Twentieth 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 18 new Startup Iowa Hot List members who have joined us since the last edition. Join 612 intelligent, curious, and supportive startup champions by subscribing below.
Actively Raising
ðCoco Coders
Highlights: Coco Coders is an impact-driven company that teaches children how to code to prepare them for a future where 92% of jobs will require digital skills. Launched in July 2022, Coco Coders is an edtech service-based subscription business with over $500K of annual recurring revenue. The team behind the startup has edtech veterans, and they are raising this investment round to scale the B2C subscription business.
Raising: $1.75M seed round
Backed by: Amrock Ventures, InnoVenture Iowa, Homegrown Capital, and angel investors
CEO + Founder: Elizabeth Tweedale
Contact: elizabeth@cococoders.com + web; HQ: Des Moines, IA
Can you help? The team is actively trying to form corporate partnerships in Iowa to sponsor established local student bodies. Introductions to companies who would like to support the future workforce by providing access to high-quality coding and tech literacy education.
ðElevator Spaces
Highlights: Elevator is a co-warehousing and flexible workspace for small and medium businesses, with the community at its core. Programming, resources, networking, and access to capital are combined with space to grow businesses. Elevator has a loading dock, daily carrier pick-ups, 24/7 access and monthly memberships to accommodate small business needs.
Raising: $2M (closing round soon)
Founding team: Shannon and Emiliano Lerda. Shannon is from Iowa, and Emiliano is from Argentina. They started an e-commerce company and later discovered the need for co-warehousing with community and logistics support for small businesses.
Contact: shannon@elevatorspaces.com + web
HQ: Omaha, NE (multiple cities, including DSM)
Can you help? Elevatorâs Des Moines location will open in the fall of 2024. The team wants to connect with small business owners in the Des Moines metro. Please email hello@elevatorspaces.com to get in touch, join the waitlist, or share their website with a friend who should know about it: www.elevatorspaces.com.Â
ðkmÅdo
Highlights: kmÅdo is an innovation company with three patented user interface technology systems and methods that support novel products that deliver lower-cost, more effective solutions for consumers and insurance carrier profitability in the life insurance market.Â
Raising: $400,000
Backed by: 22 regional angel investors
Founding team: Brian Clark, former AmerUs Group product, strategy, and finance executive
Contact: brian.clark@kmodo.ai + web; HQ: Des Moines
Can you help? The team is looking for connections to key decision makers at insurance companies selling term life insurance and referrals to marketing executives interested in joining the team looking to revolutionize the life insurance industry.
ðWant 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!
Have you missed a monthly digest? Check out the Startup Iowa Hot List archives for companies raising here.
State Funding Announcements
Iowa Economic Development Authority announced four startups that received financial assistance, including:
Cellular Engineering Technologies awarded $250,000 for the Innovation Acceleration Launch Fund
ReEnvision Ag awarded $175,000 for the Demonstration Fund
PigEasy awarded $175,000 for the Demonstration Fund
MakuSafe awarded $500,000 for the Innovation Acceleration Propel Fund
On the Horizon: Companies to Watch
Act Write Here - Creates a virtual playhouse for creatives that matches writers and actors for screen reads and more
Cellular Engineering Technologies - Develops optimized reagents and human cell lines for next-generation cell-based therapies
ClaimsHero - Makes it easy to appeal denied health claims by creating expert, evidence-based appeals with the patient in mind
Goldfinch Health - Minimizes high-cost claims and optimizes the surgery experience by focusing on enhanced recovery around surgery methods
Grateful - Visions every time the world spends money, someone gives a small portion to provide food for the hungry, shelter for the homeless, and help to thousands of other causes through their Giving software
Pyrone Systems - Develops scalable, bio-based methodologies to create a new-age biopesticide that is more environmentally friendly and more effective than current solutions
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 13. 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
Upcoming Events
Note: This section continues to grow, and I encourage all to support and show up, as many great community organizers are behind the events.
ð April 18-19 - Athene Black & Brown Business Summit (West Des Moines)
ð April 19-20 - Startup Weekend Iowa (Virtual)
ð April 23 - Made in Iowa: HoQ (Des Moines)
ð April 24 - EmpowerHER Summit (Stuart)
ð April 25 - Pi515âs Day of Innovation (Des Moines)
ð May 1-17 - Heartland Hustle: Raising Capital (Dubuque, Creston, Ottumwa, Oskaloosa)
ð May 3-4 - Iowa Veterans Entrepreneurship Conference (Ames)
ð May 2 - Angel Fest (Minneapolis)
ð May 9 - Latina Business Excellence Fair (Des Moines)
ð May 21 - ISU Startup Factory Demo Day (Ames)
ð June 10 - Small Business Success Summit (Des Moines)
ð June 13-14 - EntreFEST (Cedar Rapids)
Story + Sound Bites
ð Pivotal Business Partners: Helping small businesses and entrepreneurs find capital (Startup Stories DSM Podcast)
ð Shelby Smith: Building In A Small Town Podcast
âïž Can we learn about innovation from patent data? (Matt Clancyâs Substack)
ð How to Avoid a Climate Disaster (Bill Gates)
ðïž BrokerTech Ventures announces fifth cohort, two new insurance partners (innovationIOWA)Â
ðïž Meet three startups in Iowa centering sustainability in their solutions (Business Record)
ðïž Choose Iowa Value-Added Grants awarded to 26 farmers, small businesses, and nonprofits (IA Department of Ag)
ðïž West Des Moines-Based Lolaâs Fine Hot Sauce reaches distribution agreement with Walmart (DSM Register)Â
ðïž Oskaloosa Schools launches entrepreneurship initiative (innovationIOWA)Â
Whatâs 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 who 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.