Fireworks weren’t the only highlight of last week. Chicago startups are also busy making moves. From Amazon’s investment in Grubhub to Chime opening a Chicago office, catch up on the latest tech news with the Built In Chicago Weekly Refresh.
Logiwa raised new capital. Logiwa, a software developer for high-volume direct-to-consumer brands, announced that it closed a Series B round that netted $16.4 million. According to the company, the new funds will be used to continue the development of its platform that helps brands increase their warehouse processing capabilities. [Business Wire]
June’s top six funding rounds totaled $107M. Six Chicago tech companies managed to raise $107 million in new funding last month. Elevate K-12, a startup that connects remote substitute teachers to classrooms, closed a $40 million Series B round. Rheaply, a circular economy startup, raised $20 million, Logiwa netted $16.4 million, Web3 video game startup Atmos Labs raised $11 million, Tripscout closed a $10.25 million Series A round and Journea raised $10 million. [Built In Chicago]
Chime announced plans for a Chicago office. Fintech startup Chime has had a Chicago presence since 2019 and over the years has grown its local headcount to 200 employees. The company announced it will open an office in Chicago to house the current local workers and also future hires as the company announced that it has plans to continue hiring local talent. The office is set to be located in the West Loop and will offer workers the flexibility of a hybrid work environment. [Chicago Inno]
Chicago Tech Quote of the Week
Amazon bought equity in GrubHub. Grubhub’s parent company agreed last week to sell 2 percent of its equity to Amazon. With the deal finalized, Amazon Prime members will reap the benefits of the investment by getting access to GrubHub+ at no extra cost. GrubHub+ is originally a $9.99 a month service that includes zero delivery fees when ordering on GrubHub. Prime members will be able to sign up for a free year of the service. [Built In Chicago]
Built In Chicago released its Future 5 companies of Q2. The list of up-and-coming tech startups featured CASHDROP, an e-commerce platform for small businesses; EarlyBird, an investing app for new parents; Quickly, a South Asian food marketplace; Songfinch, a custom music marketplace; and Workbox, a unique co-working startup. [Built In Chicago]
APFusion raised $6.5M. APFusion is a used auto part marketplace that helps salvage yards sell cart parts online. The latest funding round that netted the company $6.5 million was led by Left Lane Capital and Bedrock Capital. With the new capital, the marketplace will expand its e-commerce tools to help salvage yards increase online sales. [PR Newswire]
