Spring is finally here! 🌦️

⏰ Midwest Minute 

Just in time for Earth Day, the Midwest is getting a reset. It’s been a rainy start to the Spring in the Midwest. State’s, like Indiana, are officially out of drought conditions for the first time in 324 days, setting the stage for a strong growing season ahead. Gardening season is underway across the region, where crops like corn, soybeans, tomatoes, peppers and leafy greens tend to thrive in the Midwest’s fertile soil and temperate climate. And if you’re looking to see the results in full bloom, some of the region’s best displays are already coming to life—from tulips in Holland, Michigan to the spring collections at Chicago’s Garfield Park Conservatory and Missouri’s Missouri Botanical Garden, one of the oldest botanical institutions in the country. After a few unpredictable growing seasons, this spring feels like a return to form, and a reminder that the Midwest doesn’t just grow crops, it grows some of the best gardens in the country.

A few standout fundraises we wanted to highlight this week: Chicago-based Madison Air officially hit the public markets at $27 per share, while Michigan’s Slate Auto raised a massive $650M round out of Troy, one of the largest Midwest financings this year. Ann Arbor continues its strong run with Sygaldry securing $105M from Breakthrough Energy Ventures, reinforcing the region’s role in climate innovation. Meanwhile, Chicago’s Onto Health added $20M to support its platform, and new capital is forming as Baird Capital raises a $450M fund across Chicago and London. More on these and the rest of the past two week’s headlines below.

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

📰 Notable News

Exits

• Chicago-based Madison Air IPO’d at $27 per share

Startup Funding

• Slate Auto - $650M round led by TWG Global | Troy, MI

• Sygaldry - $105M Series A led by Breakthrough Energy Ventures | Ann Arbor

• Sooth Labs - $50M Seed led by Felicis Ventures | Pittsburgh

• Onto Health - $20M round led by ARTIS and Humana | Chicago

• SCATR - $12.6M Series A led by First In | Cleveland

VC Funds

• Baird Capital - $450M FIII | Chicago + London

Other News

• Anthropic’s New A.I. Model Sets Off Global Alarms

• The Vercel Breach Wasn’t Just a Hack. It Was a Trust Failure

• Empty Department Stores Are Housing Cleveland’s Booming Population

• Employee influencers are the future of the creator economy

• 2026’s fast-approaching mega-IPO wave is expected to reset the VC secondaries market

• Who’s Funding Defense Tech? Fund-Level Data on the Investors Shaping the Capital Stack

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]