It’s time to pull out the winter hats and gloves🧣

⏰ Midwest Minute 

Get ready for a real chill as the cooler weather starts to make its grand entrance for the season. While Chicago often gets its first snowfall on October 31—this year the Windy City narrowly escaped it, with their neighbors to the north witnessing some snow. With a possibility of a La Niña in store for the 2024 season, we could be looking at a wet and snowy winter. This may be good news for skiers across the Midwest—after a historically poor season in 2023—but every La Niña season is different. This year, the Farmers' Almanac predicts a harsh winter with significant snow, rain, sleet and ice for the Northeast, which can extend to parts of the Midwest. While overall precipitation has varied over the past decade, there's been an increase in the frequency and intensity of heavy snowfall events around the Great Lakes region. The EPA reported a rise in the number of days with snowfall exceeding three inches, particularly around the Great Lakes. This trend is partly due to warmer lake temperatures, leading to enhanced lake-effect snow.

While we’re all bundling up and starting to stay indoors, nature is on the move—bird migration is in full swing, with thousands of feathered friends traveling through the region. These avians bring attention to the critical role Midwest ecosystems play in migration routes. If you’re feeling passionate about the annual migration, you can track migration paths here. And of course, for those looking to make the most of winter, now’s the time to snowball ideas for seasonal offerings. At Pokagon State Park in Indiana or Cuyahoga Valley National Park in Ohio, you can toboggan and reach speeds upwards of 40 mph. While there aren’t a ton of skiing hubs in the Midwest, Wisconsin and Michigan lead the charge with resorts like Boyne Mountain and Granite Peak. For the ice skating buffs, Minneapolis, Indianapolis and Chicago all open their outdoor skating rinks annually in the heart of their downtowns. From Chicago to Carmel, IN to St. Charles, MO there are plenty of winter traditions happening across the Midwest to make the most of the chillier time of year.

Whether you’re exploring winter tourism, launching a cozy indoor experience or just trying to stay cool under snowy conditions, embracing the season’s challenges can help startups weather whatever comes their way. Find all the latest funding announcements down below!

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

📰 Notable News

Exits

• Chicago-based Grubhub to be acquired by Wonder for $650M, following their $7.3B acquisition by JET in 2020

• Pittsburgh-based SeqCenter was acquired by ARCHIMED for an undisclosed amount

Startup Funding

• Brightpick - $12M round led by EBRD Venture Capital | Erlanger, KY

• Continuum - $4.1M Seed led by Cowboy Ventures with participation from M25, Clocktower Ventures and Cambrian | Chicago

• Autoplay - $2.1M Pre-Seed led by Drive Capital | Chicago + New York

• Carvis - $1.2M Pre-Seed led by Trucks Venture Capital | Troy, MI + San Mateo

VC Funds

• Northwestern Mutual - $473M Mutual Capital Equity Fund VII | Milwaukee

• Chicago Ventures - $80M FIV | Chicago

Other News

• UChicago gets $75M from AbbVie Foundation for new cancer center

• Duolingo sees increase in revenue, user count in third quarter

• Foxtrot returns to Fulton Market this week

• Global Fund Performance Report (with preliminary Q2 2024 data)

• AI Trends for enterprise to monitor in 2025

📆 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]