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Bristola raises $400,000 seed round
Bristola, an Iowa-based clean energy technology and maintenance company, announced last week the successful close of a $400,000 seed investment round. Headquartered in Des Moines, Bristola is a renewable energy technology services company that has a patent pending technology that revolutionizes servicing, cleaning and maintenance in the renewable energy digester industry. Bristola’s patent pending…
Steel Therapeutics raises $1.5 million seed round
Steel Therapeutics, an early stage pharmaceutical company focused on increasing access to compounded drug therapies, announced this week that it has closed on $1.5 million in financing in an over-subscribed seed round. The company’s financing was led by ISA Ventures, based in Cedar Rapids, Iowa and included a several private investors with significant industry experience. “We…
Koloni raises $1.3 million seed round
Koloni, a Midwest-based startup, announced today that it has successfully completed a seed round of $1.3 million. The round was led by Jason Calacanis’ Launch Fund with additional investments from ISA Ventures, Twelve19 Ventures, Chicago Early Growth Ventures, Locker One Ventures and others.  Koloni's platform is looking to revolutionize the smart locker industry, enabling smart…
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 &…
Ames startup Farmers Risk receives $50,000 investment from Ag Startup Engine
Ames-based startup Farmers Risk has received an initial $50,000 investment from Ag Startup Engine. Farmers Risk’s mission is to democratize the tools available to help farmers manage risk and create more predictable revenue on the farm. Farmers Risk has built software tools that consolidate core risk management decisions into a single source which makes understanding risk easy,…
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…
Roboflow raises $2.1 million seed round
Roboflow, a Des Moines-based startup that empowers developers to build their own computer vision applications, has raised a $2.1 million seed round co-led by Lachy Groom and Craft Ventures. Additional investors in the round include Next Level Ventures, Segment co-founder Calvin French-Owen, Lob CEO Leore Avidar, Firebase co-founder James Tamplin and early Dropbox engineer…
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,…
Tractor Zoom completes $1 million seed investment round
Tractor Zoom, an online marketplace that connects farm equipment auctioneers and buyers, has completed a $1 million seed investment round Innova Memphis participated in the round, alongside investments from Ag Startup Engine and a small group of angel investors and individuals that hold the remaining positions in the round. Tractor Zoom plans to use the investment to grow their team…
Pitchly completes seven-figure seed investment round
Pitchly announced today that they have completed a seven-figure seed funding round. The round was led by Next Level Ventures, with participation from M25, Great North Labs and other local investors. "Pitchly has a unique focus to help professionals, especially in the M&A sector, to curate and market data.  Managing these various points is a big problem, and…
seed 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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