This is our round up of Chicago tech and startup companies that received venture capital investments during the month of May. If we missed one, let us know at info@chicagoinno.com.
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May was the slowest month for venture capital funding that Chicago saw so far this year.
Over the course of the month, local tech and startup companies raised just over $10 million—the lowest monthly fundraising number of 2018, according to data compiled by Chicago Inno. In April, Chicago tech and startup companies raised more than $110 million, and in March, they raised over $124 million.
The largest funding rounds in May came from Fixer, raising $4 million, and Provi, which raised $3.5 million.
Below are six Chicago tech and startup companies that raised money in May.
Autism in Motion Clinics: The startup, which goes by AIM for short, provides autism therapy to children in rural communities throughout the U.S. In May, they won first place and $45,000 at the University of Chicago’s Social New Venture Challenge. Founded by George Boghos and Frankie Schiller, AIM sets up and operates autism clinics in markets that have substantial and underserved populations of children with the condition. They currently have a pilot program running in Arkansas.
For a look at all the cash prizes awarded at the SNVC, go here.
Fixer: The startup, led by Grubhub co-founder Mike Evans, raised $4 million in a funding round led by Cambridge, Ma.-based VC firm Founder Collective. Other backers included Impact Engine, Hyde Park Venture Partners and OATV. Fixer, an on-demand handyman service that sends a professional to your door to handle electrical, plumbing, carpentry and other household issues, has now raised $5 million to date.
Manifest: The student startup out of the University of Chicago won $315,000, $20,000 of which was from Prizker Group Venture Capital, at the college’s New Venture Challenge. The startup makes a software that standardizes 401(k) transfers. They sell it to 401(k) providers, like Vanguard or Fidelity, to help them save them time and money when their clients transfer funds from one 401(k) account to another.
For a look at all the cash prizes awarded at the NVC, go here.
NUMiX Materials: The startup that’s made a technology to remove toxic metals from water won first place and $30,000 at Northwestern University’s VentureCat competition. The company says it will use the funds to scale up production of its platform. NUMiX provides industrial water treatment solutions from a platform of patented ion exchange materials that it says can remove toxic heavy metals more efficiently than current technology. Their suite of sorbent powder products could be used to clean metals out of industrial wastewater or to recover silver in manufacturing processes.
VentureCat isn’t the first competition the startup has won recently. Back in April, NUMiX won the clean energy prize and $50,000 at the Rice Business Plan Competition.
For a look at all the cash prizes awarded at the VentureCat, go here.
Provi: The e-commerce marketplace that’s helping bars and restaurants order alcohol more efficiently, raised $3.5 million in a seed funding round, led by Hyde Park Angels, Hyde Park Venture Partners, Ludlow Ventures, Sandalphon Capital and others. The startup, launched in 2016 by CEO Taylor Katzman, has now raised a total of $5 million. It raised $1.4 million in 2016 from some of the same firms and angels who are back in this latest round.
The new funding will be used to hire more employees and expand to more states. They currently operate in Illinois, Colorado and Georgia, but are looking to launch in Tennessee soon.
The Mom Project: The local startup that’s built an online platform to connect employers to viable female candidates, raised $2.6 million in a seed round led by the Atlanta Seed Company, with participation from Chicago-based OCA Ventures, BBG Ventures, Wintrust Ventures and IrishAngels. The Mom Project, founded in 2016 by Allison Robinson, also received funding from the largest corporate VC group, Engage VC, which includes companies, such as AT&T, Delta Air Lines and Chick-fil-A, among others.
The startup says it will use the new funding to support the platform’s expansion to other cities, as well as technology investments that allow them to streamline how they match candidates with the most relevant opportunities.
