Bitwise Industries, a Fresno-based tech company, has raised $50 million in Series B funding from investors including Kapor Capital, JPMorgan Chase, Motley Fool Ventures and ProMedica. The round values the company's expansion into Toledo, Ohio, marking its first venture outside California. The funding will transform Toledo's historic Jefferson Center into a technology training, incubator and coworking hub. ProMedica is contributing $60 million to downtown revitalisation, creating a partnership that combines healthcare, education and tech entrepreneurship. Bitwise's model focuses on workforce development and startup incubation in underserved cities. The Toledo project targets the struggling Great Lakes manufacturing belt, aiming to create high-wage jobs through training and apprenticeship programmes. The initiative could establish a scalable framework for similar projects across the Midwest.

Parento, a provider of paid parental leave insurance, raised $5.9M in a Seed II round led by ResilienceVC, bringing its total funding to $10.3M. The company offers a three-in-one parental leave platform, combining insurance, leave management, and parent coaching. Parento aims to make parental leave accessible to small and mid-sized businesses, with 95% of parents returning to work post-leave. The funding will support product development, sales, and marketing expansion.