EatStreet Raises $4M in Funding

eat-street-logo-2EatStreet has added an additional $4M in funding to the $6M already raised this year, closing a total Series B round of $10M. EatStreet provides an online ordering platform for 15,000 restaurants in 125 cities across the US. This latest $4M round was led by the State of Wisconsin Investment Board (SWIB) and 4490 Ventures. EatStreet plans to invest heavily in marketing targeting university campuses across the country as well as continue to add restaurants and enter new markets.

Read more from the Wisconsin State Journal here.

MobCraft Equity Crowdfunding Launches

MobCraft-logoAfter months of getting the final pieces to fall into place, the first equity crowdfunding campaign in Wisconsin is finally off the ground. MobCraft Beer officially launched their equity crowdfunding campaign this week via the CraftFund portal and is the first company to utilize this new funding source.

MobCraft intended to start their fundraising campaign immediately after the equity crowdfunding law was passed back in June, but ran into issues with getting banks to sign on as the escrow agent for the funds, which was required by the law. The Wisconsin Bankers Association finally created a template for this type of deal, and Monona State Bank has stepped forward as the escrow agent.

MobCraft intends to raise $250,000 to $500,000 and issue up to 142,857 shares. Wisconsin residents may now purchase shares here over the next 45-90 days. Check out the recent Wisconsin State Journal article here.

Propeller Health Raises $14.5M in Funding

propeller-health-logoPropeller Health recently completed a $14.5M Series B funding round, led by Safeguard Scientifics with participation from The Social+Capital Partnership. Propeller Health will use the funding to accelerate product development, strategic alliances, client services, sales and marketing as it tackles the $100 billion cost of treating asthma and chronic obstructive pulmonary disease (COPD).

Propeller is a digital therapeutic designed to help patients and their physicians better understand and control COPD, asthma and other respiratory disease, reducing preventable emergency room visits, hospitalizations and unnecessary suffering. The company has raised a total of $23M since its 2010 founding.

More information can be found on Xconomy here.

ABODO Raises $1.25M in Funding

abodo-logoThe hyperlocal online rental marketplace ABODO announced today it has closed $1.25 million in Series A financing, led by American Family Ventures. Also joining the round are 4490 Ventures and Lakewest Venture Partners, and this investment is the first for the new 4490 Ventures fund. ABODO is an apartment listing service that has already launched in 6 markets, with plans to expand to 25 nationwide in the coming year. ABODO is a graduate of the 2012 gener8tor accelerator class.

More info about ABODO and their raise can be found here.

PerBlue Raises $3M in Funding

perblueMobile gaming company PerBlue has raised $3M in a Series A-2 funding round lead by Chicago based Lightbank. This funding marked Lightbank’s first investment in a Wisconsin based startup.

PerBlue designs, develops, and publishes mid-core mobile strategy games for Android and iOS platforms. Their games have been played by over 10 million people in 200 countries around the world. For more information on the funding, see coverage on Xconomy and the Wisconsin State Journal.

Venture Investors Raises $80M Fund

ventureinvestorsMadison based Venture Investors has completed fundraising for their fifth fund, which will target 12-15 early stage life science and technology companies over the next 3-5 years. The VC’s latest fund totals $80 million and will primarily target companies in the Midwest. Venture Investors was established in 1982 with its first four funds totaling $177.6M. They have invested in 68 companies to date, including Promega, Third Wave Technologies, and TomoTherapy. Read more about their latest fund here.

Abodo Raises $325k

abodo-logoApartment listing service completed its seed funding round of $325,000 recently, led primarily by Wisconsin based angel investors. Abodo has helped more than 40,000 Madison renters find new apartments in the last 12 months, and plans to continue expansion across the Midwest. Abodo employs 5 full-time people and is a graduate of the Winter 2013 gener8tor class. Read more here.

Madison a Top 20 Area for Venture Capital Per Capita

vc_DEALS_capitawebMadison made the short list of cities with the highest amount of venture capital investment per capita. The Atlantic Cities released a series of posts examining the new geography of venture capital and high-tech startups.

The Silicon Valley (#1) and San Francisco (#2) areas are still by far the top areas for investment, but the remainder of the list is increasingly dominated by smaller metro areas with major colleges that are home to strong research universities. Madison joined college towns including Boulder and Ann Arbor as a “High-Tech Challenger to Silicon Valley”, and had $11.5M invested and 1.9 deals per 100,000 people.

In additional to college towns playing an increasing role in the high-tech startup world, there is a shift in this activity from suburban areas (like Silicon Valley) to more urban areas (like downtown San Francisco). Venture capital and start-up activity today is associated with denser, more talent-driven, more diverse and innovative metros as outlined here.

“Young workers want to live in a city — somewhere they can ride bikes, shop locally, walk to their favorite restaurants and bars, and live in a dense urban or urban-lite environment with nearby amenities,” stated Bruce Katz of the Brookings institution’s Metropolitan Policy Program.

Read the full Atlantic Cities post and see the charts here, and check out an article in the Wisconsin State Journal about it here.

SOLOMO Raises $1.7 Million Series A Round

SOLOMO TECHNOLOGY INC. LOGOSOLOMO Technologies has just closed a $1.7 Million Series A financing round. The round was co-led by Venture Management, LLC and Don Layden, and included participation by Wisconsin Investment Partners. The financing will be used to accelerate SOLOMO’s product development and increase its sales and marketing activities.

The company’s SOLOMO Exchangeâ„¢ platform enables retailers to conduct personalized and localized omni-channel marketing. The platform connects to retailers’ branded mobile applications to support the seamless, trusted exchange of individual customer data. SOLOMO Geoâ„¢, one of the SOLOMO Exchangeâ„¢ services, provides retailers with WiFi-based anonymous indoor location analytics and an array of opt-in localized customer engagement capabilities. More information is available here.

Asthmapolis Raises $5 Million

Asthmapolis_Logo_WebsiteAsthmapolis has just closed a $5 Million Series A round of funding from The Social+Capital Partnership. Asthmapolis makes an FDA approved “smart” asthma inhaler that helps patients and health providers better monitor, visualize, and understand the behavior of asthma by utilizing a sensor that attaches to an inhaler.

Asthmapolis, on the other hand, is on a mission to hack your inhaler.

Asthmapolis will use the funding to build new sensors that work with other inhaled medications, accelerate plans to secure regulatory clearances in countries outside of the US, and also help market their products. For more information, check out articles on TechCrunch and MobiHealthNews.

EatStreet Raises $2 Million

eat-street-logoEatStreet (formerly UConnect) has just completed a $2 million Series A financing round led by Cornerstone Opportunity Partners, with Great Oaks Venture Capital, Independence Equity, and Gener8tor also participating in the round. EatStreet is a free online ordering service that connects customers with restaurants, and the new capital will enable EatStreet’s expansion into new markets.

Since its launch in 2010 and completion of the Gener8tor Accelerator Program, EatStreet has brought its online ordering platform to over 700 restaurants in 18 markets across the country.

“We have a strong platform and we are ready to use this investment to scale to new markets across the country.” – EatStreet CEO and Co-Founder Matt Howard.

EatStreet is projected to sign over 1,000 restaurants this year and establish an additional 30 markets. Howard says the company is expanding to service larger corporate restaurant chains and will soon offer tablets to current partnered restaurants.

Mithridion raises $1.25 million

Madison biopharmaceutical company Mithridion recently secured $1.25 million in funding from Venture Investors, The State of Wisconsin Investment Board, and Rocket Venture Fund. Mithridion is developing drug candidates that focus on serious Central Nervous System disorders, including Alzheimer’s disease. From their press release:

“We plan to use this new funding to explore additional niche disease targets for MCD-386CR,
our lead clinical drug candidate, which is a new strategy for the company, to seek partners for
our drug candidates MCD-386CR and MI-10-022 for Alzheimer’s disease (AD) and
schizophrenia, and to augment our science advisory board and board of directors,” said Trevor
M. Twose, Ph.D., the company’s Chief Executive. “We greatly appreciate the continued
confidence of our shareholders,” he added.

PerBlue Raises $800,000 Angel Round from Golden Angels and West Coast Angels

Capital Entrepreneurs founding member PerBlue just closed an $800,000 angel round led by Tim Keane‘s Golden Angels out of Milwaukee and other angel groups from San Francisco and Seattle.  PerBlue is a social gaming company that creates mobile games for iPhone, Android and other mobile platforms.  Their flagship product, Parallel Kingdom, has over 200k users around the world.

From Kathleen Gallagher’s article in the Milwaukee Journal Sentinel:

Investors in the round included angels from Seattle and San Francisco, said Justin Beck, PerBlue Inc.’s 23-year-old chief executive officer.

PerBlue manages a multi-player game called Parallel Kingdom that uses players’ GPS locations to place them in a virtual world. If you fire up the free application on your Android or iPhone in downtown Milwaukee, that’s where you are in the game.

Players wield weapons, hunt creatures, master combat training and other skills and have opportunities to do things such as form alliances, control territory and establish cities. They move around by either physically traveling to new locations or making friends who invite them to travel to new places.

PerBlue has nine employees and makes money by selling “food” to its more than 200,000 player accounts, Beck said.

Location-based games are “white hot” because of the popularity of social media outlets such as Foursquare, Gowalla and Booyah, said Richard Kain, general manager of TriplePoint PR and a San Francisco-area angel investor who participated in the funding round.