Twelfth Edition: Startup Iowa Hot List
Meet the startups to support and watch in Iowa + beyond
Every month, I write a newsletter for Iowa entrepreneurs to get more connected to the strong networks of support in the Midwest (and beyond). Investors, entrepreneurs, mentors, corporate leaders, economic developers, researchers, and educators in and outside Iowa can dial in on the startup activity happening across the state while finding the next business to support.
Welcome to the 39 new Startup Iowa Hot List members who have joined us since the last edition. Join 444 intelligent, curious, and supportive startup champions by subscribing below.
Actively Raising
🚀Haber Technologies
Highlights: Haber Technologies is a grain technology startup that is creating a connected & traceable food supply chain. Their patented DRI-Stack® system is helping farmers sustainably dry, condition & manage 1M+ bushels of grain across ten states. They recently announced the launch of Auto-Bin, which empowers farmers to control & monitor their bin site from the comfort of their homes.
Raising: $2,000,000; Committed: $250,000
Backed by: Ag Ventures Alliance, Ag Startup Engine, Innovation Livestock Services, and 10+ angel investors
Leadership team: Dillon Hurd, president & co-founder; Eric Harweger, CTO & co-founder; Steven Brockshus, COO
Contact: steven@haber-tech.com + web; HQ: Ames, Iowa
Can you help? The team is building out its advisory team and is looking for forward-thinking grain scientists, farmers & agricultural economists to add to their expertise!
🚀Spanton Dynamics
Highlights: Spanton Dynamics has created a patent-pending, power-driven spine board that contours underneath an injured person and operates like a conveyor belt. The Spanton Board can be used in a variety of medical applications. The Spanton Board has been showcased at dozens of expos and demonstrated to professional athletes. The team is testing with the NFL, military, and emergency medical services market.
Raising: $1,250,000 Committed: $250,000
Backed by: IEDA, Wellmark Venture Capital Fund, Iowa Startup Accelerator
Co-founded by: Anna Spanton and John Spanton; Executive Summary
Certified as an Iowa Women’s Business Enterprise
Contact: anna@spantondynamics.com + web; HQ: Fairfield, Iowa
🚀Want to be featured? Looking for more Iowa businesses for investment?
For a list of more startups actively raising (that may not appear in this newsletter) or to be featured in the next edition, reach out!
Missed a monthly digest? Check out the Startup Iowa Hot List archives for companies raising here.
Closed Rounds
💰Brale (Des Moines) closed an $11 million Series A round led by New Enterprise Associates with additional participation from Matthew Prince (CEO of Cloudflare) and Albert Wenger (Managing Partner at USV).
💰Growers Edge (Johnston) closed a $15 million Series B round led by S2G Ventures and Cox Enterprises, with participation from iSelect Fund, Skyline Global Partners, Finistere Ventures, and Bunge.
💰OpenLoop (Des Moines) closed a $15 million Series A round led by Nava Ventures with participation from Unity Point Health Ventures, PrimeTime Ventures, SpringTide Ventures, and ManchesterStory.
💰Pitchly (Des Moines) closed a $7 million Series A round led by Homegrown Capital with participation from Jason Calacanis’ Launch Fund, Next Level Ventures, ISA Ventures, Great North Ventures, M25, and Cabra.vc.
State Funding Announcements
Iowa Economic Development Authority announced four startups that received financial assistance, including:
AxisU awarded $100,000 for Demonstration Fund
Enceinte Health awarded $100,000 for Demonstration Fund
MetaFuel awarded $50,000 for Proof of Commercial Relevance
Shaka Culture awarded $100,000 for Demonstration Fund
Mergers & Acquisitions
+ OpenLoop acquires Imaging Panda
+ Winnebago buys battery maker, Lithionic Battery
Applications Open for the Pappajohn Iowa Entrepreneurial Venture Competition
The competition will award $100,000 in cash prizes to Iowa startups and entrepreneurial ventures. Applications are now open through May 15. Iowa businesses in any industry that have been in operation for four years or less, or have yet to be cash-flow positive, are eligible to apply. Learn more and apply at pappajohncompetition.com
On the Horizon: Companies to Watch
AMOS Power - Builds fully electronic and autonomous mid-size tractors for agriculture production, including vineyards, row crops, and vegetable beds
ReFocus AI - Develops software for insurance companies to identify customers who are most likely to leave using AI-powered retention data
Steel Therapeutics - Increases access to life-changing therapies with track records of efficacy from compounding pharmacies
Smart Agri Labs - Builds a secured, unbiased data-sharing platform that supports farmers in their strategic decisions
Twister’s Cafe - Creates freeze-at-home pet treats using powdered natural ingredients to support digestive and oral health
Upcoming Events
📅 April 11-12 - Iowa Rural Summit
📅 April 18-20 - Global Insurance Symposium + GIA Demo Day
📅 April 20 - Business Transition Planning Workshop
📅 April 20-21 - Black & Brown Business Summit
📅 May 4 - AngelFest
📅 June 8-9 - EntreFEST
Story + Sound Bites
🔊Entrepreneurship in Rural Iowa with Bill Menner (Small Business & Startup Stories DSM Podcast)
🔊Blk & Bold Turns 5: Founder Pernell Cezar explains specialty coffee (The Iowa Podcast)
🗞️An Iowa high schooler invented an infection-detecting suture: Now she’s a CEO (DSM Register)
🗞️Clay & Milk going on indefinite hiatus (Clay & Milk)
🗞️Far-reaching Silicon Valley Bank collapse affects some Iowa startups, lenders (DSM Register)
🗞️BrokerTech announces 2023 cohort (innovationIOWA)
🗞️ Basis Theory: The 10 most innovative companies in security of 2023 (Fast Company)
What’s in a name? The Startup Iowa Hot List is specially curated with a rush of urgency to read just before the news cools. See a company you are interested in helping? Please act and support entrepreneurs that may be featured on this list and those close by, impacting our local communities and neighborhoods.
Entrepreneurship has always been a community sport.
Want to be featured in the next Startup Iowa Hot List? Reach out to Diana at dwright@dsmpartnership.com.