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Limelight Health raises $33.5 million in Series C funding
Limelight Health announced today that it has raised $33.5 million in series C funding. The round was led by Principal, with participation from AXA Venture Partners, MassMutual Ventures, Aflac Ventures, Transamerica Ventures, Wells Fargo Strategic Capital, LaunchPad Digital Health and Wanxiang America Healthcare Investments. Limelight Health delivers a technology platform and solution for health insurance and employee benefits professionals. Its platform…
Investing in Iowa: Q4 2018
$105 million: That’s how much venture capital was raised by 31 different companies across Iowa in 2018, according to our findings. In Q4, Iowa-based companies raised $14,513,000. That combined with the investments from Q1-Q3 brings the total amount raised in 2018 to $105,351,666 million. Here is a list of Iowa companies that raised investment money in…
Middle Bit: Iowa Agritech Accelerator now accepting applications
The Iowa Agritech Accelerator is now taking applications for their 2019 cohort, the accelerator announced earlier this week. Like in its first two years, startups selected to participate will receive $40,000 in seed funding, subsidized housing, office space throughout the incubator period, time with mentors and investors and opportunities to build strategic partnerships. “In 2018, we…
Global Insurance Accelerator
Global Insurance Accelerator announces ten teams for 2019 cohort
The Global Insurance Accelerator (GIA) has announced the 10 InsurTech startups that will make up the 2019 cohort in Des Moines, starting on January 15. "It has been an incredible journey," said Brian Hemesath, managing director of the GIA, in an announcement of the cohort. "Today, employees of insurance companies, like those representing our investors as GIA…
Middle Bit: HNI Corporation gives $1 million to ISU for Student Innovation Center
HNI Corporation of Muscatine, Iowa, has announced a $1 million commitment to Iowa State University that will help finance the university’s Student Innovation Center. Funded through the Iowa Legislature and private gifts, the new innovation center will be a flagship facility of Iowa State’s commitment to innovation, entrepreneurship and experiential education. Construction began in March…
Two Iowa startups receive funding from IEDA
Two Iowa startups—Predictive Health Partners and Whirrx— received funding from the Iowa Economic Development Authority (IEDA) Board last month.  In total, the board awarded $125,000 to the two startups. Predictive Health Partners Based in West Des Moines, Predictive Health Partners uses real-time data, predictive analytics and artificial intelligence to help employees be better consumers and managers of their…
Involta raises $5.2 million
Involta, the Cedar Rapids-based information technology and consulting company, has successfully raised $5.2 million. The $5.2 million is the first part of a larger round that will likely raise between $7.5 and $8 million total. Involta's private equity group participated in the first $5.2 million and now existing investors will have the opportunity to invest…
DashJet offers custom, flexible jet travel
DashJet, a new jet brokerage based in Ankeny, is looking to modernize the jet brokerage industry by providing customized travel services. Despite there being a growing amount of jet brokerages in the country over the last decade, the majority of them offer rigid, one-size-fits-all services. DashJet's platform allows you to design a fixed-rate, guaranteed availability jet…
startupiowa 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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