An Ozaukee County venture capital fund participated in a round of Series A funding for a Cincinnati tech startup building an Uber-like last-mile delivery platform.
The startup, Frayt, said Tuesday it has closed a $7 million round as it looks to roll out a new product offering and build its team. The financing was led by Cincinnati-based Refinery Ventures with participation from Wisconsin’s Capital Midwest Fund, Atlanta-based Venture 53 and JobsOhio.
Based in Mequon, Capital Midwest Fund invests in revenue-stage companies in the central U.S. with a focus on technology firms that serve enterprise industrial and manufacturing customers. In late 2021, it announced it had raised the first $41 million for its fourth fund.
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