This is Indiana's month, and we're here for it. 🏎️

⏰ Midwest Minute 

This is May in Indianapolis—a month where tradition meets adrenaline, and this year, it’s shaping up to be nothing short of legendary. Pacers & Racers? It’s not just a catchy rhyme; it’s the spirit of the city, roaring louder than an engine on Carb Day.

First off, let's talk about the crown jewel of the month: The Indianapolis 500. The Greatest Spectacle in Racing is back, and for the 109th running, it’s pulling out all the stops. NFL icon Tom Brady will be riding in the Fastest Seat in Sports, piloted by NASCAR champ Jimmie Johnson. And just when you thought it couldn’t get any more star-studded, international opera sensation Arturo Chacón-Cruz is set to sing before the engines fire up. They say the Indy 500 is loud, but Chacón-Cruz might just give those engines a run for their money.

Of course, it’s not just about the race. Miller Lite Carb Day kicks things off on May 23 with a little bit of rock and a whole lot of rumble. Bret Michaels and The All-American Rejects are headlining, because what’s better than hair metal and pop punk to set the mood for a weekend of horsepower? But wait, the infield action is where the real party is on race day. The Coors Light Snake Pit is back, with DJ Illenium headlining a stacked lineup of electronic stars like Sammy Virji, Two Friends, Kayzo and Oliver Heldens. And who else would be running the show but Rob Gronkowski as Grand Marshal? If there’s anyone who knows how to throw a party, it’s Gronk.

Meanwhile, the Pacers are fighting their way through the playoffs, keeping the spirit of Naptown alive and well. Fresh off their historic takedown of the Cavaliers after their perfect season, they’re riding high with momentum and are back in the Eastern Conference Finals for a second year.

All this comes after a packed start to the month, with the 500 Festival Mini-Marathon drawing thousands of runners through the city and right onto the Speedway itself. If running 13.1 miles before brunch isn’t your thing, no worries—there’s always Snake Pit. And if you’re the betting type, Carb Day might be the best warm-up for the main event on Sunday. The energy in Indianapolis is different in May. This isn’t just a month; it’s a celebration of everything Naptown does best. Whether you’re trackside, courtside or bar-side, you’re part of the tradition.

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

📰 Notable News

Exits

• St. Louis-based Engagedly acquired hiringtool.co for an undisclosed amount

Startup Funding

• Realta Fusion - $36M Series A led by Future Ventures | Madison, WI

• Olio - $11M Series B led by Fulcrum Equity | Indianapolis

• Nirvana Labs - $6M Seed extension co-led by Crucible Capital and Jump Crypto | Indianapolis

• Prediction Guard - $3.7M Seed led by Sovereign’s Capital with participation from M25 and others | Lafayette, IN

• Pulse Charter Connect - $2M Seed co-led by Ivy Ventures and Simplex Ventures | Chicago

Other News

• State of Private Markets: Q1 2025

• Northwestern's VentureCat sees record applications as students vie for $175K

• Foxtrot continues comeback with new Lincoln Park location

• The pay raise picture is shifting. Here's what's happening in Chicago

• U.S. VC Valuations and Returns Report

• Chicago water tech accelerator to launch this fall, backed by mHub and Current

📆 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]