On the search for tea at the grocery store! 🍎👀

⏰ Midwest Minute 

In the latest scoop from the aisles of the Midwest, it seems the grocery world is experiencing quite a few cleanups in aisle…all of them. We’ve got the latest in grocery updates from the Midwest, where the nation’s breadbasket is also bringing some of the biggest grocery drama this week.

Chicago-HQ’d Foxtrot and Dom's Kitchen & Market locations unexpectedly closed their doors, just five months after they announced their merger. Foxtrot, once a beacon for adventurous shoppers seeking artisanal delights, like the food gems you might find on Thingtesting, served as a launching pad for small businesses to showcase new creations. Some former employees are filing a lawsuit due to not being given proper notice before the closure. Their sudden absence leaves us wondering where we'll uncover our next culinary gems. It's a reminder of the delicate nature of supply and demand in the grocery realm.

Meanwhile, in the heart of Cincinnati, Kroger stands as a titan of the grocery game. Their blocked attempt to acquire Albertson's speaks volumes about the strategic maneuvers in this ever-evolving market. Kroger's roots run deep in the Midwest soil, intertwining with the region's rich manufacturing and agricultural history, like with Cincinnati neighbor, P&G, many Midwest states top the charts as the highest food producing states in the U.S. Other grocers are starting to enter Kroger’s territory, even as they lead the way as the largest supermarket chain. As technology continues to weave its threads through every aspect of our lives, from Instacart's virtual aisles to doorstep deliveries, the grocery landscape is undergoing an “express” digital transformation.

Here’s a few of the latest funding announcements from across the region: Chicago-based Continuum announced their oversubscribed Pre-Seed led by M25. Columbus’ Trace announced a $2M round. Chicago’s HPVP announced their Fund IV. More funding announcements below.

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

📰 Notable News

Startup Funding

• iVEAcare - $27.5M Series A led by Vensana Capital | Minneapolis

• Unicorn - $5.8M round from investors | Chicago

• Pelvital - $5M Seed led by Boomerang Ventures | Minneapolis

• Trace - $2M Pre-Seed co-led by Rev1 Ventures and Impellent Ventures | Columbus

• Continuum - $1.7M Pre-Seed led by M25 | Chicago

• Aropha - $1M Seed led by Comeback Capital | Cleveland

VC Funds

• Hyde Park Venture Partners - $98M FIV | Chicago

Other News

• Redbud-Sponsored Missouri Startup Weekend Leaves Solvtax Poised to Be Next Billion-Dollar Alumni

• Dom's Kitchen & Market, Foxtrot closing all stores months after merger

• New program aims to help startups raise VC investment

📆 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]