Downtowns being reimagined. 🏙️

⏰ Midwest Minute 

Across the Midwest, downtowns are finding their rhythm again. Not just through office traffic, but through festivals, riverwalks, concerts, markets and packed event calendars that keep people lingering long after the workday ends. Following the pandemic, many downtowns saw foot traffic decline as remote and hybrid work reduced daily commuters and shifted activity away from traditional office-centered districts. Cleveland continues to build momentum around its revitalized waterfront and Public Square programming, while Detroit’s summer festival circuit and sports districts have helped drive renewed energy downtown. Indianapolis keeps leaning into experience-first development through events, the Cultural Trail and gathering spots like Bottleworks District, and Omaha’s riverfront investments are turning public green space into year-round community hubs. Across the region, downtown recovery increasingly looks less like “return to office” and more like “return to atmosphere.” Giving people actual reasons to head back into the city beyond a desk and a badge swipe.

Meanwhile, the Midwest’s startup ecosystem is putting up a few headline-worthy numbers of its own. Chicago-based Loop landed a $95M Series C led by Valor Equity Partners, while definity raised a $12M Series A. Fresh capital is continuing to circulate as S2G Ventures launched a $1B fund and Milwaukee-based Northwestern Mutual Future Ventures raised its third fund at $150M. Add in IBM’s plans for a new quantum innovation hub and it’s safe to say the Midwest isn’t just filling downtowns again—it’s building toward what comes next.

Have any insights into the Midwest ecosystem or a funding announcement to share? Want to share your favorite revamped spot in your city? Send us an email: [email protected] 

📰 Notable News

From the Blog:

• Stock’s Supply Chain Platform is Tackling Billions in Retail Waste

Exits

• Pittsburgh-based Idelic acquired by Descartes for an undisclosed amount

Startup Funding

• Loop - $95M Series C led by Valor Equity Partners | Chicago + SF

• Pursuit - $22M Series A led by Builders VC | Ann Arbor

• Definity - $12M Series A led by GreatPoint Ventures | Chicago

• Another Nine - $2M round from existing investors | Cincinnati

VC Funds

• S2G - $1B Solutions FI | Chicago

• Northwestern Mutual Future Ventures - $150M FIII | Milwaukee

• Sample Gates Managaement - $7.8M FII | Bloomington, IN

Other News

• US VC Valuations and Returns Report

• What Microsoft Executives Really Thought About OpenAI in 2018

• Ratmir Timashev, OH.io seek to dismiss 'clickbait' lawsuit by fired execs

• EBay rejects GameStop's $56 billion bid as 'neither credible nor attractive'

• IBM to create 750 jobs on Chicago's South Side with quantum innovation hub

• Have exciting news to share? If you're announcing a funding round, exit or other milestone, send your press release to [email protected] to be featured. While we can’t share everything, we love to feature great stories from across the region.

📆 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 in our next newsletter? Send us an email: [email protected]