable them to obtain or…
Four Iowa startups receive IEDA funding
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of four Iowa startups. Here are the startups that received funding.  Distynct Ames-based Providence Data Technologies, doing business as Distynct, provides an internet-based remote monitoring and alarm platform for livestock facilities, which allows producers to optimize personnel by directing them to the most significant problems of the…
$210 million in grants awarded to improve broadband access in Iowa
Today, Governor Reynolds and the Office of the Chief Information Officer announced the latest recipients of the Empower Rural Iowa Broadband Grants Program.     Funding of more than $210 million for new broadband infrastructure has been awarded to 160 applicants as part of the latest investment in expanding broadband across the state, announced in October 2021.   "We’ve received an overwhelming number of applications and funding requests, which highlights the considerable need…
Techstars Iowa alum Onward Delivery Raises $4.7 million seed round
Onward Delivery, a freight marketplace that connects retail stores to underutilized trucks already on the road, has closed an oversubscribed $4.7 million seed funding round, led by Range Ventures and Matchstick Ventures. The round also includes participation from angel investors including Andrew Leto, Founder & CEO of Emerge; Jett McCandless, Founder and CEO of Project44; Sean Henry, Founder &…
IEDA awards funding to four Iowa startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of four Iowa startups. In total, $275,000 was awarded to the four startups. Here are the startups that received funding. Mazen Animal Health Ames-based Mazen Animal Health develops oral animal vaccines for animal disease prevention. The edible vaccines can be dosed with feed, offering a cost-effective, safer…
Ames startup N-Sense receives $50k investment from Ag Startup Engine
N-Sense, an Ames-based startup that is developing a soil nitrate sensor system for on-the-go nitrogen management, has received a $50,000 investment from Ag Startup Engine. Founded in 2017, N-Sense's soil nitrate sensor system can be attached to farm implements and used to determine in-real-time on-the-go soil nitrate concentrations with enough accuracy to facilitate precision application…
Techstars Iowa alum QuickHire raises $1.4 million investment round
QuickHire, a Kansas-based career discovery platform working with service workers to find job and advancement opportunities, announced today an oversubscribed $1.41 million financing round, led by MATH Venture Partners. The funding will go towards technology investments and team expanding the company's team, led by co-founders Deborah Gladney and Angela Muhwezi-Hall. This round also included participation from Sandalphon Capital, KCRise…
Funding Archives | Page 3 of 14 | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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