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The Big One: Climate tech on display in Chicago this week
P33 is hosting its second annual Chicago Climate Tech Week this week to showcase what's next for the industry in Chicago. It's a chance for innovators, entrepreneurs, industry leaders and investors to network, and to hear the latest on the region's climate innovation ecosystem. The week will include speakers from LanzJet, Rivian, Invenergy, ComEd, TCCI Manufacturing, Ocient and more.
"Chicago has as much of a right to win in quantum as anyone, and I think that's true in technology and in climate," Chris Gladwin, CEO of Ocient, told Chicago Inno. "There's a lot of climate investors in Chicago, and there have been for a long time."
Fueled by recent interest from the local business community to see how climate change will impact their businesses, this week's events hope to be an opportunity to "build community" and create a "positive flywheel effect" when it comes to Chicago's climate tech workforce.
Events are ongoing through Thursday at locations throughout the city including 1871 and mHub.
READ MORE: Climate tech is on display in Chicago this week — here's why and where
Startups making headlines
- Another Foxtrot store will reopen in Old Town this Thursday. The Old Town store, located at the intersection of North Avenue and Wells Street, will be the second location to open since Foxtrot's original co-founder Mike LaVitola announced plans to reopen several locations in Chicago and Texas. Foxtrot's new layout will be "simpler" for customers and employees alike, and that his team "gutted" everything they were doing in the cafe.
- Clean chemistry startup Mattiq has appointed a new chief commercial officer, bringing in Duane Dickson, Deloitte LLP's former vice chairman and principal of its Energy, Resources and Industrials group. Before Dickson retired, he led the U.S. Oil, Gas & Chemicals Sector for the group.
- Chicago health care incubator and innovation hub Matter was selected by the Biomedical Advanced Research and Development Authority as the digital health hub for its accelerator network. Matter joins four other hubs as part of the network, each focusing on a different area.
Real estate-focused VC firm raises new fund
A Chicago venture capital firm that invests in real estate-related startups just raised its third fund to back more tech firms.
Moderne Ventures announced Monday that it has secured $230 million for its third fund, bringing its total assets under management to more than $500 million.
The fund has received investment from institutional investors including GCM Grosvenor and the Illinois Growth and Innovation Fund and other strategic partners like AvalonBay and Essent.
Led by Constance Freedman and Liza Benson, Moderne has made more than 35 investments and backed more than 150 companies with a focus on real estate finance, insurance and home-services startups.
READ MORE: Moderne Ventures closes second fund — here's where they'll invest it
DubClub helps sports bettors make more money
A Chicago-based tech platform that connects sports content creators with their subscribers recently landed new funding just as the NFL is getting underway.
DubClub closed earlier this month on $7.5 million in Series A funding led by Roseanne Wincek of Renegade Partners. The round included participation from Dave Gilboa of Warby Parker.
The new financing brings DubClub's total funding to date to more than $10 million after closing a $3 million seed round in 2022 led by Tripp Jones of Uncork Capital and Brian Reilly of Will Ventures.
Through the platform, cappers — or sports handicappers that study and wager on sports events — get paid by publishing their bets on DubClub, where amateur sports bettors can subscribe to their exclusive content and insights. Cappers set their own rates, with DubClub providing the tools to automate the logistics and grow their subscriber base.
Co-founder Lewis Burik hopes the new funding will give him more "firepower" to continue to grow his team.
READ MORE: How Chicago startup DubClub aims to help sports cappers and bettors make more money
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