Tech roundup: Label Insight's $10M Series B, Chicago's new Bitcoin alternative, & more

Chicago’s Label Insight raises $10M Series B

On Thursday, Chicago-based

announced the close of a $10 million Series B round led by KPMG Capital. The company, whose technology scans food packaging and labels in order to give consumers and manufactures a clearer picture of what’s actually in their food, will use the funds for hiring and to build out new services. [Chicago Tribune: Label Insight raises $10M to help retailers know what's in that Lean Cuisine]

 

Decred launches in Chicago as alternative to Bitcoin

This week, Chicago-based Company 0 (which makes software for Bitcoin communications) launched Decred, an altcoin alternative to the popular cryptocurrency. According to the Tribune, “Decred was trading on at least one exchange for less than 1 percent of the value of Bitcoin, which was worth about $373 at the time — giving the new coin a value of $1.27.” [Chicago Tribune: Chicago developers launch Decred, a Bitcoin alternative]

 

Pritzker alum to raise $10M for new seed-stage fund

According to Chicago Inno, Chicago-based Network Ventures is raising up to $10 million to fuel its first first-ever fund. The seed-stage VC firm is led by former Pritzker Group Venture Capital VP Jeffrey Maters. [Chicago Inno: A Former Pritzker VC Is Raising $10M for a New Seed Fund]

 

Chicago health tech sector announces $12M in new funding

In a big fundraising day for Chicago health tech,

and announced funding rounds of $10 million and $2.1 million, respectively, on Tuesday. SwervePay, which offers a payment solution that lets patients pay their medical bills via text message, raised its $10 million in a Series B round led by Garland Capital Group to support its growth and expansion. Chicago-based telemedicine provider First Stop Health, LLC also announced a round of funding on Tuesday — this one a seed round of $2.1 million led by existing investors. [Built In Chicago]

 

Avant hires trio of new VPs

This week,

announced the hiring of three new vice presidents to help lead the company as it continues its remarkable growth. James Paris (formerly of BMO Harris) has joined as EVP of Capital Markets and Corporate Development, while Brian Abrahams (formerly of AIPAC) and Chris Armsey (a Motorola alum) join as VP of Communications and Government Relations and VP of Human Resources, respectively.

 

Matter-based Sim Machines accepted to Microsoft accelerator

This week, Microsoft’s Seattle-based Ventures Machine Learning Accelerator announced the companies in its incoming class, including Chicago’s Sim Machines. Sim Machines, which has been working out of the Merchandise Mart’s healthtech incubator,

, beat out over 700 other companies from 50 countries to its spot. [Read more here]

Some photos via Shutterstock.

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