This is our round up of Chicago tech and startup companies that received venture capital investments during the month of December. If we missed one, let us know at info@chicagoinno.com.
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Chicago tech and startup companies raised at least $111 million in venture capital throughout the month of December, according to data compiled by Chicago Inno.
Throughout 2018, Chicago saw its largest funding rounds of the year in October, when Chicago tech and startup companies raised more than $405 million. The month was led by $100 million rounds raised by local cannabis companies Cresco Labs and Verano Holdings.
The largest funding rounds throughout December, however, came from ErisX, which raised $27.5 million, and Sprout Social, which raised $40.5 million.
Below are 12 Chicago tech and startup companies that raised money in December.
Bitnomial: This Chicago-based bitcoin derivatives exchange, founded in 2015 by Allston Trading vet Luke Hoersten, raised $7.5 million in equity funding, according to a Form D filing.
EDGe Surgical: The medical device startup raised $4 million in a Series A round from undisclosed investors. EDGe, a maker of orthopedic surgery instruments, has now raised $5.7 million to date.
ErisX: The Chicago startup raised $27.5 million in a Series B round from Fidelity Investments, Nasdaq Ventures and Bitmain. Other investors included ConsenSys, Valor Equity Partners and TradeStation Securities’ parent company, Monex Group.
The startup, founded in 2010, is making a software platform that offers individuals and institutions a single place to trade, deposit and withdraw Bitcoin, Ethereum and Litecoin. Pending regulatory approval, the startup expects the platform to be available next year.
Monica + Andy: The e-commerce startup raised $6 million in a Series A round led by Cota Capital and B2 Investment. Monica + Andy sells baby clothes that are delivered to customers' doors in its signature "cuddle boxes." The startup has now raised $12 million to date.
NanoGraf: The Chicago-based battery technology company raised $4.5 million from Tokyo-based chemical company JNC to rebrand from SiNode Systems to NoanoGraf in a joint venture with the investor. Through the deal, NanoGraf is now using JNC’s tech and resources to help it commercialize its Lithium-ion battery tech.
Popular Pays: The influencer marketing startup raised an additional $1.1 million on top of the $5.5 million Series B it raised earlier this year. The new investment came from ICCP SBI Venture Partners and brings Popular Pays' total amount raised to more than $12.5 million.
Proxfinity: The startup, which is the maker of a wearable smart badge for professional networking events that connects people with shared interests, raised $1.2 million in funding. Investors included New Coast Ventures and Streibich Capital.
SonarMD: The Chicago-based company that helps to reduce costs associated with complications from inflammatory bowel diseases such as Crohn’s disease, raised $10 million in venture capital funding from BCBS Venture Partners and Arboretum Ventures.
Sprout Social: The company raised $40.5 million in new funding led by Future Fund, an investment fund led by the Australian Government. Other backers included Goldman Sachs and New Enterprise Associates. Sprout said it will use its latest funding for product improvements and to expand internationally. It has now raised $103.5 million to date.
The Mom Project: The startup, which has built an online platform to connect employers to viable female candidates, raised $8 million in a Series A round led by Grotech Ventures and Initialized Capital. Other investors include Aspect Ventures and existing backers Atlanta Seed Company, Engage Ventures, OCA Ventures, BBG Ventures, IrishAngels and Wintrust Financial. The new round brings The Mom Project’s total funding to $11 million. Earlier this year, the startup raised $2.6 million in a seed round.
Trala: The startup, which has created an app that teaches users how to play the violin, raised $1.29 million in seed funding. The round was led by Chicago’s Origin Ventures, and included backing from Techstars Ventures, LinkedIn CEO Jeff Weiner, and three top executives from language-learning app Duolingo—CEO Luis Von Ahn, VP of Business Bob Meese, and CTO Severin Hacker.
Winestyr: The startup, which helps consumers discover and purchase new wine, raised $3 million in new funding. The round was led by Continental Investors, a Chicago VC firm run by Phillip Purcell, the former chairman and CEO of Morgan Stanley.
