Five Midwest startups announced a combined $41.2 million in disclosed funding in the last week of October, up to October 30.
Columbus-based Erebor Bank led with $30 million from Robinhood Ventures Fund I, which bought preferred stock in the bank. It was followed by a $10.5 million Series A for Blue Arbor Technologies, a University of Michigan spinout in Grass Lake that is developing neuromuscular interfaces for prosthetic limbs, in a round its strategic partner Ottobock opened with $5 million in February. Evansville's Anu, which makes compostable seed pods for automated indoor farming, won a $500,000 National Science Foundation grant, and Brighton drone maker Blueflite took a $245,000 state grant to test flying donor organs to Michigan Medicine. Minneapolis medical device company GT Metabolic Solutions rounded out the week with a Series C growth investment led by J.P. Morgan Life Sciences Private Capital, though it didn't disclose the amount.
Here are all the Midwest investments from across the great states of Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin that we've been able to track and verify this week, ending October 30th, 2026.
As always, every company and investor below can also be found in our startups and investors database.
While you're here: If you'd like to make sure you're notified about any funds raised from the six states we cover, then make sure you're subscribed to our newsletter
Erebor Bank
Business Type: Blockchain & Crypto
Amount Raised/stage: $30m preferred stock investment from Robinhood Ventures Fund I
What they do:
Offers banking services tailored to defense, hard‑tech, and crypto firms, including blockchain‑enabled payments, crypto‑backed loans, AI infrastructure financing, and expanded industrial lending.
Blue Arbor Technologies
Business Type: Healthtech
Amount Raised/stage: $10.5m Series A led by Ottobock
What they do:
Develops neuromuscular interface systems enabling intuitive, precise control of prosthetic limbs through external and implantable sensors, advancing clinical studies, FDA designations, and next‑generation prosthetic control solutions.
Anu
Location: Evansville, Indiana
Business Type: Agtech & Food
Amount Raised/stage: $500,000 NSF SBIR Phase IIB grant
What they do:
Develops compostable, seed‑filled plug‑and‑grow pods for automated indoor farming, enabling nutrient‑dense produce with minimal labor through multi‑cavity tooling and aeroponic systems for health‑focused nutrition.
Blueflite
Location: Brighton, Michigan
Business Type: Drones
Amount Raised/stage: $245,000 Michigan Mobility Funding Platform grant
What they do:
Provides autonomous drone logistics for time‑critical organ transport, conducting BVLOS pilot missions to cut delivery time, ensure payload safety, and create replicable infrastructure for medical deliveries.
GT Metabolic Solutions
Location: Minneapolis, Minnesota
Business Type: Healthtech
Amount Raised/stage: Undisclosed Series C led by J.P. Morgan Life Sciences Private Capital
What they do:
Develops magnetic compression medical devices for incisionless, sutureless gastrointestinal anastomoses, enabling safer, low‑complication surgeries and supporting global commercial launch.
Want to know more?
Read the latest quarterly funding reports for the region and each state here:
Midwest startup funding - Q3 2026
Illinois startup funding - Q3 2026
Indiana startup funding - Q3 2026
Ohio startup funding - Q3 2026
Michigan startup funding - Q3 2026
Minnesota startup funding - Q3 2026
Wisconsin startup funding - Q3 2026
Missed last week? Read Midwest Startup Funding for the week ending October 23, 2026.
While you're here: If you'd like to make sure you're notified about any funds raised from the six states we cover, then make sure you're subscribed to our newsletter
