This is our roundup of Chicago tech and startup companies that received venture capital investments during the last month. If we missed one, let us know at info@chicagoinno.com.
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Chicago tech and startup companies raised at least $215 million in venture capital throughout the month of August, according to data compiled by Chicago Inno.
The month’s fundings were led by SpotHero, which raised $50 million, and LanzaTech, which raised $72 million.
August’s venture capital fundings were significantly up compared to July’s. Last month, Chicago tech and startup companies raised about $148 million.
Below are 13 Chicago tech and startup companies that raised money in August.
BallBox: The startup, which makes electronic locker kiosks that house sporting equipment and leisure items for rent, raised $50,000 from startup accelerator Lair East Labs. Last year, the startup closed a small seed round of $315,000 and it recently installed one of its kiosks at North Ave. beach in July.
CardX: CardX, a Chicago-based B2B fintech startup that helps its clients avoid paying credit card transaction fees, raised $2 million in debt financing from Pace Financial Group. CardX says it has now raised more than $8.6 million in total funding. In 2017 when the startup came out of stealth mode, it raised $2.1 million in an equity round led by NXGEN International in Whitefish, Montana.
Dough: Tastytrade, the Chicago fintech company offering free, accessible content about trading and finance for active investors, invested $20 million into Dough, a new company it’s building. Dough, which is named after tastytrade’s previous front-end trading application that shut down in 2017, is being led by the former director of trading and operations at TD Ameritrade, Victor Jones.
Draftbit: Draftbit, the maker of a drag and drop software platform that allows companies to build mobile apps in days, rather than weeks or months, raised $150,000 from startup accelerator Y Combinator.
Hazel Technologies: Hazel Technologies raised a $13 million Series B round led by Pangaea Ventures, a Vancouver-based VC firm that invests in advanced materials companies. Other backers included Chicago-based S2G Ventures, Asahi Kasei Ventures, Rhapsody Venture Partners, Serra Ventures, Valley Oak Investments, Climate Impact Capital and ImpactAssets. Hazel has now raised nearly $18 million since it launched in 2015. The startup has developed packaging inserts that release anti-fungal vapor that can extend the shelf-life of fruits and vegetables.
Kin: Chicago-based Kin, an insuretech startup that’s created an easier way to buy home insurance, raised $47 million in a round led by August Capital. Hudson Structured Capital Management (HSCM Bermuda), Avanta, the UChicago Startup Investment Program and existing investors also participated.
Founded in 2016, Kin last raised $12 million in 2018 to continue growing its insurance platform that allows it to make underwriting decisions quickly based on data from satellite images, public records and other sources.
LanzaTech: Chicago-based LanzaTech raised $72 million in a Series E round from Novo Holdings, a Danish investment firm that backs life science companies. The round brings LanzaTech’s total funding to more than $300 million since it was founded in 2005. LanzaTech has built a platform that recycles carbon pollution and turns it into ethanol that can be used to fuel jets.
Mavely: Mavely raised $1 million in funding from PivotNorth Capital, a Silicon Valley VC firm that’s invested in companies such as Looker, Chime and Sun Basket. The Chicago startup aims to help brands spend less money on Facebook and Instagram ads with a shopping rewards app that helps consumers earn cash back on purchases they make.
metaMe Health: Chicago startup metaMe Health raised $3.8 million in a funding round led by LionBird Ventures, a Tel Aviv and Chicago-based venture firm that backs digital health startups. Silicon Valley-based Hemi Ventures also participated in the round. Founded in 2016 by Daniel Bernstein, metaMe has developed a product called Regulora, a tool that uses digital therapeutics to treat gastrointestinal conditions.
SmartWitness: The Chicago-area company that installs cameras inside trucks to improve safety raised $4 million in a Series A funding round from First Analysis, a Chicago-based VC firm. Founded in 2007, Schaumburg-based SmartWitness designs in-vehicle cameras and software for trucking fleets. Fleet operators use SmartWitness to record activity from a variety of views to improve safety and assist in insurance matters following accidents or other incidents.
SpotHero: Chicago parking app SpotHero landed $50 million in a round led by Macquarie Capital, an Australia-based investment bank. Other backers in the round include Insight Venture Partners, Global Founders Capital, OCA Ventures and AutoTech Ventures.
SpotHero has now raised $118 million since it launched in 2011. It’s the latest Chicago startup to crack the VC funding century mark, joining AMP Americas, Fourkites, Sprout Social, and G2 Crowd, who’ve all crossed over $100 million in total capital raised within the last 12 months.
taxProper: The Chicago-based startup, founded this year, raised $150,000 from startup accelerator YCombinator. taxProper has built a tax technology used by government entities to evaluate homes for property tax assessment.
TimeDoc Health: The Chicago startup that’s helping physicians better care for chronically-ill patients raised $2.5 million in a funding round led by Grand Ventures, a Grand Rapids, Mich.-based venture firm that invests in early-stage companies. Champaign, Ill.-based Serra Ventures and Columbus-based Break Trail Ventures also participated.
TimeDoc, founded in 2015, provides healthcare organizations with a software that helps them remotely coordinate care for chronically-ill patients on a continuous, monthly basis. The startup’s tech helps physicians monitor patients outside of face-to-face office visits, which saves time and cuts costs.
