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Funding

Dwolla Raises $21 Million Venture Round
Dwolla announced today that it has raised $21 million in funding to continue to build out its strategic roadmap and to expand to markets outside of the U.S. The round was led by Foundry Group. Additional investors include Park West Asset Management LLC, Union Square Ventures, Detroit Venture Partners, Firebrand Ventures and Next Level Ventures.…
Two startups receive funding from IEDA
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of two Iowa startups. In total, $200,000 was awarded to the two startups. Here are the two startups that received funding. Gain Compliance Based in Des Moines, Gain Compliance is a software platform that assists businesses with the filing of financial reports. The software assists with the…
WINPRO Pet Closes $3 million Series B Round from Next Level Ventures
WINPRO Pet, a Des Moines-based pet company that makes serum-based supplements for dogs announced yesterday that it has closed a Series B round of more than $3 million from Next Level Ventures. Founded in 2016, WINPRO products use clinically proven animal blood proteins to help prevent and combat the negative effects of stress-induced inflammation in…
IEDA awards $425,000 in funding to seven startups
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of seven Iowa startups. In total, $425,000 was awarded. Here are the seven startups that received funding. Skroot Laboratory Skroot Laboratory in Ames creates technical shortcuts for the biomanufacturing industry with the creation of a sensor system that monitors the health of cells in…
Online marketplace ChopLocal receives $50,000 investment from Ag Startup Engine
Wayland, Iowa-based startup ChopLocal has received an initial $50,000 investment from Ag Startup Engine. Founded in 2020, ChopLocal is an online marketplace that makes it easy for farmers and butchers to connect with meat-eaters by simplifying the process from farm-to-fork, supporting small businesses, and providing high quality meat. “We really value the support of the Ag Startup…
Mazen Animal Health closes seed round, announces new hires
Mazen Animal Health announced today the close of its Series Seed Round led by Next Level Ventures and joined by Kent Corporation, ISA Ventures, Ag Startup Engine, Ag Ventures Alliance and Summit Ag. The company is developing orally-delivered animal vaccines that revolutionize animal disease prevention. All six first tranche investors came into the second tranche…
Growers Edge Secures $5 Million Debt Facility from Silicon Valley Bank
Growers Edge announced last week that it has raised a $5 million venture debt facility through California-based Silicon Valley Bank. Based in Johnston, Iowa, Growers Edge has pulled together a range of fintech and analytics tools. The system combines data from local growers, agtech vendors, and insurance partners including financial data; agtech field data; grower history; and…
IEDA awards $500,000 in funding for Three entrepreneurial projects
Three entrepreneurial service providers have been awarded grants via the Iowa Economic Development Authority's (IEDA) Entrepreneurial Investment Award program. The program provides financial assistance to service providers that offer technical and financial assistance to entrepreneurs and startup companies seeking to create, locate or expand a business in Iowa. In total, the three organizations received…
OpenLoop raises $3 million seed round
OpenLoop, an online platform designed to help match healthcare providers with hospitals and other facilities that require extra staffing assistance, has closed a $3 million seed round the company announced today. Next Level Ventures, Panoramic VC (formerly BIP capital), Techstars, and ISA Ventures all participated in the $3 million round. The rest of the round…
LenderClose Closes $10 Million Series B Round
LenderClose, a real estate and home equity lending technology platform, announced today that it has successfully closed a $10 million Series B funding round. The West Des Moines-based company will use the funding to focus on the company’s rapid growth. Since its Series A in March 2018, the company has onboarded nearly 300 credit unions and…
3 startups receive funding from IEDA
The Iowa Economic Development Authority (IEDA) has approved innovation funding in support of three Iowa startups located in Carroll, Cedar Rapids and Iowa City. In total, $150,000 was awarded to the three startups. Here are the three startups that received funding. Classroom Clinic Classroom Clinic in Carroll offers school-based telehealth services to rural school districts. It…
Funding Archives | Page 6 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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