JumpStart Ventures | Branch lands $75M | $22M in manufacturing grants Iowa
JumpStart introduces new funding venture
CLEVELAND, OH—JumpStart Inc. is announcing a new division focused on the organization’s VC investment activity. JumpStart Ventures will provide Pre-seed, Seed, and Series A funding to early-stage technology startups throughout Ohio. JumpStart Ventures has $140M under management across four funds — Evergreen, NEXT, Focus, and the Healthcare Collaboration Fund — providing capital across stages and sectors enabling tech founders to start and scale their firms in Ohio.
Branch secures $75M
MINNEAPOLIS, MN–Branch, a tech company that assists gig and hourly workers manage schedules and payments, has secured a $75 million Series C funding round. Branch’s offerings include instant, digital payouts of tips, wages, off-cycle, and contractor payments; free earned wage access; zero-fee banking; and an accessible paycard alternative. The funding round was led by Addition, participation from General Atlantic, Drive Capital, Crosscut Ventures, and Indeed.
Indy startup raises $4.6M in funding round
INDIANAPOLIS, IN–MITO Material Solutions Inc., a startup that makes a high-tech polymer additive used in sporting goods, automotive and aerospace, has raised $4.6 million in a funding round. The four-year-old company said the funding came from a seed extension by existing and new MITO investors. MITO said it will use the investment to expand its Indianapolis operations, including new lab space for developing products and new composite material technologies. The company’s high-tech polymer additive is used in sporting goods, automotive and aerospace.
Iowa awards $22M in innovation grants
IOWA–The Iowa Economic Development Authority (IEDA) announced that $22 million in Manufacturing 4.0 Workforce Innovation grants have been awarded to 46 companies in Iowa. These grants are geared toward Iowa manufacturers with 76-250 employees across locations investing in Industry 4.0 technologies to address workforce issues exacerbated by the negative impacts of COVID-19.