Milwaukee startup Lumanu Inc. has raised a $1 million seed funding round with help from some local investors.
Milwaukee-based Northwestern Mutual Life Insurance Co.’s Cream City Venture Capital and Milwaukee-based startup accelerator gener8tor contributed to the round, along with San Francisco-based early stage venture fund 500 Startups, San Francisco-based startup investment capital firm Right Side Capital Management LLC and former Macy’s chief growth officer Peter Sachse. Last year, Lumanu received a $50,000 investment from Milwaukee-based BrightStar Wisconsin Foundation Inc., which is part of the round.
Northwestern Mutual, the lead investor, will also provide mentorship, resources and co-working space for Lumanu at a new innovation lab at its headquarters in downtown Milwaukee. The co-working space is currently being built out, so Lumanu will move in to a temporary space at the Tower & Commons in May and then the innovation lab on July 1, said Tony Tran, co-founder of Lumanu. Northwestern Mutual’s other Cream City Venture Capital portfolio company, Socialeads, will also be in the innovation lab. Read the full story here.