Top 11 Indiana Startups to Watch in 2026
Indiana's startup scene is defined by its industrial diversity, spanning from advanced manufacturing to enterprise software. The state hosts a range of companies from early-stage ventures to more mature businesses.
For instance, workplace productivity platform Formstack has raised $425 million. In contrast, ReElement Technologies is developing metal recovery solutions with $22 million in funding.
Below is our list of 11 Indiana startups worth keeping an eye on.
Failory's Top 10 Picks
ReElement Technologies has developed a chromatography-based system for recovering and purifying critical metals. Their solutions help create a domestic supply chain for rare earth and battery-grade materials by recycling them from end-of-life products.
| Year Founded | 2017 |
| Founders | — |
| Funding Amount | $22M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Debt Financing |
| Top Investors | U.S. Department of Defense, Maxus Capital Group |
ConverSight built a decision intelligence platform that uses its AI assistant, Athena, to deliver business insights. Their system combines generative AI and advanced analytics, allowing teams to get direct answers from complex company data.
| Year Founded | 2017 |
| Founders | Ganesh Gandhieswaran, Gopinath Jaganmohan |
| Funding Amount | $16M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Series A |
| Top Investors | Techstars, Rev1 Ventures, Augment Ventures, Surface Ventures, Elevate Ventures |
Scale Computing builds IT infrastructure products that replace complex traditional systems with a single, unified platform. Their core offering, the HC3 software, integrates servers, storage, and virtualization to help organizations run applications, particularly in edge computing environments.
| Year Founded | 2007 |
| Founders | Ehren Maedge, Jason Collier, Jeff Ready, Mike Olson, Scott Loughmiller |
| Funding Amount | $202.8M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Venture Round |
| Top Investors | Benchmark, Scale Venture Partners, Lenovo, Allos Ventures, Northgate Capital |
Sanctuary Wealth operates a platform for elite financial advisors looking to launch and own their independent wealth management firms. Their partnered independence model provides these firms with the technology, compliance, and operational support needed to serve their clients.
| Year Founded | 2018 |
| Founders | — |
| Funding Amount | $175M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Convertible Note |
| Top Investors | Kennedy Lewis Investment Management |
Ekkobar has developed an AI analytics platform designed for organizations in media, entertainment, politics, and sports. The software translates complex data into narrative insights, helping clients understand the story behind the numbers.
| Year Founded | 2019 |
| Founders | Amber Dodson, Rhys Ryan |
| Funding Amount | $950k |
| Startup Size | Founding Team (1-10) |
| Last Funding Status | Seed |
| Top Investors | Elevate Ventures, Comcast NBCUniversal SportsTech, Taissa Maleh |
Tempo builds a personalized assistance and payments platform that blends human support with AI. Their team of experts and AI work together to handle daily needs for users, from making reservations to managing personal errands.
| Year Founded | 2024 |
| Founders | — |
| Funding Amount | $3.5M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Seed |
| Top Investors | MAYA Capital, Norte Ventures |
Springbuk's health intelligence platform helps employers and consultants use data to prevent disease. The software provides predictive insights to manage healthcare investments and proactively identify health risks.
| Year Founded | 2015 |
| Founders | Phil Daniels, Rod Reasen |
| Funding Amount | $42.4M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | Sovereign’s Capital, HealthQuest Capital, Elevate Ventures, Lewis & Clark Ventures, Cambia Health Solutions |
Bloomerang develops a CRM platform that helps nonprofits manage their donor relationships and fundraising efforts. Their tools are designed to analyze donor data, helping organizations build stronger connections with supporters and raise more money.
| Year Founded | 2012 |
| Founders | Jay Love, Melissa Signorelli, Rob Signorelli, Ross Hendrickson |
| Funding Amount | $33.9M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | JMI Equity, Warburg Pincus, CIBC, Kristian Andersen |
Formstack offers a workplace productivity platform that helps organizations digitize processes and automate workflows without writing any code. Their suite of tools allows teams to build everything from complex surveys to automated document workflows, all through a user-friendly interface.
| Year Founded | 2006 |
| Founders | Ade Olonoh |
| Funding Amount | $425M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Private Equity |
| Top Investors | Alumni Ventures, BoxGroup, Goodwater Capital, Techstars, Slow Ventures |
First Savings Financial Group operates a community bank that provides personal and business banking services. They offer a suite of financial products designed to support both individual customers and local businesses.
| Year Founded | 1937 |
| Founders | Larry Myers |
| Funding Amount | $20M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Debt Financing |
| Top Investors | — |
1 Additional Indiana Startup Worth Following
Those ten companies are a great snapshot, but the full picture of Indiana's startup community is much larger. Founders across the state are building and growing their businesses every day.
Some are more established, like marketplace platforms that have raised tens of millions of dollars. Here’s a look at another company helping to define the state's startup scene.
| Startup | Industry | Year Founded | Amount Raised | Last Funding Round |
|---|---|---|---|---|
 OneCause | Marketplace | 2008 | $27.6M | Venture Round |
