Midwest Startups Are Reaching for the Stars ✨🚀

⏰ Midwest Minute 

This summer, the Midwest skies were lit up in an unexpected way—we’re not talking fireworks. The northern lights, which form when particles from the sun interact with the Earth’s magnetic field, were visible across states like Wisconsin, Michigan, Minnesota and even into states like Kentucky. Miss this rare celestial event this summer? Don’t worry—the auroras aren’t over yet, they’re just getting started. Astro-tourism has been booming, with places like Pictured Rocks National Lakeshore and Isle Royale becoming prime destinations for stargazers. Small observatories across the Midwest have also played a key role in fostering this celestial enthusiasm, including Indiana University's Kirkwood Observatory, one of the region’s oldest. Still open for public viewings, from Spring Break until Thanksgiving every year. Chicago’s Adler Planetarium, the first planetarium in the Western Hemisphere, continues to be a stellar spot for Chi-town sky gazers, offering events for eclipses and meteor showers. And of course we can’t forget to mention the total solar eclipse that passed over the Midwest region back in April. We’re in for a visit from a “second moon” this month as well as an incoming ring of fire (different from a total solar eclipse) that will be visible over the Pacific Ocean and into South America.

The Midwest isn’t just gazing at the stars—it’s making its mark on space innovation, too. Purdue University, known as the "Cradle of Astronauts," has sent more than two dozen graduates into space, including Neil Armstrong. From the cornfields to the cosmos, Purdue’s cutting-edge aerospace programs continue to launch new breakthroughs. Midwest aerospace startups are also taking off, including Redwire Space—pushing the boundaries of space infrastructure—and Slingshot Aerospace—tracking and predicting the movement of satellites and debris in orbit. As these companies and institutions shoot for the stars, the Midwest is proving itself as a key player in the future of space exploration.

Rocketing into the latest funding announcements… Chicago-based Arch Venture Partners announced their 13th fund: a $3B biotech-focused fund. Chicago’s Zing Health also announced a $140M round. We also celebrated our 2024 Midwest Madness Champions in State College, PA last week! More of the latest below.

Have any insights into the Midwest ecosystem or a funding announcement to share? Want to share your favorite celestial event from this year? Send us an email: [email protected] 

📰 Notable News

Exits

• Indianapolis-based Realync was acquired by Grace Hill for an undisclosed amount

Startup Funding

• Zing Health - $140M round from investors like Health2047, CRG and First Trust | Chicago

• K1x - $20M round led by Edison Partners | Chicago

• Hemi Labs - $15M round led by Binance Labs, Breyer Capital and Big Brain Holdings | Chicago

• iAsk - $4.2M Seed led by Corazon Capital | Chicago

• Purchaser - $4M Seed from investors like Homebrew, Long Journey and Ludlow Ventures | Lexington

• OfferingTree - $2M round led by the Idea Fund of La Crosse | St. Paul

• Elevator - $1.6M Seed led by Invest Nebraska | Omaha

• UnVale - $1M Pre-Seed from investors like Antler, Graham & Walker and Ganas Ventures | Chicago

VC Funds

• Arch Venture Partners - $3B FXIII | Chicago

Other News

• Cheers to our 2024 Midwest Madness Champs: State College, PA

• Global Funding Slowed In Q3, Even As AI Continued To Lead 

• MATTER Launches First Paratus Digital Health Hub Readiness Accelerator as Part of BARDA Accelerator Network

• ChatGPT was tested against 2,800 work skills. Here's how many it replaced

📆 Mark your Calendar

Need to fill your social calendar? We’ve scoured newsletters, scanned LinkedIn and found some of the latest tech + startup events in the region. Know of any upcoming events and want to share them? Send us an email: [email protected]