What is fueling Flyover Country innovation? In this weekly feature, we share a variety of announcements covering funding, acquisitions, exits, grants and everything in between. Got something to celebrate? Click here to share your story.
- CINCINNATI, OH—Enable Injections, which develops drug delivery systems designed to administer high volumes of therapeutics, has raised a $215 million Series C led by Magnetar Capital. Additional investors included Cintrifuse, Ohio Innovation Fund, Squarepoint Capital, and Woody Creek Capital Partners. [You can read our interview with Enable Injections CEO Mike Hooven by clicking here].
- TULSA, OK—At the turn of the 20th century, Tulsa was home to what was dubbed “Black Wall Street,” a Black economic and cultural mecca. The community was decimated due to a rampage by a white mob in 1921. Now, the founders of Black and Latino companies are going to be part of the first cohort of ACT House. The accelerator will be geared to harvest minority-led startups with coaching, programming, and other services. Each company will get a $70,000 capital investment to help build its business.
- CARMEL, IN—Lumavate, a SaaS company that empowers enterprises to create mobile apps without needing developers, closed a $6 million funding round. The funding will support scaling Lumavate’s go-to-market team and continued platform innovation for businesses to design, build, and deploy mobile apps faster without requiring development resources. The round was co-led by Gutbrain Ventures and PBJ Capital, with participation from Allos Ventures, BioCrossroads, Collina Ventures, and 4G Ventures.
- RALEIGH, NC—Fintech startup Finmark has raised a $6.5 million seed round from a group of investors that includes the venture capital arm of American Express, Bessemer Venture Partners and Durham’s IDEA Fund. The company makes financial modeling software that provides an alternative to Excel spreadsheets and other financial planning platforms. Finmark’s CEO Rami Essaid said he hopes to use the seed round money to expand Finmark’s customer base.