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WorkHound raises $12 million Series A round
WorkHound, an employee feedback and retention platform, announced today that it has successfully completed a $12 million Series A fundraising round. The capital, funded wholly by Level Equity, a growth equity firm based in New York City, will be used by WorkHound to add to its employee headcount, expand product offerings, and grow its…
OpenLoop raises $8 million Series A round
Des Moines health tech startup OpenLoop announced today a Series A financing round of $8 million. OpenLoop will use the capital to continue to expand its telehealth services and to grow its team. The company currently has 45 employees with plans to add another 25-30 employees by the end of the year. "Just six…
Continuum Ag raises $475K round, partners with Rabobank on carbon sequestration program
Washington, Iowa based startup Continuum Ag has raised a $475,000 investment round led by Clean Energy Trust. Additional investors in the round include Ag Startup Engine and Ag Ventures Alliance. Continuum Ag’s TopSoil is an online management platform where farmers can map out their fields and gather data to map soil health. TopSoil helps Farmers use technology like machine…
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.…
Pitchly completes $2.5 million investment round
Des Moines-based Pitchly has successfully completed a $2.5 million investment round, which will be used to drive customer growth and expand product capability. The investment was led by Next Level Ventures, with participation from Great North Labs, Twelve19 Ventures, Wellmark, and Nelnet Ventures. “We now have the opportunity to aggressively grow our user base and…
SwineTech raises $5 Million Series A round
SwineTech, an animal health startup based in Cedar Rapids, has completed a $5 million Series A round of financing. Innova Memphis led the investment round with participation from existing and new investors Johnsonville Ventures, Ag Ventures Alliance, Quake Capital, SVE Capital, The Berkeley Catalyst Fund along with several other angel investors and pork producers. The investment brings SwineTech’s total funding…
Investment round Archives | 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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