Summer is in full swing, and funding may be taking a backseat to beach days and road trips. With nearly $90 million for July’s total tech funding, the city still managed to score some major wins, but it wasn’t quite the stunning June we had to kick summer off.
Healthtech (spoiler) was a major winner, with two of the top five funding rounds going to healthcare-related startups. Endotronix took home the most funding of any tech companies this month, with Caremerge coming in second.
5. RedWave Energy, $5.5 million, July 21
Investors: Energy Foundry led the round, with investments from Northwater Capital, Prime Coalition and Enertech Holding Co.
Bio: RedWave Energy converts heat that would otherwise be wasted into electricity with nanoantennas.
News: RedWave will use the $5.5 million in funding to help build a working prototype of the nanoantenna system up and running. In the future, RedWave plans to partner with a manufacturer to bring a film-like application of the tech to market. Read more here.
4. CityBase, $6.25 million, July 7
Investors: Led by KDWC Ventures
Bio: CityBase is a SaaS service targeted at cities to make it easier for residents to find services online.
News: The company raised a $6.25 million Series B to build up its platform, which is already in use in 40 cities. The funding will be used in part to nearly double its headcount by the end of the year as well. Read more here.
3. Rise Interactive, $12.3 million, July 7
Bio: Rise Interactive is a digital marketing agency, specializing in media, analytics, and customer experience.
News: The $12.3 million investment from Quad/Graphics is the first investment Rise Interactive has taken in its 12-year history. The funding builds on a longstanding partnership between the two firms and will help Rise build up its digital innovations team. Read more here.
2. Caremerge, $14 million, July 13
Investors: Insight Venture Partners led the round with participation from Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures and Arsenal Venture Partners.
Bio: Caremerge is a healthcare communication and care coordination platform with a focus on elder care. The company’s apps allow for simple coordination for patient care.
News: The new funding will help Caremerge accelerate growth of its communications software throughout the healthcare industry. The platform is already in use at 400 locations across the country. Insight Venture Partner’s Harley Miller and Ziegler’s Dan Hermann will also join Caremerge’s board. Read more here.
1. Endotronix, $32 million, July 14
Investors: BioVentures Investors, SV Life Sciences (SVLS), Lumira Capital, Aperture Venture Partners and OSF Ventures
Bio: Endotronix has developed next-generation tech for measuring blood pressure in key areas of the human circulatory system using tiny implanted sensors and a small, handheld reader.
News: Endotronix $32 million Series C will fund a clinical trial for its heart health monitor. The company is also working on a cloud-based outpatient management system that helps track the information gathered by the device, providing simpler monitoring for serious conditions. Read more here.
Images via featured companies, ShutterstockHave any big funding news you want to share? Drop us a line or tweet us @BuiltInChicago