One, two, three strikes… ⚾️ your Midwest Startups content is here!

⏰ Midwest Minute 

The Midwest isn’t just a field of dreams for startup founders; it’s a home run of history and quirky traditions for baseball fans. With multiple major league and minor league teams across the region, there’s a lot to unpack. Take Cleveland’s iconic Stadium Mustard vs. Ball Park Mustard feud or the Famous Racing Sausages in Milwaukee—these saucy local loyalties are some of the things that make Midwest baseball culture so special. If you’re more interested in the game’s culinary offerings, the Minnesota Twins and Milwaukee Brewers boast some of the cheapest hot dogs and brews in the Midwest, proving you don’t have to break the bank to enjoy a day at the ballpark. Cleveland Guardians' Progressive Field also offers nine different Dollar Dog Days, making it a wiener winner for fans who relish a good deal.

Baseball history in the Midwest is as rich as its traditions. The St. Louis Cardinals, with their 11 World Series wins (second behind the Yankees), are a testament to long-term success and enduring fan support. Chicago’s Wrigley Field, which opened in 1914 and second oldest only to Fenway, is a living museum of baseball lore, where every game feels like a trip back in time—including their historical 2016 World Series win after a 108 year drought. The "Field of Dreams" site in Iowa, now opening a hotel, continues to draw fans to its storied cornfield, showing that if you build it, they will come. The Savannah Bananas, known for their entertaining games, are bringing their unique style to multiple Midwest cities, adding a pinch of fun to the classic pastime. Meanwhile, the "Baseball Sleep Radio" offers up fake baseball game content for fans and non-fans alike—ideal for catching some Zs rather than baseballs. Go catch your favorite teams across the region this summer!

Up on deck, the latest funding announcements plus a unicorn alert! Pittsburgh-based Skild AI announced a $300M Series A at a $1.5B valuation. Chicago-based AbbVie acquired Celsius Therapeutics for $250M while St. Louis-based Capacity acquired two companies. Minneapolis’ Pear Commerce raised a $10M Series A. More of the latest below.

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

📰 Notable News

Exits

• Chicago-based AbbVie acquired Celsius Therapeutics for $250M 

• Minneapolis-based Outsell acquired by Impel for $100M+

• St. Louis-based Capacity acquired CereProc and SmartAction for an undisclosed amount

Startup Funding

• Skild AI - $300M Series A at a $1.5B valuation co-led by Lightspeed, Coatue, Softbank and Jeff Bezos | Pittsburgh

• Endogenex - $88M Series C led by an undisclosed investor | Minneapolis

• Tierra Encantada - $38M investment from Susquehanna Growth Equity | Minneapolis

• Aether Fuels - $34M Series A led by AP Ventures | Chicago

• Quantum Rise - $15M Seed led by Erie Street Growth Partners | Chicago

• Tembo - $14M Series A led by GreatPoint Ventures | Cincinnati

• Pieces - $13.5M Series A led by Drive Capital | Cincinnati

• Pear Commerce - $10M Series A led by Stage2 Capital with participation from M25 | Minneapolis

• Hoodie Analytics - $5M round led by Measure 8 Partners | Chicago

• NodaFi - $3.5M Seed led by Base10 Partners | Milwaukee

Other News

• Rally In-Prize Pitch Competition 2024 IN-Prize Pitch finalists and alternates announced

• Global VC fundraising on track for worst year since 2015

• Minnesota's medical-device companies lead state in revenue growth

• Evolve Bank says ransomware gang stole personal data on millions of customers

• Creator Startups Have Already Raised as Much Money This Year as in All of 2023

📆 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]