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Coralville biotech company awarded $2 million Phase II SBIR grant
NanoMedTrix (NMTx), a Coralville, Iowa-based biotech spinoff from the University of Iowa, has been awarded a $2 million Phase II Small Business Innovation Research (SBIR) grant to continue groundbreaking treatment of cancer. The company is based at BioVentures Center of the University of Iowa. Its main focus is to develop nanotechnology-based treatments of various forms of cancer.…
IEDA awards funding to two startups
The Iowa Economic Development Authority (IEDA) Board has approved innovation funding for two startups located in Ankeny and Fairfield. In total, $50,000 was awarded to the two startups. Here are the two startups that received funding: Vine Chromatic Vine Chromatic, based in Ankeny, is a talent booking agency working to connect artists and venues. The company plans…
Viewpoint Molecular Targeting closes Series A round at $13 Million
Viewpoint Molecular Targeting, a radiopharmaceutical company based in Coralville, announced last week that it has closed its third and final tranche of Series A financing, bring the round to a total of approximately $13 million. Proceeds from the financing will be used to advance the Company’s two lead programs, VMT01 and VMT- 𝛼-NET, into Phase…
Investing in Iowa: Q4 2020
Iowa startups raised $145 million this year. That is by far the most capital raised by Iowa startups seen since we began tracking investments in 2018. Since the beginning of 2018, Iowa startups have now raised a total of more than $300 million. The following is a list of all known investments raised by Iowa…
Viewpoint Molecular Targeting raises $8 Million in Series A Financing
Viewpoint Molecular Targeting, a pharmaceutical startup based in Coralville, has raised $8 million in Series A financing. Viewpoint is a University of Iowa startup pharmaceutical company that has developed novel therapy and companion diagnostics for cancer. The company says it expects to complete one or more additional tranches of this financing on the same terms over the next…
Tractor Zoom raises $3 million Series A round
Tractor Zoom, an Urbandale-based auction marketing and equipment pricing company, has raised $3 million in Series A funding to scale its transparent pricing and analytics platform, Iron Comps. Innova Memphis, Hyde Park Angels, Iowa Corn Opportunities, ISA Ventures, Ag Ventures Alliance, Ag Startup Engine and several strategic angel investors joined the round. The company’s software…
Moov Financial raises $27 million in Series A funding
Moov Financial, an open source embedded banking platform, has raised $27 million in a Series A funding round led by Andreessen Horowitz (known as "a16z"). Gokul Rajaram, Abstract Ventures, Bain Capital, Canapi Ventures, Commerce Ventures, Gradient Ventures, RRE Ventures, Uncorrelated Ventures, Veridian Credit Union, and 27 angel investors joined the round. Based in Cedar Falls,…
Rantizo raises $7.5 million Series A Round
Iowa City-based agtech company Rantizo announced today it has raised $7.5 million in Series A funding led by Leaps by Bayer and several agtech investors and strategic partners including Fall Line Capital, Innova Memphis, Lewis & Clark Ventures, KZValve, and Sukup Manufacturing. Additional participants in the round include ISA Ventures, AgVentures Alliance and other angels,…
CartilaGen receives early-stage funding from Wellmark
CartilaGen, an Iowa City-based startup that is developing the world's first preventative therapy for post-traumatic osteoarthritis, has received funding from Wellmark Blue Cross and Blue Shield. The award will bolster CartilaGen's development of its preventive solution for post-traumatic osteoarthritis (PTOA) as the company is set to begin its first in-human clinical trial. Medical startup incubator MATTER has…
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…
Iowa organizations receive funding to launch ‘Iowa Go-To-Market program’
Three Iowa organizations—Iowa Innovation Corp, Iowa State University Startup Factory and VentureNet Iowa—have received a $525,472 grant from the U.S. Economic Development Administration’s 2020 Venture Challenge program to launch the Iowa Go-To-Market (G2M) program. The funding will support the G2M project team in seeking to address two gaps in the Iowa innovation ecosystem. First, a…
Moov Financial Raises $5.5 Million Seed Round
Moov Financial, an open source embedded banking platform, has raised $5.5M in seed funding led by Bain Capital Ventures, with participation from Canapi Ventures, Commerce Ventures, Gradient Ventures, RRE Ventures, Uncorrelated Ventures, and 27 angel investors. Veridian Credit Union also participated in the round after signing a strategic partnership agreement. Based in Cedar Falls,…
Funding Archives | Page 2 of 4 | 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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